Assessee is a government institute who filed an application for stay of penalty proceedings initiated. Tribunal directed AO to not pass final penalty order u/s 271(1)(c) till disposal of the quantum appeal. However, penalty proceedings not stayed by the tribunal. Tribunal relied on the decision of the Gujarat HC in the case of ACIT v . GE India Industrial (P) Ltd (2013) 358 ITR 410 (Guj.)(HC) (AY. 2013-14)
Punjab Institute of Medical Science v. Dy. CIT (2019) 176 DTR 391/ 199 TTJ 271 (Chd.)(Trib.)
S. 254(1) : Appellate Tribunal Powers-Stay-Penalty–Concealment– Quantum appeal pending before Tribunal–AO directed not to pass final penalty order – However, penalty proceedings not stayed. [S. 271(1)(c)]