In the Income-Tax Appellate Tribunal,
                        Delhi Bench `G', New Delhi

              Before : Shri H.S. Sidhu, Judicial Member And
                       Shri B.R.R. Kumar, Accountant Member

                         ITA No. 2232/Del/2019
                        Assessment Year: 2010-11

        Shipra Estate Ltd. and Jai Krishan    vs. ACIT, Circle 58(1),
        Estate Developers Pvt. Ltd., Delhi.       New Delhi.
        PAN- ABGFS9748C
        (Appellant)                                (Respondent)

                 Appellant by        Sh. Prateek Gupta and
                                     Sh. Pancham Sethi, CA
                 Respondent by       Sh. N.K. Bansal, Sr. DR

                  Date of Hearing              12.06.2019
                  Date of Pronouncement        13.06.2019

                                   ORDER
Per B.R.R. Kumar, A.M.:
      In this case, the assessment has been completed on 14.02.2013
disallowing the deduction of Rs.9,87,39,565/- claimed by the assessee u/s.
80IB. The matter travelled upto the ITAT wherein the ITAT adjudicated the
matter on 26.04.2018 with the directions to re-compute the deduction after
examination of the issue afresh and determine the deduction.







2.   Before us, it was brought to our notice that the Assessing Officer has
issued notice u/s. 142(1) of the IT Act on 10.06.2019 to the assessee and the
proceedings in response to the order of the ITAT are still pending before the
                                                            ITA No. 2232/Del/2019          2


Assessing Officer. Since the core issue of deduction under section 80IB has
been remanded back to examine the issue afresh, the penalty levied by the
Assessing Officer vide order dated 29.03.2017 is hereby set aside. The
department would be at liberty to levy penalty after conclusion of the
proceedings by the assessing officer as directed by this Tribunal vide order
dated 26.04.2018






3.      In the result, the appeal is allowed.
        Order pronounced in the open court.
              Sd/-                                                  Sd/-
        (H.S. Sidhu)                                      (B.R.R. Kumar)
        Judicial member                                Accountant Member

Dated: 13.06.2019
*aks*
Copy of order forwarded to:
(1)     The appellant                   (2)     The respondent
(3)     Commissioner                    (4)     CIT(A)
(5)     Departmental Representative     (6)     Guard File
                                                                                      By order

                                                                            Assistant Registrar
                                                                 Income Tax Appellate Tribunal
                                                                      Delhi Benches, New Delhi