ORDER

Per Shri A.T.Varkey, JM 

This appeal is filed by the Revenue against the order dated 13/04/2017 passed by the Ld. CIT(A)-21, Kolkata for the AY 2013-14 deleting the penalty which was levied by the AO u/s 271AAB of the Income-tax Act, 1961 (in short “Act”).

2. Briefly stated the facts of the case are that search and seizure operation under Section 132 of the Act was conducted on 18/02/2013 upon ‘Rashmi Group’ and the panchanama was drawn in the name of the assessee company. The assessee company is engaged in the business of manufacture of iron, steel and railway sidings operations. In the course of search the assessee company along with another group company, M/s Rashmi Cement Ltd and M/s Sajjan Kumar Patwari (HUF) offered to pay tax on sum of Rs.102 crores in a joint disclosure petition submitted before the DDIT(Inv), Kolkata. In the said disclosure petition, which is placed at Page 53 to 128 of the Paper Book, the Rashmi Group furnished its explanation in respect of assets found in the course of search in form of cash, jewellery& silver utensils and also the documents seized and impounded during the course of survey. It was mentioned in the joint petition that since on the dat