M/s Thukral Regal Shoes, Chandigarh V. ACIT, Chandigarh

CO 27/CHANDI/2013

• Counselvise Citation: [2015] 123 COUNSELVISE.COM (IT) 0502 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 7 month(s) 12 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 30-04-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 29-04-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 17-09-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K MITTAL
• Assessee Lawyers: GURJIT SINGH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH A CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI T.R.SOOD, ACCOUNTANT MEMBER ITA NO. 773/CHD/2013 ASSESSMENT YEAR: 2007-08 THE ACIT, VS M/S THUKRAL REGAL SHOES, CIRCLE 2 (1), SCO 88, SECTOR 17D, CHANDIGARH. CHANDIGARH. PAN: AAAFT5204F & CO 27/CHD/2013 IN ITA NO. 773/CHD/2013 ASSESSMENT YEAR: 2007-08 M/S THUKRAL REGAL SHOES, VS THE ACIT, SCO 88, SECTOR 17D, CIRCLE 2(1), CHANDIGARH. CHANDIGARH. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI GURJIT SINGH RESPONDENT BY : SHRI S.K.MITTAL DATE OF HEARING : 29.04.2015 DATE OF PRONOUNCEMENT : 30.04.2015 O R D E R PER BHAVNESH SAINI,JM THE DEPARTMENTAL APPEAL AND CROSS OBJECTION BY ASS ESSEE ARE DIRECTED AGAINST THE ORDER OF LD. CIT(APPEALS), CHANDIGARH DATED 08.04.2013 FOR ASSESSMENT YEAR 2007-08. 2. THE LD. CIT(APPEALS) NOTED THAT PENALTY WAS IMPO SED ON DISALLOWANCE OF THE INTEREST. THE LD. CIT(APPEALS) FURTHER NOTED THAT QUANTUM ADDITION HAS BEEN DELETED BY THE TRIBU NAL VIDE ORDER DATED 27.04.2012 IN ITA 650/CHD/2011. THE LD . 2 CIT(APPEALS), THEREFORE, NOTED THAT SINCE QUANTUM A DDITION HAS BEEN DELETED, PENALTY IS NOT LEVIABLE AND ACCORDING LY, ALLOWED THE APPEAL OF THE ASSESSEE. 3. WE HAVE HEARD LD. DR AND THE ASSESSEE IN PERSON. THE DEPARTMENTAL APPEAL HAS NO MERIT BECAUSE ONCE QUANT UM ADDITION HAS BEEN DELETED BY THE TRIBUNAL, NOTHING SURVIVES IN FAVOUR OF THE REVENUE FOR LEVY OF PENALTY AGAINST T HE ASSESSEE. 4. THE ASSESSEE IN THE CROSS OBJECTION PRAYED THAT APPEAL OF THE DEPARTMENT MAY BE DISMISSED. IT IS ALSO TIME B ARRED. SINCE, DEPARTMENTAL APPEAL IS DISMISSED, THEREFORE, THE CR OSS OBJECTION OF THE ASSESSEE STANDS INFRUCTUOUS AND NO FURTHER I NTERFERENCE IS CALLED FOR IN THE MATTER. 5. IN VIEW OF THE ABOVE DISCUSSION, THE DEPARTMENTA L APPEAL AND CROSS OBJECTION OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30 TH APRIL,2015. SD/- SD/- (T.R.SOOD) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 30 TH APRIL,2015. POONAM COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT(A), THE CIT, DR ASSISTANT REGISTRAR, ITAT CHANDIGARH