SIDMARK SALES P. LTD, MUMBAI V. DCIT 10(2), MUMBAI

ITA 1414/MUM/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 8444 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2004-2005
• Appeal Filed On: 22-02-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUM EET KUMAR
• Assessee Lawyers: SUBHODH RATANAPARKHI
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI I BENCH BEFORE SHRI T.R.SOOD, ACCOUNTANT MEMBER & SHRI VIJAY PAL RAO, JUDICIAL MEMBER I.T.A.NO.1414/MUM/2010 A.Y 2004-05 SIDMARK SALES PVT. LTD., 5, ATUR HOUSE, 87, DR. ANNE BESANT ROAD, WORLI, MUMBAI 400 018. PAN: AAACS 8831 N VS. DY. COMMISSIONER OF INCOME TAX, 10(2), MUMBAI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI SUBHODH RATANAPARKHI. RESPONDENT BY : SHRI SUMEET KUMAR. O R D E R PER T.R.SOOD, AM: THROUGH THIS APPEAL, ASSESSEE HAS CHALLENGED THE O RDER OF THE CIT[A] IN WHICH PENALTY LEVIED U/S.271[1][C] HAS BE EN CONFIRMED. 2. BEFORE US, LD. COUNSEL OF THE ASSESSEE POINTED O UT THAT IN QUANTUM APPEAL THE MAIN ADDITION AMOUNTING TO ` `` ` .6,51,852/- HAS BEEN SET ASIDE TO THE FILE OF THE AO, THEREFORE, NOTHING SURVIVES FOR PENALTY. 3. ON THE OTHER HAND, LD. DR RELIED ON THE ORDER OF THE CIT[A]. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS CAREFUL LY AND FIND THAT ADDITION ON ACCOUNT OF FOREIGN TRAVEL AMOUNTING TO ` `` ` .6,51,852/- WAS SET ASIDE TO THE FILE OF THE AO FOR RE-EXAMINATION IN THE ORDER PASSED BY THE TRIBUNAL IN I.T.A.NO.3536/MUM/2007 WHILE ADJ UDICATING THE QUANTUM APPEAL, THEREFORE, NOTHING SURVIVES FOR PEN ALTY AND ACCORDINGLY WE DELETE THE PENALTY. HOWEVER, AO IS A T LIBERTY TO CONSIDER 2 LEVY OF PENALTY IF THE ADDITION IS AGAIN REPEATED A ND CIRCUMSTANCES WARRANT THE LEVY OF PENALTY. 5. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 11 TH DAY OF FEBRUARY, 2011. SD/- SD/- (VIJAY PAL RAO) (T.R.SOOD) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI:11 TH FEBRUARY, 2011. P/-*