M/S. RADHAKRISHNA RAMNARAIN PVT. LTD., MUMBAI V. ACIT CIR CIR 47, MUMBAI

ITA 1418/MUM/2011

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 88694 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 1 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 19-03-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 17-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AKHILENDRA P YADAV
• Assessee Lawyers: VARUN CHATURVEDI
• Section: 69

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN (AM) AND AMIT SHUKLA, (JM) . . , , ./ I.T. A. NO. 1418 / MUM/20 1 1 ( / ASSESSMENT YEAR : 20 0 5 - 06 ) M/S RADHAKRISHNA RAMNARAIN PVT.LTD., PHOENIX MILL COMPOUND, 462, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013 / VS. ASSTT.COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 47, MUM BAI . ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN/GIR NO. : AAAC R3297H / A SSESSEES BY SHRI VARUN CHATURVEDI / RE VENUE BY SHRI AKHILENDRA P YADAV / DATE OF HEARING : 23.3 . 201 5 / DATE OF PRONOUNCEMENT : 23 .3. 201 5 / O R D E R PER B.R. BASKARAN (AM) THE APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 17 - 01 - 2011 PASSED BY LD CI T(A) - 36, MUMBAI AND IT RELATES TO THE ASSESSMENT YEAR 2005 - 06. THE ASSESSEE IS AGGRIEVED BY THE DECISION OF LD CIT(A) IN CONFIRMING THE PENALTY OF RS.4,89,874/ - U/S 271(1)(C) OF THE ACT IN RESPECT OF THE ADDITION MADE U/S 69 OF THE ACT. 2. THE LD.COUNSE L APPEARING FOR THE ASSESSEE SUBMITTED THAT THE IMPUGNED PENALTY WAS LEVIED ON THE ADDITION MADE U/S 69 OF THE ACT AND THE SAID ADDITION HAS SINCE BEEN RESTORED TO THE FILE OF THE ASSESSING OFFICER BY THE TRIBUNAL, VIDE ITS ORDER DATED 23 - 03 - 2011 PASSED IN THE QUANTUM I.T.A. NO. 1418 / MUM/201 1 2 ASSESSMENT PROCEEDINGS IN ITA NO. 3155/MUM/2009. THE LD A.R ALSO FURNISHED A COPY OF THE ORDER PASSED BY THE TRIBUNAL. ACCORDINGLY HE PRAYED THAT THE IMPUGNED PENALTY ORDER DOES NOT SURVIVE. 3. THE LD D.R AGREED WITH THE FACTUAL ASPECTS PRESENTED BY LD A.R. 4. HAVING REGARD TO THE SUBMISSIONS MADE BY LD A.R, WE ARE OF THE VIEW THAT THE IMPUGNED PENALTY ORDER DOES NOT HAVE LEGS TO STAND ON ITS OWN, SINCE THE ADDITION ON WHICH THE PENALTY WAS LEVIED, HAS SINCE BEEN RESTORED TO THE FILE OF THE AO BY THE TRIBUNAL. ACCORDINGLY WE SET ASIDE THE ORDERS OF TAX AUTHORITIES WITH THE LIBERTY TO THE AO TO DECIDE ABOUT THE LEVY OF PENALTY IN THE SET ASIDE PROCEEDINGS. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS TREATED AS ALLOWED. THE AB OVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 23RD MARCH, 2015 . 23RD MARCH, 2015 SD SD ( / AMIT SHUKLA ) ( . . / B.R. BASKARAN) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI: 23RD MARCH,2015 . . . ./ SRL , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - CONCERNED 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI CONCERNED 6. / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) , /ITAT, MUMBAI