Deepak Gupta Alias Rocky Gupta, New Delhi V. ITO, New Delhi

ITA 1420/DEL/2012

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 6470 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 8 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Next Hearing Date: 07-12-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 26-03-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: ANIL KUMAR SHARMA SENIOR
• Assessee Lawyers: D M SINHA
• Keywords: Income from undisclosed sources

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH B BB B : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI BEFORE SHRI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA NO ITA NO ITA NO ITA NO . .. . 1420/DEL/2012 1420/DEL/2012 1420/DEL/2012 1420/DEL/2012 ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : 2005 2005 2005 2005 - -- - 06 0606 06 SHRI DEEPAK GUPTA, SHRI DEEPAK GUPTA, SHRI DEEPAK GUPTA, SHRI DEEPAK GUPTA, ALIAS SHRI ROCKY GUPTA, ALIAS SHRI ROCKY GUPTA, ALIAS SHRI ROCKY GUPTA, ALIAS SHRI ROCKY GUPTA, C/O SH C/O SH C/O SH C/O SHRI D.M. SINHA RI D.M. SINHA RI D.M. SINHA RI D.M. SINHA (ADVOCATE), (ADVOCATE), (ADVOCATE), (ADVOCATE), 108/109, KARKARDOOMA, 108/109, KARKARDOOMA, 108/109, KARKARDOOMA, 108/109, KARKARDOOMA, COMMUNITY CENTRE, COMMUNITY CENTRE, COMMUNITY CENTRE, COMMUNITY CENTRE, PLOT NO.20, PLOT NO.20, PLOT NO.20, PLOT NO.20, (PARMESH BUSINESS CENTRE), (PARMESH BUSINESS CENTRE), (PARMESH BUSINESS CENTRE), (PARMESH BUSINESS CENTRE), DELHI DELHI DELHI DELHI 110 092. 110 092. 110 092. 110 092. PAN : AAHPG8039Q. PAN : AAHPG8039Q. PAN : AAHPG8039Q. PAN : AAHPG8039Q. VS. VS. VS. VS. INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -34(4), 34(4), 34(4), 34(4), NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI D.M. S INHA, ADVOCATE. RESPONDENT BY : SHRI ANIL KUMAR SHARMA, SENIOR DR. DATE OF HEARING : 07.12.2016 07.12.2016 07.12.2016 07.12.2016 DATE OF PRONOUNCEMENT : 16.12.2016 16.12.2016 16.12.2016 16.12.2016 ORDER ORDER ORDER ORDER PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP : :: :- -- - THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEA R 2005-06 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-XIX, N EW DELHI DATED 20 TH JANUARY, 2012. 2. THE ONLY GROUND RAISED BY THE ASSESSEE IS AGAINS T THE CONFIRMATION OF PENALTY OF `3,11,920/- WHICH WAS LE VIED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE INCOME-TAX A CT, 1961. 3. AT THE TIME OF HEARING BEFORE US, IT WAS POINTED OUT BY THE LEARNED COUNSEL THAT THE ASSESSING OFFICER HAD LEVI ED THE PENALTY U/S ITA-1420/DEL/2012 2 271(1)(C) IN RESPECT OF ADDITION OF `10,15,000/-. IT WAS POINTED OUT BY THE LEARNED COUNSEL THAT IN THE QUANTUM APPEAL, LEA RNED CIT(A) HAS SUSTAINED THE ADDITION OF ONLY `70,000/- AND DELETE D THE BALANCE ADDITION. HE, THEREFORE, SUBMITTED THAT THE LEVY O F PENALTY ON THE ENTIRE ASSESSED INCOME OF `10,15,000/- IS UNCALLED FOR. THE SAME SHOULD BE CANCELLED. 4. LEARNED DR, ON THE OTHER HAND, RELIED UPON THE O RDERS OF AUTHORITIES BELOW. 5. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D HAVE PERUSED THE MATERIAL PLACED BEFORE US. ADMITTEDLY, NO PENALTY CAN BE LEVIED IN RESPECT OF THE ADDITION WHICH IS DELETED BY LEARNED CIT(A). FROM THE ORDER OF LEARNED CIT(A), WE FIND THAT HE H AD CONFIRMED THE ADDITION OF `70,000/- AND HAS ALSO DIRECTED THAT IT SHOULD BE TREATED AS INCOME FROM UNDISCLOSED SOURCES. NO ARGUMENT HAS B EEN ADVANCED BY THE ASSESSEE WITH REGARD TO LEVY OF PENALTY ON THE ADDITION OF `70,000/- AS UNDISCLOSED INCOME SUSTAINED BY THE CIT(A). WE ARE, THEREFORE, OF THE OPINION THAT THE PENALTY IN RESPECT OF THE ADDI TION OF `70,000/- IS SUSTAINABLE. WE DIRECT THE ASSESSING OFFICER TO LE VY THE MINIMUM PENALTY WITH REGARD TO THE ADDITION OF `70,000/- SU STAINED BY THE LEARNED CIT(A) AS INCOME FROM UNDISCLOSED SOURCES. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED. DECISION PRONOUNCED IN THE OPEN COURT ON 16.12.2016 . SD/- SD/- (SUDHANSHU SRIVASTAVA (SUDHANSHU SRIVASTAVA (SUDHANSHU SRIVASTAVA (SUDHANSHU SRIVASTAVA ) )) ) ( (( ( G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL ) )) ) JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VK. ITA-1420/DEL/2012 3 COPY FORWARDED TO: - 1. APPELLANT : SHRI DEEPAK GUPTA, ALIAS SHRI RO CKY GUPTA, SHRI DEEPAK GUPTA, ALIAS SHRI ROCKY GUPTA, SHRI DEEPAK GUPTA, ALIAS SHRI ROCKY GUPTA, SHRI DEEPAK GUPTA, ALIAS SHRI ROCKY GUPTA, C/O SHRI D.M. SINHA (ADVOCATE), C/O SHRI D.M. SINHA (ADVOCATE), C/O SHRI D.M. SINHA (ADVOCATE), C/O SHRI D.M. SINHA (ADVOCATE), 108/109, KARKARD 108/109, KARKARD 108/109, KARKARD 108/109, KARKARDOOMA, COMMUNITY CENTRE, OOMA, COMMUNITY CENTRE, OOMA, COMMUNITY CENTRE, OOMA, COMMUNITY CENTRE, PLOT NO.20, (PARMESH BUSINESS CENTRE), PLOT NO.20, (PARMESH BUSINESS CENTRE), PLOT NO.20, (PARMESH BUSINESS CENTRE), PLOT NO.20, (PARMESH BUSINESS CENTRE), DELHI DELHI DELHI DELHI 110 092. 110 092. 110 092. 110 092. 2. RESPONDENT : INCOME TAX OFFICER, WARD INCOME TAX OFFICER, WARD INCOME TAX OFFICER, WARD INCOME TAX OFFICER, WARD- -- -34(4), NEW DELHI. 34(4), NEW DELHI. 34(4), NEW DELHI. 34(4), NEW DELHI. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR