ASHWIN M SAVANI, MUMBAI V. ITO 11(1)(1), MUMBAI

ITA 1517/MUM/2013

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0415 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-06-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 01-06-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 25-02-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V K AGARWAL
• Assessee Lawyers: BHAVIN SAVANI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B, MUMBAI BEFORE SHRI P K BANSAL, VP & SHRI PAWAN SINGH, JM ITA NO.1517/MUM/2013 ASSESSMENT YEAR : 2006-07 SHRI ASHWIN M SAVANI, 5/B FELTHAM HOUSE, 10 J N HEREDIA ROAD, BALLARD ESTATE, MUMBAI- 400 001 PAN AAFOS4656P VS. ITO 11(1)(1) MUMBAI (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI BHAVIN SAVANI RESPONDENT BY : SHRI V K AGARWAL (CIT-DR) DATE OF HEARING : 01 .0 6 .2017 DATE OF PRONOUNCEMENT : 12 .0 6 .2017 O R D E R PER P K BANSAL, VICE-PRESIDENT: THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A)- 3, MUMBAI, DATED 08.07.2013, FOR A.Y. 2006-07, SUST AINING THE PENALTY AMOUNTING TO RS.42,62,519/- LEVIED U/S. 271(1)(C) O F THE ACT. 2. THE LEARNED AR BEFORE US SUBMITTED A COPY OF THE ORDER DATED 20.07.2016 AND ON THAT BASIS CONTENDED THAT THE ADD ITIONS IN RESPECT OF WHICH PENALTY HAS BEEN LEVIED BY THE AO U/S. 271(1) (C) HAS BEEN DELETED BY THE CIT(A) AND, THEREFORE, THE PENALTY WILL STAND D ELETED. ITA NO. 1517/MUM/2013 ASHWIN M SAVANI 2 3. THE LEARNED DR WAS FAIR ENOUGH TO CONSIDER THE O RDER DATED 20.07.2016. 4. WE NOTED THAT IN THIS CASE, THE CIT(A) HAS DELET ED THE ADDITIONS MADE BY THE AO ON WHICH PENALTY HAS BEEN LEVIED U/S. 271 (1)(C). IN VIEW OF THIS FACT, WE SET ASIDE THE ORDER OF THE CIT(A) AND DELE TE THE PENALTY LEVIED U/S. 271(1)(C) ON THE ASSESSEE. 5. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 12 TH DAY OF JUNE, 2017. SD/- SD/- (PAWAN SINGH) (P K BANSAL) JUDICIAL MEMBER VICE-PRESIDENT MUMBAI; DATED: 12 TH JUNE, 2017 SA COPY OF THE ORDER FORWARDED TO : 1. THE APP ELL ANT. 2. THE RESPONDENT. 3. T HE CIT(A), MUMBAI 4. THE CIT 5. DR, B BENCH, ITAT, MUMBAI BY ORDER, #TRUE COPY # ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, MUMBAI