DCIT, New Delhi V. M/s NDTV Media Ltd, New Delhi

ITA 1584/DEL/2015

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 2815 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2007-2008
• Appeal Filed On: 18-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S R SENAPATI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES E : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA.NO.1584/DEL./2015 ASSESSMENT YEAR 2007-2008 THE DCIT, CIRCLE-18(1), NEW DELHI. VS M/S. NDTV MEDIA LTD., 207, OKHLA INDUSTRIAL ESTATE-III, NEW DELHI110 020 PAN AABCN6516C (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI S.R. SENAPATI, SR. D.R. FOR ASSESSEE : SHRI SACHIT JOLLY, ADVOCATE DATE OF HEARING : 15.03.2018 DATE OF PRONOUNCEMENT : 20.03.2018 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY REVENUE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-6, DELHI, DATED 05 TH DECEMBER, 2014, FOR THE A.Y. 2007-2008, CHALLENGING THE CANCELLATION OF PENALTY UNDER SECTION 271(1)(C) OF THE I.T. ACT, 1961. 2. THE A.O. WHILE COMPLETING THE ASSESSMENT, MADE DISALLOWANCE OF ESOP EXPENDITURE CLAIMED BY THE ASS ESSEE OF 2 ITA.NO.1584/DEL./2015 M/S. NDTV MEDIA LTD., NEW DELHI. RS.3.04 CRORES, ON WHICH, A.O. LEVIED THE PENALTY. LD. CIT(A) CANCELLED THE PENALTY FOLLOWING THE ORDER OF THE IT AT, BANGALORE SPECIAL BENCH IN THE CASE OF BIOCON LTD., VS. DCIT 144 ITD 21 IN WHICH IT WAS HELD THAT SUCH EXPENDITURE IS ALLOW ABLE. 3. LEARNED COUNSEL FOR THE ASSESSEE, AT THE OUTSET , SUBMITTED THAT APPEAL OF ASSESSEE ON QUANTUM HAVE B EEN ALLOWED BY THE TRIBUNAL IN ITA.NO.886/DEL.2012 DATE D 10 TH JULY, 2015 FOR THE A.Y. 2007-2008, IN WHICH THE TRI BUNAL FOLLOWING THE DECISION OF THE SPECIAL BENCH OF THE TRIBUNAL IN THE CASE OF BIOCON LTD., (SUPRA), RESTORED THE MATT ER BACK TO THE FILE OF A.O. TO DECIDE THE ISSUE IN CONFORMITY WITH THE DECISION OF THE SPECIAL BENCH. COPY OF THE ORDER IS PLACED ON R ECORD, WHICH IS NOT DISPUTED BY THE LD. D.R. 4. IN THIS VIEW OF THE MATTER, IT IS CLEAR THAT SI NCE QUANTUM ORDER HAVE BEEN SET ASIDE TO THE FILE OF A. O, THEREFORE, AT THIS STAGE, NO PENALTY IS LEVIABLE AGAINST THE A SSESSEE. THE DEPARTMENTAL APPEAL FAILS AND THE SAME IS DISMISSED . HOWEVER, THE A.O. IS AT LIBERTY TO TAKE ACTION AS PER LAW, I F SO, ADVISED AFTER 3 ITA.NO.1584/DEL./2015 M/S. NDTV MEDIA LTD., NEW DELHI. PASSING THE ASSESSMENT ORDER, IN ACCORDANCE WITH LA W. THE DEPARTMENTAL APPEAL IS DISMISSED. 5. IN THE RESULT, APPEAL OF THE DEPARTMENT IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (LP SAHU) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DELHI, DATED 20 TH MARCH, 2018 VBP/- COPY TO 1. THE APPLICANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT E BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR : ITAT DELHI BENCHES : DELHI.