ACIT, CHENNAI V. M/s. Shriram Chits Tamilnadu Pvt. Ltd., CHENNAI

ITA 1611/CHNY/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 64585 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-11-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 22-11-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 17-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR S MOHARANA IRS
• Assessee Lawyers: S BALAMURUGAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI BEFORE DR. O.K. NARAYANAN, VICE-PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER I.T.A.NOS. 1610 & 1611/MDS/2012 ASSESSMENT YEARS : 2005-06 & 2007-08 THE ASSISTANT COMMISSIONER OF INCOME-TAX, COMPANY CIRCLE-VI(2), CHENNAI 34. VS. M/S. SHRIRAM CHITS TAMILNADU PVT. LTD., NO.149, GREAMS ROAD, CHENNAI 600 006. PAN AABCS0167N (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI DR. S. MOHARANA, IRS, CIT RESPONDENT BY : SHRI S. BALAMURUGAN, ADVO CATE DATE OF HEARING : 22 ND NOVEMBER, 2012 DATE OF PRONOUNCEMENT : 22 ND NOVEMBER, 2012 O R D E R PER DR. O.K. NARAYANAN, VICE-PRESIDENT THESE TWO APPEALS ARE FILED BY THE REVENUE. THE R ELEVANT ASSESSMENT YEARS ARE 2005-06 AND 2007-08. THESE AP PEALS ARE DIRECTED AGAINST THE ORDERS OF THE COMMISSIONER OF INCOME- TAX(APPEALS)-V, AT CHENNAI DATED 30.5.2012. THESE APPEALS ITA 1610 & 1611/12 :- 2 -: ARISE OUT OF THE PENALTY LEVIED UNDER SEC.271(1)(C) OF THE INCOME- TAX ACT, 1961. 2. IN THESE TWO CASES, THE PENALTIES LEVIED HAVE BE EN DELETED BY THE COMMISSIONER OF INCOME-TAX(APPEALS) IN THE L IGHT OF THE ORDER OF THE TRIBUNAL PASSED IN ASSESSEES OWN CASE FOR THE EARLIER ASSESSMENT YEARS 2001-02, 2002-03, 2004-05, 2003-04 AND 2006-07. THE REASON FOR FILING THESE APPEALS I S THAT THE ORDER OF THE TRIBUNAL PASSED FOR THE EARLIER ASSESSMENT Y EARS HAVE NOT BECOME FINAL AND APPEALS HAVE BEEN FILED BEFORE THE HONBLE MADRAS HIGH COURT. 3. ANYHOW, THE VERY SAME ISSUE HAS BEEN CONSIDERED BY THE TRIBUNAL FOR ALL THE EARLIER ASSESSMENT YEARS AND C ONSISTENTLY TAKEN A VIEW THAT THE LEVY OF PENALTY IS NOT JUSTIF IED. THE COMMISSIONER OF INCOME-TAX(APPEALS) COMING UNDER TH E JURISDICTION OF THE INCOME-TAX APPELLATE TRIBUNAL, CHENNAI BENCHES HAS RIGHTLY FOLLOWED THE SAID ORDERS OF THE TRIBUNAL. THEREFORE, WE FIND THAT THE ORDERS OF THE COMMISSIO NER OF INCOME- TAX(APPEALS) ARE JUST AND PROPER IN LAW. ACCORDING LY, THESE TWO APPEALS FILED BY THE REVENUE ARE DISMISSED. ITA 1610 & 1611/12 :- 3 -: ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON THURSDAY, THE 22 ND OF NOVEMBER, 2012 AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (DR.O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 22 ND NOVEMBER , 2012 MPO* COPY TO : APPELLANT/RESPONDENT/CIT/CIT(A)/DR