ACIT Circle13, New delhi, Delhi V. M/S KRBL Ltd, Delhi

ITA 1677/DEL/2022

AI Insights

The case involves six separate appeals by the Revenue against KRBL Ltd., concerning the deletion of penalties for the Assessment Years 2010-11 to 2016-17. The penalties were initially levied based on certain additions made during the assessment, which included discrepancies in sales and purchases, commission received from DMCC, Dubai, and unexplained cash and stock. However, these additions were later deleted by the Tribunal in previous appeals, leading to the deletion of the penalties by the CIT(A). The Revenue's appeals to reinstate the penalties were dismissed by the Tribunal, affirming the CIT(A)'s decision.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 300881 (ITAT-DELHI)
• Duration Of Justice: 8 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 28-03-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 21-07-2022
• Other Referred Cases: ITA Nos. 1196 to 1202/DEL/2020, ITA Nos. 1338 to 1344/DEL/2020
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘C’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No. 1676/DEL/2022 [A.Y. 2010-11] ITA No. 1677/DEL/2022 [A.Y. 2011-12] ITA No. 1678/DEL/2022 [A.Y. 2013-14] ITA No. 1679/DEL/2022 [A.Y. 2014-15] ITA No. 1680/DEL/2022 [A.Y. 2015-16] ITA No. 1681/DEL/2022 [A.Y. 2016-17] The A.C.I.T Vs. KRBL Ltd Circle - 13(1) 5190, Lahori Gate, New Delhi Delhi Dadar Bazar, Delhi PAN – AAACK 4644 H (Applicant) (Respondent) Assessee By : Shri Ajay Vohra, Sr. Adv Shri Aditya Vohra, Adv Shri Arpit Goyal, CA Department By : Shri Gayasuddin Ansari, CIT- DR Date of Hearing : 29.03.2023 Date of Pronouncement : 29.03.2023 2 ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- The above captioned six separate appeals by the Revenue are preferred against the common order of the ld. CIT(A) - 27, New Delhi dated 21.05.2022 pertaining to Assessment Years 2010-11, 2011-12, 2013-14 to 2016-17. 2. Since common grievance is involved in all these appeals, they are decided by us by this common order for the sake of convenience and brevity. 3. The common grievance in the captioned appeals relates to the deletion of penalty levied u/s 271(1)(c)/271AAB of the Income-tax Act, 1961 [the Act, for short]. 4. The common basis for the levy of impugned penalty are: (i) Addition made on account of difference in sale and purchase and commission paid for arranging bogus sales/purchase entries; 3 (ii) Addition made on account of commission received from DMCC, Dubai; and (iii) Addition on account of unexplained cash and unaccounted stock. 5. We find that in the quantum addition, the appeals of the assessee were partly allowed by the first appellate authority against whose order both the assessee and the revenue approached this Tribunal, and the Tribunal in ITA Nos. 1196 to 1202/DEL/2020 in assessee’s appeals and ITA Nos. 1338 to 1344/DEL/2020 in Revenue’s appeals has deleted the quantum addition and allowed the assessee’s appeals and dismissed the Revenue’s appeals. 6. Since the quantum addition stands deleted, the ld. CIT(A) rightly deleted the impugned penalty. We, therefore, do not find any reason to interfere with the findings of the ld. CIT(A). 4 7. In the result, all the six appeals of the Revenue in ITA Nos. 1676 to 16818 are dismissed. The order is pronounced in the open court on 29.03.2023. Sd/- Sd/- [ANUBHAV SHARMA] [N.K. BILLAIYA] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 29 th March, 2023. VL/ Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi 5 Date of dictation Date on which the typed draft is placed before the dictating Member Date on which the typed draft is placed before the Other Member Date on which the approved draft comes to the Sr.PS/PS Date on which the fair order is placed before the Dictating Member for pronouncement Date on which the fair order comes back to the Sr.PS/PS Date on which the final order is uploaded on the website of ITAT Date on which the file goes to the Bench Clerk Date on which the file goes to the Head Clerk The date on which the file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order