ACIT, CHENNAI V. M/s. Samalpatti Power Company Ltd., CHENNAI

ITA 1702/CHNY/2009

• Counselvise Citation: 170221714 RSA 2009
• Duration Of Justice: 1 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-08-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 24-08-2011
• Assessment Year: 2003-2004
• Appeal Filed On: 30-10-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T N BETGIRI
• Assessee Lawyers: DR ANITA SUMANTH
• Section: 271(1)(c)

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI C BENCH, CHENNAI. BEFORE DR. O.K. NARAYANAN, VICE PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER I.T.A. NO. 1702/MDS/2009 ASSESSMENT YEAR: 2003-04 THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(1), AAYAKAR BHAVAN, NEW BLOCK, 121, M.G. ROAD, 7 TH FLOOR, CHENNAI - 34. VS. M/S. SAMALPATTI POWER COMPANY LTD., FIRST FLOOR, SREYAS VIRAT, NO.14, THIRD CROSS STREET, R.A. PURAM, CHENNAI 600 028. [PAN:AADCS1893D] (APPELLANT) (RESPONDENT) REVENUE BY : SHRI T.N. BETGIRI ASSESSEE BY : DR. ANITA SUMANTH, ADVOCATE DATE OF HEARING : 24.08.2011 DATE OF PRONOUNCEMENT 24.08.2011 ORDER PER HARI OM MARATHA, J.M. THIS APPEAL OF THE REVENUE FOR THE ASSESSMENT YEAR 2003-04, IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A) V, CHENNAI DATE D 13.08.2009 AND FURTHER EMANATES FROM THE PENALTY ORDER PASSED UNDER SECTIO N 271(1)(C) OF THE ACT DATED 26.02.2009. 2. IT WAS STATED BEFORE US AT THE TIME OF HEARING THAT THE ADDITION ON THE BASIS OF WHICH PENALTIES WERE LEVIED UNDER SECTION 271(1) (C) OF THE ACT HAVE BEEN DELETED BY THE HONBLE JURISDICTIONAL HIGH COURT WH ILE PASSING THE ORDER IN THE QUANTUM APPEAL FOR THE ASSESSMENT YEAR 2003-04. IN THIS REGARD, PARA 16 OF THE LD. CIT(A)S ORDER IS RELEVANT, WHICH IS BEING EXTRACTE D BELOW: 16. THEREFORE, ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ADDITIONS HAVING BEEN DELETED BY THE INTERPRETATION OF LAW BY THE HONOURABLE I II I.T.A. NO. .T.A. NO. .T.A. NO. .T.A. NO.1702 1702 1702 1702/MDS/ /MDS/ /MDS/ /MDS/0 00 09 99 9 2 JURISDICTIONAL HIGH COURT IN THE ASSESSEES OWN CAS E ON TWO ITEMS AND ON THE OTHER ITEM OF COMPUTATION OF CAPITAL GAIN/LOSS BY A PPLICABILITY OF DEEMING PROVISIONS, I AM OF THE OPINION THAT PENALTY, MUCH LESS CONCEALMENT PENALTY, COULD NOT BE LEVIED. THEREFORE, THE ASSESSING OFFIC ER IS DIRECTED TO DELETE THE PENALTY UNDER SECTION 271(1)(C) LEVIED BY HIM. 3. THEREFORE, ACCEPTING THE REASONS OF LD. CIT(A) AND AFTER FINDING THAT QUANTUM ADDITIONS STAND DELETED IN VIEW OF THE DECI SION OF THE HONBLE JURISDICTIONAL HIGH COURT IN ASSESSEES OWN CASE, N O PENALTY COULD BE LEVIED UNDER SECTION 271(1)(C) OF THE ACT. HENCE, WE DO NOT FIND ANY MERITS IN THE REVENUES APPEAL AND ACCORDINGLY, THE APPEAL OF THE REVENUE I S DISMISSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 24.08.2011. SD/- SD/- (O.K. NARAYANAN) VICE PRESIDENT (HARI OM MARATHA) JUDICIAL MEMBER CHENNAI, DATED, THE 24.08.2011 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.