Prakash Industries Ltd, New Delhi V. ACIT , HISAR

ITA 1704/DEL/2020

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 4251 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 16-01-2024
• Assessment Year: 2006-2007
• Appeal Filed On: 14-10-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V.K. DUBEY
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.1704/Del/2020 (ASSESSMENT YEAR 2006-07) M/s. Prakash Industries Ltd., Nr. IOCL Depot Najafgarh Bijwasan Road Bijwasan New Delhi-110 061 PAN : AABCP 6765H Vs. ACIT, Hisar Haryana (Appellant) (Respondent) Assessee by Ms. Ayushi Gupta, Advoate Department by Sh. V.K. Dubey, Sr. DR Date of Hearing 17/01/2024 Date of Pronouncement 19/01/2024 ORDER PER YOGESH KUMAR U.S., JM: This appeal filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals), Rohtak, [“Ld. CIT(A)”, for short], dated 05/08/2020 for Assessment Year 2006-07. 2. The Ld. Counsel for the assessee submitted that addition made by the AO has been deleted by the Tribunal in the quantum appeal in ITA No.349/Del/2010 for A.Y.2006-07, therefore, the 2 ITA No1704/Del/2020 M/s. Prakash Industries Ltd. vs. ACIT Page 2 of 3 penalty proceedings initiated pursuant to the additions made in the assessment is liable to be set aside. The Ld. Counsel for the assessee has also produced the order of the Co-ordinate Bench dated 05/01/2024 in ITA No.349/Del/2010. The Ld. DR has not disputed the above facts. 3. Considering the fact that the Co-ordinate Bench vide order dated 05/01/2024 in ITA No.349/Del/2010 deleted the addition in the quantum appeal, the consequential penalty order is also liable to be quashed. Accordingly, the appeal is allowed and the impugned penalty order and the order of the Ld. CIT(A) are hereby set aside. 4. In the result, the appeal filed by the assessee is allowed. Order pronounced in open Court on 19 th January, 2024. Sd/- Sd/- (NARENDRA KUMAR BILLAIYA) (YOGESH KUMAR U.S.) ACCOUNTANT MEMBER JUDICIAL MEMBER Dat ed: 19/01/2024 PK/Sr. PS Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI 3 ITA No1704/Del/2020 M/s. Prakash Industries Ltd. vs. ACIT Page 3 of 3 Draft dictated 17/01/2024 Draft placed before author 17/01/2024 Approved Draft comes to the Sr.PS/PS 18/01/2024 Order signed and pronounced on 19/01/2024 File sent to the Bench Clerk 19/01/2024 Date on which file goes to the AR Date on which file goes to the Head Clerk. Date of dispatch of Order. Date of uploading on the website 19/01/2024