Shri Rajesh Bhatia, Delhi V. ITO, New Delhi

ITA 1728/DEL/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 4762 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-08-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2002-2003
• Appeal Filed On: 27-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAVIKANT GUPTA
• Assessee Lawyers: K R MANJANI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : F : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER ITA NO.1728/DEL/2015 ASSESSMENT YEAR: 2002-03 RAJESH BHATIA, 5163, KOHLAPUR ROAD, KAMLA NAGAR, DELHI. PAN : AAHPB6307N VS. ITO, WARD-20(1), NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI K.R. MANJANI, ADVOCATE RESPONDENT BY: SHRI RAVI KANT GUPTA, SR.DR DATE OF HEARING : 08.08.2018 DATE OF PRONOUNCEMENT: 09.08.2018 ORDER PER R.S. SYAL, VP: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A) ON 09.12.2014 CONFIRMING PENALTY OF RS.2,10, 000/- IMPOSED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE INCOME-TAX A CT, 1961 (HEREINAFTER ALSO CALLED THE ACT) IN RELATION TO ASSESSMENT YE AR 2002-03. ITA NO.1728/DEL/2015 2 2. WE HAVE HEARD BOTH THE SIDES AND PERUSED THE REL EVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THE ASSESSING OFFICER IMPOSED PENALTY OF RS.2,10,000/- IN RESPECT OF ADDITION OF RS.7 LAC FO R TWO LOANS. THE LD. CIT(A) SUSTAINED THE PENALTY. THE APPEAL OF THE ASS ESSEE AGAINST THE QUANTUM ADDITION CAME UP FOR CONSIDERATION BEFORE T HE TRIBUNAL. VIDE ORDER DATED 24.07.2015 IN ITA NO.2021/DEL/2013, WHO SE COPY HAS BEEN PLACED ON RECORD, THE TRIBUNAL HAS DELETED THE ADDI TION OF RS.7LAC. SINCE THE VERY FOUNDATION OF THE PENALTY, BEING THE ADDIT ION OF RS.7 LAC, CEASES TO EXIST, THERE CAN BE NO QUESTION OF ANY PENALTY. WE , THEREFORE, ORDER TO DELETE THE PENALTY. 3. IN THE RESULT, THE APPEAL FILED BY THE ASS ESSEE IS ALLOWED. THE DECISION WAS PRONOUNCED IN THE OPEN COURT ON 0 9.08.2018. SD/- SD/- [BEENA A. PILLAI] [R.S. SYAL] JUDICIAL MEMBER VICE PRESIDENT DATED: 09.08.2018 DK ITA NO.1728/DEL/2015 3 COPY FORWARDED TO 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR DY. REGISTRAR, ITAT, NEW DELHI