Shree Radhey Technologies Pvt. Ltd., New Delhi V. ACIT, New Delhi

ITA 1761/DEL/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 6234 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 4 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-08-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2005-2006
• Appeal Filed On: 23-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Assessee Lawyers: S K CHATURVEDI
• Keywords: Set aside
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES G : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI ANADEENATH MISSHRA, ACCOUNTANT MEMBER ITA.NO.1761/DEL./2017 ASSESSMENT YEAR 2005-2006 SHREE RADHEY TECHNOLOGIES PRIVATE LIMITED, 1/18-B, ASAF ALI ROAD, NEW DELHI PIN 11002 PAN AAHCS5469H VS. THE ACIT, CIRCLE - 14, NEW DELHI. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI S.K. CHATURVEDI, C.A. FOR REVENUE : SHRI S.S. RANA, CIT - D.R. DATE OF HEARING : 01 .0 8 .201 9 DATE OF PRONOUNCEMENT : 06 .0 8 .201 9 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-8, NEW DELHI, DATED 07.12.2016, FOR THE A.Y. 2005-2006, CHALLENGING THE LEVY OF PENALTY UNDER SECTION 271(1)(C) OF THE I.T. ACT, 1961. 2. BRIEFLY THE FACTS OF THE CASE ARE THAT THE A.O. PASSED THE ASSESSMENT ORDER UNDER SECTION 153C OF THE I.T. 2 ITA.NO.1761/DEL./2017 SHREE RADHEY TECHNOLOGIES PRIVATE LIMITED, NEW DELHI. ACT DATED 31.03.2009 MAKING ADDITION OF RS.2 LAKHS ON ACCOUNT OF SALE CONSIDERATION WHICH THE ASSESSEE HAS NOT ACCOUNTED FOR. THE A.O. AT THIS STAGE MADE ADDITION AND LEVIED THE PENALTY UNDER SECTION 271(1)(C) OF THE I.T. ACT. THE LD. CIT(A) DISMISSED THE APPEAL OF ASSESSEE. 3. LEARNED COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMITTED THAT ITAT, DELHI G-BENCH IN THE CASE OF THE SAME ASSESSEE FOR THE ASSESSMENT YEAR UNDER APPEAL IN ITA.NO.3227/DEL./2013 VIDE ORDER DATED 06.04.2018 HAS SET ASIDE THE ORDERS OF THE AUTHORITIES BELOW AND ALLOWED THE APPEAL OF ASSESSEE. THE ADDITION, THEREFORE, STANDS DELETED. COPY OF THE ORDER IS PLACED ON RECORD. THE LD. D.R. DID NOT DISPUTE THE SAME. 4. IN VIEW OF THE ABOVE FACTS IT IS CLEAR THAT THE ADDITION ON WHICH PENALTY HAVE BEEN IMPOSED UNDER SECTION 271(1)(C) OF THE I.T. ACT HAVE BEEN DELETED BY THE TRIBUNAL, THEREFORE, NOTHING LEFT FOR THE REVENUE SO AS TO LEVY THE PENALTY AGAINST THE ASSESSEE. WE, ACCORDINGLY, SET ASIDE THE ORDERS OF THE AUTHORITIES BELOW AND CANCEL THE PENALTY. 3 ITA.NO.1761/DEL./2017 SHREE RADHEY TECHNOLOGIES PRIVATE LIMITED, NEW DELHI. 5. IN THE RESULT, APPEAL OF ASSESSEE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (ANADEENATH MISSHRA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DELHI, DATED 06 TH AUGUST, 2019 VBP/- COPY TO 1. THE APP ELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT G BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR : ITAT DELHI BENCHES : DELHI.