PROMA INDUSTRIES LTD., MUMBAI V. ITO-10(3)(4), MUMBAI

ITA 1787/MUM/2020

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 4005 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-04-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 07-09-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL CHAUDHARY (JUDICIAL MEMBER) ITA No. 1787/MUM/2020 Assessment Year: 2010-11 Proma Industries Limited, 1803, Lodha Supremes, Saki Vihar Road, Opp. MTNL Exchange, Powai, Mumbai-400072. Vs. Income Tax Officer-10(3)(4), Room No. 554, 5 th floor, Aayakar Bhavan, M.K. Road, Mumbai-400020. PAN No. AAACP 6230 G Appellant Respondent Assessee by : None Revenue by : Mr. B.K. Bagchi, DR Date of Hearing : 25/04/2022 Date of pronouncement : 25/04/2022 ORDER PER OM PRAKASH KANT, AM This appeal has been preferred by the assessee against the order dated 11.03.2020 passed by the Ld. Commissioner of Income Tax (Appeals)-17, Mumbai [in short ‘the Ld. CIT(A)’] in relation with penalty u/s 271(1)(c) of the Income Tax Act (in short ‘the Act’) levied by the Assessing Officer. The grounds raised by the assessee are reproduced as under : Proma Industries Ltd. ITA No. 1787/M/2020 2 1. Under the facts and circumstances of the case and law, the Ld. CIT(A) erred in confirming penalty u/s 271(1)(c) of Rs.3,89,569/- made by the Assessing Officer. 2. At the outset, the Ld. Counsel of the assessee submitted that issue in dispute has been settled under Vivad Se Vishwas Scheme and therefore, the assessee seeks to withdraw the appeal. 3. The Ld. Departmental Representative (DR) did not object. The request of the assessee withdrawing appeal has been placed on the file. 3.1 In view of the above, the assessee is allowed to withdraw its appeal and accordingly same is dismissed as withdrawn. 4. In the result, the appeal of the assessee is dismissed. Order pronounced in the open Court on 25/04/2022. Sd/- Sd/- (RAHUL CHAUDHARY) (OM PRAKASH KANT) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated: 25/04/2022 Rahul Sharma, Sr. P.S. Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. The CIT(A)- 4. CIT Proma Industries Ltd. ITA No. 1787/M/2020 3 5. DR, ITAT, Mumbai 6. Guard file. BY ORDER, //True Copy// (Sr. Private Secretary) ITAT, Mumbai