Agroha Fincap Ltd, New DELHI V. ITO Ward 1(4), Dehli

ITA 1975/DEL/2022

AI Insights

The case involves M/s Agroha Fincap Ltd., the appellant, contesting a penalty imposed under section 271(1)(c) of the Income Tax Act by the National Faceless Appeal Centre (NFAC) for the Assessment Year 2011-12. The penalty was originally levied due to certain quantum additions made during the assessment. However, these additions were later deleted by the Tribunal in a separate appeal (ITA No.8305/Del/2019). Consequently, the basis for the penalty no longer existed, leading to the Tribunal's decision to delete the penalty.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 121776 (ITAT-DELHI)
• Duration Of Justice: 11 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 19-07-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 23-08-2022
• Other Referred Cases: ITA No.8305/Del/2019
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SURAJ
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘A’: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER ITA No.1975/DEL/2022 [Assessment Year: 2011-12] M/s Agroha Fincap Ltd. C-1, Mahendru Enclave, G.T. Karnal Road, New Delhi-110033 Vs Addl./Joint/Deputy/ACIT/ITO, National Faceless Asst. Centre, (NFAC), New Delhi PAN-AAACA807G Assessee Revenue Assessee by Sh. Suraj, Adv. Revenue by Sh. Kanv Bali, Sr. DR Date of Hearing 20.07.2023 Date of Pronouncement 25.07.2023 ORDER PER SHAMIM YAHYA, AM, This appeal by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), New Delhi, dated 22.07.2022 pertaining to Assessment Year 2011-12, in which penalty u/s 271(1)(c) has been sustained. 2. At the outset before us, the ld. Counsel for the assessee submitted that the quantum addition in this case has been already deleted by the Tribunal vide order dated 26.05.2023 in ITA No.8305/Del/2019 for AY 2011-12. Hence, this penalty u/s 271(1)(c) levied with reference to those additions does not survive. 2 ITA No.1975//Del/2022 3. Per Contra, the ld. Departmental Representative could not rebut this proposition. 4. Accordingly, since quantum addition has been deleted by the Tribunal, the penalty appeal with respect to those additions does not survive and hence, penalty is deleted. 5. In the result, the appeal filed by the assessee stands allowed. Order pronounced in the open court on 25 th July, 2023. Sd/- Sd/- [YOGESH KUMAR US] [SHAMIM YAHYA] JUDICIAL MEMBER ACCOUNTANT MEMBER Delhi; 25.07.2023. f{x~{tÜ? f{x~{tÜ?f{x~{tÜ? f{x~{tÜ? Copy forwarded to: 1. Assessee 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi