MARKS SHIPPING P.LTD, MUMBAI V. ASST CIT CIR 4(2), MUMBAI

ITA 2088/MUM/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 3652 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-04-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 29-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Reassessment proceedings
• Section: 40A(3)

Judgement Text

ITA NO.2088/MUM/2012 M/S MARKS SHIPPING PVT. LTD. 1 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI B. RAMAKOTAIAH, AM AND DR. S.T.M. PAVAL AN, JM ./ I.T.A. NO. 2088 /MUM/2012 ( / / / / ASSESSMENT YEAR :2006-07 M/S MARKS SHIPPING PVT. LTD. NO. 401/402, 4 TH FLOOR, ATLANTA TOWER, SAHAR ROAD ANDHERI (E), MUMBAI. / VS. ASST 4(2), MUMBAI. ! '# ./ PAN : AAACM3202B ( !$ / / / / APPELLANT ) .. ( %&!$ / RESPONDENT ) !$ ' ( ' / APPELLANT BY : SHRI PRAMOD KUMAR PARIDA %&!$ ' ( ' / RESPONDENT BY : SHRI MOHIT JAIN . ' )# / // / DATE OF HEARING : 10.04.2013 *+ ' )# / DATE OF PRONOUNCEMENT : 19.04.2013 ,'- / O R D E R PER B. RAMAKOTAIAH, A.M . : THIS APPEAL IS RAISED BY THE ASSESSEE AGAINST THE LEVY OF PENALTY OF RS. 64,055/- UNDER SECTION 271(1)(C) BY THE AO WHICH WAS CONFIRM ED BY THE CIT(A), MUMBAI VIDE ORDER DATED 18.01.2012. 2. AT THE OUTSET, IT WAS INFORMED THAT ISSUE IN THI S APPEAL LEVYING PENALTY I.E. ADDITION UNDER SECTION 40A(3) AND THE OTHER ISSUES WERE RES TORED TO THE FILE OF THE ASSESSING OFFICER VIDE ORDER OF THE ITAT IN ITA NO. 1408/MUM /2010 DATED 11.04.2012. IN VIEW OF THIS, IT WAS INFORMED THAT THE PENALTY ORDER CANNOT SURVIVE. ITA NO.2088/MUM/2012 M/S MARKS SHIPPING PVT. LTD. 2 3. KEEPING IN VIEW OF THE FACT THAT THE ASSESSMENT ORDER ITSELF WAS SET-ASIDE TO THE FILE OF THE AO, WE CANCEL THE ORDERS UNDER SECTION 271( 1)(C) OF THE AO AND THE ORDER OF CIT(A) AND RESTORE THE PROCEEDINGS U/S 271(C) TO TH E FILE OF AO FOR FRESH CONSIDERATION AFTER COMPLETING THE REASSESSMENT PROCEEDINGS WHICH ARE PENDING BEFORE HIM. 9. IN THE RESULT APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 19.04.2013 . ,'- ' *+ # ' .,/ 19.04.2013 + ' 0 SD/- SD/- ( DR. S.T.M. PAVALAN) ( B.RAMAKOTAIAH) , / JUDICIAL MEMBER '# , / ACCOUNTANT MEMBER MUMBAI ; ., DATED 19 / 04 /2013 ... / ASHISH PS ,'- ' %)BC D'C) ,'- ' %)BC D'C) ,'- ' %)BC D'C) ,'- ' %)BC D'C)/ COPY OF THE ORDER FORWARDED TO : 1. !$ / THE APPELLANT 2. %&!$ / THE RESPONDENT. 3. E ( ) / THE CIT(A)-8, MUMBAI 4. E / CIT 4, MUMBAI 5. CG0 %) , , / DR, ITAT, MUMBAI B 6. 0I J / GUARD FILE. ,'- ,'- ,'- ,'- / BY ORDER, &C) %) //TRUE COPY// K KK K/ // /L M L M L M L M ( DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI