INDIAN WIRE & STEEL PRODUCTS, Kolkata V. ACIT, CIR. 44 , Kolkata

ITA 237/KOL/2021

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 7601 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-03-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 16-08-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RANU BISWAS
• Assessee Lawyers: AVIJIT DEY

Judgement Text

1 ITA No.237/Kol/2021 Indian Wire & Steel Products AY: 2009-10 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA [Before Shri A. T. Varkey, JM & Shri Rajesh Kumar, AM] I.T.A. No. 237/Kol/2021 Assessment Year: 2009-10 Indian Wire & Steel Products (PAN: AAAFI 7079 M) Vs. ACIT, Circle-44, Kolkata Appellant Respondent Date of Hearing (virtual) 16.02.2022 Date of Pronouncement 04.03.2022 For the Appellant Shri Avijit Dey, Advocate For the Respondent Smt. Ranu Biswas, Addl. CITDR ORDER Per Shri A.T.Varkey, JM: This is an appeal preferred by the assessee against the order of Ld. CIT(A)-National Faceless Appeal Centre (NFAC),Delhi dated 12.07.2021 for AY 2009-10. 2. At the outset, the Ld. A.R. of the assessee Shri Avijit Dey drew our attention to the fact of this appeal of the assessee is against the action of the Ld. CIT(A) in confirming the penalty levied by the AO u/s 271(1)(c ) of the Income Tax Act, 1961 (hereinafter referred to as the Act). According to Ld. A.R, the quantum appeal against the addition in the assessment order made by the AO has been deleted by this Tribunal in assessee’s own case in ITA No. 2607/Kol/2018 for AY 2009-10 vide order dated 24.07.2019 by quashing the reopening re- opening of the assessment itself which led to the addition by the AO and drew our attention to page 1 to 6 of PB wherein we note that the assessee’s appeal for AY 2009-10 in respect to the quantum addition made by the AO after reopening the assessment was allowed by this Tribunal quashing the reopening itself. Thus it is noted that the penalty which was levied by the AO stems from the quantum addition made by the AO after reopening the assessment. And since this Tribunal has quashed the reopening the assessment itself, penalty also does 2 ITA No.237/Kol/2021 Indian Wire & Steel Products AY: 2009-10 not survive. Therefore the assessee’s appeal is allowed and the penalty is directed to be deleted. 3. In the result, appeal of the assessee is allowed. Order is pronounced in the open court on 4th March, 2022. Sd/- Sd/- (Rajesh Kumar) (Aby. T. Varkey) Accountant Member Judicial Member Dated: .03.2022 SB, Sr. PS Copy of the order forwarded to: 1. Assessee – Indian Wire & Steel Products, 2 nd Floor, 113A, Manohar Das Katra, Kolkata-700007. 2. Revenue – ACIT, Circle-44, Kolkata 3. CIT(A)-National Faceless Appeal Centre-Delhi 4. CIT, Kolkata. 5. DR, ITAT, Kolkata, (sent through e-mail).. True Copy By Order Assistant Registrar ITAT, Kolkata Bench, Kolkata