ACIT, MUMBAI V. DR. RAKESH Y SINHA, MUMBAI

ITA 2383/MUM/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 49638 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-07-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 05-05-2011
• Assessment Year: 2003-2004
• Appeal Filed On: 26-03-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C G K NAIR
• Keywords: Retraction
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, D, MUMBAI BEFORE SHRI R V EASWAR, PRESIDENT AND SHRI RAJENDRA SINGH, ACCOUNTANT MEMBER I T A NO: 2383/MUM/2010 (ASSESSMENT YEAR: 2003-04) ASSISTANT COMMISSIONER OF INCOME TAX 11(3) APPELL ANT MUMBAI VS DR RAKESH Y SINHA, MUMBAI RESPONDENT (PAN: AAGPS2577L) ASSESSEE BY: NONE REVENUE BY: MR C G K NAIR DATE OF HEARING: 21.07.2011 DATE OF PRONOUNCEMENT: 29.07.2011 O R D E R R V EASWAR, PRESIDENT: THE FOLLOWING GROUNDS HAVE BEEN TAKEN BY THE REVEN UE IN THIS APPEAL: - 1. ON FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) ERRED IN CANCELLING THE PENALTY LEVIED U/S 271(1)(C) AMOUNTING TO ` 20,47,500/- WITHOUT CONSIDERING THE ISSUE ON MERITS OF THE CASE. 2. ON FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) ERRED IN RELYING ON THE HONBLE ITATS ORDER IN DELETING THE QUANTUM OF ADDITION WITHOUT APPRECIATING THE FACT THAT THE HONBLE ITAT HAD FAILED TO APPRECIATE THAT THE ASSESSEE HAD RETRACTED FROM HIS STATEMENT AFTER ONE AND HALF MONTHS AND THEREFORE SUCH RETRACTION WAS AN AFTER THOUGHT AND THEREBY NOT APPRECIATING THE FACTS OF THE CASE IN THEIR RIGHT PERSPECTIVE. ITA NO: 2383/MUM/2010 2 2. AT THE TIME OF THE HEARING IT HAS BEEN BROUGHT T O OUR NOTICE THAT THE CIT(A) HAS ONLY FOLLOWED THE ORDER OF THE TRIBUNAL IN ITA NO: 4564, BY WHICH THE ADDITIONS THAT HAVE GIVEN RI SE TO THE PENALTY WERE DELETED. HE HAS HELD THAT SINCE THE ADDITIONS HAVE BEEN DELETED THERE IS NO QUESTION OF LEVY OF PENALTY. T HERE IS NO INFIRMITY IN THE ORDER OF THE CIT(A) CANCELLING THE PENALTY S INCE THE ADDITIONS HAVE BEEN DELETED BY THE TRIBUNAL. WE ACCORDINGLY CONFIRM THE ORDER OF THE CIT(A) AND DISMISS THE APPEAL FILED BY THE REVENUE. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH JULY 2011. SD/- SD/- (RAJENDRA SINGH) (R V EASWAR) ACCOUNTANT MEMBER PRESIDE NT MUMBAI, DATED 29 TH JULY 2011 SALDANHA COPY TO: 1. DR RAKESH Y SINHA BEAMS HOSPITAL, 674, 16 TH CROSS ROAD BEHIND KHAR GYMKHANA, KHAR (WEST), MUMBAI 400 052 2. ACIT 11(3), MUMBAI 3. CIT-11, MUMBAI 4. CIT(A)-2, MUMBAI 5. DR D BENCH TRUE COPY BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI