ACIT, New Delhi V. M/s. Thyssen Krupp Elevator (India) Pvt. Ltd., New Delhi

ITA 2402/DEL/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 96889 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Next Hearing Date: 29-07-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 18-05-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: J P CHANDREKARSR
• Assessee Lawyers: RAMAN BHATIA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : H NEW DELHI BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO: 2402/DEL/2012 ASSTT. YEAR : - 2003-04 ACIT VS. THYSSEN KRUPP ELEVATOR (INDIA) PVT. LTD. CIRCLE -16(1) (FORMERLY THYS SEN KRUPP ECE ELEVATOR PVT.LTD.) NEW DELHI. PLOT NO. 330, FUNCTIONAL INDUSTRIAL ESTATE, PATPARGAN J, NEW DELHI 110 092 (PAN AABC T6921F) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI J.P. CHANDREKAR,SR. DR RESPONDENT BY :SHRI RAMAN BHATIA, ADVOCATE DATE OF HEARING : 29.7.2015 DATE OF PRONOUNCEMENT : 1 1.8. 2015 O R D E R PER G.C. GUPTA, VICE PRESIDENT THIS APPEAL BY THE REVENUE FOR THE ASSESSMENT YEAR 2003-04 IS DIRECTED AGAINST THE ORDER OF THE CIT(A). THE ONLY GROUND OF APPEAL OF THE REVENUE IS AS UNDER :- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LEARNED CIT(A) ERRED DELETING PENALTY OF RS. 89,90,226/- IM POSED U/S 271(1)(C) OF THE I.T. ACT, 1961. 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ADDITION MADE IN THE ASSESSMENT CASE OF THE ASSESSEE FOR THE RELEVANT AS SESSMENT YEAR 2003-04 HAS BEEN DELETED IN APPEAL BY THE TRIBUNAL IN ITA NOS. 153,1 54/DEL/2008 DATED 29.8.2014. THEREFORE, THERE REMAINS NO BASIS IN IMPOSITION OF PENALTY U/S 271(1)(C) OF THE ACT. THE LD. DR HAS RELIED ON ORDER OF THE AO. ITA NO.2402/DEL/2012 ACIT VS. THYSSEN KRUPP ELEVATOR (INDIA) 2 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERUSED THE ORDER OF THE AO AND CIT(A). IN THE QUANTUM APPEAL OF THE ASSESSE E THE VERY ADDITIONS MADE IN THE CASE OF THE ASSESSEE FOR THE RELEVANT ASSESSMEN T YEAR 2003-04 HAS BEEN DELETED BY THE TRIBUNAL VIDE ITS ORDER DATED 29.8.2014 (SUP RA), WE HOLD THAT THERE REMAINS NO BASIS FOR IMPOSITION OF PENALTY U/S 271(1)(C) OF THE ACT AND ACCORDINGLY THE GROUND OF APPEAL OF THE REVENUE IS DISMISSED. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11. 8. 2015. SD/- SD/- (J. SUDHAKAR REDDY) (G.C. GUPTA) ACCOUNTANT MEMBER VICE PRESIDE NT DATED: THE 11.8.2015 VEENA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR 6. GUARD FILE BY ORDER DY. REGISTRAR SL. NO. DESCRIPTION DATE 1. DATE OF DICTATION BY THE AUTHOR 29.7.2015 2. DRAFT PLACED BEFORE THE DICTATING MEMBER 30.7.2 015 ITA NO.2402/DEL/2012 ACIT VS. THYSSEN KRUPP ELEVATOR (INDIA) 3 3. DRAFT PLACED BEFORE THE SECOND MEMBER 4. DRAFT APPROVED BY THE SECOND MEMBER 5. DATE OF APPROVED ORDER COMES TO THE SR. PS 6. DATE OF PRONOUNCEMENT OF ORDER 7. DATE OF FILE SENT TO THE BENCH CLERK 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER