M/S. PERFECT CIRCLE INDIA LTD ( ERSTWHILE PERFECT CIRCLE VICTOR LTD), MUMBAI V. M/S. ACIT CIR 5(2), MUMBAI

ITA 2425/MUM/2008

• Counselvise Citation: 242519914 RSA 2008
• Duration Of Justice: 3 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-05-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 03-05-2011
• Assessment Year: 2000-2001
• Appeal Filed On: 08-04-2008
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SANTOSH PARAB
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI, J. SUDHAKAR REDDY, ACCOUNTANT MEMBER A ND SMT. ASHA VIJAYRAGHAVAN, JUDICIAL MEMBER ITA NO. 2425/MUM./2008 (ASSESSMENT YEAR : 2000-01 ) DATE OF HEARING: 5.5.2011 PERFECT CIRCLE INDIA LIMITED (ERSTWHILE PERFECT CIRCLE VICTOR LTD.) 10, PRASAD CHAMBERS, OPERA HOUSE MUMBAI 400 004 AAACP0482E .. APPELLANT V/S ASSTT. COMMISSIONER OF INCOME TAX CIRCLE-5(2), AAYAKAR BHAVAN 101, M.K. ROAD, MUMBIA 400 020 .... RESPONDENT ITA NO. 2210/MUM./2008 (ASSESSMENT YEAR : 2000-01 ) DATE OF HEARING: 5.5.2011 ASSTT. COMMISSIONER OF INCOME TAX CICLE-5(2), AAYAKAR BHAVAN 101, M.K. ROAD, MUMBIA 400 020 .. APPELLANT V/S PERFECT CIRCLE INDIA LIMITED (ERSTWHILE PERFECT CIRCLE VICTOR LTD.) 10, PRASAD CHAMBERS, OPERA HOUSE MUMBAI 400 004 AAACP0482E .... RESPONDENT ASSESSEE BY : MR. SANTOSH PARAB REVENUE BY : MR. R.K. GUPTA PERFECT CIRCLE INDIA LTD. ITA NO.2425 & 2210/MUM./2008 2 O R D E R PER J. SUDHAKAR REDDY, A.M. THESE CROSS APPEALS ARE DIRECTED AGAINST THE IMPUGN ED ORDER DATED 8 TH JANUARY 2008, PASSED BY THE COMMISSIONER (APPEALS)- V, MUMBAI, FOR ASSESSMENT YEAR 2000-01. 2. WE HAVE HEARD THE LEARNED COUNSEL, MR. SANTOSH PARA B, APPEARING ON BEHALF OF THE ASSESSEE AS WELL AS THE LEARNED DEPAR TMENTAL REPRESENTATIVE, MR. R.K. GUPTA. ON A CAREFUL CONSIDERATION OF THE F ACTS AND CIRCUMSTANCES OF THE CASE AND A PERUSAL OF THE PAPERS ON RECORD AND THE ORDERS OF THE AUTHORITIES BELOW, WE ARE OF THE OPINION THAT, SINC E THE CO-ORDINATE BENCH OF THIS TRIBUNAL, VIDE ORDER DATED 15 TH APRIL 2009, RESTORED THE ASSESSEES QUANTUM APPEAL IN ITA NO.6192/MUM./2005, FOR ASSESS MENT YEAR 2000-01, TO THE FILE OF THE COMMISSIONER (APPEALS) FOR DENOV O ADJUDICATION ON MERITS, CONSEQUENTLY, WE SET ASIDE THE IMPUGNED PENALTY ORD ER PASSED BY THE COMMISSIONER (APPEALS) AND DIRECT HIM TO DECIDE THE APPEALS ON MERITS AFTER PROVIDING ADEQUATE OPPORTUNITY OF BEING HEARD TO TH E ASSESSEE AND IN ACCORDANCE WITH LAW. 3. IN THE RESULT, CROSS APPEALS ARE ALLOWED FOR STATIS TICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 13.5.2011. SD/- ASHA VIJAYRAGHAVAN JUDICIAL MEMBER SD/- J. SUDHAKAR REDDY ACCOUNTANT MEMBER MUMBAI, DATED: 13.5.2011 COPY TO : (1) THE ASSESSEE (2) THE RESPONDENT (3) THE CIT(A), MUMBAI, CONCERNED (4) THE CIT, MUMBAI CITY CONCERNED (5) THE DR, C BENCH, ITAT, MUMBAI TRUE COPY BY ORDER PRADEEP J. CHOWDHURY ASSISTANT REGISTRAR SR. PRIVATE SECRETARY ITAT, MUMBAI BENCHES, MUMBAI