Sanjiv Gupta, New Delhi V. ACIT, Circle- 30, New Delhi

ITA 2670/DEL/2018

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0773 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 15-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘B’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI YOGESH KUMAR US, JUDICIAL MEMBER ITA No.2670/Del./2018 (ASSESSMENT YEAR : 2008-09) Sanjiv Gupta, vs. ACIT, Circle 30, 56A/1, New Friends Colony (E), New Delhi. New Delhi. (PAN : ABVPG5653P) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri V.K. Garg, Advocate REVENUE BY : Ms. Sapna Bhatia, CIT DR Date of Hearing : 31.08.2022 Date of Order : 31.08.2022 ORDER PER SHAMIM YAHYA, ACCOUNTANT MEMBER : This appeal by the assessee is directed against the order of the ld. CIT (Appeals)-30, New Delhi dated 12.03.2018 for the Assessment Year 2008-09. 2. The issue raised is that ld. CIT (A) erred in confirming the levy of penalty under section 271(1)(c) of the Income-tax Act, 1961 (for short ‘the Act’) on account of amount of addition on account of accrual/interest on deposit in alleged foreign bank account, HSBC Geneva. ITA No.554/Del./2021 2 3. At the outset in this case, ld. counsel of the assessee stated that the addition which is the basis for the levy of penalty has already been deleted by the ld. CIT (A) vide order dated 02.06.2022. Hence, he submitted that the penalty levied with reference to addition which has been deleted is liable to be deleted. 4. Per contra, ld. DR for the Revenue did not dispute the proposition that the addition of interest with reference to what penalty has been levied has already been deleted. 5. Hence, upon careful consideration on a proposition that the addition by reference to which the penalty has been levied has already been deleted, the penalty confirming order of ld. CIT (A) is liable to be set aside. Accordingly, we set aside the order of ld. CIT (A) and direct that the penalty be deleted. 6. In the result, the assessee’s appeal is allowed. Order pronounced in the open court on this 31 st day of August, 2022 after the conclusion of hearing. Sd/- sd/- (YOGESH KUMAR US) (SHAMIM YAHYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated the 31 st day of August, 2022 TS ITA No.554/Del./2021 3 Copy forwarded to: 1.Appellant 2.Respondent 3.CIT 4.CIT(A). 5.CIT(ITAT), New Delhi. AR, ITAT NEW DELHI.