AKG Consultants Pvt. Ltd., Kanpur V. DCIT, New Delhi

ITA 2803/DEL/2014

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 7366 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 1 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-06-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC 2
• Next Hearing Date: 14-06-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 06-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N J SINGH

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH SMC-2 NEW DELHI BEFORE SHRI S.V. MEHROTRA : ACCOUNTANT MEMBER ITA NS. 2803/DEL/2014 ASSTT. YR: 2004-05 AKG CONSULTANTS PRIVATE LIMITED, VS. DCIT CENTRAL CIR. 8, (FORMERLY AKG CONSULTANTS LTD.) NEW DELHI. 14, RATAN MAHAL, 15/197, CIVIL LINES, KANPUR-208001. PAN: AABCA 7844 C ( APPELLANT ) (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY : SHRI N.J. SINGH SR. DR DATE OF HEARING : 14/06/2016. DATE OF ORDER : 23/06/2016. O R D E R THIS IS ASSESSEES APPEAL AGAINST THE ORDER DATE D 18.02.2014, PASSED BY THE LD. CIT(A)-XXXII, NEW DELHI IN APPEAL NO. 63 /12-13, CONFIRMING THE ACTION OF AO IN LEVYING PENALTY U/S 271(1)(C) OF TH E I.T. ACT, RELATING TO AY 2004-05. 2. SOLE EFFECTIVE GROUND RAISED IS AS UNDER: BECAUSE THE LEARNED CIT(A) HAS ERRED ON FACTS AND IN LAW IN CONFIRMING THE PENALTY OF RS. 5,45,879/- U/S 271(1) (C) OF THE INCOME TAX ACT, 1961. 3. BRIEF FACTS OF THE CASE ARE THAT AO HAD PASSED T HE ASSESSMENT ORDER U/S 143(3)/ 263, DETERMINING THE TOTAL INCOME AT RS. 44 ,92,854/- AS AGAINST THE DECLARED INCOME OF RS. 29,76,811/-. THE AO HAD ALSO INITIATED PENALTY PROCEEDINGS U/S 271(1)(C) AND LEVIED PENALTY OF RS. 5,45,879/- VIDE PENALTY 2 ORDER DATED 29.6.2012. THE PENALTY HAS BEEN CONFIRM ED BY LD. CIT(A). AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE THE ITA T. 4. NONE PUT IN APPEARANCE ON BEHALF OF THE ASSESSEE AT THE HEARING. I PROCEED TO DISPOSE OF THE APPEAL, EX PARTE, QUA THE ASSESSEE ON MERITS AND IN THAT PROCESS I HAVE HEARD LD. DR AND PERUSED THE MA TERIAL AVAILABLE ON RECORD INCLUDING THE WRITTEN SUBMISSIONS FILED ON BEHALF O F THE ASSESSEE. 5. ALONG WITH WRITTEN SUBMISSIONS, THE ASSESSEE HA S FILED ON RECORD COPY OF ORDER U/S 154/153 PASSED BY THE AO ON 23.4.2015, DETERMINING THE TOTAL INCOME AT RS. 29,76,810/-. IT IS SUBMITTED THAT SIN CE THE ASSESSEES INCOME IS EQUIVALENT TO RETURNED INCOME, THE PENALTY IN QUEST ION IS NOT SUSTAINABLE. 6. HAVING HEARD LD. DR AND GOING THROUGH THE MATERI AL AVAILABLE ON RECORD, I FIND THAT FACTS ARE NOT DISPUTED AND SIN CE THE ASSESSED AND RETURNED INCOME ARE SAME, THERE IS NO BASIS FOR LEVY OF PENA LTY U/S 271(1)(C) OF THE I.T. ACT. ACCORDINGLY, THE IMPUGNED PENALTY, LEVIED BY AO AND CONFIRMED BY LD. CIT(A) U/S 271(1)(C), IS CANCELLED. 7. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCEMENT IN OPEN COURT ON 23/06/2016. SD/- (S.V. MEHROTRA) ACCOUNTANT MEMBER DATED: 23/06/2016. *MP* COPY OF ORDER TO: 1. ASSESSEE 2. AO 3. CIT 4. CIT(A) 5. DR, ITAT, NEW DELHI.