PRAKASH KHETANI, MUMBAI V. ACIT RG 25(2), MUMBAI

ITA 2889/MUM/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7758 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-02-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2003-2004
• Appeal Filed On: 06-05-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D SONGATE
• Assessee Lawyers: M SUBRAMANIAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH C,MUMBAI BEFORE SHRI R.V.EASWAR,SR.VICE PRESIDENT& SHRI T. R.SOOD (A.M) ITA NO.2889/MUM/2009(A.Y.2003-04) SHRI PRAKASH KHETANI, PROP. M/S. K.K.ASSOCIATES, A-303, SIDHIVINAYAK PLAZA, CHIKUWADI, SIMPOLI VILLAGE, PAN: AFJPK 9964P (APPELLANT) VS. THE ACIT RG. 25(2), C-11, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI 51. (RESPONDENT) APPELLANT BY : SHRI M.SUBRAMANIAN RESPONDENT BY : SHRI. D.SONGATE ORDER PER T.R.SOOD, A.M, THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF LD. CIT(A) XXV, MUMBAI DATED 9/3/2009 FOR THE ASSESSMENT YEAR 2003- 04. IN THIS APPEAL THE ASSESSEE HAS RAISED THE FOLLOWING GROUND:- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE HONBLE COMMISSIONER OF INCOME TAX (APPEALS) XXV, MUMBAI ER RED IN CONFIRMING THE PENALTY U/S. 271(1)(C) LEVIED BY THE LEARNED ASSESS ING OFFICER TO THE TUNE OF RS. 1,29,150/- WHICH YOUR HONOUR IS PRAYED TO DELETE AN D OBLIGE. 2. AT THE TIME OF HEARING LD. COUNSEL FOR THE ASSES SEE FURNISHED A COPY OF THE ORDER OF THE TRIBUNAL IN ITA NO.3143/MUM/06, WHEREIN THE QUANTUM ITSELF WAS DELETED BY THE TRIBUNAL AND, THEREFORE, HE SUBMITTED THAT PENALTY WILL NOT SURVIVE. 3. ON THE OTHER HAND, LD. D.R RELIED ON THE ORDERS OF THE LOWER AUTHORITIES. 4. AFTER CONSIDERING THE RIVAL SUBMISSIONS WE FIND THAT ADDITION MADE BY THE A.O ON WHICH PENALTY HAS BEEN LEVIED HAS ALREADY BEEN DELE TED BY THE TRIBUNAL IN THE QUANTUM ITA NO.2889/M/09(A.Y.2003-04) 2 APPEAL DECIDED IN ITA NO.3143/M/06 AND, THEREFORE, PENALTY WILL NOT SURVIVE. IN THE CIRCUMSTANCES WE SET ASIDE THE ORDER OF LD. CIT(A) AND DELETE THE PENALTY. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED ON THE 10 TH DAY OF FEB.2010. SD/- SD/- (R.V.EASWAR) (T.R.SOOD) SR. VICE PRESIDENT ACC OUNTANT MEMBER MUMBAI, DT. 10TH FEB.2010 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3 . THE CIT(A)CONCERNED 4. THE CIT,CONCERNED. 5. THE D.RC BENCH. (TRUE COPY) BY ORDER ASST. REGISTRAR, I TAT, MUMBAI BENCHES MUMBAI. VM. ITA NO.2889/M/09(A.Y.2003-04) 3 DETAILS DATE INITIALS DESIGNATION 1 DRAFT DICTATED ON 9/2/2010 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 10/2/2010 SR.PS/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7. FILE SENT TO THE BENCH CLERK SR.PS/PS 8 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER ITA NO.2889/M/09(A.Y.2003-04) 4