Eggro Finance & Investment Private Ltd., Lucknow V. Dy. Commissioner of Income Tax, Lucknow

ITA 309/LKW/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4675 (ITAT-LUCKNOW)
• Duration Of Justice: 9 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-03-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 23-02-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 15-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: K R RASTOGI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A , LUCKNOW BEFORE SHRI S UNIL KUMAR YADAV , JUDICIAL MEMBER AND SHRI. A. K. GARODIA , ACCOUNTANT MEMBER ITA NO. 309/LKW/2015 ASSESSMENT YEAR: 2010 - 11 EGGRO FINANCE & INVESTMENT PRIVATE LIMITED LUCK NOW V. DY. CIT RANGE 2 LUCKNOW T AN /PAN : AAACE4883G (APP ELL ANT) (RESPONDENT) APP ELL ANT BY: SHRI. K. R. RASTOGI, C.A. RESPONDENT BY: SHRI. AMIT NIGAM, D.R. DATE OF HEARING: 23 02 201 6 DATE OF PRONOUNCEMENT: 03 03 201 6 O R D E R PER SUNIL KUMAR Y ADAV: THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) CONFIRMING THE PENALTY LEVIED UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961. 2 . DURING THE COURSE OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE HAS INVITED OUR ATTENTION THAT THE QUANTUM APPEAL , IN WHICH THE ADDITIONS , FOR WHICH PENALTY WAS LEVIED, WAS SENT BACK TO THE LD. CIT(A) FOR RE - ADJUDICATION OF ALL THE ISSUES. IN THE LIGHT OF THESE FACTS, THE ORDER OF THE LD. CIT(A) IN PENALTY APPEAL SHOULD ALSO BE SET ASIDE AND MAY BE RESTORED BACK TO THE LD. CIT(A) TO PASS A FRESH ORDER IN THE LIGHT OF HIS DECISION IN RESPECT OF ADDITIONS TO BE MADE FOR WHICH PENALTY IS LEVIED. 3 . THE LD. D.R. DID NOT DISPUTE THESE SUBMISSIONS OF THE LD. COUNSEL FOR THE ASSESSEE. : - 2 - : 4 . HAVING HEARD THE R IVAL SUBMISSIONS AND FROM A PERUSAL OF RECORD, WE ARE ALSO OF THE VIEW THAT SINCE THE QUANTUM APPEAL HAS BEEN RESTORED TO THE LD. CIT(A) FOR RE - ADJUDICATION OF THE ISSUES ON ALL THE ADDITIONS FOR WHICH PENALTY IS LEVIED, THIS APPEAL SHOULD ALSO BE ALLOWED AND THE MATTER MAY BE RESTORED TO THE FILE OF THE LD. CIT(A) TO PASS A FRESH ORDER IN THE LIGHT OF HIS FINDINGS WITH RESPECT TO THE ADDITIONS ON WHICH PENALTY IS BEING LEVIED. ACCORDINGLY, THE APPEAL OF THE ASSESSEE STANDS ALLOWED FOR STATISTICAL PURPOSES . 5 . IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENT I ONED ON THE CAPTION ED PAGE. SD/ - SD/ - [ A. K. GARODIA ] [ S UNIL KUMAR Y ADAV ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATE D: 3 RD 1 . APPELLANT MARCH , 2016 JJ: 2402 COPY FORWARDED TO: 2 . RESPONDENT 3 . CIT(A) 4 . CIT 5 . DR ASSISTANT REGISTRAR