M/s. D.S. Doors (P) Ltd., New Delhi V. ACIT, Faridabad

ITA 33/DEL/2014

• Counselvise Citation: 3320114 RSA 2014
• Duration Of Justice: 1 year(s) 6 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-07-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 30-03-2016
• Assessment Year: 2002-2003
• Appeal Filed On: 03-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K K JAISWAL
• Assessee Lawyers: TARUN KUMAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : SMC NEW DELHI BEFORE SHRI G.C. GUPTA, VICE PRESIDENT ITA NO: 33/DEL/2014 AY : - 2002-03 M/S. D.S. DOORS (P) LTD. VS. ACIT 11/7, MATHURA ROAD, CENTRAL CIRCLE-1, FARIDABAD. FARIDABAD (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI TARUN KUMAR, ADVOCATE RESPONDENT BY : SHRI K.K. JAISWAL, SR. DR DATE OF HEARING : 1.6.2015 DATE OF PRONOUNCEMENT :3.7.2 015 O R D E R PER G.C. GUPTA, VICE PRESIDENT THIS APPEAL BY THE ASSESSEE FOR THE ASSESS MENT YEAR 2002-03 IS DIRECTED AGAINST THE ORDER OF THE CIT(A). THE ONLY EFFECTIVE GROUND OF THE APPEAL OF THE ASSESEE NO. 1 WHICH IS REPRODUCED AS UNDER :- 1. THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCE S OF THE CASE, LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN CONFIRM ING THE ACTION OF LD. AO IN LEVYING PENALTY OF RS. 7,64,530/- U/S 271 (1)(C) AND THAT TOO @200% WITHOUT ASSUMING JURISDICTION AS PER LAW AND WITHOUT APPRECIATING THE FACTS THAT IMPUGNED PENALTY HAS BE EN IMPOSED ONLY ON THE BASIS OF ESTIMATES, PRESUMPTIONS AND DI FFERENCE OF OPINION BETWEEN THE DVO, LD. AO AND ASSESSE. 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ADDITION ON THE BASIS OF WHICH THE PENALTY U/S 271(1)(C) WAS LEVIED HAS BEEN DELE TED IN APPEAL BY THE TRIBUNAL IN THE CASE OF THE ASSESEE IN ITA NO. 1986 TO 1991 AND 2053/D/2011 FOR THE ASSESSMENT YEARS 2001-02 TO 2007-08 DATED 12.3.2015 . HE SUBMITTED THAT THE ENTIRE ADDITION MADE FOR THE RELEVANT YEAR ON ACCOU NT OF DIFFERENCE BETWEEN THE VALUE OF CONSIDERATION SHOWN AND AS DETERMINED BY T HE DVO WAS DELETED BY THE ITA NO. 33/DEL/2014 M/S. D.S. DOORS (P) LTD. VS. ACIT 2 TRIBUNAL AND THE GROUND OF APPEAL WAS DECIDED IN FA VOUR OF THE ASSESSEE. LD. DR COULD NOT CONTROVERT THE SUBMISSIONS OF THE LD. COU NSEL FOR THE ASSESSEE. 3. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERUSED THE ORDER OF THE AO AND CIT(A) AND ALSO THE ORDER OF THE TRIBUNAL IN AS SESSEES OWN CASE DATED 12.3.2015 (SUPRA). I FIND THAT THE VERY BASIS OF TH E IMPOSITION OF PENALTY U/S 271(1)(C) DOES NOT EXIST AS THE ADDITION ON ACCOUNT OF UNDISCLOSED INVESTMENT IN CONSTRUCTION ON THE BASIS OF THE DVOS REPORT WAS D ELETED BY THE TRIBUNAL IN APPEAL OF THE ASSESEE FOR THE RELEVANT ASSESSMENT YEAR 200 2-03 VIDE ITS ORDER DATED 12.3.2015 (SUPRA). ACCORDINGLY I HOLD THAT THE PENA LTY IMPOSED U/S 271 (1)(C) OF THE ACT COULD NOT BE SUSTAINED AND IS ACC ORDINGLY CANCELLED AND THE GROUND OF THE APPEAL OF THE ASSESSEE IS ALLOWED. 4. IN THE RESULT APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 3. 7.2015. SD/- (G.C . GUPTA) VICE PRESIDENT DATED: THE 3.7.2015 *VEENA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR 6. GUARD FILE BY ORDER DY. REGISTRAR ITA NO. 33/DEL/2014 M/S. D.S. DOORS (P) LTD. VS. ACIT 3 SL. NO. DESCRIPTION DATE 1. DATE OF DICTATION BY THE AUTHOR 1.6.2015 2. DRAFT PLACED BEFORE THE DICTATING MEMBER 1.6.2015 3. DRAFT PLACED BEFORE THE SECOND MEMBER 4. DRAFT APPROVED BY THE SECOND MEMBER 5. DATE OF APPROVED ORDER COMES TO THE SR. PS 6. DATE OF PRONOUNCEMENT OF ORDER 7. DATE OF FILE SENT TO THE BENCH CLERK 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER