ITO 9(1)(2), MUMBAI V. BILPOWER LTD, MUMBAI

ITA 3316/MUM/2010

• Counselvise Citation: 331619914 RSA 2010
• Duration Of Justice: 1 year(s) 1 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2011
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: H
• Next Hearing Date: 25-05-2011
• Assessment Year: 2000-2001
• Appeal Filed On: 28-04-2010
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: R C JAIN

Judgement Text

1 ITA NO. 3316/MUM/2010 (ASST YEAR 2001-01) IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI MUMBAI MUMBAI MUMBAI H HH H BENCH BENCH BENCH BENCH MUMBAI BENCHES, MUMBAI MUMBAI BENCHES, MUMBAI MUMBAI BENCHES, MUMBAI MUMBAI BENCHES, MUMBAI BEFORE SHRI BEFORE SHRI BEFORE SHRI BEFORE SHRI J SHDUAKAR REDDY, J SHDUAKAR REDDY, J SHDUAKAR REDDY, J SHDUAKAR REDDY, AM & AM & AM & AM & SHRI SHRI SHRI SHRI VIJAY PAL RAO, JM VIJAY PAL RAO, JM VIJAY PAL RAO, JM VIJAY PAL RAO, JM ITA NO. ITA NO. ITA NO. ITA NO. 3316/MUM/2010 3316/MUM/2010 3316/MUM/2010 3316/MUM/2010 (ASST YEAR (ASST YEAR (ASST YEAR (ASST YEAR 2001 2001 2001 2001- -- -01 0101 01) )) ) THE DY COMMR OF INCOME TAX RANE 9(1), MUMBAI VS M/S BILPOWER LTD 201-204 VIKAS CHAMEBRS 2 ND FLOOR JUNCTIONOF LINK & MARVE ROAD MALAD (W), MUMBAI ( (( (APPELLANT APPELLANT APPELLANT APPELLANT) )) ) (RESPONDENT) (RESPONDENT) (RESPONDENT) (RESPONDENT) PAN NO. PAN NO. PAN NO. PAN NO.AABCB 1857G AABCB 1857G AABCB 1857G AABCB 1857G A SSESSEE BY SHRI R C JAIN REVENUE BY SHRI GOLI SRINIVAS RAO PER PER PER PER VIJAY VIJAY VIJAY VIJAY PA PAPA PAL RAO L RAO L RAO L RAO, , , , JM JMJM JM THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER DATED 3.2.2010 OF THE CIT(A) ARISING FROM THE PENALTY ORD ER U/S 271(1)( C) RELATING TO ASSESSMENT YEAR 2000-01 2 THE REVENUE HAS RAISED THE FOLLOWING GROUNDS IN T HIS APPEAL: 1 ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E AND IN LAW, THE LD CIT(A) ERRED IN DELETING THE PENALTY LEVIED OF RS. 6,05970/- U/S 271(1)(C) OF THE ACT IGNORING THE FACT THAT THE ASSESSEE HAD FUR NISHED INACCURATE PARTICULARS OF ITS INCOME AS ENVISAGED IN THE PROVI SIONS OF SEC. 271(1)(C) OF THE I T ACT, 1961. 2 THE APPELLANT PRAYS THAT THE ORDER O THE CIT(A0 O N THE GROUNDS BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RES TORED. 2 WE HAVE HEARD THE LD DR AS WELL AS THE LD AR OF T HE ASSESSEE AND CONSIDERED THE RELEVANT MATERIAL AVAILABLE ON RECOR D. AT THE OUTSET, WE FIND THAT THE QUANTUM APPEAL FILED BY THE ASSESSEE HAS BEEN S ET ASIDE BY THE TRIBUNAL TO THE RECORDS OF THE ASSESSING OFFICER VIDE ORDER DAT ED 8.4.2011 IN ITA 2 ITA NO. 3316/MUM/2010 (ASST YEAR 2001-01) NO.7370/MUM/2005. IN VIEW OF THE FACT THAT THE QUA NTUM MATTER HAS BEEN SET ASIDE TO THE FILE OF THE ASSESSING OFFICER, THE VER Y BASIS OF LEVY OF PENALTY IS NO MORE IN EXISTENCE. ACCORDINGLY, WE SET ASIDE THE ISSUE OF PENALTY TO THE RECORDS OF THE ASSESSING OFFICER TO TAKE AN APPROPRIATE ACT ION, IF NECESSARY, AS PER THE OUTCOME OF THE QUANTUM PROCEEDINGS. WE HOLD AND DI RECT ACCORDINGLY. 3 IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED ON THE 31 ST DAY OF MAY 2011. SD/- SD/- ( (( ( J SUDHAKAR J SUDHAKAR J SUDHAKAR J SUDHAKAR REDDY REDDY REDDY REDDY ) )) ) ACCOUNTANT MEMBER ( (( ( VIJAY PAL RAO VIJAY PAL RAO VIJAY PAL RAO VIJAY PAL RAO ) )) ) JUDICIAL MEMBER PLACE: MUMBAI : DATED: 31 ST MAY 2011 RAJ* COPY FORWARDED TO: 1 APPELLANT 2 RESPONDENT 3 CIT 4 CIT(A) 5 DR /TRUE COPY/ BY ORDER DY /AR, ITAT, MUMBAI