MGCPL-VCBPL (Joint Venture), New Delhi V. ACIT, Circle- 62(1), New Delhi

ITA 3330/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9102 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2010-2011
• Appeal Filed On: 08-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E NEW DLEHI BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER ITA NO. 3330/DEL/2018 ASSESSMENT YEAR: 2010-11 MGCPL-VCBPL (JOINT VENTURE), VS. ACIT, CIRCLE 62(1 ) MITTAL CONSUL & CO., CAS, NEW DELHI 1626/33, 2 ND FLOOR, NAIWALA, KAROL BAGH, NEW DELHI PAN : AAAAM8822B (APPELLANT) (RESPONDENT) APPELLANT BY : SH. P.C. YADAV, ADVOCATE RESPONDENT BY: SH. VIPUL KASHYAP, SR. DR DATE OF HEARING: 09/08/2021 DATE OF ORDER : 09/08/2021 ORDER PER K. NARASIMHA CHARY, J.M. AGGRIEVED BY THE ORDER DATED 14/03/2018 PASSED BY T HE COMMISSIONER OF INCOME TAX (APPEALS)-20, NEW DELHI ('LD. CIT(A)') FOR THE ASSESSMENT YEAR 2010-11, MGCPL-VCBPL (JOINT VEN TURE)(THE ASSESSEE), PREFERRED THIS APPEAL, CHALLENGING THE SUSTENANCE OF PENALTY IMPOSED U/S. 271(1)(C) OF THE INCOME-TAX ACT, 1961. 2. AT THE OUTSET, LEARNED AR SUBMITTED THAT BY ORDE R DATED 01.04.2019 IN ITA NO. 2577/DEL/2015, A CO-ORDINATE BENCH OF THIS TRIBUNAL ALLOWED THE QUANTUM APPEAL OF THE ASSESSEE AND DIRECTED THE 2 ASSESSING OFFICER TO DELETE THE ADDITION, ON ACCOUN T OF WHICH THE IMPUGNED PENALTY IN THIS APPEAL WAS LEVIED. LEARNED DR DOES NOT DISPUTE THIS FACT. 3. SINCE THE QUANTUM APPEAL OF THE ASSESSEE HAS BEE N ALLOWED BY CO- ORDINATE BENCH OF THIS TRIBUNAL, DELETING THE ADDIT ION, ON THE BASIS OF WHICH THE IMPUGNED PENALTY HAS BEEN IMPOSED, THE VE RY BASIS OF IMPOSITION OF SUCH PENALTY STANDS COLLAPSED. ACCORD INGLY, THE APPEAL OF THE ASSESSEE HAS TO BE ALLOWED. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS THE 9 TH DAY OF AUGUST, 2021 JUST AFTER CONCLUSION OF HEARING ON VIRTUAL MO DE. SD/- SD/- (O.P. KANT) (K. NARSIMHA CHARY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 09/08/2021