Perfect Agro Mills Pvt. Ltd., Punjab V. ITO, New Delhi

ITA 362/DEL/2014

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 4207 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 11 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-01-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 18-07-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 20-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: PANKAJ BHALLA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH F, NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO.362/DEL/2014 ASSESSMENT YEAR : 2006-07 PERFECT AGRO MILLS PVT. LTD., B- XVII, 245, BHARAT NAGAR, LUDHIANA, PUNJAB. VS. ITO, WARD- 14(2), NEW DELHI. PAN : AAACP8891P (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI PANKAJ BHALLA, CA DEPARTMENT BY : SHRI ATIQ AHMAD, SR.DR DATE OF HEARING : 03-01-2018 DATE OF PRONOUNCEMENT : 03-01-2018 O R D E R PER R. K. PANDA, AM : THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER DATED 01.11.2013 OF CIT(A)- XVII, DELHI RELATING TO ASSES SMENT YEAR 2006-07. 2. LEVY OF PENALTY OF RS.20,11,913/- U/S 271(1)(C) OF THE I.T. ACT, 1961 MADE BY THE ASSESSING OFFICER AND SUSTAINED BY THE LD. CIT(A) IS THE ONLY ISSUE RAISED BY THE ASSESSEE IN THE GROUNDS OF APPEAL. 3. LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMI TTED THAT THE TRIBUNAL VIDE ITA NO.2672/DEL/2010 ORDER DATED 04.10.2017 HAS RES TORED THE QUANTUM ADDITION TO THE FILE OF THE ASSESSING OFFICER FOR F RESH ADJUDICATION. THEREFORE, 2 ITA NO.362/DEL/2014 THIS ISSUE SHOULD ALSO BE RESTORED TO THE FILE OF T HE ASSESSING OFFICER FOR FRESH ADJUDICATION. 4. LD. DR HAS NO OBJECTION FOR THE SAME. 5. SINCE THE QUANTUM ADDITION HAS ALREADY BEEN SET- ASIDE TO THE FILE OF THE ASSESSING OFFICER FOR FRESH ADJUDICATION, THEREFORE , THE PENALTY LEVIED BY THE ASSESSING OFFICER AND SUSTAINED BY THE LD. CIT(A) D OES NOT SURVIVE. HOWEVER, THE ASSESSING OFFICER MAY INITIATE FRESH PENALTY PR OCEEDINGS AFTER PASSING OF THE ASSESSMENT ORDER IN THE LIGHT OF THE DIRECTION OF T HE TRIBUNAL IN THE QUANTUM APPEAL. THUS, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ITSELF I.E. ON THIS 03 RD JANUARY, 2018. SD/- SD/- (SUCHITRA KAMBLE) (R. K. P ANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 03-01-2018. SUJEET COPY OF ORDER TO: - 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT 4) THE CIT(A) 5) THE DR, I.T.A.T., NEW DELHI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, NEW DELHI