ITO 2(2)(3), MUMBAI V. MACKINNON MACKENZIE & COMPANY LTD, MUMBAI

ITA 3815/MUM/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0037 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-06-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 22-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SAURABH KUMAR PAI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH I , MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD , JUDICIAL MEMBER ITA NO. 3815 /MUM/ 2015 : A.Y : 2007 - 08 ITO - 2(2)(3), MUMBAI (APPELLANT) VS. M/S. MACKINNON MACKENZIE & CO. LTD., 4, SHAPOORJI VALLABHDAS MARG, BALLARD ESTATE, MUMBAI 400038 (RESPONDENT) PAN : AA ACM7394L APPELLANT BY : SHRI SAURABH KUMAR PAI RESPONDENT BY : SHRI SASHI TULSIYAN DATE OF HEARING : 0 7 / 06 /201 7 DATE OF PRONOUNCEMENT : 30 /0 6 /201 7 O R D E R PER G.S. PANNU , AM : THE CAPTIONED APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE CIT(A) - 5 , MUMBAI DATED 24 .3.2015 , PERTAINING TO THE ASSESSMENT YEAR 200 7 - 0 8 , WHICH IN TURN HAS ARISEN FROM THE ORDER PASSED BY THE ASSESSING OFFICER DATED 2 2 .3.201 3 UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). 2. THE SOLITARY ISSUE INVOLVED IN THIS APPEAL ARISES OUT OF THE ACTION OF CIT(A) IN DELETIN G THE PENALTY LEVIED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE ACT FOR CONCEALING PARTICULARS OF INCOME. 2 ITA NO. 3815/MUM/2015 M/S. MACKINNON MACKENZIE & CO. LTD. 3. BEFORE US, AT THE OUTSET, THE LEARNED REPRESENTATIVE FOR THE RESPONDENT - ASSESSEE POINTED OUT THAT THE PENALTY IN THE PRESENT CASE IS ANYWAY UNS USTAINABLE BECAUSE SUBSEQUENT TO THE DECISION OF THE CIT(A), THE TRIBUNAL VIDE ITS ORDER IN ITA NO. 2392/MUM/2012 DATED 11.5.2017 HAS DELETED THE ADDITION S ON THE BASIS OF WHICH ASSESSING OFFICER HAD LEVIED THE PENALTY. 4. THE LD. DR APPEARING FOR THE REV ENUE HAS NOT CONTESTED THE FACT - SITUATION CANVASSED BY THE ASSESSEE AND, THEREFORE, WE HEREBY AFFIRM THE ULTIMATE DECISION OF CIT(A) IN DELETING THE PENALTY, ALBEIT ON A DIFFERENT GROUND. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 3 0 T H JUNE, 2017. SD/ - SD/ - ( RAVISH SOOD ) JUDICIAL MEMBER ( G.S. PANNU ) ACCOUNTANT MEMBER MUMBAI, DATE : 3 0 T H JUNE , 201 7 * SSL * COPY TO : 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, I BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI