JAGATKUMAR & CO. P.LTD, MUMBAI V. ITO 2(2)(1), MUMBAI

ITA 3881/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3088 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: J
• Assessment Year: 1995-1996
• Appeal Filed On: 23-06-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: R M MADHAVI
• Assessee Lawyers: RAMESH B GANDHI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL J B ENCH, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER / I .TA NO. 3881/MUM2015 ( / ASSESSMENT YEAR: 2011-11 M/S. JAGKUMAR & CO. PVT. LTD., PROSPECT CHAMBERS ANNEXE, 317/21, LD. DEPARTMENTAL REPRESENTATIVE. D.N. ROAD, FORT, MUMBAI-400 001 / VS. THE ITO WARD - 2(2), MUMBAI ./ ./ PAN/GIR NO. AAACJ 1367N ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY: SHRI RAMESH B. GANDHI / RESPONDENT BY: MS. R.M. MADHAVI / DATE OF HEARING :27.09.2016 ! / DATE OF PRONOUNCEMENT : 27 .09.2016 / O R D E R PER C.N. PRASAD, JM: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A)-5, MUMBAI DATED 09.03.2015 ARISING OUT OF T HE PENALTY ORDER PASSED U/S. 271(1)(C) OF THE ACT PERTAINING TO ASSE SSMENT YEAR 1995- 96. 2. AT THE TIME OF HEARING ONE MR. RAMESH B. GANDHI, THE ACCOUNTANT OF THE ASSESSEE COMPANY APPEARED AND FIL ED A COPY OF THE ITA NO.3881/M.2015 2 ORDER OF THE CO-ORDINATE BENCH WHICH DISPOSED OFF T HE QUANTUM APPEAL IN ITA NOS. 6151 TO 6153 & 6123/M/2011 DATED 6.11.2015. HE SUBMITS THAT IN VIEW OF THE ORDER OF THE CO-ORDI NATE BENCH IN QUANTUM PROCEEDINGS, THE PENALTY APPEAL MAY ALSO BE DECIDED ACCORDINGLY. 3. THE LD. DEPARTMENTAL REPRESENTATIVE SUBMITS THAT IN QUANTUM PROCEEDINGS, THE TRIBUNAL REMITTED THE MATTER TO TH E FILE OF THE ASSESSING OFFICER TO DECIDE THE ISSUES AS PER THE D IRECTIONS GIVEN BY THE TRIBUNAL IN ORDER DATED 28.4.2009. 4. HEARD BOTH PARTIES AND PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WE HAVE ALSO PERUSED THE ORDER OF THE CO-OR DINATE BENCH IN QUANTUM PROCEEDINGS AND FIND THAT THE CO-ORDINATE B ENCH RESTORED THE MATTER TO THE FILE OF THE ASSESSING OFFICER TO DECIDE THE ISSUES STRICTLY AS PER THE DIRECTIONS GIVEN IN THE ORDER O F THE TRIBUNAL DATED 28.4.2009. IN THE CIRCUMSTANCES, WE SET ASIDE THE P ENALTY ORDER AND RESTORE TO THE FILE OF THE ASSESSING OFFICER. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH SEPTEMBER, 2016. SD/- SD/- (N.K. PRADHAN) (C.N. PRASAD ) / ACCOUNTANT MEMBER $ % /JUDICIAL MEMBER MUMBAI; ( DATED 27 TH SEPTEMBER, 2016 . % . ./ RJ , SR. PS ITA NO.3881/M.2015 3 !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ) ( ) / THE CIT(A)- 4. ) / CIT 5. *+ ,%%-. , -.! , / DR, ITAT, MUMBAI 6. , /01 / GUARD FILE. / BY ORDER, *% //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI