DCIT CIR 3(1), MUMBAI V. DEEPAK C. MEHTA, MUMBAI

ITA 4045/MUM/2008

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7475 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 12-03-2010
• Assessment Year: 1997-1998
• Appeal Filed On: 06-06-2008
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: CHANDRA RAMKRISHNAN
• Assessee Lawyers: S V JOSHI
• Keywords: Set aside
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'D' BENCH, MUMBAI BEFORE SHRI R.K. GUPTA, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA NO. 4045/MUM/2008 (ASSESSMENT YEAR: 1997-98) DCIT, CIRCLE 3(1) MR. DEEPAK C. MEHTA ROOM NO. 607, AAYAKAR BHAVAN KEJRIWAL HOUSE, 7-N, G AMADIA M.K. ROAD, MUMBAI 400020 VS. ROAD, MUMBAI 400026 PAN AAHPM 6688 F APPELLANT RESPONDENT APPELLANT BY: SHRI CHANDRA RAMKRISHNAN RESPONDENT BY: SHRI S.V. JOSHI O R D E R PER B. RAMAKOTAIAH, A.M. THIS APPEAL BY THE REVENUE IS AGAINST THE ORDER OF THE CTA XXVIII, MUMBAI DATED 05.03.2008 CANCELLING THE PENALTY LEVIED UNDE R SECTION 271(1)(C). 2. AT THE OUTSET THE LEARNED COUNSEL FAIRLY CONCEDED T HAT OUT OF THE FOUR ISSUES CONSIDERED IN THE QUANTUM ASSESSMENT THE HON 'BLE ITAT IN ITA NO. 4673/MUM/2005 DATED 16.12.2009 HAS SET ASIDE THE IS SUE BACK TO THE FILE OF THE A.O. AND ON ONE ISSUE IT WAS DECIDED AGAINST ASSESSEE. HE HAS NO OBJECTION IF THE PENALTY ORDER IS ALSO SET ASIDE TO THE FILE OF THE A.O. FOR RECONSIDERING THE ISSUE AFTER DECIDING THE QUANTUM ADDITIONS. 3. KEEPING IN VIEW OF THE FACT THAT MOST OF THE ISSUES ARE RESTORED TO THE FILE OF AO IN THE QUANTUM PROCEEDINGS, THE ORDERS O F THE A.O. AND THE CIT(A) UNDER SECTION 271(1)(C) ARE SET ASIDE AND THE PROCE EDINGS ARE RESTORED BACK TO THE FILE OF THE A.O. TO DECIDE IT AFRESH AFTER C OMPLETING THE ASSESSMENT PROCEEDINGS. 4. IN THE RESULT, APPEAL OF THE REVENUE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH MARCH 2010. SD/- SD/- (R.K. GUPTA) (B. RAMAKOTAIAH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 19 TH MARCH 2010 ITA NO. 4045/MUM/2008 MR. DEEPAK C. MEHTA 2 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) XXVIII, MUMBAI 4. THE CIT III, MUMBAI CITY 5. THE DR, D BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.