ITO 6(1)(1), MUMBAI V. RAJESH D. VAIDYA, MUMBAI

ITA 4073/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2907 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Next Hearing Date: 21-07-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 21-05-2013
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3); 68

Judgement Text

1 I.T.A. NO.4073 &4074 /MUM/2013 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI BEFORE SHRI JOGINDER SINGH(JUDICIAL MEMBER) AND SHRI ASHWANI TANEJA (ACOUNTANT MEMBER) I.T.A. NO.4073/MUM/2013 (ASSESSMENT YEAR : 2006-07) & I.T.A. NO.4074/MUM/2013 (ASSESSMENT YEAR : 2006-07) ITO 6(1)-1, MUMBAI VS SHRI RAJESH D VAIDYA 210/B1, OM JAI LAXMI CO-OP HOUSING SOCIETY, OPP SION HOSPITAL, SION (E), MUMBAI-22 PAN : AAACI2043Q (APPELLANT) (RESPONDENT) APPELLANT BY SHRI RAKESH RANJAN RESPONDENT BY NONE DATE OF HEARING : 20-06-2016 DATE OF PRONOUNCEMENT : 24-06-2016 O R D E R PER ASHWANI TANEJA, AM THESE APPEALS PETRTAIN TO SAMER ASSESSEE. FIRST WE SHALL TAKE UP REVENUES APPEAL IN ITA NO.4073/MUM/2013 FOR A.Y. 2 006-07. THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF COMM ISSIONER OF INCOME-TAX 2 I.T.A. NO.4073 &4074 /MUM/2013 (APPEALS) [HEREINAFTER CALLED LD.CITA)] DT 28-02-20 13 AGAINST THE ASSESSMENT ORDER U/S 143(3) FOR A.Y.2006-07. 2. DURING THE COURSE OF HEARING IT HAS BEEN BROUGHT TO OUR NOTICE THAT TAX EFFECT INVOLVED IN THIS CASE IS LESS THAN RS.10 LAK HS. THE LD.DR CONFIRMED THIS FACT. UNDER THESE CIRCUMSTANCES, WE FIND THAT APPE AL FILED BY THE REVENUE IS NOT MAINTAINABLE IN VIEW OF CIRCULAR NO.21 OF 2015 OF CBDT DT 10-12-2015. THUS, THE APPEAL OF THE REVENUE BEING NOT MAINTAINA BLE , IS HEREBY DISMISSED. OUR ORDER SHOULD HAVE NO BEARING ON MERITS OF THE C ASE. 3. NOW WE SHALL TAKE UP APPAL FILED BY THE REVENUE IN ITA NO.4074/MUM/2013 PASSED AGAINST ORDER OF LD.CIT(A) DT 28-2-2013 PASSED AGAINST PENALTY U/S 271(1)(C) FOR A.Y. 2006-07. 4. IT IS NOTED THAT THE ASSESSING OFFICER HAD LEVIE D PENALTY OF RS.10 LAKHS U/S 271(1)(C) WHICH WAS DELETED BY THE LD.CIT(A) ON THE GROUND THAT ADDITION MADE IN THE ASSESSMENT ORDER U/S 68 AMOUNTING TO RS.2,58 ,404 ON WHICH PENALTY WAS LEVIED, WAS DELETED BY THE LD.CIT(A). IT IS NOTED BY US THAT APPEAL FILED BY THE REVENUE IN THE QUANTUM HAS BEEN DISMISSED IN OUR OR DER AS DISCUSSED ABOVE. THUS, AS ON DATE, THE QUANTUM ADDITION STANDS DELET ED. THUS, THERE ARE NO BASIS TO CONTINUE WITH THE PENALTY LEVIED BY THE AS SESSING OFFICER. UNDER THESE CIRCUMSTANCES, WE FIND THAT THE LD.CIT(A) HAS RIGHT LY DELETED THE PENALTY AND HIS ORDER IS CONFIRMED. 3 I.T.A. NO.4073 &4074 /MUM/2013 5. IN THE RESULT, APPEALS FILED BY THE REVENUE ARE DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE CONCLUSIO N OF HEARING. SD/- SD/- (JOGINDER SINGH) (ASHWANI TANEJA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DT : 24 TH JUNE, 2016 PK/- COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. THE CIT 5. THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE , D-BENCH (TRUE COPY) BY ORDER ASSTT.REGISTRAR, ITAT, MUMBAI BENCHES