ITO, New Delhi V. M/s. Mahavir Concast Ltd., New Delhi

ITA 4189/DEL/2014

• Counselvise Citation: 418920114 RSA 2014
• Duration Of Justice: 1 year(s) 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC 1
• Next Hearing Date: 30-09-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 30-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S L ANURAGI
• Assessee Lawyers: RAJESH KUMAR JAIN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : SMC-I : NEW DELHI BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER ITA NO.4189/DEL/2014 ASSESSMENT YEAR : 2007-08 ITO, WARD-6(1), NEW DELHI. VS. MAHAVIR CONCAST LTD., 143, JAGRITI ENCLAVE, NEW DELHI. PAN: AADCM7409B (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI RAJESH KUMAR JAIN, CA DEPARTMENT BY : SHRI S.L. ANURAGI, SR. DR DATE OF HEARING : 30. 09.2015 DATE OF PRONOUNCEMENT : 30.09.2015 ORDER THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER PASSED BY THE CIT(A) ON 23.5.2014 CONFIRMING PENALTY OF RS.4,07,2 86/- IMPOSED BY THE AO U/S 271(1)(C) OF THE INCOME-TAX ACT, 1961 (H EREINAFTER ALSO CALLED THE ACT) IN RELATION TO THE ASSESSMENT YEA R 2007-08. ITA NO.4189/DEL/2014 2 2. I HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED T HE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THE SOLE B ASIS FOR IMPOSITION OF PENALTY U/S 271(1)(C) IS THE ADDITION OF RS.12,10,0 00/- MADE BY THE AO ON ACCOUNT OF DISALLOWANCE OF INTEREST. THIS ADDIT ION HAS BEEN FINALLY DELETED BY THE TRIBUNAL IN QUANTUM PROCEEDINGS VIDE ITS ORDER DATED 17.4.2014 IN CO NO.290/DEL/2011. IN VIEW OF THE FA CT THAT THE VERY BEDROCK OF PENALTY, BEING THE ADDITION OF INTEREST HAS BEEN DELETED, THERE REMAINS NO OCCASION FOR CONFIRMING ANY PENALTY. I, THEREFORE, UPHOLD IMPUGNED ORDER IN DELETING THE PENALTY. 3. IN THE RESULT, THE APPEAL IS DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 30.09.20 15. SD/- [R.S. SYAL] ACCOUNTANT MEMBER DATED,30 TH SEPTEMBER, 2015. DK ITA NO.4189/DEL/2014 3 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.