Randeep Investment Pvt. Ltd., New Delhi V. ITO, Ward- 21(1), New Delhi

ITA 4463/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9028 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 1 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2006-2007
• Appeal Filed On: 12-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUSHMA SINGH
• Section: 271(1)(c)

Judgement Text

I.T.A.NO.4463/DEL/2018/A.Y.2006-07 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH F NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER . . /. I.T.A NO.4463/DEL/2018 / ASSESSMENT YEAR:2006-07 RANDEEP INVESTMENT P. LTD. C/O SANDEEP SAPRA, ADVOCATES, C-763, NEW FRIENDS COLONY, NEW DELHI. VS. ITO WARD 21(1) NEW DELI. PAN NO. AACCR0988D APPELLANT / RESPONDENT /ASSESSEE BY NONE /REVENUE BY SMT. SUSHMA SINGH, CIT DR / DATE OF HEARING: 1 1 .0 8 .20 2 1 /PRONOUNCEMENT ON 11 .0 8 .20 2 1 /O R D E R PER MADHUMITA ROY, J.M. 1. THE INSTANT APPEAL FILED BY THE ASSESSEE IS DIRECTE D AGAINST THE ORDER DATED 25.04.2018 PASSED BY THE LD. CIT(A)-7, NEW DELHI ARISING OUT OF THE ORDER DATED 20.03.2017 PASSED BY THE LD. ITO, WARD 21(1), NEW DELHI U/S 271(1)(C) OF THE INCOME T AX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR AY 2006- 07, WHEREBY AND I.T.A.NO.4463/DEL/2018/A.Y.2006-07 2 WHEREUNDER THE PENALTY TO THE TUNE OF RS. 9,51,900/ - AS LEVIED BY THE LD. ASSESSING OFFICER AGAINST THE ASSESSEE HAS BEEN CONFIRMED. 2. AT THE TIME OF HEARING OF THE INSTANT APPEAL, THE L D. COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED BEFORE US THAT THE QUANTUM APPEAL PREFERRED BY THE REVENUE BEFORE THE LD. TRIB UNAL AGAINST THE ORDER PASSED BY THE LD. CIT(A) HAS BEEN DISMISS ED BY AND UNDER THE ORDER DATED 26.03.2019 IN ITA NO. 4365/DEL/2015 FOR AY 2006- 07. THE CROSS APPEAL PREFERRED BY THE APPELLANT BE ING ITA NO. 4000/DEL/2015 WAS ALSO ALLOWED BY THE SAID COMMON O RDER DATED 26.03.2019 PASSED BY THE LD. TRIBUNAL. IN THAT VIE W OF THE MATTER, THE PENALTY ARISING OUT OF THE QUANTUM ORDER HAS BE COME INFRUCTUOUS. A COPY OF THE SAID ORDER DATED 26.03. 2019 HAS BEEN PLACED ON RECORD BEFORE US BY THE APPELLANT. 3. HEARD THE PARTIES PERUSED THE RECORDS INCLUDING THE ORDER DATED 26.03.2019 PASSED BY THE CO-ORDINATE BENCH IN ITA N O. 4365/DEL/2015 AND ITA NO. 4000/DEL/2015 FOR AY 2006 -07 WHICH SUPPORTS THE CONTENTION MADE BY THE LD. AR. I.T.A.NO.4463/DEL/2018/A.Y.2006-07 3 4. THUS, HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE, WE FIND THE PENALTY APPEAL HAS BECOME INFRUCTUOUS AND HENCE, DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 11/08/2021. SD/- SD/- (N.K. BILLAIYA) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 11 TH AUGUST, 2021 * KAVITA ARORA, SR. P.S. COPY OF ORDER SENT TO- ASSESSEE/AO/PR. CIT/ CIT (A) / ITAT (DR)/GUARD FILE OF ITAT. BY ORDER ASSISTANT REGISTRAR, ITAT: DELHI BENCHES-DELHI