Bhushan Steel Ltd., New Delhi V. ACIT, Central Circle-3 , New Delhi

ITA 4648/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9558 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-07-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 21-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATPAL GULATI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. K.NARASIMHA CHARY, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) ITA NO.4648 & 4649/DEL/2018 ASSESSMENT YEAR: 2009-10 & 2010- 11 BHUSHAN STEEL HYATT REGENCY COMPLEX, BHIKAJI CAMA PLACE, NEW DELHI PAN NO. AAACB1247M VS ACIT CENTRAL CIRCLE-3 NEW DELHI (APPELLANT) (RESPONDENT) APPELLANT BY SH. ASHWANI KUMAR, CA SH. RAHUL CHAURASIA, CA SH. BHAVNESH JINDAL, CA RESPONDENT BY SH. SATPAL GULATI, CIT DR DATE OF HEARING: 28/07/2021 DATE OF PRONOUNCEMENT: 28/07/2021 ORDER PER N. K. BILLAIYA, AM: ITA NO. 4648/DEL/2018 AND 4649/DEL/2018 THE CAPTIO NED TWO APPEALS ARE BY THE ASSESSEE PREFERRED AGAINST T HE ORDER OF THE 2 CIT(A)-23, NEW DELHI DATED 29.12.2017 PERTAINING TO A.Y. 2009- 10 AND 2010-11. 2. SINCE COMMON GRIEVANCE IS INVOLVED IN BOTH THES E APPEALS THEY WERE HEARD TOGETHER AND ARE DISPOSED OF BY THI S COMMON ORDER FOR THE SAKE OF CONVENIENCE AND BREVITY. 3. THE COMMON GRIEVANCE IN BOTH THESE APPEALS RELAT E TO THE LEVY OF PENALTY U/S.271(1)(C) OF THE ACT AMOUNTING TO RS.84,24,32,000/- IN A.Y.2009-10 AND RS.23,96,46,00 0/- IN A.Y.2010-11. 4. AT THE VERY OUTSET, THE COUNSEL FOR THE ASSESSEE POINTED OUT THAT THE QUANTUM ADDITIONS ON THE BASIS OF WHICH TH E IMPUGNED PENALTIES HAVE BEEN LEVIED IN THE CAPTIONED ASSESSM ENT YEARS HAVE BEEN DELETED BY THE TRIBUNAL. 5. PER CONTRA THE DR FAIRLY CONCEDED TO THIS. 6. WE HAVE CAREFULLY CONSIDERED THE ORDERS OF THE A UTHORITIES BELOW AND THE DECISION OF THIS TRIBUNAL IN ITA NO.1 600/DEL/2018 AND 1491/DEL/2018 FOR A.Y.2009-10 AND 1601/DEL/2018 AND 1492/DEL/2018 FOR A.Y.2010-11. 3 7. WE FIND FORCE IN THE CONTENTION OF THE COUNSEL T HE COORDINATE BENCH IN ITS JUDGMENT (SUPRA) HAS DELETED THE QUANT UM ADDITIONS. THE RELEVANT FINDINGS OF THE TRIBUNAL READ AS UNDER :- 4 5 6 8. SINCE THE FOUNDATION HAS BEEN REMOVED THE SUPERS TRUCTURE MUST FALL. THE AO IS DIRECTED TO DELETE THE PENALT Y SO LEVIED IN BOTH THE ASSESSMENT YEARS UNDER CONSIDERATION. 9. IN THE RESULT, BOTH THE APPEALS FILED BY THE ASS ESSEE ARE ALLOWED. 10. DECISION ANNOUNCED IN THE OPEN COURT IN THE PR ESENCE OF BOTH THE REPRESENTATIVES ON 28.07.2021. SD/- SD/- ( K.NARASIMHA CHARY ) (N. K. BILLAIYA) JUDICIAL MEMBER A CCOUNTANT MEMBER *NEHA* DATE:-28.07.2021 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGI STRAR ITAT NEW DELHI 7 DATE OF DICTATION 2 8 .07.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 2 8 .07.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 2 8 .07.2021 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS 2 8 .07.2021 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 2 8 .07.2021 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 2 8 .07.2021 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 2 8 .07.2021 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER