DY CIT - 26(1), MUMBAI V. M/S. LAXMI INDUSTRIAL ESTATE, MUMBAI

ITA 471/MUM/2021

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 7512 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-11-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 30-03-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: REEPAL G TRALSHAWALA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA No.471/Mum/2021 (Asse ssment Year :2013-14) & ITA No.472/Mum/2021 (Asse ssment Year :2012-13) Dy. Commissioner of Income Tax-26(1) Room No.623, 6 th Floor Kautilya Bhavan Bandra Kurla Complex Bandra East Mumbai – 400 051 Vs. M/s. Laxmi Industrial Estate Plot No.99, Prabhu Niwas Jawahar Nagar, Road No.10 Goregaon West Mumbai – 400 062 PAN/GIR No. AAAFL1382N (Appellant) .. (Respondent) Revenue by Shri. Reepal G Tralshawala Assessee by Mr Mehul Jain, Sr AR Date of Hearing 24/11/2021 Date of Pronouncement 26/11/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): These appeals in ITA No.471/Mum/2021 & 472/Mum/2021 for A.Yrs.2013-14 & 2012-13 respectively arises out of the order by the ld. Commissioner of Income Tax (Appeals)-42, Mumbai in appeal No.CIT(A)- 42, Mumbai/10026/2019-20 & CIT(A)-42, Mumbai/10025/2019-20 ITA No.471 & 472/Mum/2021 M/s. Laxmi Industrial Estate 2 respectively dated 20/01/2020 (ld. CIT(A) in short) in the matter of imposition of penalty u/s.271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as Act). 2. The only issue to be decided in these appeals of the Revenue is that whether the concealment penalty u/s.271(1)(c) of the Act would survive when the quantum addition has been deleted by the Tribunal vide order dated 21/11/2019. We find that the ld. CIT(A) had taken due cognizance of the fact that the quantum addition has been deleted by this Tribunal and on that ground, he has held that no penalty would survive. In these circumstances, we do not deem it fit to narrate the entire facts of the case and basis for making addition which inturn consequentially had been subjected to levy for penalty u/s.271(1)(c) of the Act. Once, the quantum addition is deleted by this Tribunal which fact is also accepted by the Revenue, then, the levy of concealment penalty u/s.271(1)(c) of the Act would have no legs to stand. Hence, we do not find any infirmity in the order of the ld. CIT(A) deleting the penalty for both the years. Accordingly, the grounds raised by the Revenue are dismissed. 3. In the result, both the appeals of the Revenue are dismissed. Order pronounced on 26/ 11 /2021 by way of proper mentioning in the notice board. Sd/- (AMARJIT SINGH) Sd/- (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 26/11/2021 KARUNA, sr.ps ITA No.471 & 472/Mum/2021 M/s. Laxmi Industrial Estate 3 Copy of the Order forwarded to : BY ORDER, (Asstt. Registrar) ITAT, Mumbai 1. The Appellant 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy//