DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(2), MUMBAI V. ORBIT CORPORATION LIMITED(FORMERLY ORBIT BUILDCON AND REALTY PRIVATE LIMITED), MUMBAI

ITA 4739/MUM/2017

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 4085 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 05-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AWUNGSHI GIMSON
• Section: 260A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH C, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJEET SINGH, JUDICIAL MEMBER ITA NO.4739/M/2017 ASSESSMENT YEAR: 2007-08 DCIT, CENT. CIR-8(2), 6 TH FLOOR, ROOM NO.658, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 VS. M/S. ORBIT CORPORATION LTD. (FORMERLY ORBIT BUILDCON & REALTY PVT. LTD.), 165, THE VIEW DR. ANNIE BESANT ROAD, WORLI, MUMBAI 400 018 PAN: AAACO7139M (APPELLANT) (R ESPONDENT) PRESENT FOR: ASSESSEE BY : NONE REVENUE BY : SHRI AWUNGSHI GIMSON, D.R. DATE OF HEARING : 06.03.2019 DATE OF PRONOUNCEMENT : 11.03.2019 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE REVEN UE AGAINST THE ORDER DATED 30.03.2017 OF THE COMMISSIO NER OF INCOME TAX (APPEALS) [HEREINAFTER REFERRED TO AS TH E CIT(A)] RELEVANT TO ASSESSMENT YEAR 2007-08. 2. THE ONLY ISSUE RAISED BY THE REVENUE IS AGAINST THE DELETION OF PENALTY OF RS.15,14,50,800/- ON THE BASIS OF ITA T ORDER DATED 21.03.2016 WHEREIN THE TRIBUNAL HAS ALLOWED THE REL IEF TO THE ASSESSEE IN QUANTUM APPEAL BUT HE REVENUE HAS CHALL ENGED THE DELETION OF PENALTY ON THE GROUND THAT THE ORDER OF ITAT DATED 21.03.2016 IS NOT ACCEPTED AND APPEAL IS PREFERRED BEFORE THE HONBLE HIGH COURT UNDER SECTION 260A OF THE ACT. ITA NO.4739/M/2017 M/S. ORBIT CORPORATION LTD. (FORMERLY ORBIT BUILDCON & REALTY PVT. LTD.) 2 3. AFTER HEARING THE LD. D.R. AND PERUSING THE MATE RIAL ON RECORD AND THE ORDER DATED 21.03.2016, WE FIND THAT THE QUANTUM ADDITION QUA WHICH THIS PENALTY IS LEVIED S TOOD DELETED BY THE CO-ORDINATE BENCH OF THE TRIBUNAL IN THE SAI D ORDER AND THEREFORE THIS PENALTY IMPOSED UNDER SECTION 271(1) (C) OF THE ACT HAS NO LEGS TO STAND AND THEREFORE HAS TO BE DELETE D. ACCORDINGLY, WE DISMISS THE APPEAL OF THE REVENUE. ORDER PRONOUNCED IN THE OPEN COURT ON 11.03.2019. SD/- SD/- ( AMARJEET SINGH) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 11.03.2019. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORDER DY/ASS TT. REGISTRAR, ITAT, MUMBAI.