ITO, Ward- 14(3), New Delhi V. Key Components (P) Ltd., New Delhi

ITA 4777/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0740 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2005-2006
• Appeal Filed On: 23-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER ITA No.4777/Del/2019 Assessment Year: 2005-06 ITO Ward 14 (3) New Delhi Vs Key Components (P) Ltd. 408, Top Floor, Left Side- 01, Shanti Mohalla, Fazalpur, Mandawali, New Delhi PAN No.AADCK2210N (APPELLANT) (RESPONDENT) Appellant Sh. M. Baranwal, CIT DR Respondent None Date of hearing: 31/08/2022 Date of Pronouncement: 31/08/2022 ORDER PER N.K. BILLAIYA, AM: This appeal by the revenue is preferred against the order of the CIT(A)-5, New Delhi dated 20.02.2019 for A.Y.2005-06. 2. The solitary grievance of the revenue is that the CIT(A) erred 2 in deleting the penalty of Rs.69,52,575/- levied by the AO u/s. 271 (1) (c) of the Act. 3. None appeared on behalf of the assessee inspite notice we decided to proceed exparte. The DR was heard at length. Case records carefully perused. 4. Briefly stated the facts of the case are that assessment order u/s. 143 (3) /147 of the Act was passed on 30.03.2013 wherein an addition of Rs.1.90 crores was made u/s. 68 of the Act. The assessee preferred an appeal before the CIT(A) which was dismissed by him by order dated 02.12.2015. The assessee preferred further appeal before the Tribunal and the Tribunal in ITA No.366/Del/2016 order dated 12.02.2019 held as under :- 5. Since the assessment order has been held to be bad in law by this Tribunal (supra) and since the foundation has been 3 removed the super structure i.e. the penalty should also fall. We decline to interfere with the findings of the CIT(A). The appeal filed by the revenue is dismissed. 6. Decision announced in the open court on 31.08.2022. Sd/- Sd/- (ASTHA CHANDRA) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .08.2022 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI Date of dictation 31.08.2022 Date on which the typed draft is placed before the dictating Member 31.08.2022 Date on which the typed draft is placed before the Other member 31.08.2022 Date on which the approved draft comes to the Sr.PS/PS 31.08.2022 Date on which the fair order is placed before the Dictating Member for Pronouncement 31.08.2022 Date on which the fair order comes back to the Sr. PS/ PS 31.08.2022 Date on which the final order is uploaded on the website of ITAT 31.08.2022 Date on which the file goes to the Bench Clerk 31.08.2022 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