ASST CIT CEN CIR 8(4), MUMBAI V. OLEANDER FARMS P.LTD, NAVI MUMBAI

ITA 5246/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3080 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-09-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 06-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A RAMACHANDRAN
• Section: 260A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A, MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI RAMLAL NEGI, JUDICIAL MEMBER ITA NO. 5246/MUM/2015 (ASSESSMENT YEAR 2008-09) THE ACIT, CEN. CIR.8(4), 6 TH FLOOR, ROOM NO.658, AAYKAR BHAVAN,MK ROAD, MUMBAI 400 020 PAN:AAACO 6556G ...... APPELLANT VS. M/S.OLEANDER FARMS PVT. LTD. D-73/1, TTC INDUSTRIAL AREA, MIDC ROAD TURBHE, NAVI MUMBAI 400 705 .... RESPONDENT APPELLANT BY : SHRI A.RAMACHANDRAN RESPONDENT BY : SHRI J.P. BAIRAGRA DATE OF HEARING : 20/09/2016 DATE OF PRONOUNCEMENT : 21/09/2016 ORDER PER G.S.PANNU,A.M: THE CAPTIONED APPEAL FILED BY THE ASSESSEE PERTAI NING TO ASSESSMENT YEAR 2008-09 IS DIRECTED AGAINST AN ORD ER PASSED BY CIT(A)- 47 MUMBAI DATED 20/08/2015 WHICH IN TURN ARISES OUT OF AN ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 271(1 )(C) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATED 29/09/2014 . 2 ITA NO. 5246/MUM/2015 (ASSESSMENT YEAR 2008-09) 2. IN THIS APPEAL, THE REVENUE HAS RAISED THE FOLLO WING GROUNDS OF APPEAL:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW, THE LD CIT(A) ERRED IN CANCELLING THE PENALTY UNDER SECTION 271(1 )(C) OF THE ACT BY RELYING ON THE DECISION OF THE HONBLE ITAT DELETING THE QU ANTUM ADDITION WITHOUT APPRECIATING THE FACT THE DECISION OF THE ITAT IN D ELETING THE QUANTUM ADDITION HAS NOT BEEN ACCEPTED AND PENALTY UNDER SE CTION 260A IS BEING FILED. THE APPELLANT PRAYS THAT THE ORDER OF THE CIT(A) ON THE ABOVE GROUNDS BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED . 2. THE ISSUE RAISED IN THIS APPEAL ARISES FROM PEN ALTY IMPOSED BY THE ASSESSING OFFICER UNDER SECTION 271(1)(C) OF THE AC T AMOUNTING TO RS.38,79,800/-. THE CIT(A) HAS DELETED THE PENALTY FOR THE REASON THAT THE ADDITIONS MADE IN THE ASSESSMENT ORDER, ON THE BASIS OF WHICH PENALTY WAS LEVIED, HAD SINCE BEEN DELETED BY THE T RIBUNAL VIDE ORDER IN ITA NOS.2245 TO 2249/MUM/2013 DATED 17/07/2015. AG AINST SUCH A DECISION OF THE CIT(A), THE REVENUE IS IN APPEAL BE FORE US. 3. AT THE TIME OF HEARING, IT WAS A COMMON GROUND B ETWEEN THE PARTIES THAT THE CIRCUMSTANCES NOTED BY THE CIT(A ) CONTINUE TO HOLD THE FIELD AND, THEREFORE, THERE IS NO JUSTIFICATION TO INTERFERE WITH THE ULTIMATE CONCLUSION OF THE CIT(A), WHICH IS HEREBY AFFIRMED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 21/09/2016 SD/- SD/- (RAMLAL NEGI) (G.S. PANNU) JUDICIAL MEMBER ACCOCUNTANT MEMBER MUMBAI, DATED /09/2016 VM , SR. PS 3 ITA NO. 5246/MUM/2015 (ASSESSMENT YEAR 2008-09) COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT , 2. THE RESPONDENT. 3. THE CIT(A)- 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI