GOOLAMALLY HASANJEE, MUMBAI V. ITO WD 13(1)(3), MUMBAI

ITA 5532/MUM/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 88531 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-03-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 04-03-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 22-08-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUBACHAN RAM
• Keywords: Bogus purchase; Wrong claim

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL G BE NCH, MUMBAI , ! '# $ $ $ $ , '# % BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER ./I .T.A. NO.5532/MUM/2013 ( & & & & / ASSESSMENT YEAR : 2006-07 M/S. GOOLAMALLY HASANJEE, 76/78 SHERIFF DEVJI STREET, MUMBAI-400 003 / VS. THE ITO, WARD 13(1)(3), AAYAKAR BHAVAN, MUMBAI-400 020 #' ! ./ ( ./ PAN/GIR NO. : AAAFG 5062A ( ') / APPELLANT ) .. ( *+') / RESPONDENT ) ') , / APPELLANT BY: SHRI DEEPAK TRALSHAWALA *+') - , / RESPONDENT BY: SHRI SUBACHAN RAM - ./! / DATE OF HEARING :04.03.2015 01& - ./! / DATE OF PRONOUNCEMENT :04.03.2015 '2 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF THE LD. CIT(A)-24, MUMBAI DT. 31.5.2013 PERTAINING TO ASSES SMENT YEAR 2006-07. 2. THE SOLE GRIEVANCE OF THE ASSESSEE IS THAT THE L D. CIT(A) ERRED IN CONFIRMING THE LEVY OF PENALTY U/S. 271(1)(C) OF TH E ACT ON THE GROUNDS ITA NO. 5532/MUM/2013 2 THAT THE ASSESSEE FURNISHED WRONG PARTICULARS BY MA KING A WRONG CLAIM ON ACCOUNT OF BOGUS PURCHASES TO THE TUNE OF RS. 1,35, 000/-. 3. THE ROOTS FOR THE LEVY OF PENALTY LIE IN THE ASS ESSMENT ORDER DT. 31.12.2010 MADE U/S. 143(3)/148 OF THE ACT WHEREIN THE AO HAS MADE ADDITIONS ON ACCOUNT OF BOGUS PURCHASES. THE MATTE R TRAVELLED UPTO THE TRIBUNAL AND THE TRIBUNAL IN ITA NOS. 3740 & 3741/M /2012 HAS DELETED THE ADDITIONS MADE BY THE AO. 4. SINCE THE VERY BASIS FOR THE LEVY OF PENALTY HAS BEEN REMOVED BY THE TRIBUNAL, WE DO NOT FIND ANY REASON TO UPHOLD T HE PENALTY SO LEVIED. WE, THEREFORE, SET ASIDE THE FINDINGS OF THE LD. CI T(A) AND DIRECT THE AO TO DELETE THE PENALTY LEVIED U/S. 271(1)(C) OF THE ACT. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 4 TH MARCH, 2014. SD/- SD/- (VIVEK VARMA ) (N.K. BILLAIYA) '# /JUDICIAL MEMBER ! '# / ACCOUNTANT MEMBER MUMBAI; 3' DATED : 4 TH MARCH, 2014 . . ./ RJ , SR. PS ITA NO. 5532/MUM/2013 3 '2 '2 '2 '2 - -- - *. *. *. *. 4&. 4&. 4&. 4&. / COPY OF THE ORDER FORWARDED TO : 1. ') / THE APPELLANT 2. *+') / THE RESPONDENT. 3. 5 ( ) / THE CIT(A)- 4. 5 / CIT 5. 67 *. , , / DR, ITAT, MUMBAI 6. 78 9 / GUARD FILE. '2 '2 '2 '2 / BY ORDER, +. *. //TRUE COPY// : :: : / ; ; ; ; (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI