Saffron Investment Ltd., New Delhi V. DCIT, New Delhi

ITA 5759/DEL/2013

• Counselvise Citation: 575920114 RSA 2013
• Duration Of Justice: 2 year(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-11-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 09-11-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 28-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , - DELHI BENCH S, DELHI G BENCH BEFORE SHRI N.K.SAINI, ACCOUNTANT MEMBER , AND SHRI A.T. VARKEY , JUDICIAL MEMBER ITA NO. 5759 /DEL / 20 1 3 [ ASSESSMENT YEAR: 20 0 4 - 0 5 ] SAFFRON INVESTMENT LTD VS. THE D.C.I.T NOW MER GED WITH DEEPRAJ CIRCLE 7(1) INVESTMENTS LTD) NEW DELHI J - B, VANDHNA, 11 TOLSTOY MARG NEW DELHI 110 001. PAN NO. AAACS 0586 J (APPELLANT) (RESPONDENT) A SSESSEE B Y : NONE DEPART MENT B Y : SHRI K .K. JAISWAL SR. DR DATE OF H EARING : 0 9 . 1 1 .201 5 DA TE OF PRONOUNCEMENT : 09 . 11 . 201 5 ORDER PER N.K.SAINI, A.M. THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE CIT(A) - X , NEW DELHI , DATED 3 0 /0 8 /2013 FOR A. Y 200 4 - 0 5 . 2. THE ONLY GRIEVANCE OF THE ASSESSEE IN THIS APPEAL RELATES TO THE SUSTENANCE OF PENALTY LEVIED BY THE AO U/S 271(1)(C) OF THE INCOME - TAX ACT, 1961 [HEREINAFTER REFERRED TO AS THE ACT ]. 2 3. DURING THE COURSE OF HEARING, NOBODY APPEARED O N BEHALF OF THE ASSESSEE. HOWEVER, A LETTER DATED 31.10.2015 HAS BEEN FURNISHED WHEREIN IT IS STATED THAT THE QUANTUM APPEAL IN ITA NO. 1440/DEL/2013 HAS BEEN DECIDED AND THIS APPEAL MAY ALSO BE DECIDED ON THE BASIS OF ORDER OF THE ITAT B BENCH IN ITA N O. 1440/DEL/2013. ACCORDINGLY, THE APPEAL OF THE ASSESSEE IS DECIDED EX PARTE AFTER HEARING THE LD. DR. 4. DURING THE COURSE OF HEARING THE LD. D.R. SUPPORTED THE ORDER S OF THE AUTHORITIES BELOW . 3. AFTER CONSIDERING THE SUBMISSIONS OF THE LD. D.R. AN D THE MATERIAL AVAILABLE ON RECORD, IT IS NOTICED THAT THE APPEAL OF THE ASSESSEE IN ITA NO. 1440/DEL/2013 FOR A.Y 2004 - 05 ON QUANTUM WAS THE SUBJECT MATTER OF ADJUDICATION BEFORE THE ITAT B BENCH, NEW DELHI WHEREIN VIDE ORDER DATED 12.8.2015 THE ISSUE H AS BEEN SET ASIDE TO THE FILE OF THE AO TO BE DECIDED DE NOVO AFTER AFFORDING DUE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. SINCE THE ADDITION ON THE BASIS OF WHICH PENALTY HAS BEEN LEVIED U/S 271(1)(C) OF THE ACT HAS BEEN SET ASIDE TO THE FILE OF THE A O, WE THEREFORE, DEEM IT APPROPRIATE TO SET ASIDE THE ISSUE RELATING TO THE PENALTY U/S 271(1)(C) OF THE ACT TO THE FILE OF THE AO TO 3 BE DECIDED IN ACCORDANCE WITH LAW AFTER PROVIDING DUE AND REASONABLE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. 4 . IN T HE RESULT, THE APPEAL OF THE ASSESSEE STANDS ALLOWED FOR STATISTICAL PURPOSES. [ ORDER PRON OUNCED IN THE COURT ON 09 . 11 .201 5 ] S D / - SD/ - ( A.T. VARKEY ) (N.K.SAINI) JUDICIAL MEMBER ACCOUNTANT MEMER DATED : 09 TH NOVEMBER , 2015. VL/ - COPY TO: 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE CIT 4 . THE CIT(A) 5 . THE DR BY ORDER ASSISTANT REGISTRAR ITAT, NEW DELHI