ACIT CC 39, MUMBAI V. GANESH REALTY P.LTD, NAVI MUMBAI

ITA 597/MUM/2014

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2676 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 04-11-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 24-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH OJHA SHANKAR
• Assessee Lawyers: RAMESH JAIN
• Section: 69C

Judgement Text

M/S GANESH REALTY P LTD ITA NO. 5 97 /MUM/201 4 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH G , MUMBAI , , BEFORE SHRI AMIT SHUKLA , JUDICIAL MEMBER AND SHRI RAMIT KOCHAR , ACCOUNTAN T MEMBER ITA NO. : 5 97 /MUM/20 1 4 ( ASSESSMENT YEAR: 200 8 - 0 9 ) ASST COMMISSIONER OF INCOME TAX CC 39/CENT CIR 6(4) , R. NO. 32(1), GROUND FLOOR, AAYAKAR BHAVAN, M K ROAD, MUMBAI - 400 020 VS M/S GANESH REALTY P LTD , DN 215, SECOND FLOOR, PLOT NO. 6, SECTOR 1 1, DRONAGIRI - 400 702 .: PAN: A ACCG 7367 B (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJESH OJHA SHANKAR RESPONDENT BY : SHRI RAMESH JAI N /DATE OF HEARING : 0 4 - 11 - 201 5 / DATE OF PRONOUNCEMENT : 04 - 11 - 201 5 ORDER , . . : PER AMIT SHUKLA, J M : THE AFORESAID APPEAL HA S BEEN FILED BY THE REVENU E A GAINST IMPUGNED ORDER DATED 30 . 1 0 .20 1 1 , PASSED BY CIT (A) - 4 1 , MUMBAI , IN RELATION TO TH E PENALTY PROCEEDINGS U/S 271(1)(C) FOR THE ASSESSMENT YEAR 2008 - 09. THE REVENUE IS MAINLY AGGRIEVED BY LEVY OF PENALTY OF RS. 19,5 5 ,970/ - ON ACCOUNT OF ADDITION MADE U/S 69C OF RS. 63,30,000/ - . 2. AT THE OUTSET, IT HAS BEEN ADMITTED BY THE PARTIES THAT IN THE QUANTUM PROCEEDINGS, THE TRIBUNAL VIDE ORDER DATED 22.03.2013 IN ITA NO. 8 155 & 8156/MUM/2011 HAS DELETED THE SAID ADDITION. 3. IN VIEW OF THE AFORESAID FACT THAT THE ADDITION ITSELF HAS BEEN DELETED BY THE HONBLE TRI BUNAL IN THE QUANTUM PROCEEDIN GS, THE M/S GANESH REALTY P LTD ITA NO. 5 97 /MUM/201 4 2 PENALTY LEVIED ON SUCH ADDITION HAS NO LEGS TO STAND AND ACCORDINGLY, THE PENALTY DELETED BY THE CIT(A) STANDS CONFIRMED. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 4 TH NOVEMBER , 2015. SD/ - SD/ - ( ) ( ) (RAMIT KOCHAR ) ( AMIT SHUKLA ) ACCOUNTANT MEMBER JUDI CIAL MEMBER MUMBAI, DATE: 4 TH NOVEMBER , 2015 / COPY TO: - 1 ) / THE APPELLANT. 2 ) / THE RESPONDENT. 3) THE CIT (A) - 4 1 , MUMBAI. 4 ) THE CIT CENTRAL III , MUMBAI. 5 ) , , / THE D.R. G BENCH, MUM BAI. 6 ) \ COPY TO GUARD FILE. / BY ORDER / / TRUE COPY / / / , DY. / ASSTT. REGISTRAR I.T.A.T., MUMBAI * . . *CHAVAN, SR.PS