BRISTLECONE INDIA LIMITED, MUMBAI V. ACIT CIR 2(1)(1), MUMBAI

ITA 6051/MUM/2017

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6266 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 27-09-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: BHARTI SINGH
• Assessee Lawyers: PRASAD BAPAT
• Keywords: Set aside
• Section: 271(1)(c); 201

Judgement Text

IN THE INC OME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE HONBLE SHRI SANDEEP GOSAIN, JM & HONBLE SHRI G. MANJUNATHA, AM ./ I.T.A. NO . 6051 /MUM/2017 ( / ASSESSMENT YEAR: 2011 - 12 ) BRISTLECONE INDIA LTD, 2 ND FLOOR, TECHNIPLEX COMPLEX - 1, OFF - VEER, SAVARKAR FLYOVER, GOREGAON (W), MUMBAI - 400 061 / VS. A CIT CIR 2(1) (1) AAYAKAR BHAVAN , M. K. ROAD, MUMBAI - 400 020 ./ ./ PAN/GIR NO. AA A CM5186E ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SH. PRASAD BAPAT , AR / RESPONDENTBY : MS. BHARTI SINGH , DR / DATE OF HEARING : 08/01 /201 9 / DATE OF PRONOUNCEMENT : 22.01.2019 / O R D E R PER SANDEEP GOSAIN, J UDICIAL MEMBER : THIS APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORDER OF LD. CIT(A) - 4 , MUMBAI DATED 03.02.17 FOR AY 2011 - 12. 2. AT THE OUTSET, LD. AR SUBMITTED THAT THE PRESENT APPEAL IS IN RESPECT OF PENALTY LEVIED BY LD. CIT(A) U/S 271(1)(C) OF THE 2 I.T.A. NO. 6051 /MUM/201 7 BRISTLECONE INDIA LTD, ACT. HOWEVER , THE HONBLE ITAT IN QUANTUM APPEAL BEARING ITA NO. 3425/MUM/2017 IN ASSESSEES OWN CASE TITLED BRISTLECONE INDIA LTD VRS . ACIT DATED 29.10.18 HAS SET ASIDE THE ORDER OF LD. CIT(A) AND RESTORED THE MATTER BACK TO THE FILE OF LD. CIT(A) FOR FRESH ADJUDICATION. T HEREFORE, THE PENALTY IN THE PRESENT CASE IS NOT SUSTAINABLE IN LAW. 3. ON THE PERUSAL OF PARA NO. 5 OF THE SAID ORDER OF HONBLE ITAT IN ITA NO. 3425/MUM/2017 DATED 29.10.18 , WE NOTICED THAT THE COORDINATE BENCH OF ITAT HAS RESTORED THE ISSUE OF ELIGIBIL ITY OF DEDUCTION U/S 10A OF THE ACT IN THE QUANTUM APPEAL, B ACK THE MATTER TO THE FILE OF LD. CIT(A) FOR FRESH ADJUDICATION. 4. SINCE THE PRESENT PENALTY PROCEEDINGS WERE BORNE OUT OF THE ASSESSMENT ORDER, WHICH HAS NOW B EEN SET ASIDE TO THE FILE OF LD. CIT(A) BY THE ORDER OF HONBLE ITAT IN THE ABOVE CASE, T HEREFORE THE PENALTY ARISING OUT OF THE SAID ORDER IS NOT SUSTAINABLE IN THE EYES OF LAW. IN VIEW OF THE ABOVE FACTS, CIRCUMSTANCES AND DISCUSSION, WE DROP THE PENALTY. 3 I.T.A. NO. 6051 /MUM/201 7 BRISTLECONE INDIA LTD, HOWEVER, THE AO WOULD BE AT L IBERTY TO EXAMINE THE IMPOSITION OF PENALTY, IF ANY, ON THE BASIS OF OUTCOME OF THE QUANTUM ADDITION IF ANY . IT IS ORDERED ACCORDINGLY. 5 . IN THE NET RESULT, THE APPEAL FILED BY THE ASSESSEE STANDS PARTLY A LLOWED WITH NO ORDER AS TO COST. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND JAN , 201 9 . SD/ - SD/ - ( G. MANJUNATHA ) (SANDEEP GOSAIN) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI ; DATED : 22 . 01 .201 9 SR.PS . DHANANJAY / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F I LE / BY ORDER, . / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI