ACME ASSOCIATES, MUMBAI V. DCIT CEN CIR 9, MUMBAI

ITA 621/MUM/2012

• Counselvise Citation: 62119914 RSA 2012
• Duration Of Justice: 1 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-12-2013
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 31-12-2013
• Assessment Year: 2007-2008
• Appeal Filed On: 31-01-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: M L PERUMAL
• Assessee Lawyers: VIJAY MEHTA
• Section: 12

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI BEFORE S/SHRI B.R.MITTAL,(JM) AND N.K.BILLAIYA (AM ) . . , . . , ./I.T.A.NO.620 AND 621/MUM/2012 ( / ASSESSMENT YEARS: 2006-07 AND 2007-08) M/S ACME ASSOCIATES, ACME GHAR, 19 K D ROAD, BEHIND RASRAJ RESTAURANT, VILE PARLE (W), MUMBAI-400056. / VS. DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -9, MUMBAI ./ ./PAN/GIR NO. : AAECA9261D ( ' / APPELLANT) .. ( ( ' / RESPONDENT) ' / APPELLANT BY : SHRI VIJAY MEHTA ( ' * /RESPONDENT BY SHRI M L PERUMAL * - / DATE OF HEARING : 31.12.2013 * - /DATE OF PRONOUNCEMENT : 31.12.2013 / O R D E R PER B.R.MITTAL, JM THE ASSESSEE HAS FILED THESE APPEALS FOR ASSESSM ENT YEARS 2006-07 AND 2007- 08 AGAINST THE COMMON ORDER OF LD. CIT(A) DATED 2 2.11.2011 CONFIRMING THE LEVY OF PENALTIES OF RS.1,29,852/- FOR ASSESSMENT YEAR 2006 -07 AND RS.1,06,442/- FOR ASSESSMENT YEAR 2007-08 ON THE GROUND THAT THE ASSE SSEE HAD CLAIMED DEDUCTION U/S 80IB(10) OF THE INCOME TAX ACT, 1961 BY FURNISHING INACCURATE PARTICULARS OF INCOME IN THE ORIGINAL RETURN OF INCOME FILED FOR THE RESPECT IVE ASSESSMENT YEARS. 2. AT THE TIME OF HEARING, LD. AR SUBMITTED THAT ON IDENTICAL FACTS THE PENALTY FOR ASSESSMENT YEAR 2005-06 WAS ALSO LEVIED U/S 271(1)( C) OF THE ACT. HOWEVER, THE TRIBUNAL IN ASSESSEES OWN CASE IN ITA NO.649/MUM /2011, ORDER DATED 13.9.2013 CANCELLED THE PENALTY AND FURNISHED A COPY OF THE SAID ORDER TO SUBSTANTIATE HIS SUBMISSIONS. LD. AR SUBMITTED THAT IN VIEW OF THE SAID ORDER OF THE TRIBUNAL, THE PENALTIES FOR BOTH THE ASSESSMENT YEARS UNDER CONS IDERATION MAY BE CANCELLED AS THE FACTS ARE IDENTICAL TO ASSESSMENT YEAR 2005-06. LD. DR HAS NOT DISPUTED THE ABOVE CONTENTION OF THE LD. AR. I.T.A.NO.620 AND 621/MUM/2012 2 3. IN VIEW OF ABOVE SUBMISSIONS OF LD. REPRESENTAT IVES OF THE PARTIES AND CONSIDERING THE ORDER OF THE TRIBUNAL FOR ASSESSMEN T YEAR 2005-06 DATED 13.9.2013 (SUPRA), WE CANCEL THE PENALTIES FOR BOTH THE ASSES SMENT YEARS UNDER CONSIDERATION BY ALLOWING THE GROUND OF APPEAL TAKEN BY ASSESSEE. 4. BEFORE WE PARTAKE WITH THESE APPEALS, WE MAY ST ATE THAT IN GROUND NO.1 OF BOTH THE APPEALS, THE ASSESSEE HAS DISPUTED THE VAL IDITY OF INITIATION OF THE PENALTY PROCEEDINGS U/S 271(1)( C ) OF THE ACT FOR BOTH TH E ASSESSMENT YEARS. HOWEVER, AT THE TIME OF HEARING, THE LD. AR SUBMITTED THAT THE GROU ND NO.1 IN BOTH THE APPEALS ARE NOT PRESSED FOR. IN VIEW OF ABOVE, THE GROUND NO.1 OF BOTH THE APPEALS TAKEN BY ASSESSEE ARE REJECTED. 5. IN THE RESULT, BOTH THE APPEALS OF ASSESSEE ARE ALLOWED IN PART BY CANCELLING THE PENALTIES FOR BOTH THE ASSESSMENT YEARS UNDER CONSI DERATION. ORDER PRONOUNCED IN THE OPEN COURT ON 31ST DAY OF DECEMBER 2013 * 1 2 31 ST DAY OF DECEMBER, 2013 * SD SD ( . . /N.K.BILLAIYA ) ( . . /B.R.MITTAL) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI . . ./ SRL , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. ' / THE APPELLANT 2. ( ' / THE RESPONDENT. 3. > ( ) / THE CIT(A)- 4. > / CIT 5. ? (A , - A , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) - A , /ITAT, MUMBAI