Krishan Lal Madhok, Delhi V. ACIT, Central Circle- 15, New Delhi

ITA 6421/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6440 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 11 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2006-2007
• Appeal Filed On: 05-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROCKTIM SAIKIA
• Assessee Lawyers: PRIYANSHU GOEL
• Section: 143(3); 153A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI C BEN CH, NEW DELHI (THROUGH VIDEO CONFERENCING] BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. SUCHITRA KAMBLE, JUDICIAL M EMBER ITA NO. 6421/DEL/2018 [A.Y 2006-07] SHRI KRISHAN LAL MADHOK VS. THE A.C.I.T. 672, TULSI FARMS, OPP. NANDA HOSPITAL CENTRAL CIR CLE 15 CHATTARPUR, NEW DELHI NEW DELHI PAN: AAKPM 8593 J [APPELLANT] [RESPONDENT] DATE OF HEARING : 06.09.2021 DATE OF PRONOUNCEMENT : 06.09.2021 ASSESSEE BY : SHRI PRIYANSHU GOEL, CA REVENUE BY : SHRI ROCKTIM SAIKIA, SR. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, THIS APPEAL BY THE ASSESSEE IS PREFERRED AGAINST TH E COMMISSIONER OF INCOME TAX [APPEALS] - XXVI, NEW DE LHI DATED 03.08.2018 PERTAINING TO ASSESSMENT YEAR 2006-07. 2 2. THE SOLITARY GRIEVANCE OF THE ASSESSEE IS THAT T HE LD. CIT(A) ERRED IN CONFIRMING THE PENALTY OF RS. 69,17,320/- U/S 2 71(1)(C) OF THE INCOME TAX ACT, 1961 [HEREINAFTER REFERRED TO AS 'T HE ACT' FOR SHORT]. 3. THE ROOTS FOR LEVY OF PENALTY LIE IN THE ASSESSM ENT ORDER DATED 09.03.2015 FRAMED U/S 143(3) R.W.S 153A OF THE ACT WHEREIN THE RETURNED INCOME OF THE ASSESSEE WAS ASSESSED BY MAK ING ADDITION ON ACCOUNT OF UNDISCLOSED DEPOSITS IN HSBC BANK AMOUN TING TO RS. 20,05,50,545/- 4. THE QUARREL IN RESPECT OF THE ADDITION MADE IN T HE ASSESSMENT ORDER TRAVELLED UPTO THE TRIBUNAL AND THE TRIBUNAL IN ITA NOS. 3917 TO 3921/DEL/2017 FOR A.YS 2006-07 TO 2012-13 HAS DELET ED THE ADDITIONS. THE RELEVANT FINDINGS OF THIS TRIBUNAL READ AS UNDE R: 27. CONSIDERING THE FACTS OF THE CASE IN TOTALITY, AS DISCUSSED HEREINABOVE, AS CULLED OUT FROM THE RECORDS, AND TH E RELEVANT DOCUMENTARY EVIDENCES, WE DO NOT FIND ANY MERIT IN BIFURCATING THE INCOME IN TWO A.YS WHEN THE ASSESSEE HAS PAID TAXES IN A.Y 2007 08. MAKING THE ADDITION OF SAME INCOME IN TWO A.YS DEFINITELY AMOUNTS TO DOUBLE TAXATION. WE, ACCORDINGLY DIRECT THE ASSESSING OFFICER TO DELETE THE ADDITION IN A.Y. 2006.07 AMOU NTING TO RS. 2,05,50, 550/ AND RS. 18,58,311.00 IN F.Y 200708 ALSO. 3 ACCORDINGLY, THE APPEALS OF THE ASSESSEE IN ITA NOS . 6269 AND 6268/DEL/2017 ARE ALLOWED. 5. SUBLATO FUNDAMENTO CADIT OPUS, MEANING THEREBY, THAT IN CASE THE FOUNDATION IS REMOVED, THE SUPER STRUCTURE FALL S. SINCE THE FOUNDATION [ASSESSMENT] HAS BEEN REMOVED, THE SUPER STRUCTURE I.E. PENALTY MUST FALL. ACCORDINGLY, THE PENALTY IS DIR ECTED TO BE DELETED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IN ITA NO. 6421/DEL/2018 IS ALLOWED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 06.09. 2021 IN THE PRESENCE OF BOTH THE RIVAL REPRESENTATIVES. SD/- SD/- [ SUCHITRA KAMBLE ] [N.K. BILLAIYA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 06 TH SEPTEMBER, 2021 VL/ 4 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.PS/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER