ECHJAY INDUSTRIES P.LTD, MUMBAI V. DCIT,CC8(2), MUMBAI

ITA 6545/MUM/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2282 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2006-2007
• Appeal Filed On: 09-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJEEV GUBGOTRA
• Assessee Lawyers: N R RAO
• Keywords: Set aside
• Section: 201

Judgement Text

T HE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA ( A M) & SHRI RAVISH SOOD (JM) I.T.A. NO. 6545 /MUM/ 201 7 (ASSESSMENT YEAR 20 0 6 - 0 7 ) I.T.A. NO. 6546/MUM/2017 (ASSESSMENT YEAR 2011 - 12) M/S. ECHJAY INDUSTRIES PVT.LTD. 83, BAJA J BHAVAN NARIMAN POINT MUMBAI - 400 021. PAN : AAACE1157B V S . DCIT CIRCLE 8(2) AAYAKAR BHAVAN M.K. ROAD MUMBAI - 400 020. ( APPELLANT ) ( RESPONDENT ) ASSESSEE BY SHRI N.R. RAO DEPARTMENT BY SHRI RAJEEV GUBGOTRA DATE OF HEARING 22 . 8 . 201 9 DATE OF PRONOUNCEMENT 27 . 8 . 201 9 O R D E R PER SHAMIM YAHYA (AM) : - THESE ARE APPEALS BY THE ASSESSEE DIRECTED AGAINST ORDER OF LEARNED CIT(A) FOR THE RESPECTIVE ASSESSMENT YEARS. THE ISSUE RAISED IS THE LEVY OF PENALTY UNDER SECTION 271(1) (C) AS UNDER : - A.Y. 2006 - 07 RS. 77,84,390/ - A.Y. 2011 - 12 RS. 76,83,100/ - 2. AT THE OUTSET LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT THE QUANTUM APPEALS RELATING TO THE ISSUES ON WHICH PENALTY HAS BEEN LEVIED HAVE ALREADY BEEN DECIDED IN FAVOUR OF THE ASSESSEE VID E ORDER DATED 17.7.2019 IN ITA NO. 5245/MUM/2017 FOR A.Y. 2006 - 07 AND ITA NO. 3801/MUM/2017 FOR A.Y. 2011 - 12. THE LEARNED COUNSEL SUBMITTED THAT FOR ASSESSMENT YEAR 2006 - 07 THE REOPENING HAS BEEN QUASHED BY THE ITAT. SO THE ADDITIONS DO NOT SURVIVE. FOR AS SESSMENT YEAR 2011 - 12 THE ADDITION BY REFERENCE TO WHICH THE PENALTY HAS BEEN LEVIED HAS BEEN DELETED BY THE ITAT. HENCE LEARNED COUNSEL PRAYED THAT THE PENALTY LEVIED DOES NOT SURVIVE . M/S. ECHJAY INDUSTRIE S PVT.LTD. 2 3. PER CONTRA LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT OPPOSE THE PROPOSITION SUBMITTED BY THE LEARNED COUNSEL OF THE ASSESSEE. 4. UPON CAREFUL CONSIDERATION W E FIND OURSELVES IN AGREEMENT WITH THE SUBMISSION OF LEARNED COUNSEL OF THE ASSESSEE. SINCE THE ADDITIONS WITH REFERENCE TO WHICH THE PENALTY UNDER SECTION 271 ( 1) (C) HAS BEEN LEVIED HAVE ALREADY BEEN DELETED BY THE ITAT THESE PENALTIES DO NOT SURVIVE. ACCORDINGLY WE SET ASIDE THE ORDERS OF AUTHORITIES BELOW AND DELETE THE PENALTY. 5. IN THE RESULT THE APPEALS BY THE ASSESSEE STAND ALLOWED . ORDER HAS BE EN PRONOU NCED IN THE COURT ON 27 . 8 . 201 9 . SD/ - SD/ - (RAVISH SOOD ) (SH A MIM YAHYA ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 27 / 8 / 20 1 9 COPY OF T HE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( ASSISTANT REGISTRAR ) PS ITAT, MUMBAI