D.C.I.T.CENT. CIRCLE-40, MUMBAI V. M/S. SHREYA LIFE SCIENCES PVT. LTD., MUMBAI

ITA 6620/MUM/2008

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 1636 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-10-2009
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2001-2002
• Appeal Filed On: 14-11-2008
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANDEEP DAHIYA
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH: MUMBAI BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER AND SHRI V D RAO, JUDICIAL MEMBER ITA NO 6620/MUM/2008 (ASSESSMENT YEAR: 2001-02) DCIT- CENT CIR 40 , ROOM NO 653, 6TH FLOOR, AAYAKAR BHAVAN, M K ROAD, MUMBAI -400 020 VS SHREYA LIFE SCIENCES PVT LTD, SHREYA HOUSE, 301/A, PEREIRA HILL ROAD, ANDHERI (EAST), MUMBAI -400 099 PAN: AADCS 9890 C APPELLANT RESPONDENT APPELLANT BY: SHRI SANDEEP DAHIYA RESPONDENT BY: SHRI SATISH MODY ORDER PER PRAMOD KUMAR 1. BY WAY OF THIS APPEAL, THE REVENUE HAS CHALLENGE D CORRECTNESS OF CIT (A)S ORDER DATED 11TH AUGUST 2008 FOR THE ASSESSMENT YEA R 2001-02 IN THE MATTER OF PENALTY U/S 271(1)(C) OF THE INCOME TAX ACT, 1961. 2. WHEN THIS APPEAL WAS CALLED FOR HEARING, SHRI SA TISH MODY, LEARNED COUNSEL FOR THE ASSESSEE, INVITED OUR ATTENTION TO ORDER DATED 10TH DECEMBER 2008, PASSED BY A CO-ORDINATE BENCH OF THIS TRIBUNAL, DELETING THE RE LATED QUANTUM ADDITION. IT IS SUBMITTED THAT WHEN QUANTUM ADDITION ITSELF IS DELE TED, THERE CAN NOT BE ANY RECESSION FOR IMPOSITION OF CONCEALMENT PENALTY REL ATABLE TO SUCH QUANTUM ADDITION. 3. SHRI SANDEEP DAHIYA, LEARNED DEPARTMENTAL REPRES ENTATIVE, ON GOING THROUGH THE TRIBUNALS ORDER DATED 10TH DECEMBER 2008 (SUPR A) AND HAVING SEEN THE RECORDS, DOES NOT DISPUTE THE AFORESAID SUBMISSIONS OF THE A SSESSEE. 4. IN VIEW OF THE ABOVE DISCUSSIONS, WE HOLD THAT N O INTERFERENCE IS CALLED FOR IN THE CONCLUSION ARRIVED AT BY THE CTI (A). THE GRIE VANCE RAISED BY THE REVENUE IS INFRUCTUOUS. ITA 6620/M/2008 SHREYA LIFE SCIENCES PVT LTD 2 5. IN THE RESULT, APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT TODAY ON THE 29TH OCT OBER 2009. SD/- (V D RAO) JUDICIAL MEMBER SD/- (PRAMOD KUMAR) ACCOUNTANT MEMBER MUMBAI, DATE: 29TH OCTOBER 2009 COPY TO:- 1) THE APPELLANT. 2) THE RESPONDENT. 3) THE CIT (A)-XXV, MUMBAI. 4) THE CIT, MUMBAI CITY- 8, MUMBAI. 5) THE D.R. E BENCH, ITAT, MUMBAI. BY ORDER / / TRUE COPY / / ASSTT. REGISTRAR CHAVAN* I.T.A.T., MUMBAI ITA 6620/M/2008 SHREYA LIFE SCIENCES PVT LTD 3 SR.N. EPISODE OF AN ORDER DATE INITIALS CONCERNED 1 DRAFT DICTATED ON 27.10.09 SR.PS 2 DRAFT PLACED BEFORE AUTHOR 28.10.09 SR.PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.PS SR.PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS 7 FILE SENT TO THE BENCH CLERK SR.PS 8 DATE ON WHICH FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER