STOWE RESEARCH INDIA P.LTD, MUMBAI V. ITO 8(3)(2), MUMBAI

ITA 6849/MUM/2012

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83476 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-08-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 04-08-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 08-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHRI

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL E B ENCH, MUMBAI , ! '# $ $ $ $ , % && , , '# ' BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUICIAL MEMBER ./ I.T.A. NO.6849/MUM/2012 ( ( ( ( ( / ASSESSMENT YEAR :2009-2010 M/S. STOWE RESEARCH INDIA PVT. LTD., 105/106, PREMIUM TOWER, LOKHANDWALA COMPLEX, ANDHERI (W), MUMBAI-400 053 / VS. THE INCOME TAX-8(3)(2), AAYAKAR BHAVAN, MUMBAI-400 020 #) ! ./ %* ./ PAN/GIR NO. : AAECS 6172J ( )+ / APPELLANT ) .. ( ,-)+ / RESPONDENT ) )+ . / APPELLANT BY: SHRI RAJESH S. SHAH ,-)+ / . / RESPONDENT BY: SHRI PANKAJ KUMAR / 01! / DATE OF HEARING :04.08.2014 23( / 01! / DATE OF PRONOUNCEMENT : 04.08.2014 '4 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF THE LD. CIT(A)-18, MUMBAI DT.17.10.2012 PERTAINING TO A.Y.2 009-10. 2. THE SHORT GRIEVANCE OF THE ASSESSEE IS THAT THE LD. CIT(A) ERRED IN CONFIRMING THE LEVY OF PENALTY U/S. 271BA OF THE AC T AMOUNTING TO RS. 1,00,000/- ITA NO. 6849/M/2012 2 3. THE VERY OUTSET, THE LD. COUNSEL FOR THE ASSESSE E STATED THAT THE PROVISIONS OF SEC. 271BA OF THE ACT DO NOT APPLY ON THE FACTS OF THE CASE. TO SUBSTANTIATE, THE LD. COUNSEL DREW OUR ATTENTION TO THE SHARE HOLDING PATTERN AND POINTED OUT THAT IN STOWE RESEARCH INTE RNATIONAL, USA SHRI NIKHILANAND NAIR IS HOLDING 100% SHARE WHEREAS IN S TOWE RESEARCH INDIA PVT. LTD., SHRI NIKHILANAND NAIR IS HOLDING ONLY 9% OF SHARE. THEREFORE, THERE WAS NO NEED FOR FILING REPORT IN FORM 3CEB. IT IS THE SAY OF THE LD. COUNSEL THAT BOTH THE LOWER AUTHORITIES HAVE GROSSL Y ERRED IN NOT CONSIDERING THE SHARE HOLDING PATTERN VIS--VIS FIL ING OF FORM 3CEB. 4. WE HAVE CAREFULLY PERUSED THE ORDERS OF THE AUTH ORITIES BELOW. WE FIND FORCE IN THE CONTENTION OF THE LD. COUNSEL. N ONE OF THE LOWER AUTHORITIES HAVE GIVEN ANY FINDING ON THE SHARE HOL DING PATTERN. THEREFORE, WE RESTORE THIS ISSUE TO THE FILE OF THE AO. THE AO IS DIRECTED TO VERIFY WHETHER FILING OF FORM 3CEB WAS AT ALL RE QUIRED ON THE FACTS OF THE CASE AS PER THE SHARE HOLDING PATTERN. THE ASS ESSEE IS DIRECTED TO FURNISH ONCE AGAIN THE DETAILS OF SHARE HOLDING BEF ORE THE AO. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 4 TH AUGUST, 2014 '4 / 3( ! 5 6'7 4TH AUGUST, 2014 3 / & SD/- SD/- (SANJAY GARG ) (N.K. BILLAIYA) '# / JUDICIAL MEMBER ! '# / ACCOUNTANT MEMBER MUMBAI; 6' DATED : 04.08.2014 . . ./ RJ , SR. PS ITA NO. 6849/M/2012 3 '4 '4 '4 '4 / // / ,0 ,0 ,0 ,0 8(0 8(0 8(0 8(0 / COPY OF THE ORDER FORWARDED TO : 1. )+ / THE APPELLANT 2. ,-)+ / THE RESPONDENT. 3. 9 ( ) / THE CIT(A)- 4. 9 / CIT 5. :& ,0 , , / DR, ITAT, MUMBAI 6. &; < / GUARD FILE. '4 '4 '4 '4 / BY ORDER, -0 ,0 //TRUE COPY// = == = / > > > > % % % % (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI