G.S. Pharmabutor Pvt. Ltd., New Delhi V. Joint CIT, Special Range-4, New Delhi

ITA 705/DEL/2020

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 3283 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 5 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2015-2016
• Appeal Filed On: 06-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: JAGDISH SINGH
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA No. 705/Del/2020 Assessment Year: 2015-16 G.S. Pharmabutor Pvt. Ltd., 415, Modi Tower, 98-Nehru Place, New Delhi PIN: 1100 19 Joint CIT, Special Range-4, New Delhi PAN :AAACG2925P (Appellant) (Respondent) ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the assessee against order dated 20.12.2019 of learned Commissioner of Income-Tax (Appeals)-35, New Delhi confirming penalty imposed of Rs.13,21,969 under Section 271(1)(c) of the Income-Tax Act,1961 for the assessment year 2015-16. Appellant by Shri P.S. Kashyap, CA Assessee by Shri Jagdish Singh, SR. DR Date of hearing 26.07.2022 Date of pronouncement 26.07.2022 2 ITA No.705/Del./2020 2. At the outset, learned counsel appearing for the assessee, submitted that the addition based on which the assessing officer has imposed penalty under Section 271(1)(c) of the Act, in the meanwhile, has been deleted by the Tribunal while deciding the appeal filed by the Revenue and cross objection of the assessee arising out of the quantum proceedings. In this context, he drew our attention to order dated 08.12.2021 passed by the Tribunal in ITA No. 6716/Del/2018 and C.O. No. 61/Del/2021. 3. Learned Departmental Representative, after perusing the order of the Tribunal, fairly agreed that the addition based on which the penalty was imposed has been deleted by the Tribunal. 4. Having considered rival submissions and perused the material available of on record, we find that based on certain additions made by the assessing officer and partly sustained by learned Commissioner (Appeals), the assessing officer initiated proceeding for imposition of penalty under Section 271(1)(c) of the Act and ultimately passed order imposing penalty under the said provision. However, in the meanwhile, while deciding the appeal and cross objection filed respectively by the revenue and assessee in quantum proceedings, the 3 ITA No.705/Del./2020 Tribunal has deleted the entire addition. Therefore, the very basis of imposition of penalty under Section 271(1)(c) of the Act stands obliterated. 5. In view of the aforesaid, we delete the penalty imposed under Section 271(1)(c) of the Act. 6. In the result, the appeal is allowed. Order pronounced in the open court on 26 th July, 2022. Sd/- Sd/- ( ANADEE NATH MISSHRA ) (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 26 th July, 2022. Mohan Lal Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi 4 ITA No.705/Del./2020 Sl. No. Particulars Date 1. Date of dictation (Order drafted through Dragon software): 26.07.2022 2. Date on which the draft of order is placed before the Dictating Member: 26.07.2022 3. Date on which the draft of order is placed before the other Member: 4. Date on which the approved draft of order comes to the Sr. PS/PS: 26.07.2022 5. Date of which the fair order is placed before the Dictating Member for pronouncement: 26.07.2022 6. Date on which the final order received after having been singed/pronounced by the Members: 27.07.2022 7. Date on which the final order is uploaded on the website of ITAT: 29.07.2022 8. Date on which the file goes to the Bench Clerk 29.07.2022 9. Date on which files goes to the Head Clerk: 10. Date on which file goes to the Assistant Registrar for signature on the order: 11. Date of dispatch of order: