M/s. MERCK LTD., MUMBAI V. DCIT CIR. - 6(3), MUMBAI

ITA 7055/MUM/2006

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 9457 (ITAT-MUMBAI)
• Duration Of Justice: 8 year(s) 2 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 10-03-2015
• Assessment Year: 1998-1999
• Appeal Filed On: 26-12-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JEETENDRA KUMAR

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI , , BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI N.K . BILLAIYA, A CCOUNTANT M EMBER I .T.A. NO S . 7 0 5 5 & 7 056/MUM/2006 ( / ASSESSMENT YEAR S : 1998 - 99 & 1999 - 2000 M/S. MERCK LTD., (FORMERLY KNOWN AS E. MERCK (I) LTD., SHIV SAGARESTATE, A BLOCK, DR. A.B. ROAD, WORLI, MUMBAI - 400 018 / VS. THE DCIT, CIRCLE 6(3), MUMBAI ./ ./ PAN/GIR NO. : AAACE 2616F ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY: SMT. AARATI VISSANJI SHRI AJIT C. SHAH / RESPONDENT BY : SHRI JEETENDRA KUMAR / DATE OF HEARING : 16 . 0 3 .2015 / DATE OF PRONOUNCEMENT : 20 .03 .2015 / O R D E R PER BENCH : THESE TWO APPEALS BY THE ASSESSEE ARE PREFERRED AGAINST TWO SEPARATE ORDERS OF THE LD. CIT(A) - XXVI, MUMBAI DT. 1 9. 10 .200 6 FOR ASSESSMENT YEAR S 1998 - 99 & 1999 - 2000. IN B OTH THESE APPEALS THE ASSESSEE HAS COMMON GROUNDS OF APPEAL , THEREFORE, THEY WERE HEARD ITA. NO S . 7055 & 7056 /M/0 6 2 TOGETHER AND DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE AND BREVITY. 2. AT THE VERY OUTSET, WE HAVE TO STATE THAT IN THE QUANTUM APPEAL FOR THE YEARS UNDER CONSIDERATION, WE HAVE QUASHED THE REASSESSMENT ORDER VIDE ORDER OF EVEN DATE IN ITA NO. 7459 & 7460/M/04. AS THE VERY BASIS FOR THE LEVY OF PENALTY HAVE BEEN REMOVED, WE DO NOT FIND ANY MERIT IN SUSTAINING THE PENALTY LEVIED U/S. 271(1)(C) OF THE ACT. THE AO IS DIRECTED TO DELETE THE SAME. 3. IN THE RESULT, BOTH THE APPEALS FILED BY THE ASSESSEE ARE ALLOWED. OR DER PRONOUNCED IN THE OPEN COURT ON 20 TH MARCH, 2015 SD/ - SD/ - ( VIJAY PAL RAO ) (N.K. BILLAIYA) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED : 20 TH MARCH, 2015 . . ./ RJ , SR. PS / COPY OF THE 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// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI