Takshila Retail Pvt. Ltd., New Delhi V. ACIT Circle - 25(1), New Delhi

ITA 7650/DEL/2019

AI Insights

The case involves Takshila Retail Pvt. Ltd., which appealed against the order of the CIT(A)-9, New Delhi, confirming a penalty of Rs. 7,96,53,037 imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act for the assessment year 2012-13. The Income Tax Appellate Tribunal (ITAT) noted that the quantum appeal related to the same assessment year had been set aside by the Tribunal and remanded back to the CIT(A) for re-assessment. Consequently, the ITAT restored this appeal to the CIT(A) to decide on the penalty after the quantum issue is resolved.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 121307 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 5 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-03-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 14-03-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 17-09-2019
• Laws Referred To: Income Tax Act
• Result in Favour of: Matter Remanded
• Court: TRIBUNAL
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.7650/Del/2019 Assessment Year: 2012-13 Takshila Retail Pvt. Ltd. 2 nd Floor, 19, Local Shopping Complex Near, Pushpa Bhawan, Madangir, New Delhi-110062 PAN No.AACCB6795J Vs ACIT Circle 25 (1) New Delhi (APPELLANT) (RESPONDENT) Appellant by None Respondent by Ms. Sapna Bhatia, CIT DR Date of hearing: 15/03/2023 Date of Pronouncement: 15/03/2023 ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-9, New Delhi dated 15.07.2019 pertaining to A.Y.2012- 13. 2. The solitary grievance of the assessee is that the CIT(A) erred in confirming the penalty of Rs.7,96,53,037/-imposed by the AO u/s. 271 (1) (c) of the Act. 2 3. Before going into the merits of the appeal, it has been brought to the notice of the Bench that the quantum appeal has been set aside by the Tribunal vide order dated 28.04.2022 in ITA No.887/Del/2017 to the files of the CIT(A). 4. On this fact this appeal is also restored to the files of the CIT(A). The CIT(A) is directed to decide the appeal for the levy of penalty u/s.271 (1) (c) of the Act after deciding the quantum appeal and after affording a reasonable and sufficient opportunity of being heard to the assessee. 5. In the result, the appeal is allowed for statistical purpose. 6. Decision announced in the open court on 15.03.2023. Sd/- Sd/- [ANUBHAV SHARMA] [N.K. BILLAIYA] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated:15.03.2023 *Neha* Copy forwarded to: 1. Appellant 2. Respondent 3. CITi 4. CIT(A) 5. DR Asst. Registrar ITAT, New Delhi