FARGO SALES PVT LTD., MUMBAI V. ASST CIT 9 (1), MUMBAI

ITA 7686/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9187 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2004-2005
• Appeal Filed On: 13-12-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: USHA GAIKWADLD
• Assessee Lawyers: AMIT KHOTARI LD
• Section: 2

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, VP AND HONBLE SHRI MANOJ KUM AR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO. 7686 /MUM/ 2019 ( / ASSESSMENT YEAR: 2004 - 05 ) M/S FARGO SALES PVT. LTD. SHAKTI NIWAS, 21 RAMCHANDRA LANE EXT . M ALAD WEST, MUMBAI - 400 064 / VS. A C IT 9 ( 1) AAYAKAR BHAVAN, M. K. ROAD, MUMBAI - 400 020 ./ ./ PAN/GIR NO. A A ACF - 1 705 - C ( / APPELLANT ) : ( / RESPONDENT ) ASSESSEE BY : SHRI AMIT KHOTARI , LD. AR REVENUE BY : MS. USHA GAIKWAD , LD. DR / DA TE O F HEARING : 05 /08 /2021 / DATE OF PRONOUNCEMENT : 05/08/2021 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. IN THIS APPEAL FOR AS SESSMENT YEAR (AY) 20 04 - 05, THE ASSESSEE IS AGG RIEVED BY CONFIRMATION OF CERTAIN PENALTY U / S 2 71 (1) (C) FOR RS. 10. 74 LACS. THE LD. A R SUBMI TTED THAT PENALTY W AS LEVIED ON QUANTUM ADDITIONS OF RS. 29.95 LACS. HOWEVER, THE ADDI TIONS TO THE EXTENT OF RS. 0.77 LACS WERE DELETED BY LD. CIT(A) WHEREAS THE BALANCE ADD ITION OF RS .29.18 LACS HAS BEEN D E LETED B Y T RIBUNAL VIDE I TA N O.4707/MUM/2011 ORDER DATED 15/02/2017. A COPY OF THE ORDER HAS 2 BEEN PLACED ON RECORD. I N THE SAID BACKGROUND , LD. AR SUBMITTED THAT THE PENALTY WOULD NOT SURVIVE. THIS POSITION REMAIN S U NCONTROVERTED BEFORE US. 2. THE LD. DR , ON THE O THER HA ND, SUBMITTED THAT T HE APPEAL WAS FILED BY ASSESSEE BEFORE LD. CIT(A) UNDER W RONG PAN AND NON E APPEARED FOR ASSESSEE DURING APP ELLATE PROCEEDINGS. 3. THOUGH WE CONCUR WITH THE SUBMIS SIONS OF LD. DR, HOWEVER, SINCE QUANTU M ADDITIONS HAVE FULLY BEEN D ELE TED, THE CONSEQUENTIAL PENALTY WOULD NOT SU R VI VE. WE ORDER SO . 4 . THE APPE AL STAND S ALLO WED. ORDER PRONOUNCED ON 05 TH AUGUST , 2021. SD/ - SD/ - (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) / VICE PRESIDENT / ACCOUNTANT MEMBER MUMBAI; DATED : 05 /08 /2021 SR.PS, DHANANJAY / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPO NDEN T 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT , MUMBAI.