Deputy Commissioner of Income Tax, Central Circle-2, Jaipur V. M/s. Kothari Jewels private Limited, Mumbai

ITA 838/JPR/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 0243 (ITAT-JAIPUR)
• Duration Of Justice: 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 25-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: J C KULHARI
• Section: 143(3); 153A

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH FOT; IKY JKO] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM VK;DJ VIHY LA-@ ITA. NO. 838/JP/2018 FU/KZKJ.K O'K Z@ ASSESSMENT YEARS : 2010-11 DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE- 02, JAIPUR CUKE VS. M/S KOTHARI JEWELS (P) LTD., 102 QUEENS DIAMOND APARTMENT, M.P. MARG, OPERA HOUSE, MUMBAI-400004 LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AABCA2717Q VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS @ REVENUE BY : SHRI J. C. KULHARI (JCIT) FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : NONE LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 10/09/2018 MN?KKS'K.KK DH RKJH[ K@ DATE OF PRONOUNCEMENT :14/09/2018 VKNS'K@ ORDER PER: VIKRAM SINGH YADAV, A.M. THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF LD. CIT (A)- 04, JAIPUR DATED 19.04.2018 FOR ASSESSMENT YEA R 2010-11 WHEREIN THE REVENUE HAS CHALLENGED THE DELETION OF PENALTY IMPOSED BY THE AO U/S 271(1)(C) OF THE ACT. 2. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT THE ASSESSMENT WAS COMPLETED U/S 143(3) READ WITH 153A WHEREIN THE AO ASSESSED THE TOTAL INCOME AT RS. 1,24,42,970/- MAKING ADDITION OF RS. 1,04,49,607/-. ITA NO. 838/JP/2018 DCIT, JAIPUR VS. M/S KOTHARI JEWELS (P) LTD., MUMB AI 2 DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE AO ALSO INITIATED PENALTY PROCEEDINGS U/S 271(1)(C) AND THEREAFTER, T HE PENALTY WAS LEVIED VIDE ORDER DATED 31.03.2016. AGAINST THE LEV Y OF PENALTY, THE ASSESSEE MOVED AN APPEAL BEFORE THE LD. CIT(A) AND BESIDES SUBMISSIONS ON MERIT, SUBMITTED THAT IN THE QUANTUM PROCEEDINGS, THE ENTIRE ADDITION MADE BY THE AO HAS BEEN DELETED BY THE TRIBUNAL VIDE ITS ORDER NO. 453/JP/2015 DATED 4.4.2018. THE LD. C IT(A) TAKING THE SAME INTO CONSIDERATION HELD THAT THE PENALTY IMPOS ED BY THE AO ON SUCH ADDITION DOES NOT SUBSIST AND HE DIRECTED TO D ELETE THE PENALTY SO LEVIED BY THE AO U/S 271(1)(C) OF THE ACT. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE AS THE N OTICE WAS RETURNED UNSERVED. 4. AFTER PURSUING MATERIAL ON RECORD AND HEARING TH E LD. DR, WE DO NOT SEE ANY INFIRMITY IN THE ORDER OF THE LD. CIT(A ) AS THE VERY BASIS FOR LEVY OF PENALTY HAS BEEN DELETED IN THE QUANTUM PRO CEEDINGS BY THE CO- ORDINATE BENCH VIDE ITS ORDER DATED 4.4.2018. IN LI GHT OF THE SAME, WHERE THE VERY BASIS FOR THE LEVY OF PENALTY HAS BE EN DELETED BY THE CO- ORDINATE BENCH, THERE IS NO BASIS FOR SUSTAINING TH E PENALTY SO LEVIED BY THE AO. IN THE RESULT, WE AFFIRM THE ORDER OF THE L D CIT(A) AND THE GROUND SO TAKEN BY THE REVENUE IS HEREBY DISMISSED. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ITA NO. 838/JP/2018 DCIT, JAIPUR VS. M/S KOTHARI JEWELS (P) LTD., MUMB AI 3 ORDER PRONOUNCED IN THE OPEN COURT ON 14/09/2018. SD/- SD/- FOT; IKY JKO FOE FLAG ;KNO (VIJAY PAL RAO) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 14/09/2018 * GANESH KR. VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- DCIT, JAIPUR 2. IZR;FKHZ@ THE RESPONDENT- M/S KOTHARI JEWELS (P) LTD., MUMBAI 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR. 6. XKMZ QKBZY@ GUARD FILE { ITA NO. 838/JP/2018} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR