ROYAL RICH DEVELOPERS P.LTD, MUMBAI V. DCIT (OSD) -II CR 7, MUMBAI

ITA 841/MUM/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3141 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-06-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 06-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MOHAMMED RIZWAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) I.T.A. NOS. 841 & 842/MUM/2015 (ASSESSMENT YEARS 2009 - 2010 & 2010 - 11) M/S. ROYAL RICH DEVELOPERS PVT. LTD., C/O. 507, 5 TH FLOOR, ATLANTIC BUILDING, ABOVE VODAFONE GALLERY, R.B. MEHTA MARG, GHAKTOPAR (E), MUMBAI 400 077. VS. DCIT (OSD) II, CR - 7, MUMBAI ( APPELLANT ) .. ( RESPONDENT ) PAN NO. AADCR2578J ASSESSEE BY : SHRI KIRIT SHETH DEPARTMENT BY : SHRI MOHAMMED RIZWAN DATE OF HEARING : 23.06.2016 DATE OF PRONOUNCEMENT : 23 .06.2016 O R D E R BOTH THE APPEALS FILED BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDERS PASSED BY LD. CIT(A) 52 , MUMBAI AND THEY RELATE TO ASSESSMENT YEAR S 200 9 - 1 0 & 2010 - 11 . 2. THE LD. COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED THAT THE ASSESSING OFFICER HAD ESTIMATED THE INCOME OF THE ASSESSEE AND LEVIED PENALTY U/S 271(1)(C) OF THE INCOME TAX ACT, 1961 IN BOTH THE YEARS. THE LD. CIT(A) HAS CONF IRMED THE PENALTY IN BOTH THE Y EARS AND HENCE 2 M/S. ROYAL RICH DEVELOPERS PVT. LTD. ITA NOS. 841 & 842/MUM/2015 ASSESSEE HAS FILED THESE APPEALS BEFORE US. THE LD. COUNSEL SUBMITTED THAT THE ASSESSEE HAD CHALLENGED THE ASSESSMENT ORDERS OF BOTH THE YEARS BEFORE THE TRIBUNAL AND THE TRIBUNAL, VIDE ITS ORDER DT. 27.5.2016 PASSED IN ITA NO. 3668/MUM/201 3 & ITA NO. 4184/MUM/2013, HAS SET - ASIDE THE ORDERS PASSED BY THE LD. CIT(A) AND RESTORED THE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR DOING DE NOVO ASSESSMENT. ACCORDINGLY, THE LD. COUNSEL SUBMITTED THAT THE IMPUGNED PENALTY ORDERS WILL NOT SURVIV E IN VIEW OF THE ORDERS PASSED BY THE TRIBUNAL. 3. THE LD. DR DID NOT CONTRADICT THE FACTUAL ASPECT S PRESENTED BY THE LD. COUNSEL FOR THE ASSESSEE . 4. SINCE THE ASSESSMENT ORDERS, ON THE BASIS OF WHICH THE IMPUGNED PENALTY ORDERS HAVE BEEN PASSED, HAVE BEEN SET - ASIDE BY THE TRIBUNAL AND THE MATTERS HAVE BEEN RESTORED BACK TO THE FILE OF THE ASSESSING OFFICER FOR CARRYING OUT DE NOVO ASSESSMENT, I FIND ME RIT IN THE CONTENTION OF THE ASSESSEE. ACCORDINGLY, I SET - ASIDE THE ORDERS PASSED BY THE LD. CIT(A) IN BOTH THE YEARS UNDER CONSIDERATION. HOWEVER, I MAY STATE THAT THE ASSESSING OFFICER IS AT LIBERTY TO INITIATE PENALTY PROCEEDINGS AFRESH IN THE SET - ASI DE PROCEEDINGS, IF SO ADVISED. 5. IN THE RESULT, BOTH THE APPEALS FILED BY THE ASSESSEE ARE TREATED AS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 23RD JUNE, 2016. SD/ - (B.R.BASKARAN) ACCOUNTANT MEMBER MUMBAI ; DATED : 23RD JUNE, 2016 *SSL* 3 M/S. ROYAL RICH DEVELOPERS PVT. LTD. ITA NOS. 841 & 842/MUM/2015 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