YAMUNA ESTATES P.LTD, NEW DELHI V. ITO WD 11(3)(4), MUMBAI

ITA 999/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3851 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-08-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 02-08-2016
• Assessment Year: 2003-2004
• Appeal Filed On: 13-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SU JIT BANGAR
• Assessee Lawyers: VINOD RAWAT
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SM C , MUMBAI BEFORE SHRI MAHAVIR SING H (JUDICIAL MEMBER) ITA NO. 999 /MUM/2015 ASSESSMENT YEAR: 20 03 - 04 YAMUNA ESTATES P. LTD. VS. ITO, WARD 11(3)(4) C.A VINOD RAWAL, ERSTWHILE ITO 8(3)(4) 309 VISHAL TOWER, JANAKPURI MUMBAI NEW DELHI PAN NO. AAACY0425C (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VINOD RAWAT RESPONDENT BY : SHRI SUJIT BANGAR DATE OF HEARING : 02/08/2016 DATE OF PRONOUNCEMENT : 02 /0 8 /2016 O R D ER PER MAHAVIR SINGH , JM : THIS APPEAL BY THE ASSESSEE IS ARISING OUT OF THE ORDER OF CIT(A) - 18, MUMBAI IN APPEAL NO. CIT(A) - 18/IT - 67/ITO 8(3)(4)/2013 - 14 DT. 11/12/2014. ASSESSMENT WAS FRAMED BY ITO WARD - 8(3)(4) FOR THE AY 2003 - 04 VIDE HIS ORDER D ATED 30/12/2010, UNDER SECTION 143(3) R.W.S 147 OF THE INCOME TAX ACT, 1961 (HEREINAFTER THE ACT). THE PENALTY UNDER DISPUTE WAS LEVIED BY THE ASSESSING OFFICER UNDER SECTION 271(1)(C) OF THE ACT VIDE HIS ORDER DATED 25/03/2013. 2 . THE ONLY ISSUE IN THIS APPEAL OF THE ASSESSEE AGAINST THE ORDER OF CIT(A) CONFIRMING THE LEVY OF PENALTY BY THE AO UNDER SECTION 271(1)(C) OF THE ACT. 3 . AT THE OUTSET LD. COUNSEL FOR THE ASSESSEE STATED THAT THE QUANTUM ADDITION HAS BEEN DELETED BY THE TRIBUNAL IN I.T.A. NO. 2672/M/2012, VIDE ORDER DT. 09/09/2015, THE COPY OF ORDER IS PLACED ON RECORD. ACCORDING TO THE LD. COUNSEL ONCE QUANTUM ADDITION IS DELETED PENALTY WILL NOT SURVIVE. ON QUERY FROM THE BENCH, LD. SR DR CONCEDED THE POSITION AND AGREED THAT QUANTUM HAS BEEN DELETED BY TRIBUNAL ON WHICH THIS PENALTY IS BASED. IN VIEW OF THE ABOVE FACTS , THAT THE QUANTUM ADDITION IS DELETED BY THE TRIBUNAL, THE PENALTY LEVIED BY AO AND CONFIRMED BY THE CIT(A) UNDER SECTION 271(1)(C) OF THE ACT WILL NOT SURVIVE. ACCORDINGLY WE SET ASIDE THE ORDER OF THE LOWER AUTHORITY AND DELETED THE PENALTY LEVIED UNDER SECTION 271(1)(C) OF THE ACT. 4 . IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 02 ND AUGUST, 2016. SD/ - (MAHAVIR SINGH) JUDICIAL MEMBER MUMBAI ; DATED: 02/ 08/2016 / 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 AG (ON TOUR) / LK DEKA,SR. PS