Lalitha Jewellery Mart P Ltd., CHENNAI V. DCIT, CHENNAI

MA 339/CHNY/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6559 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-05-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 13-04-2018
• Assessment Year: 2007-2008
• Appeal Filed On: 13-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: N MURALIKUMAR

Judgement Text

, , IN THE INCOME - TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . , . , BEFORE SHRI ABRAHAM P. GEORGE , ACCOUNTANT MEMBER & SHRI DUVVURU RL REDDY , JUDICIAL MEMBER M .P.NO . 33 9 / CHNY /2017 [IN I.T. A. NO. 2290 / CHNY /20 1 5 ] ASSESSMENT YEAR : 20 07 - 08 LALITHA JEWELLERY MART P. LTD., 123, USMAN ROAD, T. NAGAR, CHENNAI 600 017. [PAN: AAACL1523A] VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPA NY CIRCLE II(4), CHENNAI 600 014. ( / APPELLANT ) ( / RESPONDENT ) / APPELLANT BY : SHRI N. MURALIKUMAR, ADVOCATE / RESPONDENT BY : SHRI AR.V. SREENIVASAN , J CIT / DATE OF HEARING : 13 .0 4 .2018 / DATE OF P RONOUNCEMENT : 03 . 0 5 .201 8 / O R D E R PER DUVVURU RL REDDY , JUDICIAL MEMBER : BY MEANS OF PRESENT MISCELLANEOUS PETITION , THE ASSESSEE SEEKS TO REC ALL THE ORDER PASSED BY THE TRIBUNAL IN I.T.A. NO. 2290 /MDS/20 1 5 DATED 2 8 .0 7 .2017 RELEVANT TO THE ASSESSMENT YEAR 20 07 - 08 . BY REFERRING TO THE PETITION, THE LD. COUNSEL SUBMITTED THAT AGAINST CONFIRMATION OF ASSESSMENT VIDE ORDER IN I.T.A. NOS. 1871 & 2180/MDS/2010 DATED 15.04.2013, THE PETITIONER PREFERRED FURTHER APPEAL BEFORE THE HON BLE MADRAS HIGH COURT AND M .P. NO . 33 9 / CHNY/201 7 2 THE HON BLE HIGH COURT GRANTED STAY. AGAINST THE QUANTUM ADDITION, WHICH WAS SUBJECT MATTER IN APPEAL BEFORE HON BLE MADRAS HIGH COURT, THE TRIBUNAL IN I.T.A. NO. 2290/MDS/2015 DATED28.07.2017 CONFIRMED LEVY OF PENALTY UNDER SECT ION 271(1)(C) OF THE ACT . BY FILING COPY OF THE ORDER, AGAINST THE APPEALS OF THE ASSESSEE IN T.C.A. NOS. 435 & 436 OF 2013 AND MP NOS. 1 AND 1 OF 2014, THE HON BLE HIGH COURT DECIDED THE APPEAL IN TCA NO. 435 OF 2013 IN FAVOUR OF THE ASSESSEE AND TCA NO. 436 OF 2013 IN FAVOUR OF THE REVENUE, THE LD. COUNSEL PRAYED THAT THE ORDER OF THE TRIBUNAL IN I.T.A. NO. 2290/MDS/2015 DATED 28.07.2017 MAY PLEASE BE RECALLED AND POSTED FOR HEARING AND DECIDE THE ISSUE IN VIEW OF THE DIRECTIONS OF THE HON BLE HIGH COURT. 2. THE LD. DR DID NOT OBJECT TO THE SUBMISSIONS OF THE LD. COUNSEL FOR THE ASSESSEE. 3. WE HAVE HEARD BOTH SIDES AND PERUSED THE PETITION FILED BY THE ASSESSEE. PENDING ADJUDICATION OF APPEALS FILED AGAINST CONFIRMATION OF ASSESSMENT BEFORE THE HON BLE JURISDICTIONAL HIGH COURT , THE APPEAL FILED AGAINST CONFIRMATION OF LEVY OF PENALTY UNDER SECTION 271(1)(C) OF THE ACT WAS SUSTAINED BY THE TRIBUNAL. SINCE THE HON BLE HIGH COURT HAS GIVEN ITS VERDICT ON THE APPEALS FILED BY THE ASSESSEE IN TCA NOS. 435 AND 436 OF 2013 VIDE ORDER DATED 11.08.2017 , THE ORDER PASSED BY THE TRIBUNAL DATED 28.07.2017 AGAINST LEVY OF PENALTY STANDS RECALLED AND POSTED THE APPEAL FOR HEARING ON M .P. NO . 33 9 / CHNY/201 7 3 REGULAR COURSE BY ISSUE OF NOTICE THROUGH RPAD. THUS, THE MP FILED BY THE PETITI ONER STANDS ALLOWED. 4. IN THE RESULT, THE M.P. FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED ON THE 03 RD MAY, 201 8 AT CHENNAI. SD/ - SD/ - ( ABRAHAM P. GEORGE ) ACCOUNTANT MEMBER ( DUVVURU RL REDDY ) JUDICIAL MEMBER CHENNAI, DATED, THE 03 .0 5 . 201 8 VM / - / COPY TO: 1. / APPELLANT , 2. / RESPONDENT , 3. ( ) / CIT(A) , 4. / CIT , 5. / DR & 6. / GF.