SIDHI VINAYAK METCOM LIMITED,KOLKATA V. ASSISTANT COMMISSIONER OF INCOME TAX, JAMSHEDPUR

MA 18/RAN/2025

AI Insights

The case involves Sidhi Vinayak Metcom Limited, the appellant, contesting a penalty levied under section 271AAB of the Income Tax Act, 1961, by the ACIT, Central Circle, Jamshedpur, the respondent. Initially, the Tribunal had confirmed the penalty in its order dated 09.06.2025. However, the appellant filed a miscellaneous application seeking rectification of this order, citing similar cases (Gajanan Ferro Private Limited and Panda Infratech Limited) where penalties under the same section were deleted. The Tribunal, upon reviewing the submissions and precedents, acknowledged the error in their previous order and allowed the application, thus setting the stage for a re-evaluation of the penalty in accordance with the cited precedents.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 827291 (ITAT-RANCHI)
• Duration Of Justice: 3 month(s) 4 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 09-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2018-2019
• Appeal Filed On: 05-10-2025
• Other Referred Cases: Gajanan Ferro Private Limited, Panda Infratech Limited
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAM CHANDRA MARNDI
• Assessee Lawyers: AKSHAY RINGASIA
• Section: 2

Judgement Text

" आयकर अपीलीय अधिकरण, र ाँची न्य यपीठ, र ाँची IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI GEORGE MATHAN, JM & SHRI RATNESH NANDAN SAHAY, AM Miscellaneous Application No.18/RAN/2025 (Arising out of ITA No.79/Ran/2024) (निि ारण वर्ा /Assessment Year : 2018-2019) Sidhi Vinayak Metcom Limited C-2, 2nd Floor, Basant Jamini Rd Contractors Area, Bistupur Jamshedpur-831001 Vs ACIT, Central Circle, Jamshedpur PAN No. :AAICS 3599 K (अपील र्थी /Appellant) .. (प्रत्यर्थी / Respondent) निि ाररती की ओर से /Assessee by : Shri Akshay Ringasia, CA र जस्व की ओर से /Revenue by : Shri Ram Chandra Marndi, Sr. DR सुनवाई की तारीख / Date of Hearing : 09/01/2026 घोषणा की तारीख/Date of Pronouncement : 09/01/2026 आदेश / O R D E R Per George Mathan, JM: This miscellaneous application is filed by the assessee for rectification/recalling of the order passed by the Tribunal dated 09.06.2025 in ITA No.79/Ran/2024. 2. In the miscellaneous application the assessee submitted that the bench has confirmed the levy of penalty, though in the open court it was pronounced by the bench that the appeal of the assessee was allowed in regard to penalty levied u/s.271AAB of the Act. It was the submission that the coordinate bench has also under identical circumstances in the case of Gajanan Ferro Private Limited passed in ITA No.139&140/Ran/2023, order dated 10.03.2025 and in the case of Panda Infratech Limited, passed in ITA No.416/CTK/2024, order dated 16.12.2024 has deleted the penalty levied Printed from counselvise.com MA No.18/Ran/2025 2 u/s.271AAB of the Act. Therefore, ld. AR prayed that the miscellaneous application may kindly be allowed and the appeal of the assessee may kindly be restored to its original number to be decided on merits considering the above identical orders of the coordinate bench of the Tribunal. 3. In reply, ld.Sr. DR vehemently supported the order of the Tribunal. 4. We have considered the rival submissions. A perusal of the facts in the present case clearly shows that admittedly there is a mistake in the order of the Tribunal dated 09.05.2025. Consequently, the order of the Tribunal is recalled and the appeal is directed to be posted for hearing in regular course. 5. In the result, miscellaneous application stands allowed. Order dictated and pronounced in the open court on 09/01/2026. Sd/- (RATNESH NANDAN SAHAY) Sd/- (GEORGE MATHAN) लेख सदस्य / ACCOUNTANT MEMBER न्य नयक सदस्य / JUDICIAL MEMBER र ाँची Ranchi; दिनाांक Dated 09/01/2026 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनतललपप अग्रेपर्त/Copy of the Order forwarded to : आदेश िुस र/ BY ORDER, (Senior Private Secretary) आयकर अपीलीय अधिकरण, र ाँची / ITAT, Ranchi 1. अपीलार्थी / The Appellant- . 2. प्रत्यर्थी / The Respondent- 3. आयकर आयुक्त(अपील) / The CIT(A), 4. आयकर आयुक्त / CIT 5. विभागीय प्रविविवि, आयकर अपीलीय अविकरण, र ाँची / DR, ITAT, Ranchi 6. गार्ड फाईल / Guard file. सत्यापपत प्रतत //True Copy// Printed from counselvise.com "