CAPCO FINANCE & INVESTMENT PRIVATE LIMITED,MUMBAI vs. ITO WARD 15(1)(1) MUMBAI, MUMBAI

PDF · subscribers
ITA 6463/MUM/2025Status: DisposedITAT Mumbai02 December 2025AY 2012-13Bench: SHRI NARENDER KUMAR CHOUDHRY (Judicial Member), MS. RENU JAUHRI (Accountant Member)3 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the foundation of the penalty (the assessment order) was collapsed, the penalty also could not stand. Therefore, the penalty was deleted.

What were the facts?

The assessee appealed against an order levying a penalty, which was based on an assessment order. The assessment order itself had been quashed by a coordinate bench of the tribunal.

What were the issues?

Whether a penalty, levied based on an assessment order that has been subsequently quashed, can be sustained?

Which sections of the Income-tax Act were involved?

Section 250,Section 143(3),Section 147,Section 271(1)(C)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “C”, MUMBAI

Before: SHRI NARENDER KUMAR CHOUDHRY & MS. RENU JAUHRI

For Appellant: Shri Manish Sheth, Ld. A.R
For Respondent: Shri Virbhadra S. Mahajan, Ld. Sr. D.R
Hearing: 02.12.2025Pronounced: 02.12.2025

O R D E R

Per : Narender Kumar Choudhry, Judicial Member:

1.

This appeal has been preferred by the Assessee against the order dated 28.05.2025, impugned herein, passed by the National Faceless Appeal Center (NFAC)/ Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) u/s 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y. 2012-13.

The parties have submitted that the Assessment Order 2. dt. 20/12/2019 u/s 143 (3) r.w.s.147 of the act, on the basis of which penalty to the tune of Rs. 4,36,323/- has been levied vide order dt. 25.06.2021 u/s 271 (1)(C) of the M/s. Capco Finance & Investment Private Ltd. (Stuck off) act by the AO, has already been quashed by the Hon’ble Co- ordinate Bench of the Tribunal vide order dt. 20/02/2025 passed in ITA No. 44/M/2025.

3.

As a foundation of the penalty levied, has already been collapsed and thus the penalty levied, will also face the same consequences, thus, the penalty levied is deleted.

4.

Resultantly, the appeal filed by the Assessee is allowed. Order pronounced in the open court on 02.12.2025.

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →