CAPCO FINANCE & INVESTMENT PRIVATE LIMITED,MUMBAI vs. ITO WARD 15(1)(1) MUMBAI, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY & MS. RENU JAUHRIAssessment Year: 2012-13
Per : Narender Kumar Choudhry, Judicial Member:
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. 2. The parties have submitted that the Assessment Order 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)
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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.
Resultantly, the appeal filed by the Assessee is allowed. Order pronounced in the open court on 02.12.2025. (RENU JAUHRI) (NARENDER KUMAR CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER
* Kishore, Sr. P.S.
Copy to: The Appellant
The Respondent
The CIT, Concerned, Mumbai
The DR Concerned Bench
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By Order
Dy/Asstt.