MR. SANJAY R. TARUKHIA,MUMBAI vs. THE CIT (APPEALS)-34, MUMBAI

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ITA 1930/MUM/2020Status: DisposedITAT Mumbai10 November 2022AY 2009-103 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 decided to restore the penalty appeal to the CIT(A) as well, following the restoration of the quantum appeal. This decision was made for statistical purposes.

What were the facts?

The assessee's appeal against a penalty levied under section 271(1)(c) was before the ITAT. The assessee's quantum appeal for the same assessment year had been restored to the CIT(A) by a previous Tribunal order.

What were the issues?

Whether the penalty appeal should be restored to the CIT(A) when the related quantum appeal has been restored to the same authority.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 69A

AI-generated summary — verify with the full judgment below

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

Before: SHRI VIKAS AWASTHY & SHRI OM PRAKASH KANT

Hearing: 10/11/2022Pronounced: 10/11/2022

ORDER

PER VIKAS AWASTHY, JM:

1.

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals) -34, Mumbai [in short ‘the CIT(A)’ ] , dated 28/01/2016 for the assessment year 2009-10, vide which penalty levied under section 271(1)(c) of the Income Tax Act, 1961 [in short ‘the Act’] has been upheld.

2.

Shri Mukesh Chokshi appearing on behalf of the assessee submitted at the outset that the Tribunal in vide order dated 29/09/2022 has restored the quantum appeal of the assessee to the CIT(A). Therefore, the penalty appeal may also be restored to the file of CIT(A).

3.

Ms. Smita Nair representing the Department raised no objection to the restoration of the present appeal to the file of CIT(A).

4.

Both sides heard. The present appeal has filed by the assessee assailing penalty levied under section 271(1)(c) of the Act. The SMC Bench of the Tribunal in vide order dated 29/09/2022 has restored the quantum appeal of the assessee to the file of CIT(A). In assessment proceedings the Assessing Officer made addition of Rs.34,66,384/- under section 69A of the Act. The penalty under section 271(1)(c) of the Act has been levied in respect of the aforesaid addition. Since, the quantum appeal has been restored to CIT(A), we deem it appropriate to restore the penalty appeal to the CIT(A) as well. The appeal of the assessee is thus, allowed for statistical purpose.

5.

In the result, appeal by the assessee is allowed for statistical purpose.

Order pronounced in the open court on Thursday the 10th day of November, 2022.

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