VISHWAJIT C. CHINDARKAR,MUMBAI vs. DCIT -22(2), MMBAI

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ITA 1694/MUM/2022Status: DisposedITAT Mumbai15 November 2022AY 2008-093 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 addition on which the penalty was levied was deleted, the penalty itself does not survive. Therefore, the impugned order levying the penalty was set aside.

What were the facts?

The Assessing Officer made an addition on account of cash deposits, leading to a penalty under Section 271(1)(c). The assessee appealed against the penalty after the addition was deleted by the Tribunal in a separate appeal.

What were the issues?

Whether a penalty under Section 271(1)(c) can be sustained when the underlying addition has been deleted by the appellate tribunal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 143(3)

AI-generated summary — verify with the full judgment below

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

Hearing: 22/08/2022Pronounced: 15/11/2022

आयकर अपील�य अ�धकरण मुंबई पीठ “एफ़ ”, मुंबई �ी �वकास अव�थी, �या�यक सद�य एवं �ी एस. �रफौर रहमान, लेखा सद�य के सम� IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ F ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI S.RIFAUR RAHMAN , ACCOUNTANT MEMBER आअसं.1694/मुं/2022 (�न.व. 2008-09) (A.Y.2008-09) Mr. Vishwajit C. Chindarkar, M/s. CH & Co., Shop No.5, Gr.Floor, Neelkanth Shopping Arcade, Mumbai 400 071. PAN: ACXPC-8042-M. ...... अपीलाथ� /Appellant बनाम Vs. The DCIT – 22(2), Mumbai. ..... ��तवाद�/Respondent अपीलाथ� �वारा/ Appellant by : None ��तवाद� �वारा/Respondent by : Ms. Vranda U Matkarni सुनवाई क� �त�थ/ Date of hearing : 22/08/2022 घोषणा क� �त�थ/ Date of pronouncement : 15/11/2022 आदेश/ ORDER PER VIKASH AWASTHY, JM:

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [ion short ‘ the CIT(A) ] dated 28/03/2022 for the Assessment Year 2008-09, confirming penalty levied u/s. 271(1)(c) of the Income Tax Act, 1961 ( in short ‘the Act’].

2.

The Assessing Officer vide assessment order dated 27/12/2010 passed u/s. 143(3) of the Act inter-alia made addition of Rs.49,54,600/- on account of cash deposits in the bank account. Penalty proceedings u/s. 271(1)(c) of the Act in respect of aforesaid addition were initiated. The Assessing Officer vide order dated 14/03/2013 levied penalty of Rs.16,84,068/- in respect of the aforesaid addition. The assessee remained unsuccessful before the CIT(A) in quantum proceedings. Thereafter, the assessee filed appeal in before the Tribunal, inter-alia, assailing the addition of Rs.49,54,600/- confirmed by the CIT(A) . The Tribunal vide order dated 13/09/2017 deleted the said addition. The assessee in the mean time filed appeal against the order levying penalty u/s. 271(1)(c) of the Act. The CIT(A) vide impugned order upheld the levy of penalty. Hence, the present appeal by the assessee.

3.

Since, the addition on which penalty u/s. 271(1)(c) of the Act was levied has been deleted by the Tribunal vide (supra), the penalty does not survive.

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