MARBLE IMPEX PVT. LTD.,KOLKATA vs. ITO, WARD - 4(2), KOLKATA

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ITA 144/KOL/2022Status: HeardITAT Kolkata14 June 2022AY 2008-092 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 noted that the quantum assessment and additions, which formed the basis for the penalty, had already been quashed by a previous Tribunal order. Therefore, the penalty had no valid foundation.

What were the facts?

The assessee appealed against a penalty levied under Section 271(1)(c) of the Income Tax Act. The penalty was based on additions made in the assessment order for the assessment year 2008-09.

What were the issues?

Whether a penalty under Section 271(1)(c) can be sustained when the underlying additions forming the basis of the penalty have been deleted.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A”

Before: Shri Sanjay Garg & Shri Rajesh Kumar

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Rajesh Kumar, Accountant Member Assessment Year: 2008-09 Marble Impex Pvt. Ltd.…..............................................................……….……Appellant Room No.29, 2nd Floor, 13, Pollock Street, Kolkata. [PAN: AACCM0608B] vs. ITO, Ward-4(2), Kolkata….……….…..…...............……........……...…..…..Respondent Appearances by: Shri Anil Kochar, Advocate, appeared on behalf of the appellant. Shri Biswanath Das, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : June 8, 2022 Date of pronouncing the order : June 14, 2022

ORDER

Per Sanjay Garg, Judicial Member:

1.

The present appeal has been preferred by the assessee against the order dated 08.11.2021 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’]. The assessee in this appeal has agitated the levy of penalty u/s 271(1)(c) of the Income Tax Act (hereinafter referred to as the ‘Act’).

2.

At the outset, the ld. Counsel for the assessee has invited our attention to the order of the Tribunal 10.01.2020 passed in for assessment year 2008-09 stating that the quantum assessment/additions in relation to which the impugned penalty has been levied by the Assessing Officer stood quashed by the Tribunal vide aforesaid order dated 10.01.2020.

3.

Since the assessment in the course of which the impugned penalty initiated and the basis of penalty that is the impugned addition stood deleted by the order of the Tribunal dated 10.01.2020, therefore, the impugned penalty has no legs to stand and the same is accordingly ordered to be deleted.

Assessment Year: 2008-09 Marble Impex Pvt. Ltd 4. In the result, the appeal of the assessee stands allowed. Kolkata, the 14th June, 2022.

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