Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI SHAMIM YAHYA, AM & SHRI RAM LAL NEGI, JM Shri Rajat Patel
O R D E R Per Shamim Yahya, A. M.:
This appeal by the assessee is directed against the order of the learned Commissioner of Income Tax (Appeals)-51, Mumbai (‘ld.CIT(A) for short) dated 13.06.2019 and pertains to the assessment year (A.Y.) 2008-09, wherein following penalty levied u/s.271(1)(c) has been confirmed as under: Assessment Year Amount of penalty 2008-09 Rs.3,64,260/- 2. At the outset, in this case, the ld. Counsel of the assessee submitted that the quantum appeal with reference to which this penalty has been levied has already been declared by the ITAT in favour of the assessee inasmuch as ITAT has quashed the assessment on jurisdictional ground.
Upon hearing both the parties and perusing the records, we find that quantum appeal with reference to which this penalty has been made is already been quashed by the ITAT in & 3185/Mum/2015 vide order dated 25.04.2019.
(Assessment Year: 2008-09) 4. In this view of the matter, when quantum appeal has already been decided in favour of the assessee, the penalty levied with reference to the same does not survive. Accordingly, we set aside the orders of the authorities below and delete the penalty.
In the result, the assessee’s appeal is allowed. Order pronounced under rule 34(4) of the Income Tax (Appellate Tribunal) Rules, 1962, by placing the details on the notice board on 09.03.2021