DEPUTY COMMISSIONER OF INCOME TAX-9(2)(1), MUMBAI vs. M/S BENCHMARK COMPUTER SOLUTION PVT. LTD, MUMBAI

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ITA 5487/MUM/2019Status: DisposedITAT Mumbai03 March 2021AY 2011-123 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the deletion of the penalty. It reasoned that the additions were estimated and did not constitute concealment or inaccurate particulars. Furthermore, the revenue's appeal was not maintainable due to low tax effect.

What were the facts?

The Assessing Officer levied a penalty under Section 271(1)(c) for alleged bogus purchases. The CIT(A) deleted the penalty, holding that there was no concealment of income or furnishing of inaccurate particulars. The revenue appealed this deletion.

What were the issues?

Whether penalty under Section 271(1)(c) is leviable on estimated additions for unproved purchases and if the revenue's appeal is maintainable based on the tax effect.

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, “B” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Respondent: Shri Tharian Oommen- Ld. DR

1 M/s. Benchmark Computer Solution Pvt. Ltd. Assessment Year: 2011-12 आयकर अपीलीय अिधकरण “बी” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI माननीय "ी महावीर िसंह, उपा"" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing through Video Conferencing Mode) आयकरअपील सं./ (िनधा"रण वष" / Assessment Year: 2011-12) Pr.CIT- 9(2)(1) M/s. Benchmark Computer Solution Pvt. Ltd. Room No.655A, 6th Floor Unit-2, Second Floor, Jyoti Wire House बनाम Aaykar Bhawan, M.K.Road Plot No.23A, Shah Industrial Estate / Vs. Mumbai-400 020 Veera Desai Road, Andheri (W) Mumbai-400 058 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCB-3357-N (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : None Revenue by : Shri Tharian Oommen- Ld. DR सुनवाई की तारीख/ : 22/02/2021 Date of Hearing घोषणा की तारीख / : 03/03/2021 Date of Pronouncement आदेश / O R D E R

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