ACIT vs M/S. Amardeo Plastic Industries… | ITAT Mumbai 2020

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

Before: HON’BLE SHRI SAKTIJIT DEY, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Anuj Kisnadwala-Ld. AR

For Respondent: Shri Brajendra Kumar-Ld.-DR

1 Assessment Year: 2010-11 आयकर अपीलीय अिधकरण “ऐ” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI माननीय "ी श""जीत दे, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI SAKTIJIT DEY, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) आयकर अपील सं./ (िनधा"रण वष" / Assessment Year: 2010-11) ACIT-31(1) M/s Amardeo Plastic Industries Room No.602, 6th Floor Gala No.1, Virwani Indl. Estate बनाम/ Kautilya Bhawan Western Express Highway Vs. BKC, Bandra (E) Goregaon (E) Mumbai – 400 051 Mumbai – 400 063 PAN/GIR No. AAAFA-3965-E (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : Shri Anuj Kisnadwala-Ld. AR Revenue by : Shri Brajendra Kumar-Ld.-DR सुनवाई की तारीख/ : 02/12/2020 Date of Hearing घोषणा की तारीख / : 02/12/2020 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

By way of this appeal, the revenue contests the order of Ld. first appellate authority dated 26/02/2019 which has deleted the penalty of Rs.342 Lacs as levied by Ld. AO u/s 271(1)(c) vide order dated 28/03/2018. The assessment for the year under consideration was framed u/s 143(3) on 15/03/2013 wherein the assessee was saddled with certain additions under the head Capital Gains as well as under the head Income from House Property. Consequently penalty proceedings

ACIT CIR - 31(1), MUMBAI vs. M/S. AMARDEO PLASTIC INDUSTRIES, MUMBAI