DEPUTY COMMISSIONER OF INCOME-TAX, PNVEL CIRCLE, PANVEL vs. M/S. JOHNSON MATTHEY CHEMICALS INDIA PVT.LTD, RAIGAD

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ITA 1723/PUN/2018Status: HeardITAT Pune14 January 2022AY 2006-074 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 held that since the additions forming the basis for the penalty were deleted by the Tribunal itself, the foundation for imposing the penalty ceased to exist. Therefore, the deletion of the penalty by the CIT(A) was upheld.

What were the facts?

The Revenue appealed against the deletion of penalties imposed under Section 271(1)(c) for two assessment years. The penalties were levied based on additions made by the Assessing Officer, which were subsequently deleted by the Income Tax Appellate Tribunal.

What were the issues?

Whether penalty under Section 271(1)(c) can be sustained when the additions on which it was based have been deleted by the Tribunal.

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, PUNE BENCH, ‘A’ PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI S.S.VISWANETHRA RAVI

For Appellant: Shri Rajendra Agiwal
For Respondent: Shri S.P. Walimbe

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent; 3. The CIT(A)-2, Thane 4. The PCIT-2, Thane 5. DR, ITAT, ‘A’ Bench, Pune 6. ग र्ड फ ईल / Guard file.

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 14-01-2022 Sr.PS 2. Draft placed before author 14-01-2022 Sr.PS 3. Draft proposed & placed before JM the second member 4. Draft discussed/approved by JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

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