M/S. IMAGE PROMOTERS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

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ITA 2137/DEL/2017Status: DisposedITAT Delhi08 July 2019AY 2005-063 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue of penalty to the file of the CIT(A) for fresh adjudication. The CIT(A) was directed to decide the issue afresh after considering the facts and law and providing an opportunity to the assessee.

What were the facts?

The assessee appealed against the penalty levied by the Assessing Officer and confirmed by the CIT(A) for the assessment year 2005-06. The penalty amount was Rs. 12 lacs.

What were the issues?

The primary issue was the validity of the penalty levied under Section 271(1)(c) of the Income Tax Act. The appeal was decided based on the restoration of quantum proceedings.

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, DELHI BENCH ‘C’, NEW DELHI

Before: SH. R. K. PANDA & SH. SUDHANSHU SRIVASTAVA

For Respondent: Shri Naina Soin Kapil, Sr. DR
Hearing: 02/07/2019Pronounced: 08/07/2019

This appeal filed by the assessee is directed against the order dated 17.02.2017 of the CIT(A)-30, New Delhi relating to A. Y. 2005-06.

2.

Levy of penalty of Rs.12 lacs by the Assessing Officer u/s. 271 (1) (c ) which has been confirmed by the CIT(A) is the only issued raised by the assessee in the grounds of appeal.

3.

We have heard the rival arguments made by both the sides. The Ld. Counsel for the assessee drew the attention of the bench to the order of the Tribunal in assessee’s own case vide order dated 29.03.2019 for the A. Y. 2005-06 wherein the matter has been restored to the file of the CIT(A) in the quantum proceedings for fresh adjudication.

4.

In view of the above we restore this issue of penalty to the file of the CIT(A) with a direction to decide the issue afresh. The Ld. CIT(A) shall decide the issue as per fact and law after giving due opportunity of being heard to the assessee. We hold and direct accordingly.

5.

In the result, the appeal filed by the assessee is allowed for statistical purpose. Order pronounced in the open court on 08.07.2019.

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