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Income Tax Appellate Tribunal, MUMBAI‘F’ BENCH, MUMBAI
Appearances by Vinay Sheel Gautamfor the appellant Ankita Lunia for the respondent Date of concluding the hearing: : December 18,2019 March 12th ,2020 Date of pronouncement : ORDER Per Bench: This appeal, filed by the Assessing Officer, is directed against the order dated 19th 1. July 2018 passed by the CIT(A) in the matter of penalty under section 271(1)(c) of the Income Tax Act, 1961, for the assessment year 2011-12.
Grievance of the appellant, in substance, is that the learned CIT(A) erred in deleting the penalty of Rs 1,26,622 imposed on the assessee under section 271(1)(c) of the Act.
As learned representatives fairly agree, learned CIT(A) has deleted the impugned additions by following various orders of the coordinate benches holding that a penalty under section 271(1)(c) will not hold good in law where alleged additions on account of bogus purchases has been only partly confirmed by the CIT(A), entirely based on estimation. Learned Departmental Representative accepts this factual position but relies upon the order of the Assessing Officer nevertheless. In view of the smallness of amount, and view of direct decisions of the coordinate benches in favour of the assessee on the same point, he does not Assessment year: 2011-12 Page 2 of 2 pursue the matter further beyond placing reliance, and somewhat bland reliance, on the stand of the Assessing Officer.
In view of the above positions, looking to the smallness of amount and looking to a large number of judicial precedents in favour of the assessee, on materially similar facts, we see no need to interfere in the matter. We approve the conclusions arrived at by the learned CIT(A) and decline to interfere in the matter.
In the result, the appeal is dismissed. Order pronounced under rule 34(4) of the Income Tax (Appellate Tribunal) Rules, 1962, by placing the list of pronouncements being placed on the notice board.