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Income Tax Appellate Tribunal, ‘G’ BENCH
आदेश / O R D E R PER SUNIL KUMAR SINGH (J.M): The facts and issues under both the appeals are similar except the difference in the amount of penalty. Both the appeals are being disposed of by this common order for the sake of brevity
This appeal is directed against the impugned order dated 19.09.2024 passed in Appeal no. NFAC/2013-14/10100450 by the Ld. Commissioner of Income–tax(Appeals)/ National Faceless Appeal Centre (NFAC) [hereinafter referred to as the “CIT(A)”] u/s. 250 of the Income-Tax Act, 1961 [hereinafter referred to as "Act"] for the Assessment year [A.Y.] 2014-15, wherein learned CIT(A) has allowed assessee’s appeal by deleting the penalty of Rs. 1,60,35,700/- imposed u/s. 271(1)(C) of the Act.
The brief facts related to this appeal state that the assessee, an individual, carrying on business, earned capital gain and income from other sources and e-filed return of income for A.Y. 2014-15 on 27.09.2014, declaring total income of Rs. 6,89,160/-. The return was processed u/s. 143(1) of the Act. Subsequently, on the basis of search/survey/inquiries conducted in the case of assessee/brokers/operators/entry providers, the return was reopened and notice u/s. 148 r.w.s 147 of the Act were issued and served upon the assessee. on the basis of assessee’s submissions, learned assessing officer passed order u/s. 143(3) r.w.s 147 of the Act and added Rs. 5,18,95,425/- in the total income of the assessee u/s. 68 of the Act and further added commission @3% on the above sum to the extent of Rs. 15,56,863/- u/s. 69C of the Act. Penalty proceedings u/s. 271(1)(C) of the Act were also initiated and a penalty of Rs. & 5771/MUM/2024 Gopal Nihchaldas Pariani 1,60,35,700/- was also imposed. Aggrieved, assessee preferred an appeal against the penalty order before learned CIT(A), who has allowed assessee’s appeal and deleted the above said penalty.
Revenue has preferred this appeal on the following grounds: “ a) Whether on the facts and circumstances of the case and in law, Ld. CIT(A) was correct in directing the AO to delete the penalty of Rs.1,60,35,700/- u/s.271(1)(c) of the Income Tax Act, 1961. (b) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) was correct in deleting penalty simply by relying upon the order of the ITAT, deleting the quantum addition, against which the department has filed further appeal. “
4. We have perused the records and heard learned representatives for the parties.
5. Learned representative for the assessee has filed the copy of common order dated 24.02.2023 passed by this Tribunal in for A.Y. 2014-15 and ITA No. 7762/MUM/2019 for A.Y. 2015-16 related to the quantum appeal and submitted that the Tribunal has confirmed the deletion of the said penalty for both assessment years.
6. Learned DR has submitted that the revenue has filed an appeal before Hon’ble High Court against the order of quantum deletion passed by this Tribunal but could not furnish any order barring this Tribunal from proceeding further.
7. We notice that the Tribunal, vide common order dated 24.02.2023, passed in for A.Y. 2014- 15 and ITA No. 7762/MUM/2019 for A.Y. 2015-16 has deleted the quantum addition. The penalty imposed in consequence of the said addition stands deleted. The impugned order dated
The facts and issue involved in this appeal are similar as that in except that the amount of penalty imposed is Rs. 66,18,100/-. The quantum addition in this appeal has also been deleted by the Tribunal vide common order dated 24.02.2023. Our findings arrived at shall mutatis mutandis apply to this appeal also. The penalty imposed in this appeal also stands deleted.
In the result, both these revenue appeals ITA No. 5778/Mum/2024 for A.Y. 2014–15 and A.Y. 2015-16 are dismissed. Impugned orders dated 19.09.2024 are set aside. Let the copy of this order be placed on the records of . Order pronounced in open court on 08 .01.2025.