M/S. MEHTA REALTORS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

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ITA 4548/DEL/2014Status: DisposedITAT Delhi31 May 2017AY 2004-054 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal had previously deleted the addition that formed the basis for the penalty. Therefore, the penalty could not stand.

What were the facts?

The assessee appealed against the penalty levied under section 271(1)(c). The penalty was based on an addition made in the assessment order.

What were the issues?

Whether a penalty under Section 271(1)(c) can be sustained when the underlying addition has 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, [ DELHI BENCHES: “E” NEW DELHI ]

Before: SHRI I. C. SUDHIR & SHRI PRASHANT MAHARISHI

For Appellant: Shri Anunav Kumar, Adv.;
For Respondent: Shri Rajesh Kumar, Sr. D. R
Hearing: 31.05.2017Pronounced: 31.05.2017

of penalty has been deleted by the Tribunal in the case of assessee itself for the assessment year under consideration vide order dated 13.12.2016 in a copy of which has been made available to the Bench with a copy to the other side.

2.

Having gone through the said order dated 13.12.2016 of the Tribunal, we find that the assessment framed under section 147 / 143(3) of the Act, which is subject matter of levy of penalty in the present case, has been held invalid and has been quashed accordingly. In view of these developments, the levy of penalty in question does not stand. The present appeal for the assessment year 2004-05 is accordingly allowed.

3.

In result, appeal is allowed.

4.

The order is pronounced in the Open Court on: 31.05.2017.

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