ACIT, CIRCLE-40, KOLKATA, KOLKATA vs. M/S WEST BENGAL STATE CONSUMERS CO-OPERATIVE FEDERATION LIMITED, KOLKATA

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ITA 1641/KOL/2016Status: DisposedITAT Kolkata24 January 2018AY 2011-121 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 upheld the decision of the CIT(A) to cancel the penalty. The Tribunal found that the imposition of penalty could not be sustained.

What were the facts?

The Assessing Officer (AO) imposed a penalty on the assessee. The Commissioner of Income Tax (Appeals) [CIT(A)] cancelled this penalty. The revenue appealed this cancellation to the ITAT.

What were the issues?

Whether the penalty imposed by the AO under Section 271(1)(c) was justified and if the cancellation by the CIT(A) was correct.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

CO 54/Kol.2016 W.B. State Consumer coop. Federation Ltd., AYs- 2011-12 accepted. We therefore hold that imposition of penalty in the present case cannot be sustained and the same is directed to be cancelled.” Respectfully following the aforesaid order of the coordinate bench of this Tribunal, we, therefore, hold that imposition of penalty in the present case cannot be sustained and the same has rightly been cancelled by the Ld. CIT(A), which we uphold. Appeal of revenue is dismissed

7.

`The Cross Objection filed by the assessee per se is supportive in nature and since we confirm the order of Ld. CIT(A) in cancelling the penalty imposed by the AO u/s. 271(1)(c) of the Act, the Cross Objection filed by the assessee is also dismissed as infructuous.

8.

In the result, appeal of revenue and the Cross Objection of assessee both are dismissed.

Order is pronounced in the open court on 24.01.2018 Sd/- Sd/- (Dr.A. L. Saini) (Aby. T. Varkey) Accountant Member Judicial Member

Dated : 24th January, 2018 Jd.(Sr.P.S.) Copy of the order forwarded to:

1.

Appellant – ACIT, Circle-40, Kolkata. 2 Respondent – M/s. West Bengal State Consumer Co-operative Federation Ltd., P-1, Hide Road, Kolkata-700 073. 3. The CIT(A) Kolkata.

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