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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI
Before: SHRI D. KARUNAKARA RAO & SHRI RAM LAL NEGI
अऩीराथी की ओय से / Appellant by : Shri B.V. Jhaveri प्रत्मथी की ओय से/ Respondent by : Dr. A.K. Nayak, DR सुनवाई की तायीख / Date of Hearing : 17.04.2017 घोषणा की तायीख /Date of Pronouncement : 19.04.2017 आदेश / O R D E R
PER D. KARUNAKARA RAO, AM:
This appeal filed by the assessee on 16.4.2012 is against the order of the CIT (A)-18, Mumbai dated 29.2.2012 for the assessment year 2004-05. In this appeal, assessee raised four grounds in toto and they revolve around the CIT (A)’s decision in confirming the order of the AO u/s 271(1)(c) of the Act.
At the outset, Ld Counsel for the assessee submitted that the grounds raised
in this appeal need to be set aside to the file of the AO for fresh adjudication after giving effect to the order of the Tribunal in dated 22.12.2016 on merits of the addition.
3. After hearing the Ld Representatives of both the parties and on perusal of the above cited order of the Tribunal dated 22.12.2016 (supra), we find, the Tribunal deleted few additions (vide para 8) or remanded certain issues (para 12 of the said Tribunal’s order is relevant). Without going into the details of the same, we are of the opinion, the prayer of the assessee given in para 10 of his written submissions should be allowed. The said para reads as under:-
10. The assessee company, therefore, respectfully, submits that the order levying penalty u/s 271(1)(c) of the Act may be set aside and the penalty proceedings may be restored to the file of the Income Tax Officer with a direction to pass the order giving effect to the order of the Appellate Tribunal and thereafter to decide denovo whether it can be held that the assessee company has concealed its income in the year under consideration.
Considering the above and after hearing both the parties, we direct the AO to give effect to the order of the Tribunal and decide the levy of penalty denovo after granting a reasonable opportunity of being heard to the assessee as per the set principles of natural justice. Accordingly, grounds raised
by the assessee in the apeal are allowed for statistical purposes.
4. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 19th April, 2017.