Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI D. KARUNAKARA RAO & SHRI SAKTIJIT DEY
सुनवाई की तायीख / Date of Hearing : 31.08.2016 घोषणा की तायीख /Date of Pronouncement : 23.09.2016 आदेश / O R D E R
PER D. KARUNAKARA RAO, AM:
This appeal filed by the assessee on 15.7.2014 is against the order of the CIT (A)-9, Mumbai dated 3.6.2014 for the assessment year 2009-2010. In this appeal, assessee raised the following grounds which read as under: “1. The order passed by the Ld CIT (A), Mumbai confirming the levy of penalty u/s 271C of the Income Tax Act, 1961 by the Assessing Officer is both bad in law and bad in facts.
2. The Ld CIT (A) erred in law as well as in facts in confirming the levy of penalty of Rs. 16,96,382/- u/s 271C of the Income Tax Act, 1961 in spite of the fact that the assessee‟s quantum appeal regarding levy of TDS on payment of lease premium to MMRDS was pending before the CIT (A)-12, Mumbai and this fact was in knowledge of the CIT (A).”
2. The only issue involved in this appeal relates to the penalty u/s 271C of the Act. Brief facts include that in the order u/s 201(1) / 201(1A) of the Act, AO observed that the assessee had made lease premium payment of Rs. 60,55,050/- to M/s. Metropolitan Region Development Authority (MMRDS). AO opined that the same amount attracts TDS u/s 194I of the Act. Considering the assessee‟s non- compliance of the provision of section 194I of the Act as well as the assessee‟s