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Income Tax Appellate Tribunal, “C” BENCH, MUMBAI
Before: SHRI MAHAVIR SINGH, JM & SHRI SANJAY ARORA, AM
सुनवाई क� तार�ख / : 07.7.2016 Date of Hearing घोषणा क� तार�ख / : 07.7.2016 Date of Pronouncement आदेश / O R D E R
Per Mahavir Singh, JM:
This is an Appeal by the Revenue directed against the Order by the Commissioner of Income Tax (Appeals)-22, Mumbai (‘CIT(A)’ for short) dated 10.9.2014, confirming the levy of penalty u/s. 271(1)(c) of the Income Tax Act, 1961 (‘the Act’ hereinafter) for the assessment year (A.Y.) 2009-10 vide order dated 26.3.2013.
At the outset, the ld. Authorized Representative (AR) of the assessee’s counsel submitted that in the case of Shri Chimanlal R. Savla vs. ITO (in dated 06.9.2013), the Co-ordinate Bench of this Tribunal has deleted the quantum addition, as such the penalty proceedings based on such quantum addition do not survive. The ld. DR does not disputed this fact. The copy of the order dated 06.9.2013
(A.Y. 2009-10) ITO vs. Chimanlal R. Savla (supra) forms part of the record. Recording the same, this order is allowed quashing the penalty proceedings. In the result, the Revenue’s appeal is dismissed. 3.