HOTEL RADHIKA ,KOLHAPUR vs. INCOME-TAX OFFICER, WARD 2(1), KOLHAPUR , KOLHAPUR
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Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE
Before: SHRI INTURI RAMA RAO & Ms. ASTHA CHANDRA
PER INTURI RAMA RAO, AM:
This is an appeal filed by the assessee directed against the order of National Faceless Appeal Centre (NFAC), Delhi dated 29.11.2023 confirming the levy of penalty u/s.270A of the Income-tax Act, 1961 (hereinafter referred to as ‘The Act’) for the assessment year 2018-19.
Briefly, the facts of the case are that the appellant is a Partnership firm. The Return of Income for the A.Y. 2018-19 was filed on 29.10.2018 declaring income of Rs.2,37,630/-. Against the said return of income, the assessment was completed by the Assessing Officer (AO) at a total income of Rs.11,11,618/-. While doing so, the AO made the
ITA No.755/PUN/2024
disallowance of interest on remuneration paid to partners of Rs.7,95,058/- and also made addition of Rs.78,930/, being interest on income-tax refund. Thereafter, the AO levied penalty of Rs.4,91,346/- u/s.270A of the Act on account of misreporting of income.
Being aggrieved, an appeal was filed before the CIT(A)/NFAC who vide impugned order confirmed the levy of penalty.
Being aggrieved, the appellant is in appeal before the Tribunal in the present appeal.
We heard the rival submissions and carefully perused the relevant material on record. The quantum appeal – ITA No.754/PUN/2024 in respect of which the penalty was levied u/s.270A was restored to the file of CIT(A). Therefore, in the fitness of things, in our considered view, this penalty order shall also be remanded back to the file of the CIT(A) for denovo assessment of penalty in accordance with law.
In the result, the appeal filed by the assessee stands partly allowed for statistical purpose.
Order pronounced on this 31st day of May, 2024.
Sd/- Sd/- (ASTHA CHANDRA) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; �दनांक / Dated : 31st May, 2024 Satish
ITA No.755/PUN/2024
आदेश क� �ितिलिप अ�ेिषत / Copy of the Order forwarded to : अपीलाथ� / The Appellant. 1. ��यथ� / The Respondent. 2. 3. The Pr.CIT concerned 4. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, “SMC” ब�च, पुणे / DR, ITAT, SMC” Bench, Pune. गाड� फ़ाइल / Guard File. 5. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune
