HETAL R SHAH,MUMBAI vs. ITO 24(1)(4), MUMBAI

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ITA 7318/MUM/2012Status: DisposedITAT Mumbai09 December 2015AY 2005-062 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The assessee moved an application to withdraw the appeal, and the revenue had no objection. The Tribunal allowed the withdrawal of the appeal.

What were the facts?

The assessee appealed against the penalty levied on an addition of Rs. 450,000/- treated as bogus gifts. The assessee also contended that the CIT(A) passed the order without providing an opportunity for a personal hearing.

What were the issues?

The primary issue was the validity of the penalty on additions made under Section 68 and the procedural fairness of the CIT(A)'s order. However, the appeal was withdrawn before these issues were adjudicated.

Which sections of the Income-tax Act were involved?

Section 68,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “H” BENCH, MUMBAI

Before: SHRI RAJENDRA, AM & SHRI SANDEEP GOSAIN, AM

For Appellant: Shri Hiren R. Shah, Ms. Kusum Bansal
Hearing: 24.11.2015Pronounced: 09.12.2015

आदेश / O R D E R

PER SANDEEP GOSAIN, J.M This appeal is preferred by assessee against the order dated 25.09.2012 passed by CIT(A)-34, Mumbai and it pertains to A.Y. 2005-06.

2.

Assessee has raised the following grounds before the Tribunal:-

1.

“On the facts and in the circumstances of the case and in law, the ld. C.I.T. (APPEALS) erred in levying the penalty on addition of Rs.450,000/- u/s 68 as bogus gifts received.

The appellant pray that levy of penalty u/s. 271(1)(c) of the I tax Act on addition of Rs.450,000/- u/s 68 as bogus gifts received should be deleted. while passing the order by C.I.T. (Appeals), we have not given the opportunity for a personal hearing and without giving opportunity of hearing order have been passed.”

3.

During the course of hearing the learned counsel of the assessee moved an application dated 24.12.2015 for withdrawal of the appeal to which Revenue has no objection. We, therefore, allow assessee to withdraw its appeal. Accordingly this appeal is dismissed as withdrawn.

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