ACIT CC 39, MUMBAI vs. VAYU LAND P.LTD, NAVI MUMBAI

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ITA 600/MUM/2014Status: DisposedITAT Mumbai09 December 2015AY 2008-093 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found that the basis for levying the penalty was removed by the deletion of the quantum additions. Therefore, there was no reason to interfere with the CIT(A)'s order.

What were the facts?

The Revenue appealed against the deletion of penalty levied under Section 271(1)(c) by the CIT(A). The CIT(A) had deleted the penalty based on the Tribunal's earlier decision to delete the quantum additions made under Section 69C.

What were the issues?

Whether penalty under Section 271(1)(c) can be sustained when the underlying addition is deleted by the Tribunal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 69C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI N.K. BILLAIYA & SHRI PAWAN SINGH

Hearing: 09.12.2015Pronounced: 09.12

PER N.K. BILLAIYA, AM:

1.

This appeal by the Revenue is preferred against the order of the Ld. CIT(A)-41,Mumbai dated 29.10.2013 pertaining to Assessment year 2008-09.

2.

The sole grievance of the Revenue is that the Ld. CIT(A) erred in deleting the penalty levied u/s. 271(1)(c) of the Act.

3.

At the very outset, the Ld. Counsel for the assessee stated that the order of the Ld. CIT(A) is based on the deletion of the quantum addition by the Tribunal in & 8161/M/2011.

4.

The Ld. Departmental Representative fairly conceded to this.

5.

We have gone through the orders of the First appellate authority. We find that the Ld. CIT(A) has deleted the penalty by following the order of the Tribunal in assessee’s own case (supra) by which the Tribunal has deleted the additions made u/s. 69C of the Act. Since the very foundation for imposition of penalty is removed by the Tribunal, we do not find any reason to interfere with the findings of the Ld. CIT(A).

6.

In the result, the appeal filed by the Revenue is dismissed.

Order pronounced in the open court at the time of hearing on 9th December, 2015.

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