ACIT CC 39, MUMBAI vs. GANESH REALTY P.LTD, NAVI MUMBAI

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ITA 597/MUM/2014Status: DisposedITAT Mumbai04 November 2015AY 2008-092 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 noted that the addition itself had been deleted by the Tribunal in the quantum proceedings. Therefore, the penalty levied on that addition had no basis.

What were the facts?

The revenue appealed against a penalty levied under section 271(1)(c) for the assessment year 2008-09. The penalty was based on an addition made under section 69C.

What were the issues?

Whether penalty under section 271(1)(c) can be sustained when the underlying addition has been deleted in quantum proceedings.

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, MUMBAI BENCH “G”, MUMBAI

Before: SHRI AMIT SHUKLA & SHRI RAMIT KOCHAR

For Appellant: Shri Rajesh Ojha Shankar

ITA No. : 597/Mum/2014 (Assessment year: 2008-09) Asst Commissioner of Income Tax Vs M/s Ganesh Realty P Ltd, CC 39/Cent Cir 6(4), DN 215, Second Floor, R. No. 32(1), Ground Floor, Plot no. 6, Sector 11, Aayakar Bhavan, Dronagiri -400 702 �थयी लेखा सं.:PAN: AACCG 7367 B M K Road, Mumbai -400 020 अपीलाथ� (Appellant) ��यथ� (Respondent) Appellant by Shri Rajesh Ojha Shankar : Respondent by : Shri Ramesh Jain सुनवाई क� तार�ख /Date of Hearing : 04-11-2015 घोषणा क� तार�ख /Date of Pronouncement : 04-11-2015 आदेश ORDER अिमत शु�ला, �या. स.: PER AMIT SHUKLA, JM: The aforesaid appeal has been filed by the revenue against impugned order dated 30.10.2011, passed by CIT(A)-41, Mumbai, in relation to the penalty proceedings u/s 271(1)(c) for the assessment year 2008-09. The revenue is mainly aggrieved by levy of penalty of Rs. 19,55,970/- on account of addition made u/s 69C of Rs. 63,30,000/-.

2.

At the outset, it has been admitted by the parties that in the quantum proceedings, the Tribunal vide order dated 22.03.2013 in & 8156/Mum/2011 has deleted the said addition.

3.

In view of the aforesaid fact that the addition itself has been deleted by the Hon’ble Tribunal in the quantum proceedings, the 2 M/s Ganesh Realty P Ltd CIT(A) stands confirmed.

4.

In the result, appeal of the revenue is dismissed. Order pronounced in the open court on 4th November, 2015.

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