M/S BAJRANG CONVEYORS,BILASPUR vs. INCOME TAX OFFICER, 2(1), BILASPUR

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ITA 185/RPR/2017Status: DisposedITAT Raipur30 March 2022AY 2009-1010 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the additions on account of bogus trading liability and suppressed sales were no longer surviving after re-adjudication by the AO, the penalty levied on these additions had to be vacated. The penalty on ad-hoc disallowance of manufacturing expenses was also not sustained as it was based on estimation.

What were the facts?

The assessee's income was enhanced by the AO due to additions for bogus trading liability and suppressed sales. A penalty was levied under Section 271(1)(c). Subsequently, the ITAT restored the quantum additions to the AO for re-adjudication.

What were the issues?

Whether penalty under Section 271(1)(c) can be sustained when the additions forming the basis of penalty are subsequently deleted or not sustained. Whether penalty can be levied on ad-hoc disallowances.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH, RAIPUR

Before: SHRI RAVISH SOOD & SHRI JAMLAPPA D BATTULL

For Appellant: Shri G.S. Agrawal, AR
For Respondent: Shri Shravan kumar Meena, DR
Hearing: 11.03.2022Pronounced: 30.03.2022

आदेश क� ��त�ल�प अ�े�षत / Copy of the Order forwarded to :

1. 1. अपीलाथ� / The Appellant. 2. ��यथ� / The Respondent.

3. The CIT(Appeal), Raipur (C.G) 4. The Pr. CIT, Bilaspur (C.G) 5.�वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण,रायपुरब�च, रायपुर / DR, ITAT, Raipur Bench, Raipur. गाड� फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER,

// True Copy // �नजी स�चव / Private Secretary आयकर अपील�य अ�धकरण, रायपुर / ITAT, Raipur.

10 M/s. Bajrang Conveyors Vs. ITO

Date 1 Draft dictated on 24.03.2022 Sr.PS/PS 2 Draft placed before author 25.03.2022 Sr.PS/PS 3 Draft proposed and placed JM/AM before the second Member 4 Draft discussed/approved by AM/JM second Member 5 Approved draft comes to the Sr.PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr.PS/PS 7 Date of uploading of order Sr.PS/PS 8 File sent to Bench Clerk Sr.PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R 11 Date of dispatch of order

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