Hellion Finance & Leasing P. Ltd, Mumbai vs. ITO 9(2)(1), Mumbai
ITA 3814/MUM/2017[2010-11]Status: DisposedITAT Mumbai30 Jul 2019AY 2010-11
Bench: Shri Ramit Kochar & Shri Ravish Soodआयकर अपीऱ सं./I.T.A. No.3814/Mum/2017 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Hellion Finance & Leasing Ito 12(2)(4) Private Ltd., Aayakar Bhavan, 201/B, Paresh Apartment, Mumbai V. Mandapeshar Road, Borivali (W), Mumbai- 400092 स्थायी ऱेखा सं./ Pan: Aaach8539E (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: None Revenue By: Shri. Manoj Kumar Singh (Dr) सुनवाई की तारीख /Date Of Hearing : 13.05.2019 घोषणा की तारीख /Date Of Pronouncement : 30.07.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 3814/Mum/2017, Is Directed Against Appellate Order Dated 09.03.2017, In Appeal No. Cit(A)-20/Ito-12(2)(4)/It-248/2014-15, Passed By Learned Commissioner Of Income Tax (Appeals)-20, Mumbai (Hereinafter Called ―The Cit(A)‖), For Assessment Year(Ay) 2010-11, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Penalty Order Dated 26.03.2014 Passed By Learned Assessing Officer (Hereinafter Called ―The Ao‖) U/S 271(1)(C) Read With Section 274 Of The Income-Tax Act, 1961 (Hereinafter Called ―The Act‖) For Ay 2010-11. I.T.A. No.3814/Mum/2017
For Appellant: NoneFor Respondent: Shri. Manoj Kumar Singh (DR)
Section 271(1)(c)Section 274
…l liability for loss of revenue without proof of any false/bogus/fictitious claim of deductions or allowances or filing of inaccurate particulars for concealment of income by the assessee. 3. The learned CIT (A) erred in relying on CIT v. Escorts Finance Ltd (328 ITR 44) wherein the penalty was justified on the basis of claim of the company which was ex facie bogus whereas the facts of the assessee's case the claim was not established or proved as ex facie bogus or proved false but were based on Legally sound case of the company in support of its claim. 4. On facts in circumstances of the case and in law the CIT…
