VRINDAVAN TUBES LTD.,MEERUT vs. ACIT, CIRCLE-26(2), NEW DELHI
In the result, the appeal filed by the assessee is allowed
ITA 5425/DEL/2019[2015-16]Status: DisposedITAT Delhi31 Aug 2022AY 2015-16
Bench: Shri C.M. Garg & Shri Pradip Kumar Kediaassessment Year: 2015-16 Vrindavan Tubes Ltd., Vs. Acit, C/O Kashyap & Co., Circle-26(2), 114, Citi Centre, New Delhi. B.B. Road, Meerut. Pan: Aaccv2294C (Appellant) (Respondent) Assessee By : Shri P.S. Kashyap, Fca Revenue By : Shri Anil Kumar Sharma, Sr. Dr Date Of Hearing : 24.08.2022 Date Of Pronouncement : 31.08.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 09.04.2019 Of The Cit(A)-9, New Delhi, Relating To Assessment Year 2015-16. 2. The Grounds Of Appeal Raised By The Assessee Read As Under:- “1. That On Facts & In Law Notice U/S 274 R.W.S 271(1)( C) Of The Act Is Not Maintainable. Ld. Ao Has Given Notice Without Specifying Whether There Is Concealment Of Income Or Assessee Has Furnished Inaccurate Particulars Of Income. The Notice U/S 274 R.W.S 271(1)(C) Is Void Ab Initio. 2. That On Facts & In Law Imposing The Penalty Under Section 271(1)(C ) For Rs. 77,47,664/- Is Totally Wrong, Unjustified & Illegal. The Appellant Had Never Furnished Any Inaccurate Particulars Or Concealed Income At Any Stage Of Assessment Proceedings As Well As In Penalty Proceedings. The Penalty Imposed U/S 271(1)(C) Ought To Be Deleted In Full.”
For Appellant: Shri P.S. Kashyap, FCAFor Respondent: Shri Anil Kumar Sharma, Sr. DR
Section 143(2)Section 143(3)Section 271(1)Section 271(1)(c)Section 274Section 43B
section 271(1)(c ) for Rs. 77,47,664/- is totally wrong, unjustified and illegal.
The appellant had never furnished any inaccurate particulars or concealed income at any stage of assessment proceedings as well as in penalty proceedings. The penalty imposed U/s 271(1)(c) ought to be deleted in full.”
3. Facts of the case, in brief, are that
