MUNIR M. KHAN,MUMBAI vs. DCIT- CC -7(1), MUMBAI
In the result, appeal filed by the assesee is allowed and appeal filed by the revenue is dismissed
ITA 7138/MUM/2018[2009-10]Status: DisposedITAT Mumbai10 Feb 2020AY 2009-10
Bench: Shri Saktijit Dey & Shri G. Manjunathamunir Khan Vs. Dcit, Central Circle-7(1) 654, 6Th Floor 1404, ‘A’ Wing Raj Classic Bldg Aaykar Bhawan Off. Yari Road, Versova M.K.Road Andheri(W) Mumbai-400 020 Mumbai-400 061 Pan/Gir No.Asgpk3313A (Appellant) .. (Respondent) & Dcit, Central Circle-7(1) Vs. Munir Khan 654, 6Th Floor 1404, ‘A’ Wing Aaykar Bhawan Raj Classic Bldg M.K.Road Off. Yari Road, Versova Mumbai-400 020 Andheri(W) Mumbai-400 061 Pan/Gir No.Asgpk3313A (Appellant) .. (Respondent)
Section 132Section 132(4)Section 143(3)Section 260Section 271Section 271(1)(c)Section 271ASection 274
section 271(1)(c) of the I.T.Act, 1961, cannot be invoked, where the additions was made on estimation basis. Hence, we are of the considered view that on this ground also penalty levied by the Ld.
AO u/s 271(1)(c) of the I.T.Act, 1961 cannot be sustained and accordingly, we direct the Ld. AO to delete penalty levied u/s