M/S. Radhakrishna Ramnarain Pvt. Ltd., ... vs Assessee

आयकर अपील य अ धकरण, मुंबई यायपीठ "डी " मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL" D" BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN (AM) AND AMIT SHUKLA, (JM) सव ी बी.आर.बा करन, लेखा सद य एवं अ मत शु ला, या यक सद य के सम

आयकर अपील सं./I.T.A. No.1418/Mum/2011 ( नधारण वष / Assessment Year :2005-06)

M/s Radhakrishna Ramnarain बनाम/ Asstt.Commissioner of Income Pvt.Ltd., Vs. Tax- Central Circle 47, Phoenix Mill Compound, Mumbai.

462, Senapati Bapat Marg, Lower Parel, Mumbai-400013 (अपीलाथ /Appellant) .. ( यथ / Respondent)

थायी ले ख ा सं . /जीआइआर सं . /PAN/GIR No. :AAACR3297H

अपीलाथ ओर से / Assessees by Shri Varun Chaturvedi यथ क ओर से/Revenue by Shri Akhilendra P Yadav

सुनवाई क तार ख / Date of Hearing : 23.3.2015 घोषणा क तार ख /Date of Pronouncement : 23.3.2015

आदे श / O R D E R

PER B.R. BASKARAN (AM)

The appeal of the assessee is directed against the order dated 17- 01-2011 passed by Ld CIT(A)-36, Mumbai and it relates to the assessment year 2005-06. The assessee is aggrieved by the decision of Ld CIT(A) in confirming the penalty of Rs.4,89,874/- u/s 271(1)(c) of the Act in respect of the addition made u/s 69 of the Act.

2. The Ld.Counsel appearing for the assessee submitted that the impugned penalty was levied on the addition made u/s 69 of the Act and the said addition has since been restored to the file of the assessing officer by the Tribunal, vide its order dated 23-03-2011 passed in the quantum 2 I . T . A . N o . 1 4 1 8 / Mu m / 2 0 1 1

assessment proceedings in ITA No. 3155/Mum/2009. The Ld A.R also furnished a copy of the order passed by the Tribunal. Accordingly he prayed that the impugned penalty order does not survive.

3. The Ld D.R agreed with the factual aspects presented by Ld A.R.

4. Having regard to the submissions made by Ld A.R, we are of the view that the impugned penalty order does not have legs to stand on its own, since the addition on which the penalty was levied, has since been restored to the file of the AO by the Tribunal. Accordingly we set aside the orders of tax authorities with the liberty to the AO to decide about the levy of penalty in the set aside proceedings.

5. In the result, the appeal of the assessee is treated as allowed.

The above order was pronounced in the open court on 23rd March, 2015.

घोषणा खल ु े यायालय म दनांकः 23rd March, 2015 को क गई ।

Sd sd (अ मत शु ला / AMIT SHUKLA) (बी.आर.बा करन / B.R. BASKARAN) या यक सद य / JUDICIAL MEMBER लेखा सद य / ACCOUNTANT MEMBER

मुंबई Mumbai: 23rd March,2015.

व. न.स./ SRL , Sr. PS

आदे श क त ल प अ े षत/Copy of the Order forwarded to :

1. अपीलाथ / The Appellant

2. यथ / The Respondent.

3. आयकर आयु त(अपील) / The CIT(A)- concerned

4. आयकर आयु त / CIT concerned

5. वभागीय त न ध, आयकर अपील य अ धकरण, मुंबई / DR, ITAT, Mumbai concerned

6. गाड फाईल / Guard file.

आदे शानुसार/ BY ORDER, True copy सहायक पंजीकार (Asstt. Registrar) आयकर अपील य अ धकरण, मुंबई /ITAT, Mumbai