Income Tax Appellate Tribunal - Mumbai
Tata Motors Ltd ( Formerly Known As Tata ... vs Jcit (Osd) 2 (1), Mumbai on 17 January, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCHES "H", MUMBAI
Before S/Shri Amit Shukla, JM & Ashwani Taneja, AM
ITA No.6527/Mum/2009
Assessment Year:1998-99
Tata Motors Ltd. (formerly Joint CIT (OSD) 2(1),
known as Tata Engineering & Mumbai
Locomotive Company Ltd.) Vs.
Bombay House, 24, Homi
Mody Street, Hutatma Chowk
Mumbai- 400 001.
PAN AAACT2727Q
(Appellant) (Respondent)
Appellant By : Shri Dinesh Vyas, AR
Respondent By :Shri M. C. Omi Nigshen
Date of Hearing :17.01.2017 Date of Pronouncement :17.01.2017
ORDER
Per Amit Shukla, Judicial Member
The aforesaid appeal has been filed by the assessee against impugned order dated 14.10.2009, passed by Ld. CIT(Appeals)-6, Mumbai in relation to the penalty proceedings u/s. 271(1)(c) for the A.Y. 1998-99.
2. The assessee is mainly aggrieved by levy of penalty on amount of disallowance of depreciation of Rs.5,99,304/- on the assets given on lease to the Andhra Pradesh State Electricity Board. Before us, the learned senior counsel, Shri Dinesh Vyas, submitted that in the 2 ITA No.6527/Mum/2009 M/s. Tata Motors Ltd.
quantum proceedings, this Tribunal in ITA No. 7148/Mum/04 vide order dated 06.01.2017 has deleted the said disallowance of depreciation of leased assets. From the said order he pointed out that this issuehas been elaborately discussed by the Tribunal while deciding the appeal for A.Y. 1997-98, vide para 5 to 5.3, which has been followed in A.Y. 1998-99. Whence the addition itself stands deleted the levy of penalty u/s. 271(1)(c) has no legs to stand.
3. The learned DR also admitted that in quantum appeal this issue stands decided in favour of the assessee.
4. After considering the aforesaid submissions and on perusal of the Tribunal order in the assessee's own case in the quantum proceedings, we find that the issue of disallowance of depreciation of leased assets has been decided in favour of the assessee and depreciation has been allowed. Accordingly, the penalty levied on said addition/disallowance stands deleted.
5. In the result, the appeal of the assessee is allowed. Order pronounced in the open court on this17thday of January 2017 Sd/- Sd/-
(Ashwani Taneja) (Amit Shukla) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai; Dated: 19th January, 2017. SA 3 ITA No.6527/Mum/2009 M/s. Tata Motors Ltd. Copy of the Order forwarded to : 1. The Appellant. 2. The Respondent. 3. The CIT(A), Mumbai. 4. The CIT 5. DR, 'H' Bench, ITAT, Mumbai BY ORDER, //True Copy// (AssistantRegistrar)
Income Tax Appellate Tribunal, Mumbai