Income Tax Appellate Tribunal - Delhi
M/S. Iris Infraventures Pvt. Ltd., ... vs Dcit, New Delhi on 29 May, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCHES : "C" : NEW DELHI
BEFORE SHRI R.S. SYAL, VICE PRESIDENT
AND
SMT. BEENA A. PILLAI, JUDICIAL MEMBER
ITA No.4351/Del/2016
Assessment Year : 2013-14
Iris Infraventures Pvt. Ltd., Vs. DCIT,
95, Apna Ghar Society, Central Circle-31,
Pitampura, New Delhi.
Delhi.
PAN: AACCI2186A
(Appellant) (Respondent)
Assessee By : Shri Rajat Jain & Shri Akshat Jain, CAs
Department By : Shri Arun Kumar Yadav, Sr. DR
Date of Hearing : 28.05.2018
Date of Pronouncement : 29.05.2018
ORDER
PER R.S. SYAL, VP:
This appeal filed by the assessee arises out of the order passed by the CIT(A) on 13.05.2016 confirming the penalty of Rs.10,000/- imposed by the Assessing Officer u/s 271(1)(b) of the Income-tax Act, 1961 in relation to the assessment year 2013-14.ITA No.4351/Del/2016
2. Briefly stated, the facts of the case are that the Assessing Officer issued notice u/s 142(1) fixing the date of hearing on 24.09.2015. On the said date, the assessee did not appear. The AO imposed penalty u/s 271(1)(b) of the Act for a sum of Rs.10,000/- on account of such default, which occurred due to non-appearance of the assessee. The ld. CIT(A) confirmed the penalty, against which the assessee has come up in appeal before the Tribunal.
3. We have heard the rival submissions and perused the relevant material on record. It is observed that though the assessee admittedly did not appear before the Assessing Officer on 24.09.2015, but the assessment got completed u/s 143(3) of the Act on 30.12.2015, with the participation of the assessee, at the declared income of Rs.18.74 lac. In view of the fact that the assessee did participate in the assessment proceedings which resulted into the completion of assessment u/s 143(3), we are satisfied that no penalty u/s 271(1)(b) of the Act is called for when the assessee explained the reason before us for its failure to appear before the AO on 24.09.2015. We are satisfied with such reasons. We, therefore, order for the deletion of the penalty.
2 ITA No.4351/Del/2016
4. In the result, the appeal filed by the assessee is allowed.
The order pronounced in the open court on 29th May, 2018.
Sd/- Sd/-
[BEENA A. PILLAI] [R.S. SYAL]
JUDICIAL MEMBER VICE PRESIDENT
Dated, 29th May, 2018.
dk
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT (A)
5. DR, ITAT
AR, ITAT, NEW DELHI.
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