Income Tax Appellate Tribunal - Mumbai
Daimler Chrysler Ag, Mumbai vs Department Of Income Tax on 6 December, 2012
ITA No.7589 of 2010 Daimler Chrysler AG Mumbai
IN THE INCOME TAX APPELLATE TRIBUNAL
"L" Bench, Mumbai
Before Shri B. Ramakotaiah, Accountant Member
and Shri Vijay Pal Rao, Judicial Member
ITA No.7589/Mum/2010
(Assessment year: 2003-04)
Dy. Director of Income Tax Vs. Daimler Chrysler AG,
(International Taxation), 119 C/o S.R. Batliboi & Co. CAS,
Scindia House, Ballard Pier, 18th Floor, Express Towers,
Mumbai 400038 Nariman Point,
Mumbai 400021
PAN: AABCD 2354C
(Appellant) (Respondent)
Department by: Ms. Neeraja Pradhan, DR
Assessee by: Shri Saral Barlota
Date of Hearing: 06/12/2012
Date of Pronouncement: 14/12/2012
ORDER
Per B. Ramakotaiah, A.M.
This is a Revenue appeal against the order of the CIT (A)-10 Mumbai, dated 11-08-2010. Assessee was incorporated in Germany and is in the business of manufacturing and selling automobile and its parts. It has filed return of income declaring income at `50,319,070, which was assessed at `57,640,231 vide the order under section 143(3) dated 03-03-2006. AO levied penalty on the additions made in the assessment order. The ITAT has deleted the quantum and therefore, question of levey of penalty under section 271(1)(c) for concealment of income or furnishing of inaccurate particulars of income does not arise. The CIT (A) cancelled the penalty on the above reasons as the disallowance itself is deleted.
2. Both the Counsels agreed that the Revenue appeal cannot survive as the quantum itself on which the penalty was levied was Page 1 of 2 ITA No.7589 of 2010 Daimler Chrysler AG Mumbai deleted by the ITAT. Accordingly we uphold the order of the CIT (A) and dismiss the Revenue appeal.
3. In the result the appeal filed by the Revenue is dismissed.
Order pronounced in the open court on 14th December, 2012.
Sd/- Sd/-
(Vijay Pal Rao) (B. Ramakotaiah)
Judicial Member Accountant Member
Mumbai, dated 14th December, 2012.
Vnodan/sps Copy to:
1. The Appellant
2. The Respondent
3. The concerned CIT(A)
4. The concerned CIT
5. The DR, "L " Bench, ITAT, Mumbai By Order Assistant Registrar Income Tax Appellate Tribunal, Mumbai Benches, MUMBAI Page 2 of 2