Income Tax Appellate Tribunal - Ahmedabad
M/S. Kayrpee Vanijya Pvt. Ltd.,, Baroda vs The Acit, 1(2),, Vadodara on 8 September, 2017
आयकर अपील य अ धकरण, अहमदाबाद यायपीठ 'बी', अहमदाबाद ।
IN THE INCOME TAX APPELLATE TRIBUNAL " B " BENCH, AHMEDABAD सव ी द प कुमार के डया, लेखा सद य एवं महावीर साद, या यक सद य के सम । BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER आयकर अपील सं./I.T.A. No.1822/Ahd/2015 ( नधा रण वष / Assessment Year : 2002-03) M/s.Kayrpee Vanijya बनाम/ Asst.CIT Pvt.Ltd. Vs. Circle-1(2) Synergy House II Vadodara Gorwa Subhanpura Road Baroda - 390 016 थायी ले खा सं . /जीआइआर सं . / PAN/GIR No. : AAACK 8161 H (अपीलाथ& /Appellant) .. ( 'यथ& / Respondent) अपीलाथ& ओर से /Appellant by : Written submission 'यथ& क) ओर से/Respondent by : Shri Dinesh Singh, Sr.DR ु वाई क) तार ख / सन Date of Hearing 06/09/2017 घोषणा क) तार ख /Date of Pronounce ment 08/ 09 /2017 आदे श / O R D E R PER PRADIP KUMAR KEDIA - AM:
The captioned appeal by the Assessee is directed against the order of the Commissioner of Income Tax(Appeals)-1, Vadodara [CIT(A) in short] dated 28/04/2015 for the Assessment Year (AY) 2002-03.ITA No.1822/Ahd/2015
M/s. Kayrpee Vanijya Pvt.Ltd. vs. ACIT Asst.Year - 2002-03 -2-
2. In the captioned appeal, the assessee is aggrieved by the order of the CIT(A) whereby the penalty under s.271(1)(c) of the Income Tax Act, 1961 (hereinafter referred to as "the Act") amounting to Rs.3,52,550/- by the Assessing Officer (AO) was confirmed by the CIT(A).
3. Assessee filed a written submission dated 5th September-2017 and submitted that quantum additions/disallowances giving rise to penalty under s.271(1)(c) of the Act has been deleted by the ITAT in quantum proceedings in ITA No.1855/Ahd/2012 order dated 27/07/2016. In the light of submissions made, we find that the addition/disallowance made in the quantum assessment giving rise to the imposition of penalty in appeal has been reversed by the Tribunal. Thus in view of the fact that the quantum addition/disallowance itself has been deleted, the very basis for imposition of penalty under s.271(1)(c) of the Act ceases to exist and does not survive any more.
4. In the result, the appeal of the Assessee is allowed.
This Order pronounced in Open Court on 08/ 09 /2017
Sd/- Sd/-
(महावीर साद) ( द प कुमार के डया)
या यक सद य ले खा सद य
( MAHAVIR PRASAD ) ( PRADIP KUMAR KEDIA )
JUDICIAL MEMBER ACCOUNTANT MEMBER
Ahmedabad; Dated 08/ 09 /2017
ट .सी.नायर, व. न.स./T.C. NAIR, Sr. PS