ACIT, CHENNAI v. M/s. Shriram Chits Tamilnadu Pvt. Ltd., CHENNAI

ITA 1660/CHNY/2011 | 2003-2004
Pronouncement Date: 30-03-2012 | Result: Dismissed

Appeal Details

RSA Number 166021714 RSA 2011
Assessee PAN AABCS0167N
Bench Chennai
Appeal Number ITA 1660/CHNY/2011
Duration Of Justice 5 month(s) 20 day(s)
Appellant ACIT, CHENNAI
Respondent M/s. Shriram Chits Tamilnadu Pvt. Ltd., CHENNAI
Appeal Type Income Tax Appeal
Pronouncement Date 30-03-2012
Appeal Filed By Department
Order Result Dismissed
Bench Allotted D
Tribunal Order Date 30-03-2012
Date Of Final Hearing 15-03-2012
Next Hearing Date 15-03-2012
Assessment Year 2003-2004
Appeal Filed On 10-10-2011
Judgment Text
IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI D BENCH CHENNAI. BEFORE DR. O.K. NARAYANAN VICE-PRESIDENT & SHRI CHALLA NAGENDRA PRASAD JUDICIAL MEMBER I.T.A. NOS. 1660 AND 1661/MDS/2011 ASSESSMENT YEARS: 2003-04 AND 2006-07 THE ASSISTANT COMMISSIONER OF INCOME TAX COMPANY CIRCLE VI (2) AAYAKAR BHAVAN NEW BLOCK 7 TH FLOOR 121 M.G. ROAD CHENNAI 600 034. VS. M/S. SHRIRAM CHITS TAMILNADU PVT. LTD. GREAMS DUGAR 4 TH FLOOR 149 GREAMS ROAD CHENNAI 600 006. [PAN: AABCS0167N] (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI R. SIVARAMAN ADVOCATE REVENUE BY : SHRI ANIRUDH RAI CIT DATE OF HEARING : 15.03.2012 DATE OF PRONOUNCEMENT : 30.03.2012 ORDER PER CHALLA NAGENDRA PRASAD JUDICIAL MEMBER THESE TWO APPEALS OF THE REVENUE ARE DIRECTED AGAIN ST DIFFERENT ORDERS OF THE CIT(A) V CHENNAI BOTH DATED 26.07.20 11 IN ITA NO. 516/2010- 11 FOR THE ASSESSMENT YEAR 2003-04 AND ITA NO. 517/ 2010-11 FOR THE ASSESSMENT YEAR 2006-07. WE ARE DISPOSING OFF BOTH THESE APPEAL BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. SHRI R. S IVARAMAN ADVOCATE I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .1 11 1660 & 1661 660 & 1661 660 & 1661 660 & 1661/M/11 /M/11 /M/11 /M/11 2 REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI ANIR UDH RAI CIT REPRESENTED ON BEHALF OF THE REVENUE. 2. BOTH THE APPEALS OF THE REVENUE ARE AGAINST CAN CELLING PENALTY LEVIED UNDER SECTION 271(1)(C) OF THE ACT BY THE ASSESSING OFFICER. 3. THE ASSESSING OFFICER PASSED PENALTY ORDER UNDE R SECTION 271(1)(C) ON THE ADDITIONS MADE TOWARDS FOREMANS DIVIDEND WH ILE COMPLETING THE ASSESSMENTS FOR THE ASSESSMENT YEARS 2003-04 AND 20 06-07 WHICH ARE UNDER APPEAL. 4. THE CIT(A) DELETED THE PENALTY AND ALLOWED THE APPEALS OF THE ASSESSEE ON THE GROUND THAT ON A SIMILAR ADDITION I N ASSESSEES OWN CASE FOR THE ASSESSMENT YEARS 2000-01 2002-03 AND 2003- 04 THIS TRIBUNAL IN I.T.A. NOS. 2115 TO 2117/MDS/2008 DATED 26.06.2009 DELETED THE PENALTY AND THEREFORE THE CIT(A) FOLLOWED THIS TRIBUNAL OR DER AND DELETED THE PENALTY LEVIED UNDER SECTION 271(1)(C) FOR THE ASSE SSMENT YEARS 2003-04 AND 2006-07 ALSO. 5. AT THE TIME OF HEARING BOTH THE PARTIES HAVE S UBMITTED THAT IN ASSESSEES OWN CASE FOR EARLIER ASSESSMENT YEARS ON AN IDENTICAL ADDITION I.E. FOREMANS COMMISSION THIS TRIBUNAL DELETED THE PENALTY LEVIED UNDER SECTION 271(1)(C) OF THE ACT. I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .1 11 1660 & 1661 660 & 1661 660 & 1661 660 & 1661/M/11 /M/11 /M/11 /M/11 3 6. WE HAVE PERUSED THE ORDERS OF THIS TRIBUNAL IN I.T.A. NOS. 2115 TO 2117/MDS/2008 DATED 26.06.2009 AND FIND THAT THIS T RIBUNAL DELETED THE PENALTY LEVIED UNDER SECTION 271(1)(C) ON AN IDENTI CAL ADDITION IN ASSESSEES OWN CASE FOR THE EARLIER YEARS. RESPECTFULLY FOLLOW ING THIS TRIBUNAL ORDER WE DELETE THE PENALTY LEVIED UNDER SECTION 271(1)(C) F OR THE ASSESSMENT YEARS 2003-04 AND 2006-07 ALSO. 7. IN THE RESULT BOTH THE APPEALS OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 30.03.2012. SD/- SD/- (DR. O.K. NARAYANAN) VICE-PRESIDENT (CHALLA NAGENDRA PRASAD) JUDICIAL MEMBER CHENNAI DATED THE 30.03.2012 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.