IGLOO DAIRY SERVICES P. LTD ( FORMERLY NOWN AS R.B. CHEMICALS & AGRO INDUSTRIES (P) LTD), MUMBAI v. DCIT 3(3), MUMBAI

ITA 2069/MUM/2010 | 2004-2005
Pronouncement Date: 19-01-2011 | Result: Allowed

Appeal Details

RSA Number 206919914 RSA 2010
Assessee PAN AAACR5175Q
Bench Mumbai
Appeal Number ITA 2069/MUM/2010
Duration Of Justice 10 month(s) 4 day(s)
Appellant IGLOO DAIRY SERVICES P. LTD ( FORMERLY NOWN AS R.B. CHEMICALS & AGRO INDUSTRIES (P) LTD), MUMBAI
Respondent DCIT 3(3), MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 19-01-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 19-01-2011
Assessment Year 2004-2005
Appeal Filed On 15-03-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A MUMBAI BEFORE SHRI R.S. SYAL (AM) & SHRI R.S. PADVEKAR (JM ) I.T.A.NO.2069/MUM/2010 (A.Y. 2004-05) ) M/S. IGLOO DAIRY SERVICES P.LTD. (FORMERLY KNOWN AS R.B .CHEMICALS & AGRO INDUSTRIESP.LTD.) 703 DALAMAL HOUSE 206 NARIMAN POINT MUMBAI-21. PAN: AAACR5175Q VS. DY.COMMR. OF INCOME-TAX-3(3) AAYKAR BHAVAN M.K. ROAD MUMBAI-400 020. APPELLANT RESPONDENT APPELLANT BY NONE. RESPONDENT BY SHRI R .S. SRIVASTAVA. O R D E R PER R.S. SYAL AM : THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDE R PASSED BY THE CIT(A) ON 19-01-2010 AGAINST THE UPHOLDING OF PENALTY AMOU NTING TO RS.2 89 308/- IMPOSED BY THE AO U/S.271(1)(C) OF THE ACT. 2. BRIEFLY STATED FACTS OF THE CASE ARE THAT THE AS SESSEE CLAIMED DEDUCTION U/S.80IB(11) WHICH WAS REDUCED IN THE COURSE OF A SSESSMENT PROCEEDINGS BY A SUM OF S.7 85 332/- OUT OF TOTAL CLAIM OF RS.87 63 383/-. THEREAFTER PENALTY WAS IMPOSED WHICH CAME TO BE UPHELD IN THE FIRST APPEAL . 3. THERE IS NO APPEARANCE FROM THE SIDE OF THE ASSE SSEE DESPITE NOTICE. AFTER HEARING THE SUBMISSIONS OF THE LD. D.R. AND PERUSIN G THE RELEVANT MATERIAL ON RECORD IT IS NOTICED THAT THE ASSESSEE CLAIMED DED UCTION U/S.80IB(11) WHICH WAS NOT FOUND TO BE PARTLY ALLOWABLE IN ASSESSMENT PROC EEDINGS. HERE IS A CASE IN WHICH A CLAIM WAS MADE DISCLOSING ALL THE NECESSAR Y FACTS WHICH WAS FOUND TO BE NOT FULLY SUSTAINABLE IN LAW AND THE PENALTY CAM E TO BE IMPOSED AND UPHELD ON REDUCTION OF SUCH CLAIM. THE HONBLE SUPREME COURT IN THE CASE OF CIT VS. RELIANCE PETROPRODUCTS PVT. LTD. (2010) 322 ITR 158 (SC) HAS HELD THAT PENALTY ITA NO.2069/M/10 2 CANNOT BE IMPOSED U/S.271(1)(C) WHEN THE ASSESSEE M AKES A CLAIM FURNISHING ALL THE PARTICULARS IN THE RETURN WHICH IS FOUND TO BE NOT SUSTAINABLE IN LAW. THE FACTS OF THE INSTANT CASE ARE FULLY GOVERNED BY THE RATIO OF THE ABOVE NOTED SUPREME COURT JUDGMENT. RESPECTFULLY FOLLOWING THE SAME WE SET ASIDE THE IMPUGNED ORDER AND ORDER FOR THE DELETION OF PENALTY. 4. IN THE RESULT THE APPEAL IS ALLOWED. ORDER PRONOUNCED ON THE 19TH DAY OF JANUARY 2011. SD/- SD/- (R.S. PADVEKAR) (R.S. SYAL) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI:19TH JANUARY 2011. NG: COPY TO : 1..ASSESSEE. 2. DEPARTMENT. 3 CIT(A)-7 MUMBAI. 4 CIT CITY-3 MUMBAI. 5.DR A BENCH MUMBAI. 6.MASTER FILE. (TRUE COPY) BY ORDER ASST.REGISTRAR ITAT MUMBAI. ITA NO.2069/M/10 3 DETAILS DATE INITIALS DESIGNA TION 1. DRAFT DICTATED ON 13-1-2011 SR.PS/ 2. DRAFT PLACED BEFORE AUTHOR 17-1-2011 SR.PS/ 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/ AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS/ 6. KEPT FOR PRONOUNCEMENT ON SR.PS/ 7. FILE SENT TO THE BENCH CLERK SR.PS/ 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 9. DATE ON WHICH FILE GOES TO THE AR 10. DATE OF DISPATCH OF ORDER *