ITO, New Delhi v. M/s. Saraswati Trading Company, New Delhi

ITA 5530/DEL/2011 | 2005-2006
Pronouncement Date: 17-02-2012 | Result: Dismissed

Appeal Details

RSA Number 553020114 RSA 2011
Assessee PAN AACFS5533J
Bench Delhi
Appeal Number ITA 5530/DEL/2011
Duration Of Justice 2 month(s) 8 day(s)
Appellant ITO, New Delhi
Respondent M/s. Saraswati Trading Company, New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 17-02-2012
Appeal Filed By Department
Order Result Dismissed
Bench Allotted G
Tribunal Order Date 17-02-2012
Assessment Year 2005-2006
Appeal Filed On 09-12-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : G : NEW DELHI BEFORE SHRI I.P. BANSAL JUDICIAL MEMBER AND SHRI K.D. RANJAN ACCOUNTANT MEMBER ITA NO.5530/DEL/2011 ASSESSMENT YEAR : 2005-06 ITO WARD 28(1) ROOM NO.213 IIND FLOOR DRUM SHAPED BLDG. NEW DELHI. VS. SARASWATI TRADING COMPANY 5585 LAHORI GATE NEW DELHI. PAN : AACFS5533J (APPELLANT) (RESPONDENT) ASSESSEE BY : MS RANO JAIN CA & SHRI V. MOHAN CA REVENUE BY : MRS. ANUSHA KHURANA SR.DR ORDER PER I.P. BANSAL JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE. IT IS DIRECT ED AGAINST THE ORDER PASSED BY THE CIT (A) DATED 26 TH SEPTEMBER 2011 FOR ASSESSMENT YEAR 2005-06. THE GROUNDS OF APPEAL READ AS U NDER:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE LEARNED C IT (A)- XXV NEW DELHI ERRED IN CANCELING THE PENALTY ORDER U /S 271(1)(C) OF THE IT ACT. 2. THAT THE APPELLANT CRAVES LEAVE FOR RESERVING THE RI GHT TO AMEND MODIFY ALTER ADD OR FOREGO ANY GROUND (S) O F APPEAL AT ANY TIME BEFORE OR DURING THE HEARING OF THIS APPEAL. 2. LEARNED CIT (A) HAS DELETED THE PENALTY ON THE GR OUND THAT THE ADDITION OF ` 1 57 75 972/- MADE U/S 69 BY THE ASSESSING OFFICER HAS BEEN DELETED BY THE ITAT VIDE ITS ORDER DATED 18 TH FEBRUARY 2011 IN ITA NO.5530/DEL/2011 2 ITA NO.3091/DEL/2008 ON WHICH IMPUGNED CONCEALMENT PENALTY OF ` 57 66 357/- WAS IMPOSED. SINCE THE ADDITION ITSELF HA S BEEN DELETED THE PENALTY WAS NOT SUSTAINABLE IN VIEW OF THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF K.C. BUILDERS VS. ACIT 26 5 ITR 562 (SC). 3. THE AFOREMENTIONED ORDER OF THE TRIBUNAL IN QUAN TUM PROCEEDINGS HAS BEEN PLACED ON OUR RECORD. IN THIS VI EW OF THE SITUATION AFTER HEARING BOTH THE PARTIES WE FIND NO INFIRMITY IN THE ORDER OF THE CIT (A) VIDE WHICH THE IMPUGNED PENALT Y HAS BEEN DELETED. WE DECLINE TO INTERFERE. THE APPEAL FILE D BY THE REVENUE IS DISMISSED. 4. IN THE RESULT THE APPEAL IS DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 17.02.20 12. SD/- SD/- [K.D. RANJAN] [I.P. BANSAL] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 17.02.2012. DK COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ITAT TRUE COPY BY ORDER DEPUTY REGISTRAR ITAT DELHI BENCHES