Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
After considering the rival submissions we find that additions on which penalty has been levied u/s.271(1)© have been restored to the file of the AO by the Tribunal in I.T.A.No.6065/Mum/07 [copy of order filed on record]. Therefore, we are of the view that penalty proceedings need to be set aside to the file of the AO. Accordingly, we set aside the order of the ld. CIT(A) and remit the matter back to the AO with a direction to consider the penal provisions after completion of the assessment.
Citation :
M/s. Synergy Log-In-Systems Ltd.,Now called Globseyn Infotech Ltd.,No. 401/402, Samarth Vaibhav,Lokhandwala Complex, Off Link Road, Andheri West,Mumbai 400 053.PAN: AABCS 9108 H (Appellant) Vs. Dy. Commissioner of I.T., Circle 7(1),Mumbai. (Respondent)
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCH ‘E’ MUMBAI
BEFORE SHRI B.R.MITTAL, JUDICIALMEMBER &
SHRI T.R.SOOD, ACCOUNTANT MEMBER
I.T.A.NO.2591/Mum/2011 – A.Y 2003-04
M/s. Synergy Log-In-Systems Ltd.,
Now called Globseyn Infotech Ltd.,
No. 401/402, Samarth Vaibhav,
Lokhandwala Complex, Off Link
Road, Andheri West,
Mumbai 400 053.
PAN: AABCS 9108 H
(Appellant)
Vs.
Dy. Commissioner of I.T., Circle 7(1),
Mumbai.
(Respondent)
Appellant by: Ms. Vidya Bangera.
Respondent by: Mr. P.C. Maurya.
Date of Hearing: 01-02-2012
Date of Pronouncement: 01-02-2012
O R D E R
Per T.R.SOOD, AM:
In this appeal various grounds have been taken but the only dispute involved is regarding confirmation of penalty u/s.271(1)©.
2. Both the parties were heard.
3. After considering the rival submissions we find that additions on which penalty has been levied u/s.271(1)© have been restored to the file of the AO by the Tribunal in I.T.A.No.6065/Mum/07 [copy of order filed on record]. Therefore, we are of the view that penalty proceedings need to be set aside to the file of the AO. Accordingly, we set aside the order of the ld. CIT(A) and remit the matter back to the AO with a direction to consider the penal provisions after completion of the assessment.
4. In the result, assessee’s appeal is allowed for statistical purposes.
Order pronounced in the open Court on this day of 1/2/2012.
Sd/- Sd/-
(B.R.MITTAL) (T.R.SOOD)
Judicial Member Accountant Member
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