TMI Blog2019 (5) TMI 1497X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Revenue : Shri S.K. Mitra ORDER PER AMARJIT SINGH, JM: The assessee has filed the present appeal against the order dated 27.11.2012 passed by the Commissioner of Income Tax (Appeals)-36, Mumbai [hereinafter referred to as the CIT(A) ] relevant to the A.Y. 2009-10 wherein the penalty levied by the AO has been order to be confirmed. 2. The assessee has raised the following grounds: - 1. The Learned Commissioner of Income-tax (Appeals) - 47, Mumbai CIT (Appeals) erred in law and on facts in not adjudicating upon the following Ground No. 2 to 5 of the appeal preferred by the appellant before him: 2. Your appellant submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rticulars of income by reducing the taxable income by ₹ 18,41,901/-. Your Appellant craves leave to add, to amend. to alter, to substitute, to modify and or to withdraw any or all of the foregoing grounds of appeal herein and to submit such statements, documents and papers as may be considered necessary on or before the time of hearing Relief: Your appellant therefore respectfully prays to direct the Assessing Officer to: a) Delete the penalty levied under section 271(1)(C) of the Act amounting to ₹ 5,69,147/-. b) Grant other relief deemed necessary. 3. The brief facts of the case are that the assessee filed its return of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 271(1)(c) of the Act was initiated and the AO levied the penalty in sum of ₹ 5,69,147/-. Feeling aggrieved, the assessee filed an appeal before the CIT(A) who confirmed the penalty, therefore, the assessee has filed the present appeal before us. 4. We have heard the argument advanced by the Ld. Representative of the parties and perused the record. At the very outset, the Ld. Representative of the assessee has argued that the quantum proceeding has been set aside by the Hon ble ITAT in the assessee s own case for the A.Y.2009-10 in ITA. Nos.731 732/M/2013 and the issue has been remanded before the AO, therefore, in the said circumstances, the penalty is not liable in sustainable in the eyes of law. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt point of time the director of the assessee-company was in judicial custody of the Enforcement Directorate and hence information could not be supplied. Learned counsel requested for one more opportunity to the assessee to enable the assessee-company to furnish required details. 8. Learned Departmental Representative has not raised any serious objection with regard to the request of the assessee s counsel i.e., to enable the assessee to furnish proper evidence before the Assessing Officer at this stage. 9. Having regard to the submissions of the respective parties, we are of the opinion that the assessee has bonafide reasons for not furnishing complete details before the tax authorities. Therefore in the i ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
