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ACIT - 18 (1) Shri Manmohan Rathi 1st Floor, Piramal Chambers 8, Cama Indl. Estae Lalbaug, Mumbai 400012 Vs.
September, 13th 2012
                            "B" Bench, Mumbai

                  Before Shri D. Manmohan, Vice President
                   and Shri Rajendra, Accountant Member

                         ITA No. 6899/Mum/2011
                         (Assessment Year: 2006-07)

A C I T - 18 (1)                         Shri Manmohan Rathi
1st Floor, Piramal Chambers          Vs. 8, Cama Indl. Estae
Lalbaug, Mumbai 400012                   Sun Mill Compound
                                         Lower Parel, Mumbai 400013
                                         PAN - AABPR 0943 E
            Appellant                              Respondent

                    Appellant by:    Shri Mohit Jain
                    Respondent by:   Shri Sumeet Dalal

                    Date of Hearing:       11.09.2012
                    Date of Pronouncement: 11.09.2012


Per D. Manmohan, V.P.

     This appeal filed at the instance of the Revenue is directed against the

order dated 02.08.2009 passed by the CIT(A) 29, Mumbai and it pertains to

A.Y. 2006-07..

2.    Penalty under section 271(1)(c) of the I.T. Act levied by the AO but

cancelled by the CIT(A) is the subject matter of dispute before us.

3.    At the time of hearing both the parties admitted that the addition

made in the assessment order, which was the basis for levy of penalty, no

longer subsists in the light of the decision of the ITAT "I" Bench Mumbai in

the quantum proceeding, i.e. ITA No. 3105/Mum/2009 dated 29th July,

2010. In the light of the decision of the ITAT in the quantum proceedings the

learned CIT(A) cancelled the penalty levied by the AO.
                                         2                 ITA No. 6899/Mum/2011
                                                              Shri Manmohan Rathi

4.        Having regard to the circumstances, we do not find any infirmity in
the order passed by the learned CIT(A). As pronounced in the open court the
appeal filed by the Revenue is dismissed.

Order pronounced in the open court on 11th September 2012.

                  Sd/-                                     Sd/-
               (Rajendra)                             (D. Manmohan)
           Accountant Member                          Vice President

Mumbai, Dated: 11th September 2012

Copy to:

     1.   The   Appellant
     2.   The   Respondent
     3.   The   CIT(A) ­ 29, Mumbai
     4.   The   CIT­ 18, Mumbai City
     5.   The   DR, "B" Bench, ITAT, Mumbai

                                                        By Order

//True Copy//
                                                     Assistant Registrar
                                             ITAT, Mumbai Benches, Mumbai
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