Shri Hiren Nandubhai Amin, Ahmedabad V. The Income Tax Officer, Ward-6(5), Ahmedabad

CO 142/AHD/2014

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 2599 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 5 month(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 14-12-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 09-12-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 14-07-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

ITA NO. 1250 AND CO 142/ AHD/201 4 ASSESSMENT YEAR: 200 6 - 07 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM AND S S GODARA JM] ITA NO. 1250 /AHD/201 4 ASSESSMENT YEAR : 20 0 6 - 07 INCOME TAX OFFICER , WARD 6(5), AHMEDABAD . .... . .... ..... .. ..... APPELLANT VS. HIR EN NANDUBHAI AMIN, ........ ........... RESPONDENT B - 7, SARVODAYA NAGAR SOCIETY, PART - I, SOLA ROAD, AHMEDABAD [A DYPA 6004 H ] C.O. NO.142/AHD/2014 ( IN ITA NO.1250 /AHD/201 4 ) ASSESSMENT YEAR: 20 06 - 07 HIREN NANDUBHAI AMIN, .... ........ ........ ... APPELLANT B - 7, SARVODAYA NAGAR SOCIETY, PART - I, SOLA ROAD, AHMEDABAD [A DYPA 6004 H ] VS. INCOME TAX OFFICER, WARD 6(5), AHMEDABAD. .. .. . .... ..... .. ..... RESPONDENT APPEARANCES BY JAMES KURIAN FOR THE REVENUE NONE FOR THE ASSESSEE HEARING CONCLUDED ON: 08.12. 20 16 ORDER PRONOUNCED ON : 14 .12.2016 O R D E R PER PRAMOD KUMAR , AM: ITA NO. 1250 AND CO 142/ AHD/201 4 ASSESSMENT YEAR: 200 6 - 07 PAGE 2 OF 3 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 21.02.2014 , PASSED BY THE L EARNED CIT(A), F OR THE ASSESSMENT YEAR 20 0 6 - 07 , ON THE FOLLOWING GROUND S : - 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE PENALTY OF RS.3,12,644/ - IMPOSED U/S 271(1)(C) OF THE I.T. ACT. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE , THE LD. COMMISSIO NER OF INCOME TAX (A) OUGHT TO HAVE UPHELD THE OR D ER OF THE A S SESSING OFFICER. 3. IT IS THEREFORE, PRAYED THAT THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (A) MAY BE SET - ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED. 2. WE HAVE NOTICED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/ - . IN VIEW OF THIS UNDISPUTED FACT AND IN THE LIGHT OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE ARE OF THE CONSIDERED VIEW THAT THIS APPEAL IS LIABLE TO BE DISMISSED AS WITHDRA WN FOR THE SIMPLE REASON THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 3 . IN THE RESULT, APPEAL IS DISMISSED . 4. IN THE CROSS OBJECTION, THE ASSESSEE HAS RAISED THE FOLLOWING GRIEVANCE: - 1. THAT THE LD. CIT(A) - XI HAS DELETED THE PENALTY LEVIED BY LEARNED A.O. U/S.271(1)(C) OF RS.3,12,644/ - CONSIDERING THE TOTAL FACTS AND CIRCUMSTANCES OF THE CASE OF THE CROSS OBJECTOR AND HENCE APPEAL OF THE REVENUE BE DISMISSED. 2. THAT THE PENALTY PROCEEDINGS AND ASSESSMENT PROCEEDINGS ARE SE PARATE AND THE CROSS OBJECTOR HAVE FILED DOCUMENTARY EVIDENCES IN SUPPORT OF INVESTMENT MADE FOR SHARE APPLICATION MONEY OF G.S.P.L. AND CONSIDERING THE SAME PENALTY LEVIED BY LEARNED A.O. DELETED BY LEARNED C I T(A ) AND AS SUCH APPEAL OF THE DEPARTMENT BE D ISMISSED. 3. THE EXPLANTING OFFERED BY THE CROSS OBJECTOR IN QUANTUM APPEAL FOR INVESTMENT IN SHARES OF G.S.P.L. HAVE BEEN ACCEPTED BY T HE THEN LEARNED CIT(A) - XI VIDE HIS ORDER DATED 28.02.11, AND THEREFORE APPEAL FILED BY THE DEPARTMENT BE DISMISSED. ITA NO. 1250 AND CO 142/ AHD/201 4 ASSESSMENT YEAR: 200 6 - 07 PAGE 3 OF 3 5. AS THE APPEAL ITSELF IS HELD TO BE NON - MAINTAINABLE, THE VERY FOUNDATION OF CROSS OBJECTION CEASES TO HOLD GOOD IN LAW. THE CROSS OBJECTION IS, THEREFORE, ALSO DISMISSED. 6. IN THE RESULT, APPEAL FILED BY THE REVENUE AND CROSS OBJECTION FILED BY THE ASSESSEE, BOTH ARE DISMISSED. PRONOUNCED IN THE OPEN COUR T TODAY ON THE 14 TH DAY OF DECEMBER , 2016. SD/ - SD/ - S S GODARA PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) DATED: 14 TH DECEMBER, 2016 . COPIES TO : (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD