Swastik Ingot Private Limited, Rourkela V. DCIT, Rourkela

ITA 104/CTK/2015

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 7172 (ITAT-CUTTACK)
• Duration Of Justice: 2 year(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 22-03-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 16-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K PRADHAN
• Assessee Lawyers: K K BAJORIA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK SMC BENCH, CUTTACK BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER ITA NO. 104/CTK/2015 ASSESSMENT YEAR : 2008 - 09 SWASTIK INGOT PRIVATE LIMITED, AT: GOPAPALI, VEDVYAS, ROURKELA. VS. DCIT, ROURKELA. PAN/GIR NO. AAICS 4214 K (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : SHRI K.K.BAJORIA, AR REVENUE BY : SHRI D.K.PRADHAN , DR DATE OF HEARING : 22 /03 / 2017 DATE OF PRONOUNCEMENT : 22 /03 / 2017 O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) - 1, BHUBANESWAR, DATED 23.12.2014 FOR THE ASSESSMENT YEAR 2008 - 09 . 2. THE SOLE ISSUE INVOLVED IN THIS APPEAL IS THAT THE LD CIT(A) ERRED IN CONFIRMING THE LEVY OF PENALTY OF RS.6,44,930/ - U/S.271(1)(C) OF THE ACT. 3. AT THE OUTSET, LD AUTHORISED REPRESENTATIVE OF THE ASSESSEE ARGUED AND SUBMITTED THAT THE ASSESSING OFFICER IN THE PENALTY ORDER WHILE LEVYING PENALTY HAS OBSERVED THAT THE ASSESSEE HAS CONCEA LED PARTICULARS OF INCOME AS WELL AS FURNISHED INACCURATE PARTICULARS OF INCOME. ACCORDING TO THE 2 ITA NO. 104/CTK/2015 ASSESSMENT YEAR : 2008 - 09 DECISION OF THE HONBLE SUPREME COURT IN THE CASE OF CIT VS. SSAS. EMARLD MEADOWS DATED 11 TH JANUARY, 2017 PASSED IN SPECIAL LEAVE TO APPEAL (CC NO.11485/2 016), THE ASSESSING OFFICER HAS TO CATEGORICALLY STATE IN HIS ORDER OR NOTICE ISSUED U/S.271(1)(C) OF THE ACT AS TO WHETHER THE ASSESSEE IS GUILTY OF CONCEALMENT OF INCOME OR FURNISHING OF INACCURATE PARTICULARS OF INCOME. HE SUBMITTED THAT IF THE ORDER O R NOTICE SUFFERS FROM THIS INFIRMITY, THE PENALTY ORDER CANNOT BE SUSTAINED IN LAW. HENCE, HE SUBMI TTED THAT PENALTY OF RS.6,44,930/ - IMPOSED BY THE ASSESSING OFFICER U/S.271(1)(C) IS, THEREFORE, LIABLE TO BE CANCELLED. 4 . THE DEPARTMENTAL REPRESENTATIVE COULD NOT CONTROVERT THE ABOVE SUBMISSION OF LD AUTHORISED REPRESENTATIVE OF THE ASSESSEE. 5 . AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERUSING THE ORDERS OF LOWER AUTHORITIES, I FIND THAT THE FACTS IN THE PRESENT APPEAL ARE NOT IN DISPUTE AND THE ASSE SSING OFFICER IN THE ORDER PASS ED U/S.271(1)(C) DATED 26.3.2013 LEVIED PENALTY OF RS.6,44,930/ - OBSERVING AS UNDER: ALL THESE TYPES OF ATTEMPTS AMOUNT TO CONCEALMENT OF PARTICULARS OF ONES INCOME AS WELL AS FURNISHING OF INACCURATE PARTICULARS OF INCOME . ION VIEW THEREOF, PENALTY MAY BE IMPOSED FOR EITHER OR BOTH OF SUCH ATTEMPTS. THEREFORE, THE FACTS OF THE PRESENT APPEAL ARE IDENTICAL TO THE FACTS OF THE CASE BEFORE THE HONBLE SUPREME COURT IN THE CASE OF SSAS. EMARLD MEADOWS(SUPRA) AND, THEREFOR E, THE DECISION OF HONBLE SUPREME COURT SQUARELY APPLIES TO THE CASE OF THE ASSESSEE. HENCE, RESPECTFULLY FOLLOWING THE SAME, I CANCEL TH E LEVY OF PENALTY OF RS.6,44,930 / - U/S.271(1)(C) AND ALLOW THE GROUND OF APPEAL OF THE ASSESSEE. 3 ITA NO. 104/CTK/2015 ASSESSMENT YEAR : 2008 - 09 6. IN THE RE SULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRO NOUNCED IN THE OPEN COURT ON 22 /03 /2017 IN THE PRESENCE OF PARTIES. SD/ - ( N.S SAINI) A CCOUNTANT MEMBER CUTTACK; DATED 2 2 /03 /2017 B.K.PARIDA, SPS COPY OF THE ORDER FORWARDED TO : BY ORDER, SR.PRIVATE SECRETARY ITAT, CUTTACK 1. THE APPELLANT : SWASTIK INGOT PRIVATE LIMITED, AT: GOPAPALI, VEDVYAS, ROURKELA 2. THE RESPONDENT. DCIT, ROURKELA 3. THE CIT(A) - 1, BHUBANESWAR. 4. PR.CIT - 1, BHUBANESWAR. 5. DR, ITAT, CUTTACK 6. GUARD FILE. //TRUE COPY//