The ITO, Ward-1(3), Ahmedabad V. M/s. Choksi Organics Pvt. Ltd., Ahmedabad

ITA 126/AHD/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 6277 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 18-01-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 115JB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. NO: 125/AHD/2016 & C.O. NO. 30/AHD/16 (ASSESSMENT YEAR: 2011-12) ITO, WARD-1(1)(3), AHMEDABAD M/S. CHOKSI ORGANICS PVT. LTD. 802, SATKAR COMPLEX, B/H SWAGAT COMPLEX C.G. ROAD, AHMEDABAD-380009 V/S V/S M/S. CHOKSI ORGANICS PVT. LTD. 802, SATKAR COMPLEX, B/H SWAGAT COMPLEX C.G. ROAD, AHMEDABAD-380009 ITO, WARD-(1)(3), AHMEDABAD (APPELLANT) (RESPONDENT) ITA. NO: 126/AHD/2016 & C.O. NO. 31/AHD/16 (ASSESSMENT YEAR: 2011-12) ITO, WARD-1(1)(3), AHMEDABAD M/S. CHOKSI ORGANICS PVT. LTD. 802, SATKAR COMPLEX, B/H SWAGAT COMPLEX C.G. ROAD, AHMEDABAD-380009 V/S V/S M/S. CHOKSI ORGANICS PVT. LTD. 802, SATKAR COMPLEX, B/H SWAGAT COMPLEX C.G. ROAD, AHMEDABAD-380009 ITO, WARD-(1)(3), AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AABCC4628C APPELLANT BY : SHRI MUDIT NAGPAL, SR. D.R . RESPONDENT BY : SHRI KARAN SHAH, A.R. ITA NOS. 125 & 126/AHD/2016 & C.O. NOS. 30 & 31/AHD/2016 . A.Y. 2011-1 2 2 ( )/ ORDER DATE OF HEARING : 16 -01-201 8 DATE OF PRONOUNCEMENT : 18 -01-2018 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. ITA NO. 125/AHD/2016 & C.O. NO. 30/AHD/2016 ARE APP EAL BY THE REVENUE AND CROSS OBJECTION BY THE ASSESSEE DIRECTED AGAINS T THE ORDER OF THE LD. CIT(A)-1, AHMEDABAD DATED 27.11.2015 PERTAINING TO A.Y. 2011-12. ITA NO. 126/AHD/2016 & C.O. NO. 31/AHD/2016 ARE APPEAL BY T HE REVENUE AND CROSS OBJECTION BY THE ASSESSEE DIRECTED AGAINST THE ORDE R OF THE LD. CIT(A)-1, AHMEDABAD DATED 26.11.2015 PERTAINING TO A.Y. 2011- 12. 2. AS COMMON ISSUES ARE INVOLVED IN BOTH THESE APPEALS AND CROSS OBJECTIONS, THESE WERE HEARD TOGETHER AND ARE DISPOSED OF BY TH IS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 3. THE COMMON GRIEVANCE IN BOTH THESE APPEALS BY THE R EVENUE RELATES TO THE DELETION OF THE PENALTY LEVIED U/S. 271(1)(C) OF TH E ACT, THOUGH, QUANTUM OF PENALTY MAY DIFFER IN EACH APPEAL. 4. THE FACTS RELATING TO THE LEVY OF PENALTY SHOW THAT THE ASSESSMENT WAS COMPLETED U/S. 115JB OF THE ACT AND THE ASSESSEE PA ID TAXES UNDER MAT. SINCE THE ASSESSEE HAS PAID THE TAXES AS PER THE PROVISIO NS OF SECTION 115JB OF THE ACT AND NOT AS PER REGULAR COMPUTATION OF TOTAL INC OME, THE FACTS ARE IDENTICAL TO THE FACTS CONSIDERED BY THE HONBLE DELHI HIGH C OURT IN THE CASE OF NALWA SONS INVESTMENT LTD. 327 ITR 543. THE CBDT VIDE A C IRCULAR NO. 25 OF 2015 ITA NOS. 125 & 126/AHD/2016 & C.O. NOS. 30 & 31/AHD/2016 . A.Y. 2011-1 2 3 DATED 31.12.2015 HAS DIRECTED THE REVENUE THAT NO A PPEALS BE FILED ON THIS GROUND AND APPEALS ALREADY FILED ON THIS ISSUE MAY BE WITHDRAWN/NOT PRESSED UPON. IN THE SAID CIRCULAR, THE BOARD HAS ACCEPTED THE JUDGMENT OF HONBLE DELHI HIGH COURT IN THE CASE OF NALWA SONS INVESTME NT LTD. (SUPRA). SINCE THE ISSUE IS NOW SQUARELY COVERED IN FAVOUR OF THE ASSE SSEE AND AGAINST THE REVENUE, WE DO NOT FIND ANY REASON TO INTERFERE WITH THE FIN DINGS OF THE LD. CIT(A). APPEALS FILED BY THE REVENUE ARE ACCORDINGLY DISMIS SED. 5. THE CROSS OBJECTIONS BY THE ASSESSEE ARE IN SUPPORT OF THE ORDER OF THE LD. CIT(A). SINCE, WE HAVE CONFIRMED THE FINDINGS OF TH E LD. CIT(A), THE CROSS OBJECTIONS BECOME OTIOSE. ORDER PRONOUNCED IN OPEN COURT ON 18- 01- 20 18 SD/- SD/- (MAHAVIR PRASAD) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY ACCOUNTANT MEMBER AHMEDABAD: DATED 18 /01/2018 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD