The DCIT, Circle-1, Ahmedabad V. Shri Bhadresh K. Shah, Ahmedabad

ITA 1323/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8694 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 3 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 14-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Deemed dividend

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA NO. 1323/AHD/2015 (ASSESSMENT Y EAR: 2003-04) DY. CIT(A), CIR.1(1)(1), AHMEDABAD APPELLANT VS. SHRI BHADRESH K SHAH 9-A, ASHOK VATIKA NO.1, BOPAL ROAD, AMBLI, AHMEDABAD RESPONDENT PAN: ANFPS740G /BY REVENUE : SHRI MUDIT NAGPAL, SR. D.R. /BY ASSESSEE : SHRI TUSHAR P. HEMANI, A.R. /DATE OF HEARING : 23.08.2017 /DATE OF PRONOUNCEMENT : 28 .08.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR ASSESSMENT YEAR 2003-04 A RISES AGAINST THE CIT(A)-1, AHMEDABADS ORDER DATED 06 TH FEBRUARY, 2015, PASSED IN CASE NO. CIT(A)-V1/DCIT/CIR.-1/180/2013-14, DELETING PENALTY OF RS.22.05LACS LEVIED BY THE ASSESSING OFFICER IN HIS ORDER DATED 20.03.2013, IN PROCEEDINGS U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961; IN SHOR T THE ACT. ITA NO. 1323/AHD/15 (DCIT VS. SHRI BHADRESH K SHA H) A.Y. 2003-04 - 2 - 2. LEARNED COUNSEL REPRESENTING ASSESSEE FILES BEFO RE US A COPY OF THIS TRIBUNALS QUANTUM ORDER DATED 23.12.2016 IN ITA NO . 89/AHD/2012 DELETING SECTION 2(22E) DEEMED DIVIDEND ADDITION ITSELF OF R S.60 LACS AS MADE BY THE ASSESSING OFFICER AND UPHELD IN CIT(A)S ORDER DATE D 03.11.2011. THE REVENUE FAILS TO REBUT THIS CLINCHING FACTUAL POSIT ION. WE THEREFORE CONCLUDE THAT THE IMPUGNED PENALTY ARISING FROM THE SAID QUA NTUM ADDITION DOES HAVE NO LEGS TO STAND. THE REVENUES SOLE SUBSTANTIVE G ROUND IS ACCORDINGLY DECLINED. 3. THIS REVENUES APPEAL IS DISMISSED. [PRONOUNCED IN THE OPEN COURT ON THIS THE 2 8 TH DAY OF AUGUST, 2017.] SD/- SD/- ( MANISH BORAD ) (S. S. GOD ARA) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD: DATED 28/08/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 45 / GUARD FILE. BY ORDER / . // . /0