MAHENDRA KUMAR GOLANI, Jaipur V. ITO, Jaipur

ITA 134/JPR/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99358 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 7 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 24-02-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJENDRA SINGH JCIT DHK
• Assessee Lawyers: S L PODDAR

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH VH-VKJ-EHUK] YS[KK LNL; ,OA JH YFYR DQEKJ] U;KF; D LNL; DS LE{K BEFORE: SHRI T.R.MEENA, AM & SHRI LALIET KUMAR, JM VK;DJ VIHY LA-@ ITA NO. 134/JP/2014 FU/KZKJ.K O'K Z@ ASSESSMENT YEARS : 2006-07 . SHRI MAHENDRA KUMAR GOLANI, PROP. KALA MANDIR, JAIPUR. CUKE VS. THE INCOME-TAX OFFICER, WARD 1(3), JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO. AEXPG 2060 D VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT /KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI S.L. PODDAR (ADVOCATE) JKTLO DH VKSJ LS@ REVENUE BY : SHRI RAJENDRA SINGH, (JCIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 08.10.2015. ?KKS'K .KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 21/10/2015. VKNS'K@ ORDER PER SHRI LALIET KUMAR, J.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT (A)-I, JAIPUR DATED 17.12.2013 FOR THE A.YS. 2006-07. THE SOLE GROUND RAISED IN THE APPEAL IS AS UNDER :- THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD. CIT (A) IS WRONG, UNJUST AND HAS ERRED IN LAW IN CONFIR MING PENALTY OF RS. 9,12,867/- IMPOSED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE I.T ACT, 1961. 2 ITA NO. 134/JP/2014 A.Y. 2006-07. SHRI MAHENDRA KUMAR GOLANI, JAIPUR. 2. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. THE BENCH OBSERVED THAT THIS BENCH VIDE ITS CONSOLIDATED ORDE R DATED 09.01.2015 IN ITA NO. 462/JP/2011 & OTHERS HAS ALLOWED THE APPEAL OF THE ASSESSEE AND DELETED THE ADDITION BY OBSERVING AS UNDER :- 5.32. CONSIDERING ALL THE FACTS, CIRCUMSTANCES A ND PLEADING OF BOTH THE PARTIES, WE ARE OF THE VIEW THAT THIRD INVENTOR Y SHOULD BE EXCLUDED FROM THE AGGREGATE STOCK ADDED IN THE HANDS OF THE ASSESSEE. IT IS NOT DISPUTED THAT IF THIRD INVENTORY IS EXCLUDED THERE WILL BE NO RESULTANT ADDITION AS RETAINED BY THE LD. CIT (A). THUS WE DE LETE THE DISALLOWANCE RETAINED BY LD. CIT (A). IN THE RESULT, REVENUES GROUND IS DISMISSED AND ASSESSEES GROUND IS ALLOWED. SINCE WE HAVE ALLOWED THE QUANTUM APPEAL IN FAVOUR OF THE ASSESSEE, THEREFORE, THE PENALTY INITIATED BY THE REVENUE AGAINST THE ASSESS EE IS LIABLE TO BE DISMISSED. THUS THE GROUND OF THE ASSESSEE IS ALLOWED. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 21/10/2015. SD/- SD/- VH-VKJ-EHUK YFYR DQEKJ (T.R. MEENA) (LALIET KUMAR) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 21/10/2015 DAS/ 3 ITA NO. 134/JP/2014 A.Y. 2006-07. SHRI MAHENDRA KUMAR GOLANI, JAIPUR. VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- SHRI MAHENDRA KUMAR GOLANI, JAIPUR. 2. IZR;FKHZ @ THE RESPONDENT- THE ITO, WARD 1(3), JAIPUR. 3. VK;DJ VK;QDR @ CIT 4. VK;DJ VK;QDRVIHY @ THE CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ @ DR, ITAT, JAIPUR 6. XKMZ QKBZY @ GUARD FILE (ITA NO.134/JP/2014) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR