A.C.I.T.. Cir.-1, Nagpur V. M/s TRRUPATH DEVELOPERS, Nagpur

ITA 134/NAG/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5369 (ITAT-NAGPUR)
• Duration Of Justice: 3 year(s) 2 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 22-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR MILIND BHUSARI
• Assessee Lawyers: SURE N DURUGKAR
• Keywords: Tax effect
• Section: 40A(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI JASON P. BOAZ , HONBLE ACCOUNTANT MEMBER & SHRI SANDEEP GOSAIN , HONBLE JUDICIAL MEMBER ITA NO. 134 / NAG /201 5 (ASST. YEAR : 20 08 - 0 9 ) ACIT, CIRCLE - 1, NAGPUR. V S . M/S. TIRUPATI DEVELOPERS, 3 RD FLOOR, NKY TOWERS, AJNI SQAURE, WARDHA ROAD, NAGPUR 440 012 PAN NO. AAEFT 2905 K (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI SUREN DURUGKAR , C A. DEPARTMENT BY : SHRI DR. MILIND BHUSARI , SR. DR DATE OF HEARING : 12 / 0 7 /201 8 . DATE OF PRONOUNCEMENT : 12 / 0 5 /201 8 . O R D E R PER JASON P. BOAZ , A M : TH IS APPEAL AT THE INSTANCE OF THE REVENUE IS DIRECTED AGAINST THE IMPUGNED ORDER DATED 30/01/2015 , PASSED BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - I , NAGPUR , FOR ASSESSMENT YEAR 200 8 - 0 9 RAISING FOLLOWING GROUNDS OF APPEAL: - 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(APPEALS) HAS ERRED IN DELETING THE PENALTY OF RS. 15,00,000 / - LEVIED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE INCOME TAX ACT, 1961 . 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD.CIT(APPEALS) HAS ERRED IN HOLDING THAT THE ASSESSEE HAS FULLY DISCLOSED THE MATERIAL FACTS IN THE RETURN OF INCOME 2 ITA NO. 134 / NAG /2015 ( M/S. TIRUPATI DEVELOPERS ) OVERLOOKING THE FACT THAT IN COLUMN 17(H)(B) - RELATING TO SECTION 40A(3) READ WITH RULE 6DD - OF FORM NO. 3CD, I.E., THE AUDIT REPORT U/S 44AB, THE AUDITORS HAVE GIVEN 'NI L' INFORMATION ON THE BASIS OF CERTIFICATE GIVEN BY THE ASSESSEE AND THUS HAS FURNISHED INACCURATE PARTICULARS OF INCOME. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(APPEALS) HAS ERRED IN RELYING UPON THE DECISION OF HON . SUPREME COURT IN THE CASE OF C IT VS. RELIANCE PETRO PRODUCTS (P) LTD. 322 ITR 158/189 TAXMAN 322 WHICH IS CLEARLY DISTINGUISHABLE ON FACTS . 4. ANY OTHER GROUND THAT MAY BE RAISED WITH THE PERMISSION OF HON'BLE ITAT. 2. AT THE OUTSET, BOTH THE LD. AR FOR THE ASSESSEE AND DR FOR THE REVENUE SUBMITTED BEFORE THE BENCH THAT THE TAX EFFECT PERTAINING TO THE AMOUNT DISPUTED BY THE REVENUE IS LESS THAN THE MONETARY LIMIT OF RS. 20 LAKH FIXED BY THE CBDT IN CIRCULAR NO. 03/2018 , DATED 11/07/2018 , WHICH IS IN SUPERSESSION OF ITS CIRCULAR NO. 21 / 2015 DATED 10/12/2015, IN RELATION TO FILING OF APPEALS BEFORE THE INCOME TAX APPELLATE TRIBUNAL. TAKING INTO CONSIDERATION THE AFORESAID SUBMISSIONS OF BOTH THE LD. AUTHORIZED REPRESENTATIVE FOR THE ASSESS EE AND THE DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE AND ALSO THE FACT THAT THE CBDT CIRCULAR UNDER REFERENCE APPLIES RETROSPECTIVELY EVEN TO PENDING APPEALS, WE HOLD THAT THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMIN E . 3 ITA NO. 134 / NAG /2015 ( M/S. TIRUPATI DEVELOPERS ) 3 . IN THE RESULT, REVENUES APPEAL FOR ASSESSMENT YEAR 2008 - 09 IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON TH IS 12 TH DAY OF JULY , 201 8 . SD/ - SD/ - ( SANDEEP GOSAIN ) ( JASON P. BOAZ ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 12 TH JULY , 201 8 . VR/ - COPY TO: 1. THE ASSESSEE - M/S. TIRUPATI DEVELOPERS, 3 RD FLOOR, NKY TOWERS, AJNI SQAURE, WARDHA ROAD, NAGPUR 440 012 2. THE REVENUE ACIT, CIRCLE - 1, NAGPUR. 3. THE CIT - I, NAGPUR. 4. THE CIT(A) - I, NAGPUR. 5. THE D.R . , NAGPUR. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.