Echolac Finvest Pvt.Ltd., Ahmedabad V. The Income tax Officer,Ward-4(1), Ahmedabad

ITA 1356/AHD/2009

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 6397 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 1 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-06-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 08-06-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 27-04-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAKASH DUBEY
• Assessee Lawyers: S N SOPARKAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH A BEFORE SHRI G. D. AGARWAL, HONBLE VICE PRESIDENT AND SHRI D. K. TYAGI, JUDICIAL MEMBER I.T.A. NO. 1356/ AHD/2009 (ASSESSMENT YEAR 2006-07) M/S. ECHOLAC FINVEST PVT. LTD., 44/D, SHARNAM 12, PRAHLADNAGAR, VEJALPUR, AHMEDABAD VS. ITO, WARD 4(1), AHMEDABAD PAN/GIR NO. : AAACE3446R (APPELLANT) .. (RESPONDENT) APPELLANT BY: SHRI S. N. SOPARKAR, AR RESPONDENT BY: SHRI PRAKASH DUBEY, DR O R D E R PER SHRI D. K. TYAGI, JM: THIS APPEAL BY THE ASSESSEE HAS BEEN PREFERRED BY THE ASSESSEE AGAINST THE ORDER DATED 27.02.2009 OF CIT(A) VIII, AHMEDABA D FOR THE ASSESSMENT YEAR 2006-07. THE ASSESSEE HAS TAKEN FOLLOWING GRO UNDS OF APPEAL: (1) THE LEARNED COMMISSIONER OF INCOME TAX (APPEAL S ) VIII AHMEDABAD HAS ERRED BOTH IN LAW AND ON FACTS OF THE CASE IN PASSING AN APPELLATE ORDER FOR A.Y.2006.07 ON 27.02.2009 (2) THE LEARNED C.I.T.(A) AHMEDABAD HAS ERRED IN AP PROVING THE APPLICABILITY OF THE PROCEDURE LAID DOWN IN RULE 8D TO THE FACTS OF ASSESSEE'S CASE AND THEREBY CONFIRMING THE DISALLOW ANCE MADE OF RS. 14,45,256/-U/S.14AOF THE I.T.ACT. (3) THE LEARNED C.I.T.(A) AHMEDABAD HAS ERRED IN CO NFIRMING THE DISALLOWANCE OF RS. 4,67,085/- U/S.14A OF THE I.T. ACT. I.T.A.NO.1356/AHD/2009 2 (4) THE LEARNED CIT(A) AHMEDABAD HAS ERRED IN NOT A DJUDICATING GROUND RELATING TO INITIATION OF PENALTY PROCEEDING . 2. AT THE TIME OF HEARING AT THE OUTSET, LD. COUNSE L FOR THE ASSESSEE SUBMITTED THAT THE ISSUE INVOLVED IN THE APPEAL IS COVERED BY THE EARLIER ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE FOR THE ASSE SSMENT YEAR 2004-05 IN I.T.A NO. 4234/AHD/2007. LD. D.R. DID NOT OPPOSE T HE SUBMISSIONS OF THE LD. A.R. THEREFORE, THE ISSUE IS RESTORED BACK TO THE FILE OF THE A.O. FOR FRESH ADJUDICATION IN ACCORDANCE WITH THE EARLIER D ECISION OF THE TRIBUNAL IN I.T.A. NO. 4234/AHD/2007 FOR THE ASSESSMENT YEAR 20 04-05 IN THE ASSESSEES OWN CASE. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS ALLOWED FOR STATISTICAL PURPOSES. 4. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH JUNE 2011. SD./- SD./- (G. D. AGARWAL) (D.K.TYAGI) VICE PRESIDENT JUDICIAL MEMBER AHMEDABAD; DATED :17 TH JUNE, 2011 SP COPY OF THE ORDER FORWARDED TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE LD. CIT (APPEALS) 5. THE DR, AHMEDABAD 6. THE GUARD FILE I.T.A.NO.1356/AHD/2009 3 1. DATE OF DICTATION 13/6/11 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 14/6/11 OTHER MEMBER 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P .S./P.S. 15/6/11 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 17/6/11 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. P.S./P.S. 17/6/11 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 17/6/11 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK .. 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER . 9. DATE OF DESPATCH OF THE ORDER. ..