Kuvawalla Drill Equipment , Pune V. Income-tax Officer, Ward - 14 (1), Pune

ITA 1374/PUN/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 4372 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 11 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 15-09-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Reassessment proceedings
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.1374 & 1375/PUN/2019 िनधाᭅरण वषᭅ / Assessment Years: 2010-11 & 2011-12 Kuvawalla Drill Equipment, Sub Plot No.2, F.P. No.6, 8, Hadapsar Indl. Area, Part-II, Arun Chamber, Tardeo Road, Ramtekadi, Hadapsar-411013. PAN : AAIFK4139Q Vs. ITO, Ward-14(1), Pune. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against the separate orders of ld. Commissioner of Income Tax- 7, Pune [‘the CIT(A)] dated 04.06.2019 for the assessment years 2010-11 & 2011-12 respectively. Assessee by : Shri Vijay Mecwan Revenue by : Shri S. P. Walimbe Date of hearing : 03.08.2022 Date of pronouncement : 22.08.2022 ITA Nos.1374 & 1375/PUN/2019 2 2. Since the identical facts and common issues are involved in all the above captioned two appeals, we proceed to dispose of the same by this common order. 3. For the sake of convenience and clarity, the facts relevant to the appeal in ITA No.1374/PUN/2019 for the assessment year 2010-11 are stated herein. ITA No.1374/PUN/2019, A.Y. 2010-11 : 4. Briefly, the facts of the case are that the appellant is a partnership firm. It is engaged in the business of manufacturing in drilling equipments. The return of income for the assessment year 2010-11 was filed on 07.10.2010 declaring total income of Rs.81,67,464/- and no scrutiny assessment was made. Subsequently, on receipt of the information from the Investigation Wing of the Department that the appellant made purchase from Hawala dealers, the Income Tax Officer, HQ- 6(2), Pune (‘the Assessing Officer’) reopened the assessment and completed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (‘the Act’) vide ITA Nos.1374 & 1375/PUN/2019 3 order dated 27.03.2015 after making addition on account of Hawala purchase. Subsequently, the assessment was annulled by this Tribunal in ITA Nos.2534 & 2535/PUN/2017 for the assessment years 2010-11 and 2011-12 vide order dated 26.10.2021 by holding that the reassessment proceedings were bad in law for the reasons that the re-assessment proceedings were initiated without independent application of mind by the Assessing Officer. Thus, the assessment order came to be annulled by this Tribunal. Therefore, the question of levy of penalty u/s 271(1)(c) does not arise. 5. In the result, the appeal of the assessee in ITA No.1374/PUN/2019 for A.Y. 2010-11 stands allowed. ITA No.1375/PUN/2019, A.Y. 2011-12 : 6. Since the facts and issues involved in all the above two appeals are identical, therefore, our decision in ITA No.1374/PUN/2019 for A.Y. 2010-11 shall apply mutatis mutandis to the remaining appeal of the assessee in ITA No.1375/PUN/2019 for A.Y. 2011-12 respectively. Accordingly, the appeal of the ITA Nos.1374 & 1375/PUN/2019 4 assessee in ITA No.1375/PUN/2019 for A.Y. 2011-12 stands allowed. 7. To sum up, both the above appeals filed by the assessee stands allowed. Order pronounced on this 22 nd day of August, 2022. Sd/- Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 22 nd August, 2022. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A)-7, Pune. 4. The Pr. CIT-6, Pune. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “A” बᱶच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.