Manishkumar Shripalbhai Shah, Surat V. The Income tax Officer-Ward-3(3), Surat

ITA 1416/AHD/2011

• Counselvise Citation: 141620514 RSA 2011
• Duration Of Justice: 2 year(s) 8 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-01-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2005-2006
• Appeal Filed On: 18-05-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K C MATHEWS
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: SRI D.K TYAGI, JUDICIAL MEMBER AND SHRI T.R.MEENA, ACCOUNTANT MEMB ER SRI MANISHKUMAR SHRIPALBHAI SHAH, 803, SHIVANJALI APPARTMENT, HOTEL CENTRE COURT LANE, ATHWALINES, SURAT PAN: ACQPS9794P (APPELLANT) VS INCOME TAX OFFICER, WARD-3(3), SURAT. (RESPONDENT) REVENUE BY: SRI K.C.MATHEWS, SR.D.R. ASSESSEE BY: NONE DATE OF HEARING : 27-01-2014 DATE OF PRONOUNCEMENT : 27-01-20 14 / ORDER PER : D.K. TYAGI, JUDICIAL MEMBER:- THIS IS THE ASSESSEES APPEAL AGAINST THE ORDER OF LD. CIT(A)-II SURAT DATED 25-03-2011 CONFIRMING THE PENALTY U/S. 271(1) (C) OF RS. 22,84,000/-. ITA NO.1416/AHD/2011 ASSESSMENT YEAR 2005-06 I.T.A NO.1416/AHD/2011 A.Y. 2005-06 PAGE NO SRI MANISHKUMAR SHRIPALBHAI SHAH VS. ITO 2 2. ASSESSEE THROUGH WRITTEN SUBMISSION DATED 24 TH JANUARY, 2014 HAS BROUGHT TO OUR NOTICE THAT IN QUANTUM PROCEEDINGS A DDITION OF RS. 76,75,000/- MADE BY AO U/S. 68 OF THE ACT ON WHICH THE PENALTY UNDER APPEAL WAS LEVIED HAS BEEN RESTORED BACK TO THE FIL E OF LD. CIT(A) FOR FRESH CONSIDERATION BY HONBLE TRIBUNAL VIDE ITA NO. 1654 /AHD/2009 DATED 13/11/2013(COPY OF THE ORDER IS ALSO ENCLOSED), THE REFORE PENALTY HAS NO LEGS TO STAND. IN VIEW OF THIS THE PENALTY IS HEREBY SE T ASIDE AND MATTER IS RESTORED BACK TO THE FILE OF LD. CIT(A) FOR APPROPRIATE ACTI ON AFTER DECIDING THE QUANTUM APPEAL OF THE ASSESSEE. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE AT CAPTION PAGE SD/- SD/- (T.R.MEENA) ( D.K. TYAGI) ACCOUNTANT MEMBER J UDICIAL MEMBER AHMEDABAD : DATED 27/01/2014 AK / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,