ITO, Pune V. M/s KHARDE PATIL, Pune

ITA 1518/PUN/2013

• Counselvise Citation: 151824514 RSA 2013
• Duration Of Justice: 1 year(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 31-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K MODI; P S NAIK
• Assessee Lawyers: S N DOSHI; SUDEEP V CHHALLANI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NOS.1517 & 1518/PN/2013 (A. YS. : 2005-06 & 2006-07) INCOME TAX OFFICER, WARD 4(6), PUNE. . APPELLANT VS. M/S KHARDE PATIL, SHREERAM TOWERS, OPP. COSMOS BANK LTD, AUNDH, PUNE 411 007. PAN : AAGKFK1431P . RESPONDENT DEPARTMENT BY : MR. A. K. MODI & MR. P. S. NAIK ASSESSEE BY : MR. S. N. DOSHI & MR. SUDEEP V CHHALLANI DATE OF HEARING : 11-08-2014 DATE OF PRONOUNCEMENT : 11-08-2014 ORDER PER G. S. PANNU, AM THE TWO CAPTIONED APPEALS RELATE TO DIFFERENT ASSES SMENT YEARS INVOLVING SAME ASSESSEE AND SINCE THE ISSUE RAISED IS COMMON, THEY HAVE BEEN CLUBBED AND HEARD TOGETHER AND ARE BEING DISPO SED-OFF BY WAY OF A CONSOLIDATED ORDER FOR THE SAKE OF CONVENIENCE AND BREVITY. 2. BOTH THE APPEALS ARE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, PUNE DATED 30.04.2013 WHIC H, IN TURN, HAS ARISEN FROM AN ORDER DATED 30.03.2012 PASSED BY THE ASSESS ING OFFICER U/S 271(1)(C) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) PE RTAINING TO THE ASSESSMENT YEARS 2005-06 AND 2006-07 RESPECTIVELY. 3. IN BOTH THE APPEALS, COMMON ISSUE RAISED IS WITH REGARD TO THE PENALTY IMPOSED BY THE ASSESSING OFFICER U/S 271(1)(C) OF T HE ACT, WHICH HAS SINCE BEEN DELETED BY THE CIT(A). ITA NOS.1517 & 1518/PN/2013 A. YS. : 2005-06 & 2006-07 4. THE PENALTY U/S 271(1)(C) OF THE ACT WAS LEVIED BY THE ASSESSING OFFICER ON ACCOUNT OF DENIAL OF ASSESSEES CLAIM FOR DEDUCT ION U/S 80IB(10) OF THE ACT IN RELATION TO PROFITS DERIVED FROM A HOUSING PROJE CT STYLED AS HARI OM PURAM LOCATED AT AUNDH, PUNE. THE CIT(A) HAS DELETED THE PENALTY BY NOTICING THAT IN THE QUANTUM ASSESSMENT PROCEEDINGS THE ACTION OF THE ASSESSING OFFICER DISALLOWING THE CLAIM OF DEDUCTION U/S 80IB(10) OF THE ACT HAS SINCE BEEN SET- ASIDE BY THE TRIBUNAL IN THE CASE OF THE ASSESSEE F OR ASSESSMENT YEARS 2005- 06 AND 2006-07 VIDE ORDERS IN ITA NOS.938 & 939/PN/ 2010 AND ITA NO.940/PN/2010 DATED 29.10.2012 AND 13.02.2013 RESP ECTIVELY. FOLLOWING THE AFORESAID DECISIONS OF THE TRIBUNAL, THE CIT(A) FOUND THAT THE ADDITION/DISALLOWANCE ON WHICH PENALTY WAS LEVIED H AS BEEN DELETED BY THE TRIBUNAL VIDE ITS ORDER DATED 13.02.2013 (SUPRA). ACCORDINGLY, THE LEVY OF PENALTY HAS BEEN DELETED. 5. AT THE TIME OF HEARING BEFORE US, THE FACTUAL PO SITION NOTICED BY THE CIT(A) CONTINUES TO HOLD THE FIELD AS NONE OF THE P ARTIES HAVE POINTED OUT THAT THE ORDERS OF THE TRIBUNAL DATED 29.10.2012 (SUPRA) AND 13.02.2013 (SUPRA) HAVE BEEN ALTERED BY ANY HIGHER AUTHORITY. IN VIEW OF THE AFORESAID, WE HEREBY AFFIRM THE DECISION OF THE CIT(A) IN DELETING THE P ENALTY IMPOSED U/S 271(1)(C) OF THE ACT FOR THE CAPTIONED ASSESSMENT YEARS. 6. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ABOVE DECISION WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF BOTH THE PARTIES AT THE CONCLUSION OF THE HEARING O N 11 TH AUGUST, 2014. SD/- SD/- (R.S. PADVEKAR) (G.S. PANNU) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE, DATED: 11 TH AUGUST, 2014. SUJEET ITA NOS.1517 & 1518/PN/2013 A. YS. : 2005-06 & 2006-07 COPY OF THE ORDER IS FORWARDED TO : - 1) THE ASSESSEE; 2) THE DEPARTMENT; 3) THE CIT(A)-II, PUNE; 4) THE CIT-II, PUNE; 5) THE DR B BENCH, I.T.A.T., PUNE; 6) GUARD FILE. BY ORDER //TRUE COPY// SR. PRIVATE SECRETARY I.T.A.T., PUNE