Shri Kishorechand Kakaram Bansal, Ahmedabad V. The Income tax Officer,Ward-4(4), Ahmedabad

ITA 1553/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1501 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 08-04-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 27-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA SINGH
• Assessee Lawyers: ASSEEN THAKKAR

Judgement Text

I.T.A. NO . 1553 /AHD/ 20 1 3 ASSESSMENT Y EAR: 20 05 - 06 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD B BENCH, AHMEDABAD [CORAM : PRAMOD KUMAR AM AND S.S. GODARA JM ] I.T.A. NO. 1553 /AHD/ 20 1 3 ASSESSMENT Y EAR : 20 05 - 06 K ISHORECHAND KAKARAM BANSAL .... .......... .APPELLANT 52, VASANTKUNJ SOCI E TY, NEW SHARDA MANDIR ROAD, PALDI, AHMEDABAD . [ PAN: A FKPB 7749 A ] VS. INCOME TAX OFFICER , WARD 4(4), AHMEDABAD. ............. . RESPONDENT APPEARANCES BY: ASSEEN THAKKAR , FOR THE APPELLANT NARENDRA SINGH , FOR THE RESPONDENT D ATE OF CO NCLUDING THE HEARING : APRIL 8 TH , 201 6 DATE OF PRONOUNCING THE ORDER : MAY 31 ST , 201 6 O R D E R PER PRAMOD KUMAR AM : BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 22.03.2013 PASSED BY THE LEARN ED CIT(A) UPHOLDING PENALTY OF RS.58,32,351/ - IMPOSED ON THE ASSESSEE UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961 ( THE ACT HEREINAFTER), FOR THE ASSESSMENT YEAR 2005 - 06. 2. WHEN THIS APPEAL WAS CALLED OUT FOR HEARING , SHRI ASSEEN THAKKAR, LEARNED COUNSEL FOR THE ASSESSEE INVITED OUR ATTENTION TO THE ORDER DATED 08.05.2013 PASSED BY A CO - ORDINATE BENCH OF THIS TRIBUNAL, IN ASSESSEE S OWN CASE IN THE QUANTUM PROCEEDINGS, REMITTING THE QUANTUM ADDITION TO THE FILE OF LD. CIT(A). HE SUBMITS THAT NOW THAT THE QUANTUM ADDITIONS STAND RESTORED TO THE FILE OF LD. CIT(A) I.T.A. NO . 1553 /AHD/ 20 1 3 ASSESSMENT Y EAR: 20 05 - 06 PAGE 2 OF 2 BUT THE VERY FOUNDATION OF THE IMPUGNED PENALTY PROCEEDINGS CEASES TO HOLD GOOD IN LAW. HE, THEREFORE, URGES US TO REMIT THE PENALTY MATTER ALSO TO THE FILE OF THE LD. CIT(A) FOR ADJUDICA TION DENOVO IN THE LIGHT OF AND AFTER QUANTUM PROCEEDINGS ARE FINALISED. 3. LD. DEPARTMENTAL REPRESENTATIVE DOES NOT OPPOSE THE PRAYER OF THE ASSESSEE. 4. IN VIEW OF THE ABOVE DISCUSSIONS AND IN THE FACTUAL SCENARIO, WE DEEM IT FIT AND PROPER TO REMIT THE MATTER TO THE FILE OF LD. CIT(A) FOR FRESH ADJUDICATION, IF REQUIRED, ON MERITS. 5. IN THE RESULT, APPEAL IS ALLOWED FOR STATISTICAL PURPOSES . P RONOUNCED IN THE OPEN COUR T TODAY ON THE 31 ST DAY OF MAY , 2016 . SD/ - SD/ - S.S. GODARA PRAMOD KUMAR (JUDICIA L MEMBER) (ACCOUNTANT MEMBER) DATED: THE 31 ST DAY OF MAY , 2016. PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX A PPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD