The ITO, Ward-3(2), Ahmedabad V. Shri Amit Mahendrabhai Shah, Ahmedabad

ITA 1595/AHD/2012

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 9740 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-07-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 02-07-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 20-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Keywords: Unexplained investment; Business income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, AHMEDABAD BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI S.S. GODARA JUDICIAL MEMBER ITA NO.1001/AHD/2012 ASSTT.YEAR : 2006-07 ITO, WARD-7(3) SURAT. VS SMT. JIGNASHA RAJESH GOHIL M-27, SOMESHWAR ENCLAVE SOUTH GUJARAT UNIVERSITY UDHNA MAGDALLA ROAD SUIRAT 394 550. PAN : AHWPG 7621 G (APPELLANT) (RESPONDENT) REVENUE BY : SHRI DINESH SINGH, SR.DR ASSESSEE(S) BY : NONE / DATE OF HEARING : 06/07/2015 / DATE OF PRONOUNCEMENT: 10/07/2015 / O R D E R PER S.S. GODARA, JUDICIAL MEMBER THIS REVENUE APPEAL FOR THE ASSTT.YEAR 2006-07 RISE S FROM ORDER OF THE CIT(A)-V, SURAT DATED 12.1.2012 IN CAS E NO.CAS- V/117/2011-12, DELETING PENALTY OF RS.5,46,255/-, I N PROCEEDING UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT (THE ACT FOR SHORT). 2. THE CASE CALLED TWICE. THE REGISTRY HAS SERVED THE ASSESSEE THROUGH AN RPAD POST. NOBODY HAS COME PRESENT AT H ER BEHEST. SHE IS ACCORDINGLY PROCEEDING EX PARTE. ITA NO.1001/AHD/2012 - 2 - 3. FACTS OF THE CASE ARE IN A NARROW COMPASS. THE ASSESSING OFFICER FRAMED BEST JUDGMENT ASSESSMENT IN ASSESSEE CASE ON 30.12.2008 ADDING UNEXPLAINED INVESTMENT IN PURCHAS E OF PRINCIPAL MUTUAL FUND UNITS AND ALSO THE PEAK AMOUNT OF RS.10 ,44,970/- AS A UNACCOUNTED BUSINESS INCOME. THE ASSESSEES INCOM E ACCORDINGLY STOOD COMPUTED TO RS.19,91,293/- AS AGAINST THE ONE DECLARED OF RS.1,46,323/-. THE ASSESSING OFFICER ALSO INITIA TED PENALTY PROCEEDINGS AGAINST ASSESSEE ALLEGING CONCEALMENT A ND FURNISHING OF INACCURATE PARTICULARS OF INCOME. THEREAFTER, HE P ASSED PENALTY ORDER DATED 2.6.2009 IMPOSING THE IMPUGNED PENALTY OF RS.5,46,255/- FOR WANT OF ASSESSEES APPEARANCE AND NECESSARY REPLY TO THE SHOW CAUSE NOTICE. 4. THE ASSESSEE PREFERRED APPEAL. THE CIT(A) HOLDS THAT THE QUANTUM ADDITION HEREINABOVE ALREADY STANDS DELETED IN LOWER APPELLATE ORDER DATED 15.9.2001. HE HAS DELETED TH E IMPUGNED PENALTY ON THIS PRECISE GROUND. THEREFORE, THE RE VENUE IS IN APPEAL. 5. WE HAVE HEARD REVENUE AND GONE THROUGH THE CASE F ILE. WE PUT A SPECIFIC QUERY ABOUT THE FACT AS TO WHETHER C IT(A)S ORDER DELETING THE ABOVE STATED ADDITIONS FORMING BASIS O F THE IMPUGNED PENALTY HAS BEEN SUSTAINED OR REVERSED BY HIGHER JU DICIAL FORUMS. IT REPLIES IN NEGATIVE NOR DOES IT APPRISE ABOUT THE L ATEST STATUS THEREOF. WE HOLD IN THESE CIRCUMSTANCES THAT THE IMPUGNED PEN ALTY HAS NO ITA NO.1001/AHD/2012 - 3 - LEGS TO STAND IN VIEW OF THE CIT (A)S ORDER QUANTU M PROCEEDINGS. THE REVENUES SOLE SUBSTANTIVE GROUND FAILS. 6. THE REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE COURT ON THIS DAY, THE 10TH JULY, 2015 AT AHMEDABAD. SD/- SD/- (ANIL CHATURVEDI) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 10 /07/2015 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ! '# $ / CONCERNED CIT 4. $ () / THE CIT(A)-III, AHMEDABAD 5. '() **'# , '# , ,-! / DR, ITAT, AHMEDABAD 6. )./ 0 / GUARD FILE. / BY ORDER, / ( DY./ASSTT.REGISTRAR) !, #$ / ITAT, AHMEDABAD 1. DATE OF DICTATION- 06.07.2015 DIRECT ON COMPUTER 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER- 06.07.2015 3. OTHER MEMBER 6-7-2015. 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P.S./P.S. 6-7-2015 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 10-7-2015 6. DATE ON WHICH THE FAIR ORDER COMES TO THE SR.P.S. 1072015. 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK- 10-7-2015. 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK. 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER