ITO, Pune V. Shri Abdul Mazeed H Memon, Pune

ITA 1613/PUN/2012

• Counselvise Citation: 161324514 RSA 2012
• Duration Of Justice: 1 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 26-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P L PATHADE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE BEFORE: SHRI G. S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO. 1613 /PN/201 2 ASSESSMENT YEAR : 2007 - 08 INCOME TAX OFFICER, WARD - 4(5), PUN E, P.M.T. BUILDING, SWARGATE, PUNE VS. SHRI ABDUL MAZEED H MEMON, PROP. M/S. GALLANT TRADERS, 186, SOLAPUR BAZAR, PUNE (APPELLANT) (RESPONDENT) PAN NO. ABBPM0454E APPELLANT BY: SHRI P.L. PATHADE RESPONDENT BY: SHRI NIKHIL PATHAK / SHRI SUHAS P. B O RA DATE OF HEARING : 29 - 10 - 2013 DATE OF PRONOUNCEMENT : 31 - 10 - 2013 ORDER P ER R.S. PADVEKAR , JM : - IN THIS APPEAL, THE REVENUE HAS CHALLENGED THE IMPUGNED ORDER OF THE LD. CIT(A) - II, PUNE DATED 30 - 03 - 2012 FOR THE A.Y. 2007 - 08 DELETING THE PENALTY LEVIED BY THE ASSESSING OFFICER U/S. 271(1)(C) OF THE INCOME - TAX ACT. 2. WE HAVE HEARD THE PARTIES. WHILE COMPLETING THE ASSESSMENT FOR THE A.Y. 2007 - 08 , THE ASSESSING OFFICER HAS MADE THE ADDITION OF RS.20,26,125/ - TOWARDS ALLEGED UNDER VALUATION OF C LOSING STOCK. THE LD. CIT(A) HAS DELETED THE ADDITION MADE BY THE ASSESSING OFFICER OF RS.20,26,125/ - WHICH WAS BAS IS FOR LEVY OF PENALTY U/S. 271(1)(C) OF THE ACT. THE TRIBUNAL HAS CONFIRMED THE ORDER OF THE LD. CIT(A) DELETING THE ADDITION BY DISMISSIN G THE APPEAL BEING ITA NO. 1614/PN/2012 ORDER DATED 31 - 10 - 2013. THE PRESENT APPEAL IS AGAINST THE ORDER OF THE LD. CIT(A) DELETING THE PENALTY LEVIED BY THE ASSESSING OFFICER ON THE ABOVE 2 ITA NO. 1613/PN/2012, SHRI ABDUL MAZEED H MEMON, PUNE REFERRED ADDITION. AS THE ADDITION ITSELF HAS BEEN DELETED , THE VE RY FOUNDATION OF THE PENALTY DOES NOT SURVIVE . SINCE T HE LD. CIT(A) HAS ALREADY DELETED THE PENALTY W E, THEREFORE, CONFIRM THE ORDER OF THE LD. CIT(A) DELETING THE PENALTY. 3. IN THE RESULT, THE REVENUES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COUR T ON 31 - 10 - 2013 SD/ - SD/ - ( G.S. PANNU ) ( R.S. PADVEKAR ) ACCOUNTANT MEMBER JUDICIAL MEMBER RK /PS PUNE , DATED : 31 ST OCTOBER, 20 1 3 COPY TO 1 ASSESSEE 2 DEPARTMENT 3 THE CIT(A) - II, PUNE 4 THE CIT - II, PUNE 5 THE DR, ITAT, A BENCH, PUNE . 6 GUARD FILE. //TRUE COPY// BY ORDER PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL PUNE