Radical Bio Organics Limited , Ranga Reddy V. Income Tax Officer, Ward-3(2), Hyderabad

ITA 1633/Hyd/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 1420 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-07-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2013-2014
• Appeal Filed On: 03-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M DAYASAGAR
• Section: 271(1)(c); 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 1633 /HYD/20 18 (ASSESSMENT YEAR : 20 13 - 14 ) M/S. RADICAL BIO ORGANICS LIMITED, R.R. DISTRICT - 501144 PAN AAECR 6026Q ..APPELLANT. VS. INCOME TAX OFFICER, WARD 3(2), HYDERABAD. ..RESPONDENT. APPELLANT BY : NONE. RESPONDENT BY : SHRI M. DAYASAGAR. (D.R.) DATE OF HEARING : 24.05. 2021. DATE OF PRONOUNCEMENT : 01 .0 7 .2021. O R D E R PER SHRI S.S. GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.2013 - 14 ARISES FROM THE CIT(A) - 3 , HYDERABADS ORDER DATED 24.08.2017 PASSED IN CASE NO. 0533 /ITO 3 (2)/ HYD/ CIT(A) - 3 / 16 - 17 , INVOLVING 2 ITA NO. 1633/HYD/2018 PROCEEDINGS U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. 2. WE NOW ADVERT TO THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALL ENGING CORRECTNESS OF BOTH THE LOWER AUTHORITIES ACTION IMPOSING SECTION 271(1)(C) PENALTY OF RS. 2 ,22, 08,925 / - IN ASSESSING OFFICERS PENALTY ORDER DT. 23.02.2016 AS UPHELD IN THE CIT(A)S LOWER APPELLATE ORDER. 3. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DISPUTE AT THE OUTSET THAT THE ASSESSING OFFICERS PENALTY SHOW CAUSE NOTICE DT.2 3.02.2016 NOWHERE SPECIFIED AS TO WHETHER THE ASSESSEE HAD CONCEALED P ARTICULARS OF HIS TAXABLE INCOME OR FURNISHED INACCURATE PARTICULARS OF SUCH AN INCOME AS CONTEMPLATED U/S. 271(1)(C) OF THE ACT. HON'BLE JURISDICTIONAL HIGH COURTS DECISION PR.CIT VS. BAISETTY REVATHI [398 ITR 88] (TELANGANA & AP) HOLDS THAT - SUCH A FAI LURE RENDERS PENAL ACTION AS NOT SUSTAINABLE IN LAW. THE VERY LEGAL PREPOSITION ALSO STANDS REITERATED IN MOHD.FARHAN A.SHAIKH VS. DCIT (2021) [125 TAXMANN.COM 3 ITA NO. 1633/HYD/2018 253] (BOM) (FB) AS WELL. WE THEREFORE DELETE THE IMPUGNED PENALTY ON THIS PRECISE LEGAL ISSUE AL ONE. 4. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 1S T JU LY , 2021. SD/ - SD/ - (L .P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 01 .0 7 .2021. * REDDY GP COPY TO : 1. M/S. RADICAL BIO ORGANICS LIMITED, SY.NO.36 3484 JAKKEPALLY YALAL MANDAL, TANDUR VIKARABAD. 2. ITO, WARD 3(2), HYDERABAD. 3. PR. C I T - 3 , HYDERABAD. 4. CIT(APPEALS) - 3, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD. 4 ITA NO. 1633/HYD/2018