M/s. Mono Steel (India) Ltd., Bhavnagar V. ACIT Circle-2(1)(2), Ahmedabad

ITA 1634/AHD/2018

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 2325 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-12-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 06-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: MSPOONAMNARAM
• Keywords: Tax effect
• Section: 271(1)(c)

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL, A BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND MSMADHUMITA ROY,JUDICIAL MEMBER ./ ITA NO.1634/AHD/2018 & / ASSTT. YEAR:2010-2011 M/S.MONO STEEL (INDIA) LTD. , C/O. VIJAYKUMAR& CO., SAKAR BAZAR, DANAPITH,, BHAVNAGAR-364001. PAN: AADCM3137C VS. A.C.I.T. , CIRCLE-2(1)(2), AHMEDABAD ( APPLICANT ) ( RESPONENT ) ASSESSEE BY : MSPOONAMNARAM , A.R REVENUE BY : SHRI SATISH SOLANKI , SR. DR / DATE OF HEARING : 27/09/2019 / DATE OF PRONOUNCEMENT: 06/12/2019 *+/ O R D E R PER MS MADHUMITA ROY, JUDICIAL MEMBER: THE INSTANT APPEAL AT THE INSTANCE OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 09.05.2018, PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-6, AHMEDABAD, ( IN SHORT LD.CIT(A) ) ARISING OUT OF THE ORDER DATED 01.12.2015 PASSED BY THE ASSISTANT COM MISSIONER OF INCOME TAXUNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1 961(HEREIN AFTER REFERRED TO AS THE ACT)FOR THE ASSESSMENT YEAR 2010-2011. 2. AT THE TIME OF HEARING OF THE INSTANT APPEAL THE LD. COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED BEFORE US THAT THE ASSES SMENT WAS FINALIZED ON 11.02.2013 BY MAKING ADDITION ON ACCOUNT OF APPORTI ONMENT OF EXPENDITURE ITA NO.1634/AHD/2018 A.Y.2010-2011 2 BETWEEN POWER PLANT AND SPONGE IRON UNIT AMOUNTING TO RS.45,16,004/- WHICH WAS IN TURN DELETED BY THE ''LD.CIT (A)''. THE REVENUE THOUGH PREFERRED APPEAL AGAINST THE SA ID ORDER BEFORE THE HONBLE ITAT THE SAME WAS DISMISSED DUE TO LOW TAX EFFECT BY AND UNDER THE ORDER DATED 08.03.2018 IN ITA NO.2466/AHD/2014 FOR A.Y. 2010-11 BY THE HONBLE CO-ORDINATE BENCH; THE COPY WHEREOF HAS ALS O BEEN ANNEXED TO THE PAPER BOOK SUBMITTED BEFORE US BY THE ASSESSEE. IN THAT VIEW OF THE MATTER THE PENALTY IMPOSED BY THE ACIT, CIRCLE-2(1)(2), AHMEDA BAD, BY AND UNDER ITS ORDER DATED 01.12.2015 U/S.271(1)(C) OF THE ACT HAS BECOME INFRUCTUOUS. HAVING REGARD TO THE ABOVE FACTS WE DO FIND THE PE NALTY APPEAL RENDERS INFRUCTUOUS. HENCE, THE APPEAL PREFERRED BY THE ASS ESSEE IS DISMISSED AS INFRUCTUOUS. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS INFRUCTUOUS. ORDER PRONOUNCED IN THE COURT ON 06/12/2019AT AHMEDABAD. SD/- SD/- ( WASEEM AHMED ) ACCOUTANT MEMBER ( MS MADHUMITA ROY ) JUDICIAL MEMBER AHMEDABAD; DATED 06/12/2019 TANMAY, SR. PS TRUE COPY *+ , -./0 1*0. / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ! / CONCERNED CIT 4. ! ( ) / THE CIT(A) 5. $%& '' , / DR, ITAT, 6. &)* + / GUARD FILE. *+ 2 3 / BY ORDER, 4/3 56 ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD