The ITO, Ward-2(6), Baroda V. M/s. Saket Corporation, Baroda

ITA 1681/AHD/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8709 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-08-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 15-06-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 29-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V K SINGH
• Assessee Lawyers: S N SOPARKAR
• Section: 143(3)

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ./ ITA NO. 1681/AHD/2014 / ASSESSMENT YEAR: 2007-08 INCOME-TAX OFFICER, WARD-2(6), BARODA VS. M/S. SAKET CORPORATION, A/25-116 KRISNA INDUSTRIAL ESTATE, BIDC, GORWA, BORODA PAN : ABDFS 9216 Q / (APPELLANT) / (RESPONDENT) REVENUE BY : SHRI V.K. SINGH, SR DR ASSESSEE BY : SHRI S.N. SOPARKAR, AR ' / DATE OF HEARING : 15/06/2017 / DATE OF PRONOUNCEMENT: 01/08/2017 / O R D E R PER RAJPAL YADAV, JUDICIAL MEMBER: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS)-II, BA RODA DATED 07.02.2014 FOR ASSESSMENT YEAR 2007-08. 2. THE ONLY EFFECTIVE GROUND RAISED IN THIS APPEAL IS WHETHER THE CIT(A) IS JUSTIFIED IN DELETING THE PENALTY OF RS.18,11,91 0/- U/S 271(1)(C) OF THE INCOME-TAX ACT, 1961 (HEREIN AFTER REFERRED TO AS T HE THE ACT). 3. BRIEFLY STATED FACTS ARE THAT FOR THE YEAR UNDER CONSIDERATION THE ASSESSMENT U/S 143(3) OF THE ACT WAS COMPLETED VIDE ORDER DATED 29.12.2009, MAKING ADDITION OF RS.53,82,915/- UNDE R SECTION 80IB(10) OF THE ACT. ON FURTHER APPEAL, THE LD. CIT(A) HAS UPHELD THE ACTION OF THE ASSESSING OFFICER VIDE HIS ORDER DATED 26.08.2010 A ND CONFIRMED THE ABOVE ADDITION MADE BY THE ASSESSING OFFICER. ITA NO. 1681/AHD/2014 ITO VS. SAKET CORPORATION FOR AY: 2007-08 2 4. SUBSEQUENT TO THE LD. CIT(A)S AFORESAID ORDER C ONFIRMING THE ADDITION MADE BY THE ASSESSING OFFICER, PENALTY U/S 271(1)(C) OF THE ACT WAS COMPLETED VIDE ORDER DATED 27.03.2012, IMPOSING A P ENALTY OF RS.18,11,907/- BEING THE 100% OF THE TAX SOUGHT TO BE EVADED. ON FURTHER APPEAL, THE IMPUGNED PENALTY ORDER WAS CANCELLED BY THE CIT(A) VIDE ORDER DATED 07.02.2014. THE REVENUE, BEING AGGRIEVED, IS IN APP EAL BEFORE THE TRIBUNAL. 5. AT THE TIME OF HEARING BEFORE US, IT WAS POINTED OUT BY THE LD. COUNSEL THAT, IN THE QUANTUM APPEAL, THE TRIBUNAL HAS DELET ED THE QUANTUM ADDITION VIDE ORDER DATED 14.08.2014 IN ITA NO.3377/AHD/2010 - COPY OF THE ORDER IS PLACED ON RECORD. WHEN THE TRIBUNAL HAS ALREADY DELETED THE QUANTUM ADDITION IN QUESTION, THE PENALTY MADE IN RESPECT O F SUCH ADDITION CANNOT SURVIVE. WE, THEREFORE, DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LD. CIT(A) WHICH IS UPHELD AND THE REVENUES AP PEAL IS THUS DISMISSED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE COURT ON 1 ST AUGUST, 2017 AT AHMEDABAD. SD/- SD/- (PRADIP KUMAR KEDIA) ACCOUNTANT MEMBER (RAJPAL YADAV) JUDICIAL MEMBER AHMEDABAD; DATED 01/08/2017 BIJU T., SR.PS ' '() *) / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ! # / CONCERNED CIT 4. # ( ) / THE CIT(A) 5. & ! , ! , / DR, ITAT, AHMEDABAD 6. / GUARD FILE . / BY ORDER, TRUE COPY / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD