Shri Arpit Sureshchandra Desai, Surat V. DCIT, Central Circle-3, Surat

ITA 1722/AHD/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2136 (ITAT-SURAT)
• Duration Of Justice: 2 year(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 11-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S R MEENA
• Assessee Lawyers: RASESH SHAH
• Keywords: Set aside
• Section: 69A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH : SURAT BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER ITA.NO.1722/AHD/2017 ASSESSMENT YEAR 2013-2014 SHRI ARPIT SURESHCHANDRA DESAI, 101, VISHAL APARTMENT, NEAR JAMNA NAGAR BUS STAND, GHOD DOD ROAD, SURAT 395 007. PAN ADTPD0584G VS. THE DCIT, CENTRAL CIRCLE-3, SURAT. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI RASESH SHAH, C.A. FOR REVENUE : SHRI S.R. MEENA, SR. D.R. DATE OF HEARING : 26.07.2019 DATE OF PRONOUNCEMENT : 26.07.2019 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-4, SURAT, DATED 22.05.2017, FOR THE A.Y. 2013-2014, CHALLENGING THE LEVY OF PENALTY UNDER SECTION 271AAB OF THE I.T. ACT, 1961. 2 ITA.NO.1722/AHD/2017 SHRI ARPIT SURESHCHANDRA DESAI, SURAT. 2. WE HAVE HEARD THE LEARNED REPRESENTATIVES OF BOTH THE PARTIES. IT IS POINTED OUT THAT THE LD. CIT(A) CONFIRMED THE PENALTY UNDER THE ABOVE PROVISION ON AN ADDITION OF RS.7,57,283/- ON ACCOUNT OF UNEXPLAINED MONEY UNDER SECTION 69A OF THE I.T. ACT, 1961. LEARNED COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMITTED THAT THE ADDITION OF RS.7,57,283/- ON ACCOUNT OF UNEXPLAINED MONEY UNDER SECTION 69A HAVE BEEN DELETED BY ITAT, SURAT BENCH IN ITA.NO.418/2016 FOR ASSESSMENT YEAR UNDER APPEAL VIDE ORDER DATED 12.09.2017. SINCE THE ADDITION ON WHICH PENALTY HAVE BEEN IMPOSED HAVE BEEN DELETED BY THE ITAT, THEREFORE, NOTHING SURVIVE IN FAVOUR OF REVENUE SO AS TO LEVY THE PENALTY AGAINST THE ASSESSEE. IN THIS VIEW OF THE MATTER, WE SET ASIDE THE ORDERS OF THE AUTHORITIES BELOW AND CANCEL THE PENALTY. 3. IN THE RESULT, APPEAL OF ASSESSEE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (O.P.MEENA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER SURAT, DATED 26 TH JULY, 2019 3 ITA.NO.1722/AHD/2017 SHRI ARPIT SURESHCHANDRA DESAI, SURAT. VBP/- COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT, SURAT BENCH, SURAT 6. GUARD FILE. //BY ORDER// ASST. REGISTRAR, ITAT, SURAT BENCH SURAT.