M/s. Kayrpee Vanijya Pvt. Ltd., Baroda V. The ACIT, 1(2), Vadodara

ITA 1822/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8646 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-09-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2002-2003
• Appeal Filed On: 18-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD , , BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER ./ I.T.A. NO.1822/AHD/2015 ( / ASSESSMENT YEAR : 2002-03) M/S.KAYRPEE VANIJYA PVT.LTD. SYNERGY HOUSE II GORWA SUBHANPURA ROAD BARODA 390 016 / VS. ASST.CIT CIRCLE-1(2) VADODARA # ./ ./ PAN/GIR NO. : AAACK 8161 H ( #& / APPELLANT ) .. ( '#& / RESPONDENT ) #&( / APPELLANT BY : WRITTEN SUBMISSION '#& )( / RESPONDENT BY : SHRI DINESH SINGH, SR.DR *+ ), / DATE OF HEARING 06/09/2017 -./0 ), / DATE OF PRONOUNCEMENT 08/ 09 /2017 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-1, VADOD ARA [CIT(A) IN SHORT] DATED 28/04/2015 FOR THE ASSESSMENT YEAR (AY) 2002-03. ITA NO.1822/AHD /2015 M/S. KAYRPEE VANIJYA PVT.LTD. VS. ACIT ASST.YEAR 2002-03 - 2 - 2. IN THE CAPTIONED APPEAL, THE ASSESSEE IS AG GRIEVED BY THE ORDER OF THE CIT(A) WHEREBY THE PENALTY UNDER S.271(1)(C) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS 'THE ACT') AM OUNTING TO RS.3,52,550/- BY THE ASSESSING OFFICER (AO) WAS CO NFIRMED BY THE CIT(A). 3. ASSESSEE FILED A WRITTEN SUBMISSION DATED 5 TH SEPTEMBER-2017 AND SUBMITTED THAT QUANTUM ADDITIONS/DISALLOWANCES GIVI NG RISE TO PENALTY UNDER S.271(1)(C) OF THE ACT HAS BEEN DELETED BY TH E ITAT IN QUANTUM PROCEEDINGS IN ITA NO.1855/AHD/2012 ORDER DATED 27/ 07/2016. IN THE LIGHT OF SUBMISSIONS MADE, WE FIND THAT THE ADDITI ON/DISALLOWANCE MADE IN THE QUANTUM ASSESSMENT GIVING RISE TO THE IMPOSI TION OF PENALTY IN APPEAL HAS BEEN REVERSED BY THE TRIBUNAL. THUS IN VIEW OF THE FACT THAT THE QUANTUM ADDITION/DISALLOWANCE ITSELF HAS BEEN D ELETED, THE VERY BASIS FOR IMPOSITION OF PENALTY UNDER S.271(1)(C) OF THE ACT CEASES TO EXIST AND DOES NOT SURVIVE ANY MORE. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS AL LOWED. THIS ORDER PRONOUNCED IN OPEN COURT ON 08/ 09 /2017 SD/- SD/- ( ) ( ) ( MAHAVIR PRASAD ) ( PRADIP KUMAR KEDIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD; DATED 08/ 09 /2017 4..*,.*../ T.C. NAIR, SR. PS