Income-tax Officer, V. M/s. G. K. Associates, Pune

ITA 1839/PUN/2013

• Counselvise Citation: 183924514 RSA 2013
• Duration Of Justice: 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 11-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: V L JAIN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER AND SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA NO.1839/PN/2013 (A.Y:2007-08) ITO, WARD-3(1), PUNE APPELLANT VS. M/S. G.K. ASSOCIATES 1204/26, SHIVAJINAGAR PUNE 411004 PAN: AAFPG4726Q RESPONDENT APPELLANT BY : SHRI RAJESH DAMOR RESPONDENT BY : SHRI V.L. JAIN DATE OF HEARING : 23.09.2014 DATE OF PRONOUNCEMENT : 23.09.2014 ORDER PER SHAILENDRA KUMAR YADAV : THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST O RDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, PUNE DATED 30.04.2013 FOR A.Y. 2007-08 ON THE FOLLOWING GROUNDS. 1. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) ER RED IN DELETING THE PENALTY U/S 271(1)(C) WITHOUT EXAMI NING THE FACTS & EVIDENCES AVAILABLE ON RECORDS AND BROUGHT OUT BY THE ASSESSING OFFICER IN THE PENALTY ORDER IN SUPPO RT OF LEVY OF PENALTY U/S 271(1)(C) OF THE ACT. 2. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) ER RED IN DELETING THE PENALTY LEVIED WITHOUT APPRECIATING TH E FACT THAT THE ASSESSEE HAD VIOLATED THE CONDITIONS STIPU LATED U/S. 80IB(10)(A)(I) OF THE ACT AND IT WAS WELL WITH IN THE KNOWLEDGE OF THE ASSESSEE THAT THE PROJECT 'BHANSAL I CAMPUS' WAS NOT COMPLETED BY 31.03.2008 AND THUS HA D CONCEALED THE INCOME BY FURNISHING INACCURATE PARTI CULARS OF INCOME. ITA NO.1839/PN/13 M/S. G.K. ASSOCIATES 3. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) ER RED IN NOT CONSIDERING THE FACT THAT BUILDING E WAS NOT A SEPARATE PROJECT AS THE COMMENCEMENT CERTIFICATE & THE COM PLETION CERTIFICATE HAD BEEN ISSUED FOR THE PROJECT ' BHANSALI CAMPUS' AS A WHOLE AND NOT INDIVIDUALLY TO ANY BUIL DING AND IT WAS WELL WITHIN THE KNOWLEDGE OF THE ASSESSE E THAT THE PROJECT WAS NOT COMPLETED BY 31.03.2008 AND HAD THUS CONCEALED THE INCOME. 4. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) ER RED IN DELETING THE PENALTY WHEN THE ASSESSEE HAD CLAIMED WRONG DEDUCTION U/S.80IB(10) OF THE I.T. ACT, 1961 AND HA D THEREBY ATTEMPTED TO EVADE TAX BY FURNISHING INACCU RATE PARTICULARS OF INCOME. 5. THE APPELLANT CRAVES LEAVE TO ADD, ALTER OR AMEND A NY OR ALL THE GROUNDS OF APPEAL. 2. AT THE OUTSET OF HEARING, THE LEARNED AUTHORIZED REPRESENTATIVE HAS SUBMITTED THAT THE CIT(A) HAS DE LETED THE PENALTY LEVIED BY THE ASSESSING OFFICER BASED ON TH E ORDER OF ITAT IN ITA NO.1137/PN/2010, DATED 04.03.2013 IN QUANTUM PROCEEDINGS. IN THIS BACKGROUND, THE CIT(A) HAS OB SERVED THAT SINCE THE QUANTUM ADDITION / DISALLOWANCE IN RESPEC T OF WHICH THE IMPUGNED PENALTY HAS BEEN IMPOSED, HAVE BEEN DELETE D BY THE TRIBUNAL AS DISCUSSED ABOVE, THE VERY BASIS FOR IMP OSITION OF PENALTY NO LONGER SURVIVE. ACCORDINGLY, THE CIT(A) HAS DIRECTED THE ASSESSING OFFICER TO DELETE THE PENALTY IN QUESTION OF RS.85,07,142/-. THIS REASONED FACTUAL AND LEGAL FI NDING OF CIT(A) NEEDS NO INTERFERENCE FROM OUR SIDE. WE UPHOLD THE SAME. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. PRONOUNCED IN THE OPEN COURT ON THIS THE 23 RD DAY OF SEPTEMBER, 2014. SD/- SD/- (R.K. PANDA) (SHAILENDRA KUMAR YADAV ) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED THE 23 RD SEPTEMBER, 2014 GCVSR ITA NO.1839/PN/13 M/S. G.K. ASSOCIATES COPY TO:- 1) ASSESSEE 2) THE DEPARTMENT 3) THE CIT(A)-II, PUNE 4) THE CIT-II, PUNE 5) THE DR, A BENCH, I.T.A.T., PUNE. 6) GUARD FILE BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, PUNE.