Ambuja Ginning Pressing & Oil Co. P. Ltd., Bhavnagar V. The Income Tax Officer, Ward-1(2), Bhavnagar

ITA 1850/AHD/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4761 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-10-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 14-04-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 28-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: L P JAIN
• Keywords: Income from undisclosed sources; Set aside
• Section: 271(1)(c); 69B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AMBUJA GINNING PRESSING & OIL CO. P. LTD. PALITANA ROAD, TALUKA TALAJA, DIST: BHAVNAGAR-364140 PAN: AABCA7985Q (APPELLANT) VS THE ITO, BHAVNAGAR (RESPONDENT) REVENUE BY: SHRI L.P. JAIN, SR. D.R. ASSESSEE BY: SHRI SAKAR SHARMA, A.R . DATE OF HEARING : 09-09-2020 DATE OF PRONOUNCEMENT : 07-10-2020 /ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- THIS ASSESSEES APPEAL FOR A.Y. 2012-13, ARISES FRO M ORDER OF THE CIT(A)-6, AHMEDABAD DATED 06-07-2018, IN PROCEEDINGS UNDER SE CTION 271(1)(C) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE SOLITARY GROUND OF APPEAL OF THE ASSESSEE IS FILED AGAINST THE ORDER OF LD. CIT(A) IN CONFIRMING THE ACTION OF ASSESSING OFFICE R IN LEVYING PENALTY U/S. 271(1)(C) OF RS. 17,92,000/- ON ACCOUNT OF NON-DIS CLOSURE OF ADDITIONAL INCOME FOR EXCESS STOCK NOTICED IN THE COURSE OF SURVEY AC TION U/S. 69B OF THE ACT. ITA NO. 1850/AHD/2018 ASSESSMENT YEAR 2012-13 I.T.A NO. 1850/AHD/2018 A.Y. 2012-13 PAGE NO AMBUJA GINNING PRESSING & OIL CO. P. LTD. VS. ITO 2 3. DURING THE COURSE OF APPELLATE PROCEEDINGS BEFO RE US, THE LD. COUNSEL HAS BROUGHT TO OUR NOTICE THAT THE QUANTUM ADDITION ON THE BASIS OF WHICH THE IMPUGNED PENALTY WAS LEVIED HAD BEEN ADJUDICATED BY THE ITAT VIDE ITA NO. 3618/AHD/2015 ORDER DATED 04-10-2018 AND THE ADDITI ON ON ACCOUNT OF UNACCOUNTED INCOME ON THE BASIS OF WHICH THE PENALT Y WAS LEVIED WAS RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR RE-ADJUDICATI ON. THE LD. DEPARTMENTAL REPRESENTATIVE WAS FAIR ENOUGH NOT TO CONTROVERT TH ESE FACTS. CONSIDERING THE ABOVE FACTS AND THE ORDER OF THE CO-ORDINATE BENCH OF THE ITAT VIDE WHICH THE QUANTUM ADDITION WAS SET ASIDE TO THE FILE OF ASSES SING OFFICER FOR DECIDING THE ISSUE AFRESH , WE RESTORE THIS ISSUE ALSO TO THE FI LE OF ASSESSING OFFICER FOR DECIDING AFRESH ON THE BASIS OF SET ASIDE PROCEEDINGS ON QUA NTUM ADDITION. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 07-10-2020 SD/- SD/- (RAJPAL YADAV) (AMARJIT SINGH) VICE PRESIDENT ACCOUNTANT MEMBER AHMEDABAD : DATED 07/10/2020 / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,