The ACIT,(OSD)Circle-9, Ahmedabad V. Rajarshi Maganlal Parikh, Ahmedabad

ITA 1903/AHD/2011

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 76775 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-05-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 27-05-2014
• Assessment Year: 2005-2006
• Appeal Filed On: 01-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P L KUREEL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: SRI D.K TYAGI, JUDICIAL MEMBER AND SHRI ANIL CHATURVEDI, ACCOUNTAN T MEMBER ACIT (OSD), CIR-9, 2 ND FLOOR, A WING, PRATYAKSH KAR BHAVAN OPP. SAHJANAND COLLEGE, PANJRAPOL AMBAWADI, AHMEDABAD (APPELLANT) VS RAJARSHI MAGANLAL PARIKH, PROP. OF KRISHNA CORPORATION, F-101, NORQUEST HOUSE, OPP. MEDISQURGE HOSPITAL, MITHAKHALI, AHMEDABAD PAN: AFDPP8867L (RESPONDENT) REVENUE BY: SRI P.L. KUREEL, SR.D.R. ASSESSEE BY: NONE DATE OF HEARING : 27-05-2014 DATE OF PRONOUNCEMENT : 30-05-20 14 / ORDER PER : D.K. TYAGI, JUDICIAL MEMBER:- THIS IS THE REVENUES APPEAL AGAINST THE ORDER OF LD. CIT(A)-XV, AHMEDABAD DATED 02-06-2011 DELETING THE PENALTY OF RS.12,25,346/- LEVIED BY AO U/S. 271(1)(C) OF THE ACT. ITA NO. 1903/AHD/2011 ASSESSMENT YEAR 2005-06 I.T.A NO.1903/AHD/2011 A.Y. 2005-06 PAGE NO ACIT VS. RAJARSHI MAGANLAL PARIKH PROP. OF KRISHNA CORPORATION 2 2. BRIEF FACTS OF THE CASE ARE THAT PENALTY OF RS. 12,25,346/- HAS BEEN LEVIED U/S. 271(1)(C) OF THE ACT ON THE SUM OF RS. 36,40,362/- DISALLOWED BY AO U/S. 40(A)(IA) OF THE ACT. THIS DISALLOWANCE WA S MADE AS TDS WAS DEPOSITED IN THE GOVERNMENT ACCOUNT LATE BY ASSESSE E. 3. LD. CIT(A) TREATING THIS A TECHNICAL BREACH OF L AW WAS OF THE VIEW THAT FOR SUCH TECHNICAL BREACH OF LAW, PENALTY U/S. 271( 1)(C) FOR CONCEALMENT OF INCOME OR FOR FILING OF INACCURATE PARTICULARS OF I NCOME WAS NOT LEVIABLE AND SHE THEREFORE DELETED THIS PENALTY. WE FIND NO INF IRMITY IN THE ORDER OF LD. CIT(A) AND THE SAME IS HEREBY UPHELD. 4. IN THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE AT CAPTION PAGE SD/- SD/- (ANIL CHATURVEDI) ( D.K. TYAGI) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 30/05/2014 AK / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,