M/s. Godwin Maria Visuvasam, CHENNAI V. ITO, Coimbatore

ITA 1912/CHNY/2013

• Counselvise Citation: [2014] 120 COUNSELVISE.COM (IT) 6301 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-06-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 18-06-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 31-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GURU BHASHYAM
• Assessee Lawyers: S SRIDHAR
• Section: 143(3)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . , . . , ! ' BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER ./ I.T.A.NO.1912/MDS./2013 ( / ASSESSMENT YEAR :2007-08) SHRI A.GODWIN MARIAL VISUVASAM, NO.4/1,KANDASAMY STREET, PULIAKULAM, COIMBATORE 641 045. VS. THE INCOME TAX OFFICER, WARD III(2), COIMBATORE. PAN AEFPV 0151 A ( #$ / APPELLANT ) ( %&#$ / RESPONDENT ) / APPELLANT BY : SHRI S.SRIDHAR, ADVOCATE / RESPONDENT BY : SHRI GURU BHASHYAM, JCI T D.R. / DATE OF HEARING : 18.06.2014 ! /DATE OF PRONOUNCEMENT : .06.2014 ' / O R D E R ITA NO. 1912MDS/13 2 PER A.MOHAN ALANKAMONY , ACCOUNTANT MEMBER: THIS APPEAL IS FILED BY THE ASSESSEE, AGGRIEVED B Y THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX(A)-I,COIMBAT ORE, DATED 19.09.2013 IN ITA NO.07/2012-13 CONFIRMING THE LEVY OF PENALTY FOR ` 7,27,941/- UNDER SECTION 271(1)(C) BY THE LD. ASS ESSING OFFICER. 2. THE ASSESSEE HAS RAISED ELEVEN GROUNDS IN HIS AP PEAL. HOWEVER, THE CRUX OF THE ISSUE IS THAT THE ASSESSEE IS AGGRIEVED BY THE ORDER OF THE LD. CIT (A) WHO HAD SUSTAINED THE PENALTY LEVIED UNDER SEC. 271(1)(C) OF THE ACT. 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSE SSEE IS AN INDIVIDUAL, ENGAGED IN THE BUSINESS OF EXECUTING C IVIL CONTRACT WORKS, FILED HIS RETURN OF INCOME FOR THE ASSESSMEN T YEAR 2007-08 ON 11.10.2007 ADMITTING HIS TOTAL INCOME OF ` 3,05,580/- AND THE SAME WAS PROCESSED U/S. 143(1) OF THE ACT ON 04-0-2009. SUBSEQUENTLY, THE CASE WAS TAKEN FOR SCRUTINY AND THE ASSESSMENT WAS COMPLETED ITA NO. 1912MDS/13 3 UNDER SECTION 143(3) ON 30.12.2009 WHEREIN THE LD. ASSESSING OFFICER MADE ADDITION OF RS.21,50,000/- TREATING TH E LOANS AND ADVANCES AS UN-EXPLAINED CREDITS UNDER THE HEAD INC OME FROM OTHER SOURCES. . IN THE RESULT, THE ORDER PRONOUNCED ON JULY, 2014 AT CHEN NAI. (S.S.GODARA ) (A.MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE JULY, 2014. K S SUNDARAM. COPY TO: ASSESSEE/AO/CIT (A)/CIT/D.R./GUARD FILE