Shri Arun Agrwal, Jamshedpur V. DCIT CENTRAL CIRCLE-2 , JAMSHEDPUR

ITA 193/RAN/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 9672 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 05-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 17-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P K MONDAL J

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 193 / RAN / 2017 ASSESSMENT YEAR :2013-14 SHRI ARUN AGARWAL ARUNODAYA, SUNDERNAGAR, JAMSHEDPUR-832107 [ PAN NO.AAYPA 3161 G ] V/S . DCIT, CENTRAL CIRCLE- 2, RANCHI /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI DEVESH PODDAR, ADVOCATE /BY RESPONDENT SHRI P.K. MONDAL, JCIT-DR /DATE OF HEARING 07-01-2019 /DATE OF PRONOUNCEMENT 11-01-2019 / O R D E R PER BENCH:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2013-14 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-3 PATNAS ORDER DATED 31.07.2017 PASSED IN CASE NO.143/CIT(A)-3/PAT/15-16 INVOLVING PROCEEDINGS U/S 271AAB OF THE INCOME TAX ACT, 1961; IN SHORT THE A CT. HEARD BOTH THE PARTIES. CASE FILE PERUSED 2. THE ASSESSEES THREE SUBSTANTIVE GROUNDS RAISED IN THE INSTANT APPEAL CHALLENGES BOTH THE LOWER AUTHORITIES ACTION IMPOS ING SEC 271AAB PENALTY OF RS.11,26,500/-. WE SOUGHT TO KNOW DURING THE COURSE OF HEARING AS TO WHETHER THE IMPUGNED PENALTY IS BASED ON ANY SPECIFIED MATE RIAL PRESCRIBED IN U/S 271AAB EXPLANATION CLAUSE (C) OF THE ACT OR NOT. LE ARNED DEPARTMENTAL ITA NO.193/RAN/2017 A.Y. 2013-14 SH ARUN AGARWAL VS. DCIT CC-2, RANCHI PAGE 2 REPRESENTATIVE FAILS TO INDICATE THAT THE AUTHORIZE D OFFICER OR THE ASSESSING OFFICER HAVE REFERRED TO SPECIFIED CATEGORY OF ASSE TS IN THE NATURE OF ANY MONEY, BULLION, JEWELLERY OR VALUABLE ARTICLES OR T HING OR ANY ENTRY IN THE BOOKS OF ACCOUNT OR OTHER DOCUMENTS OR TRANSACTIONS. HIS ONLY CASE IS THAT THE SAME IS BASED ON ASSESSEES DISCLOSURE DURING THE COURSE OF SEARCH IN QUESTION DATED 21.12.2012. WE OBSERVE IN THESE FACTS AND CIR CUMSTANCES THAT WE ARE DEALING WITH A PENALTY PROVISION IN A TAX STATUTE T O BE STRICTLY INTERPRETED. WE THEREFORE HOLD THAT BOTH THE LOWER AUTHORITIES HAV E ERRED IN IMPOSING THE IMPUGNED PENALTY IN ASSESSEES CASE TO THE TUNE OF RS.11,26,500/-. THE SAME ACCORDINGLY STANDS DELETED. 3. THIS ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT 11 /01/2019 SD/- SD/- ( ) ('# ) (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) RANCHI, *DKP $- 11/01 /2019 RANCHI / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SHRI ARUN AGARWAL, ARUNODAYA, SUNDERNAGA R, JAMSHEDPUR-832107 2. /RESPONDENT-DCIT, CENTRAL CIRCLE-2, RANCHI 3. 0 3 / CONCERNED CIT RANCHI 4. 3- / CIT (A) RANCHI 5. 6 ##0, 0, / DR, ITAT, RANCHI 6. < / GUARD FILE. BY ORDER/ , /TRUE COPY/ SR.PS, I TAT, RANCHI