Prem Conductors Pvt.Ltd., Ahmedabad V. The ACIT (OSD),Circle-5, Ahmedabad

ITA 1945/AHD/2013

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 9026 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-03-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 08-03-2017
• Assessment Year: 2004-2005
• Appeal Filed On: 15-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIJAY RANJAN WITH IRA KAPPOR
• Section: 143(3); 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI S. S. GODARA, JUDICIAL MEMBER) ITA. NOS: 1945 & 1946/AHD/2013 (ASSESSMENT YEARS: 2004-05 & 2005-06) PREM CONDUCTORS PVT. LTD. N-12, UPPER GROUND SAPAN COMPLEX NR. A.K. PATEL HOUSE MITHAKHALI, AHMEDABAD V/S ACIT (OSD) CIRCLE-5, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AABCP7700A APPELLANT BY: SHRI VIJAY RANJAN WITH IRA KAPPOR, A.R. RESPONDENT BY : SHRI JAMESH KURIAN, SR. D.R. ( )/ ORDER DATE OF HEARING : 08 -03-201 7 DATE OF PRONOUNCEMENT : 10 -03-2017 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. ITA NOS. 1945 & 1946/AHD/2013 ARE APPEALS BY THE AS SESSEE PREFERRED AGAINST TWO SEPARATE ORDERS OF THE LD. CIT(A)-II, A HMEDABAD DATED 23.05.2013 & 22.05.2013 PERTAINING TO A.YS. 2004-05 & 2005-06. ITA NOS. 194 5 & 1946/AHD/2013 . A.YS. 2004- 05 & 2005-06 2 2. IN BOTH THE APPEALS THE GRIEVANCE OF THE ASSESSEE I S IDENTICAL RELATING TO THE IDENTICAL SET OF FACTS, THEREFORE, THESE APPEALS WE RE HEARD TOGETHER AND ARE DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CO NVENIENCE. 3. THE COMMON GRIEVANCE IN THE IMPUGNED APPEALS RELATE TO THE LEVY OF PENALTY U/S. 271(1)(C) OF THE ACT, THOUGH QUANTUM M AY DIFFER. 4. THE ROOTS FOR THE LEVY OF PENALTY LIE IN THE ASSESS MENT ORDER DATED 04.12.2009 MADE U/S. 143(3) R.W.S. 147 OF THE ACT. 5. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASSESSE E STATED THAT LD. CIT(A)HAD DIRECTED THE A.O. TO VERIFY CERTAIN DETAILS RELATIN G TO THE CLAIM OF DEDUCTION U/S. 80IB OF THE ACT IN RESPECT OF CERTAIN INCOME. FOLLOWING INCOMES NEEDED VERIFICATION FOR THE ELIGIBILITY OF THE CLAIM OF DE DUCTION: (I) INTEREST INCOME (II) REBATE AND CLAIM (III) EXCISE REFUND ON FREIGHT 6. WE HAVE CAREFULLY PERUSED THE ORDER OF THE TRIBUNA L IN ITA NOS. 3374 & 3375/AHD/2010 AND 1239/AHD/2011 WITH C.O. NO. 129/A HD/2011. WE HAVE ALSO GONE THROUGH THE ORDERS GIVING APPEAL EFFECT. WE FIND WHILE GIVING THE APPEAL EFFECT, THE A.O. HAS ACCEPTED THE CLAIM OF T HE ASSESSEE. THEREFORE, IN OUR CONSIDERED OPINION AND ON UNDERSTATING OF THE F ACTS, THERE REMAINS NO REASON FOR THE LEVY OF THE IMPUGNED PENALTY. WE, AC CORDINGLY, SET ASIDE THE ITA NOS. 194 5 & 1946/AHD/2013 . A.YS. 2004- 05 & 2005-06 3 FINDINGS OF THE LD. CIT(A) AND DIRECT THE A.O. TO D ELETE THE PENALTY SO LEVIED U/S. 271(1)(C) OF THE ACT. 7. BOTH THE APPEALS ARE ACCORDINGLY ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 10 - 03- 20 17 SD/- SD/- (S. S. GODARA) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY ACCOUNTANT MEMBER AHMEDABAD: DATED 10 /03/2017 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD