Exponential Technologies ( Software and Hardware) Private Limited, , Hyderabad V. Income Tax Officer, Ward-17(2), Hyderabad

ITA 1989/Hyd/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8136 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 8 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 20-08-2020
• Assessment Year: 2011-2012
• Appeal Filed On: 01-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NILANJAN DEY
• Assessee Lawyers: P MURALI MOHANA RAO
• Keywords: Set aside
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. A.Y. APPELLANT RESPONDENT 1989/HYD/17 2011-12 M/S.EXPOTENTITAL TECHNOLOGIES (SOFTWARE AND HARDWARE) PVT. LTD., HYDERABAD [PAN: AABCE7729C] ITO, WARD-17(2), HYDERABAD 1990/HYD/17 2012-13 FOR ASSESSEE : SHRI P. MURALI MOHANA RAO, AR FOR REVENUE : SHRI NILANJAN DEY, DR DATE OF HEARING : 20-08-2020 DATE OF PRONOUNCEMENT : 21-08-2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. : BOTH ARE ASSESSEES APPEALS FOR THE AYS.2011-12 & 20 12- 13 RESPECTIVELY, DIRECTED AGAINST THE SEPARATE ORDERS O F THE COMMISSIONER OF INCOME TAX (APPEALS)-5, HYDERABAD D ATED 22- 07-2016 FOR BOTH THE ASSESSMENT YEARS. THE CIT(A) HAD CONFIRMED THE PENALTY LEVIED U/S.271(1)(C) OF THE INC OME TAX ACT [ACT] AND THE ASSESSEE IS IN APPEAL AGAINST THE ORDE RS OF THE CIT(A). 2. BOTH THESE APPEALS ARE TAKEN UP FOR HEARING ON 20- 08- 2020 THROUGH VIDEO CONFERENCING AND BOTH THE PARTIES WE RE HEARD. ITA NOS. 1989 & 1990/HYD/2017 :- 2 -: 3. LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE QUANTUM APPEALS HAD COME UP FOR ADJUDICATION BEFORE THE TRIBU NAL IN ITA NOS.303 & 304/HYD/2016, AYS.2011-12 & 2012-13 A ND THIS TRIBUNAL VIDE ORDER DT.20-06-2018, HAD REMANDED THE ISSUE TO THE FILE OF AO FOR DENOVO VERIFICATION OF THE ANNUAL REPORTS AND CONSIDERATION OF THE ISSUE IN ACCORDANCE WITH LAW. A COPY OF THE SAID ORDER IS FILED BEFORE US. THEREFO RE, HE SUBMITTED THAT CONSEQUENTLY, THE PENALTY ORDERS MAY ALSO BE SET ASIDE TO THE FILE OF AO. 4. LD.DR HAD NO OBJECTION TO THE SAID CONTENTION OF THE ASSESSEE. 5. HAVING REGARD TO THE RIVAL CONTENTIONS AND MATERIAL ON RECORD AND ALSO PARTICULARLY THE FACT THAT THE ASSESSEE S APPEALS AGAINST QUANTUM ADDITIONS HAVE BEEN SET ASIDE TO THE FILE OF AO FOR DENOVO CONSIDERATION, WE DEEM IT FIT AND PROPER TO SET ASIDE THE PENALTY ORDERS ALSO TO THE FILE OF AO AND DIRECT THE AO TO RE-INITIATE THE PENALTY PROCEEDINGS, IF NECES SARY, AFTER THE COMPLETION OF ASSESSMENT PROCEEDINGS PURSUANT TO THE ORDER OF THE TRIBUNAL, DT.20-06-2018. 6. IN THE RESULT, BOTH THE APPEALS OF ASSESSEE ARE TREATE D AS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 21 ST AUGUST, 2020 SD/- SD/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 21-08-2020 TNMM ITA NOS. 1989 & 1990/HYD/2017 :- 3 -: COPY TO : 1. M/S.EXPOTENTIAL TECHNOLOGIES (SOFTWARE AND HARDW ARE) PVT. LTD., C/O. P. MURALI & CO., CHARTERED ACCOUNTA NTS, 6-3-655/2/3, 1 ST FLOOR, SOMAJIGUDA, HYDERABAD. 2. THE INCOME TAX OFFICER, WARD-17(2), HYDERABAD. 3. CIT(APPEALS)-5, HYDERABAD. 4. THE PR.CIT, HYDERABAD. 5. D.R. ITAT, HYDERABAD. 6. GUARD FILE.