P IIen Goud , Hyderabad V. Income Tax Officer, Ward-7(2), Hyderabad

ITA 199/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5801 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-04-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Assessment Year: 2005-2006
• Appeal Filed On: 13-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P MURALI MOHANA RAO
• Section: 271(1)(c); 68; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 199/HYD/2019 ASSESSMENT YEAR: 2005-06 P.ILEN GOUD, HYDERABAD [PAN: AGIPP1597K] VS ITO, WARD-7(2), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI P.MURALI MOHANA RAO, AR FOR REVENUE : SHRI SUNIL KUMAR PANDEY, DR DATE OF HEARING : 23-02-2021 DATE OF PRONOUNCEMENT : 27-04-2021 O R D E R PER S.S.GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.2005-06 ARISES FROM TH E CIT(A)-10, HYDERABADS ORDER DATED 24-10-2018 PASSED IN CASE NO.0276/CIT(A)-10/2015-16, ORDER U/S.271(1)(C) OF TH E INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. COMING TO THE ASSESSEES SOLE SUBSTANTIVE OF CORREC TNESS OF SECTION 271(1)(C) PENALTY OF RS.3,75,982/- IMPOSE D IN BOTH THE LOWER PROCEEDINGS, IT IS NOTICED AT THE OUTSET THAT THE S AME PERTAINS TO QUANTUM ENHANCEMENT OF RS.12,67,000/- IN TH E CORRESPONDING ORDER DT.04-04-2018 REGARDING THE ISSU E OF ITA NO. 199/HYD/2019 :- 2 -: SECTION 68 ADDITION OF UN-EXPLAINED CASH CREDITS. C ASE FILE SUGGESTS THAT THIS QUANTUM ADDITION ITSELF STANDS DELETED IN ASSESSEES QUANTUM APPEAL ITA NO.197/HYD/2020 DECID ED ON 15-02-2021. THE IMPUGNED PENALTY HAS NO LEGS TO STAN D THEREFORE. THE SAME IS DIRECTED TO BE DELETED. 3. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH APRIL, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 27-04-2021 TNMM ITA NO. 199/HYD/2019 :- 3 -: COPY TO : 1.SHRI P.ILEN GOUD, C/O. P.MURALI & CO., CHARTERED ACCOUNTANTS, 6-3-655/2/3, 1 ST FLOOR, SOMAJIGUDA, HYDERABAD. 2.THE INCOME TAX OFFICER, WARD-7(2), HYDERABAD. 3.CIT(APPEALS)-10, HYDERABAD. 4.PR.CIT-3, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.