Mukesh L Nasra, Ahmedabad V. The Dy. Commissioner of Income Tax, International Taxation-I, Ahmedabad

ITA 2050/AHD/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8592 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-04-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 08-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: JIMIT R SHAH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENC H (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI S. S. GODARA, JUDICIAL MEMBER) ITA. NO: 2050/AHD/2016 (ASSESSMENT YEAR: 2012-13) MUKESH L NASRA. 19, MILAN PARK SOCIETY, VASTRAPUR, NEAR SANDESH PRESS AHMEDABAD-380015 V/S THE DEPUTY. COMM. OF INCOME TAX, INTERNATIONAL TAXATION-I, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AGEPN1194J APPELLANT BY : SHRI JIMIT R. SHAH RESPONDENT BY : SHRI SUMIT KUMAR VERMA, SR. D.R. ( )/ ORDER DATE OF HEARING : 05 -04-201 8 DATE OF PRONOUNCEMENT : 09 -04-2018 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. THIS APPEAL BY THE ASSESSEE IS PREFERRED AGAINST TH E ORDER OF THE LD. CIT(A)-13, AHMEDABAD DATED 03.06.2016 PERTAINING TO A.Y. 2012- 13. ITA NO. 2050 /AHD/2016 . A.Y. 2012-13 2 2. THE ONLY GRIEVANCE OF THE ASSESSEE IS THAT THE LD. CIT(A) ERRED IN UPHOLDING THE LEVY OF PENALTY OF RS. 22,954/- U/S. 271(1)(C) OF T HE ACT. 3. BRIEFLY STATED THE FACTS OF THE CASE ARE THAT THE A SSESSEE IS ENGAGED IN THE BUSINESS OF TEXTILES AND GARMENT BUSINESS IN MOSCOW (RUSSIA). THROUGH HIS POWER OF ATTORNEY HOLDER, THE ASSESSEE IS FILING HI S RETURN OF INCOME IN INDIA. THE ASSESSEE FILED THE RETURN OF INCOME FOR THE YEA R UNDER CONSIDERATION ON 31.08.2012 DECLARING TOTAL INCOME OF RS. 10,78,290/ -. THE RETURN WAS REVISED SUO-MOTO ON 03.10.2012 DECLARING TOTAL INCOME OF RS . 20,55,220-/-. 4. SINCE THE RETURN OF INCOME WAS FILED BY THE POWER O F ATTORNEY HOLDER WHO WAS NOT AWARE OF ALL THE BANK ACCOUNTS OF THE ASSESSEE, THEREFORE, INTEREST EARNED FROM BANK AMOUNTING TO RS. 74,282/- COULD NOT BE AD DED TO THE RETURNED INCOME OF THE ASSESSEE. WHEN THE ASSESSEE CAME TO K NOW ABOUT THIS ERROR, HE FILLED THE REVISED COMPUTATION OF INCOME AND INCLUD ED SUCH INTEREST INCOME AND PAID THE TAXES ACCORDINGLY. 5. THE A.O. WAS OF THE OPINION THAT THE ASSESSEE HAS F URNISHED INACCURATE PARTICULARS OF INCOME AND IS THEREFORE LIABLE FOR P ENALTY U/S. 271(1)(C) OF THE ACT AT RS. 22,954/-. 6. ASSESSEE AGITATED THE MATTER BEFORE THE LD. CIT(A) BUT WITHOUT ANY SUCCESS. 7. THERE IS NO DISPUTE THAT THE ASSESSEE HAD VOLUNTARI LY OFFERED THE INTEREST INCOME WHICH REMAINED TO BE ADDED TO HIS TOTAL INCOME BY T HE INADVERTENT ERROR ON THE PART OF THE POWER OF ATTORNEY HOLDER. IT IS THE FAC T THAT WITHOUT THERE BEING ANY SPECIFIC QUERY ON THIS REGARD, THE ASSESSEE REVISED ITS TOTAL INCOME. THERE IS NO ITA NO. 2050 /AHD/2016 . A.Y. 2012-13 3 DISPUTE THAT THE ASSESSEE IS RESIDING IN MOSCOW AND IS FILING HIS RETURN OF INCOME THROUGH A POWER OF ATTORNEY HOLDER. 8. ON THE GIVEN FACTS OF THE CASE IN HAND, WE DO NOT F IT THIS TO BE A FIT CASE FOR THE LEVY OF PENALTY U/S. 271(1)(C) OF THE ACT. THE A.O. IS DIRECTED TO DELETE THE PENALTY OF RS. 22,954/-. 9. APPEAL FILED BY THE ASSESSEE IS ACCORDINGLY ALLOWED . ORDER PRONOUNCED IN OPEN COURT ON 09- 04- 20 18 SD/- SD/- (S. S. GODARA) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY ACCOUNTANT MEMBER AHMEDABAD: DATED 09/04/2018 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