Aquaguard Plastics & Polymers Pvt.Ltd., Baroda V. The Dy.CIT.,Circle-1(1), Baroda

ITA 2068/AHD/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 6088 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-04-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 28-04-2017
• Assessment Year: 2004-2005
• Appeal Filed On: 09-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JAMES KURIAN HEARIN G CONCLUDE
• Assessee Lawyers: K K NARIA

Judgement Text

ITA NO. 2068 /AHD/201 4 A SSESSMENT Y EAR: 20 0 4 - 05 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM AND MAHAVIR PRASAD JM] ITA NO. 2068/AHD/2014 ASSESSMENT Y EAR: 2004 - 05 ACQUAGUAR D PLASTICS & POLYMERS PVT. LT D ., ... .......... .APPELLANT A - 1/839, GIDC MAKARPURA, BARODA 390 010. [PAN: AA B C A 5877 F ] VS. DY. COMMISSIONER OF INCOME TAX CIRCLE 1(1), BARODA. ... .. ......... RESPONDENT APPEARANCES BY K.K. NARIA FOR THE A PPELLANT JAMES KURIAN FOR THE RESPONDENT HEARING C ONCLUDED ON: 28.04.2017 ORDER PRONOUNCED ON : 28 .04.2017 O R D E R PER PRAMOD KUMAR , AM: 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CALLED INTO QUESTION CORRECTNESS OF LEARNED CIT(A) S ORDER DATED 28.04.2014 CONFIRMING PENALTY OF RS. 2,70,000/ - IMPOSED ON THE ASSESSEE UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 20 0 4 - 05 . 2. WHEN THIS APPEAL WAS CALLED OUT FOR HEARING, LEARNED COUNSEL FOR THE ASSESSEE INVITED OUR ATTENTION TO THE FACT THAT THE REL ATED QUANTUM ADDITION ITSELF, VIDE O R DER DATED 31.05.2016 PASSED BY THIS TRIBUNAL, STAND S DELETED . IN THIS VIEW OF THE MATTER, THE LEARNED C OUNSEL FOR THE ASSESSEE SUBMITS , THIS PENALTY SHOULD ALSO BE DELETED. ITA NO. 2068 /AHD/201 4 A SSESSMENT Y EAR: 20 0 4 - 05 PAGE 2 OF 2 3. LEARNED DEPARTMENTAL REPRESENTATIVE DO ES NOT OPPOSE THE PRAYER SO MADE BY THE ASSESSEE . 4. IN V IEW OF THE ABOVE DISCUSSION, WE DEEM IT FIT AND PROPER TO DELETE THE IMPUGNED PENALTY . ORDERED, ACCORDINGLY. 5. IN THE RESULT, APPEAL IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 28 TH D AY OF APRIL, 2017. SD/ - SD/ - MAHAVIR PRASAD PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) DATED, AHMEDABAD, THE 28 TH DAY OF APRIL, 201 7 . PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD