Shri Devabhai Ahir, Ahmedabad V. The Income Tax Officer, Ward- 7(2)(1), Ahmedabad

ITA 2082/AHD/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8399 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 11-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained investment; Initiation of penalty proceedings

Judgement Text

, ,LK ,LK,LK ,LK- -- -,E ,E,E ,E- -- -LH LH LH LH IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] YS [KK LNL; DS LE{KA YS[KK LNL; DS LE{KA YS[KK LNL; DS LE{KA YS[KK LNL; DS LE{KA (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ) ./ I.T.A. NO.2082/AHD/2016 ( / ASSESSMENT YEAR : 2008-09) DEVABHAI AHIR 1, RAGHUVIR CHAMBER, DEHGAM ROAD, NARODA, AHMEDABAD - 380025 / VS. INCOME TAX-OFFICER WARD-7(2)(1), AHMEDABAD-380009 ./ ./ PAN/GIR NO. : AATPA 6539 K ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI TEJ SHAH, A.R. / RESPONDENT BY : SHRI PRAJNA PARAMITA, SR.D.R. / DATE OF HEARING 22/09/2017 !'# / DATE OF PRONOUNCEMENT 27/09/2017 $% / O R D E R PER SHRI MAHAVIR PRASAD, JUDICIAL MEMBER : THIS IS AN APPEAL BY THE ASSESSEE AGAINST THE OR DER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-7, AHMEDABAD, D ATED 24/06/2016 FOR CONFIRMING THE PENALTY U/S.271(1)(C ) ON ACCOUNT OF UNEXPLAINED INVESTMENT U/S.69 OF THE I.T. ACT FOR T HE ASSESSMENT YEAR (AY) 2008-09, ON THE FOLLOWING GROUNDS: I. THE LD. CIT(A)-7 HAS ERRED IN FACT AND IN LAW AND C ONFIRMED THE PENALTY U/S.271(1)(C) OF THE I.T. ACT FOR PASSING O RDER BY ASSESSING OFFICER ON ACCOUNT OF UNEXPLAINED INVESTM ENT U/S.69 OF I.T. ACT AMT. OF RS.13,00,000/-. ITA NO.2082/AHD /2016 SHRI DEVABHAI VIRABHAI AHIR VS.ITO ASST.YEAR 2008-09 - 2 - II. THE ASSESSMENT IS MADE BAD IN LAW, INVALID, AND ILL EGAL. IT BE SO HELD NOW AND THE SAME BE QUASHED. III. THERE BEING NO CONCEALMENT OR FURNISHING OF INACCUR ATE PARTICULARS, INITIATION OF PENALTY PROCEEDINGS IS E RRONEOUS. IT BE SO HELD NOW. IV. THAT THE APPELLANT CRAVES LEAVE TO ADD, TO ALTER, T O AMEND, TO MODIFY, TO SUBSTITUTE, DELETE AND/OR RESCIND ALL OR ANY OF THE GROUNDS OF APPEALS ON OR BEFORE THE FINAL HEARING, IF NECESSARY SO ARISES. 2. THE RELEVANT FACTS AS CULLED OUT FROM THE MATERI ALS ON RECORD ARE AS UNDER:- IN THIS CASE, ASSESSEE IS DOING TRADING BUSINESS OF AUTOMOBILE SPARE PARTS AND SERVICE. DURING THE ASSESSMENT PROC EEDING THE LD. ITO HAS MADE ADDITION AMOUNT OF RS.13,00,000/- MADE ON ACCOUNT OF UNEXPLAINED INVESTMENT U/S.69 OF I.T. ACT AND PASSE D THE ORDER IN ASSESSMENT PROCEEDING. SAME WAS CONFIRMED BY THE LE ARNED CIT(A) AND ALSO INITIATED PENALTY U/S.271(1)(C). 3. NOW APPELLANTS APPEAL IS BEFORE US. 4. WE HAVE GONE THROUGH THE RELEVANT RECORD AND IMP UGNED ORDER. LEARNED AR HAS FILED AN ORDER OF OUR COORDINATE BEN CH IN ITA NO.2079/AHD/2013 FOR ASST. YEAR 2008-09. IN THIS CA SE, IT IS STATED THAT QUANTUM HAS BEEN DELETED BY THE HONBLE COORDINATE BENCH. ITA NO.2082/AHD /2016 SHRI DEVABHAI VIRABHAI AHIR VS.ITO ASST.YEAR 2008-09 - 3 - 5. THEREFORE, IN VIEW OF THE AFORESAID OBSERVATION, SINCE IN QUANTUM PROCEEDINGS ASSESSEES APPEAL HAS BEEN ACCEPTED SO IN SUCH CIRCUMSTANCES PENALTY CANNOT BE LEVIED. 6. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS A LLOWED. THIS ORDER PRONOUNCED IN OPEN COURT ON 27/09/2017 SD/- SD/- VEJTHR FLAG VEJTHR FLAG VEJTHR FLAG VEJTHR FLAG &' $ ( $ ) ()* $ ) ( AMARJIT SINGH ) ( MAHAVIR PR ASAD ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 27/09/2017 PRITI YADAV, SR.PS !'# $#! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. , -. / / CONCERNED CIT 4. / () / THE CIT(A)-7, AHMEDABAD 5. 012 **-. , -.# , '&$,$ / DR, ITAT, AHMEDABAD 6. 245 6 / GUARD FILE. % & / BY ORDER, 0 * //TRUE COPY// '/& () ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. DATE OF DICTATION 22/09/2017 (DICTATION-PAD 1 P AGES ATTACHED AT THE END OF THIS APPEAL-FILE) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 25/09/2017 3. OTHER MEMBER 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S . 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER