Appeal details
Counselvise Citation
[2015] 140 COUNSELVISE.COM (IT) 94348 (ITAT-AHMEDABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
4 year(s) 6 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
04-09-2015
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
D
Next Hearing Date
24-08-2015
Assessment Year
2006-2007
Appeal Filed On
29-08-2011
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER J.R. SYNTHETIC PVT. LTD. Z - 1201, SURAT TEXTILE MARKET, RING ROAD, SURAT - 395002 PAN: AAACJ5473B (APPELLANT) VS INCOME TAX OFFICER, WARD 1(3), SURAT (RESPONDENT) ASSESSEE BY: S H RI RAMESH M ALPANI , A.R. REVENUE BY: SHRI A.K. PANDEY , SR. D.R. DATE OF HEARING : 24 - 08 - 2 015 DATE OF PRONOUNCEMENT : 04 - 09 - 2 015 / ORDER P ER : S. S. GODARA , JUD ICIAL MEMBER : - THIS ASSESSEE S APPEAL FOR A.Y. 2006 - 07 , AR ISES FROM ORDER OF THE CIT(A) - I, SURAT DATED 20 - 06 - 2011 IN APPEAL NO. CAS - I/15/ 10 - 11 , IN PROCEEDINGS U NDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2129 / A HD/20 11 A SSESSMENT YEAR 200 6 - 07 I.T.A NO. 2129 /AHD/20 11 A.Y. 2006 - 07 PAGE NO J.R. SYNTHETICS PVT. LTD VS. ITO 2 2 . THE ASSESSEE S SOLE SUBSTANTIVE GROUND CHALLENGES ACTION OF THE LOWER AUTHORITIES IN IMPOSING SECTION 271(1)(C) PENALTY OF RS. 3,19,174/ - IN PENALTY ORDER DATED 22 - 03 - 2010 AND AFFIRMED IN TH E CIT(A) S ORDER . THE ASSESSEE STATES THAT THE IMPUGNED PENALTY HAS ARISEN FROM ADDITION OF RS. 9,48,229/ - MADE AFTER REJECTION OF BOOKS OF ACCOUNT AND RE - ESTIMATION OF GROSS PROFITS @ 8% INSTEAD OF 7.5% IN ASSESSMENT ORDER DATED 29 - 08 - 2008. THE CIT(A) UPHELD THE SAID ACTION IN ORDER DATED 15 - 01 - 2009. THIS RESULTED IN THE IMPUGNED PENALTY AS BOTH THE AUTHORITIES BELOW TREATED IT AS A CASE OF CONCEALMENT AND FURNISHING OF INACCURATE PARTICU LARS U/S. 271(1)(C) OF THE ACT . 3. THE ASSESSEE PRODUCES BEFORE US COPY OF THE TRIBUNAL S ORDER IN QUANTUM CASE ITA 616/AHD/2009 DECIDED ON 14 - 10 - 2011 DELETING THE ABOVE STATED ADDITION OF RS. 9,48,229/ - . THE REVENUE FAILS TO REBUT THIS FACTUAL POSITION. WE HOLD IN THESE FACTS THAT THE IMPUGNED PENALTY NO MORE SURVIVES. THE SAME IS ACCORDINGLY DELETED. 4. THIS ASSESSEE S APPEAL IS ALLOWED. ORDER PR ONOUNCED IN THE OPEN C OURT ON 04 - 09 - 2015 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTNAT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 04 /09 /2015 AK I.T.A NO. 2129 /AHD/20 11 A.Y. 2006 - 07 PAGE NO J.R. SYNTHETICS PVT. LTD VS. ITO 3 / COPY OF ORDE R FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,
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