The Deputy Commissioner of Income Tax (Exemptions), Circle-1, Ahmedabad V. Gujarat Industrial Development Corporation, Gandhinagar

ITA 2161/AHD/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0673 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 5 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 28-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S N SOPARKAR; PAVIN SHAH ARS
• Assessee Lawyers: KRISHNA VYAS
• Section: 271(1)(c)

Judgement Text

, B - IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH B BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER &SMT. MADHUMITA ROY, JUDICIAL MEMBER . ITA NO. 2161/AHD/2017 / ASSTT. YEAR: 2011-12 DCIT (EXEMPTIONS),CIR-1, AHMEDABAD VS. GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION 2 ND FLOOR, BLOCK NO. 3,4,5 UDHYOG BHAVAN, GANDHINAGAR- 382 011 PAN: AAB CG8 033 D / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI KRISHNA VYAS, CIT DR REVENUE BY : SHRI S.N. SOPARKAR & PAVIN SHAH, ARS !'/ DATE OF HEARING : 08/02/2019 #$% !'/ DATE OF PRONOUNCEMENT: 27/03/2019 &'/ O R D E R PER MADHUMITA ROY- JM : THE INSTANT APPEAL FILED BY THE REVENUE AGAINST THE ORDER DATED 25.07.2017 PASSED BY THE CIT(A)-9, AHMEDABAD U/S. 271(1)(C) OF THE INCOME TAX ACT 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSME NT YEAR 2011-12. 2. THE ASSESSEE INITIALLY FILED ITS RETURN OF INCOM E ON 30.09.2011 SHOWING DEFICIT OF RS. 1241,42,01,337/- WHICH WAS FINALIZED U/S. 14 3(3) OF THE ACT ON 16.01.2014 DETERMINING TOTAL INCOME OF RS. 627,67,58,990/-. T HE LD. AO ALSO INITIATED PENALTY PROCEEDINGS U/S. 271(1)(C) OF THE ACT. 3. BY AND UNDER AN ORDER DATED 28.03.2016 THE DCIT (EXEMPTIONS) CIRCLE-1, AHMEDABAD IMPOSED A LUMP SUM PENALTY OF RS. 9,96,21 0,794/- U/S. 271(1)(C) OF THE ACT. IN APPEAL THE SAME WAS DELETED BY THE ORDER I MPUGNED RELYING UPON THE ORDER ITA NO. 2161/AHD/2017 A.Y. 2011-12 2 PASSED BY THE HONBLE TRIBUNAL DATED. 10.01.2017 IN QUANTUM APPEAL COPY WHEREOF WAS HANDED OVER TO AS AT THE TIME OF HEARING BY THE LD. AR. THE LD. COUNSEL APPEARING FOR THE ASSESSEE SUBMITTE D BEFORE US THAT SINCE THE QUANTUM APPEAL HAS BEEN DELETED BY THE HONBLE TRIB UNAL THE PENALTY LEVIED BY THE AO IS NOT SUSTAINABLE AND HENCE HE RELIED UPON THE ORDER PASSED BY THE LD. CIT(A) 4. HAVING HEARD THE LD. COUNSEL APPEARING FOR THE P ARTIES, HAVING HEARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE WE FIND THAT SI NCE THE QUANTUM APPEAL HAS BEEN DELETED BY THE HONBLE TRIBUNAL THE APPEAL PREFERRE D BY THE ASSESSEE AGAINST THE ORDER OF PENALTY HAS BEEN RIGHTLY ALLOWED BY THE LD. CIT( A). IN FACT THE APPEAL PREFERRED BEFORE US BY REVENUE BECOME INFRUCTUOUS. 5. HENCE THE APPEAL IS DISMISSED AS INFRUCTUOUS. [ORDER PRONOUNCED IN THE COURT ON 27-03-2019. ] SD/- SD/- ( AMARJIT SINGH ) ( MADHUMITA ROY ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 27/03/2019 TANMAY TRUE COPY &'!()*+&*%/ COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. , / THE RESPONDENT. 3. -- . / CONCERNED CIT 4. . ( ) / THE CIT(A) 5. *12(( , / DR, ITAT, 6. 2456 / GUARD FILE. &' / BY ORDER, 7/ -8 (DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD