The DCIT, Circle-5, Ahmedabad V. M/s. Nandan Exim Limited, Ahmedabad

ITA 2315/AHD/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 5849 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-05-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 26-05-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 11-08-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: RAJESH MEENA IRA KAPOOR

Judgement Text

ITA NO. 2315 /AHD/2014 ASSESSMENT YEAR : 20 09 - 10 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH, AHMEDBAD [CORAM: PRAMOD KUMAR AM AND S.S. GODARA JM ] ITA NO. 2315 /AHD/2014 ASSESSMENT YEAR : 20 09 - 10 DY. COMMISSIONER OF INCOME TAX, CIRCLE 5 , AHMEDABAD .. ............. .....APPELLANT VS. NANDAN EXIM LTD. , .. .. .. . RESPONDENT CHIRIPAL HOUSE SATELLITE ROAD, SATELLITE AHMEDABAD 380 018 [PAN: AA ACN 5327 L ] APPEARANCES BY: RAJESH MEENA F OR THE A PPELLANT IRA KAPOOR FOR THE RESPONDENT DATE OF CONCLU DING THE HEARING : 2 6 .05 .2017 DATE OF PRONOUNCING THE ORDER : 26 . 05. 2017 O R D E R PER PRAMOD KUMAR AM: 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATE D 06.05.2014 , PASSED BY THE LEARNED CIT(A ) , DELETING PENALTY OF RS.17,92,919/ - U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2009 - 10. 2. GRIEVANCES RAISED BY THE ASSESSING OFFICER ARE AS FOLLOWS : - 1. THE CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE PENALTY OF R S.17,92,919/ - MADE UNDER SECTION 271(1)(C) OF THE I.T. ACT. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE AO . 3. IT IS THEREFORE PRAYED THAT THE ORDER OF THE L D. CIT(A) MAY BE SET ASIDE AND THAT OF THE AO BE RESTORED. ITA NO. 2315 /AHD/2014 ASSESSMENT YEAR : 20 09 - 10 PAGE 2 OF 2 3. AS THE RELATED QUANTUM ADDITION ITSELF IS DELETED VIDE TRIBUNAL S ORDER DATE D 26.02.2016 , THE VERY FOUNDATION OF THE IMPUGNED PENALTY CEASES TO HOLD GOOD IN LAW. THE IMPUGNED PENALTY IS ALSO, THEREFORE, DELETED. 4. IN THE RESULT, THE APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 26 TH DAY OF MAY , 2017. SD/ - SD/ - S.S. GODARA PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) AHMEDABAD , DATED THE 26 TH DAY OF MAY , 201 7 COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD