Mr.Govindbhai R.Chaudhary , Ahmedabad V. Income Tax Officer, Ahmedabad

ITA 2360/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8287 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-10-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 07-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SONIYA KUMAR
• Assessee Lawyers: P G TULSIAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA NO. 2360/AHD/2015 (ASSESSMENT YEAR: 2009-10) M/S. GOVINDBHAI R. CHAUDHARY, L/106/1263, SHREE NAGAR APARTMENT, SOLA ROAD, AHMEDABAD APPELLA NT VS. INCOME TAX OFFICER, WARD-6(2), AHMEDABAD RESPONDENT PAN: AAHPC0832H /BY ASSESSEE : P. G. TULSIAN, A.R. /BY REVENUE : SONIYA KUMAR, SR. D.R. /DATE OF HEARING : 03.10.2017 /DATE OF PRONOUNCEMENT : 12.10.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2009-10 ARISES AGAINST THE CIT(A)-4, AHMEDABADS ORDER DATED 05 TH JUNE, 2015 IN CASE NO. CIT(A)- 4/241/ITO.6(2)/14-15, UPHOLDING ASSESSING OFFICERS ACTION IMPOSING PENALTY OF RS.1,08,880/-, IN PROCEEDINGS U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH SIDES. CASE FILE PERUSED. 2. LEARNED COUNSEL REPRESENTING ASSESSEE STATES AT THE OUTSET THAT BOTH THE LOWER AUTHORITIES HAVE IMPOSED THE IMPUGNED PENALTY PERTA INING TO QUANTUM ADDITION OF ITA NO. 2360/AHD/15 [M/S. GOVINDBHAI R . CHAUDHARY VS. ITO] A.Y. 2009-10 - 2 - RS.6.05LACS IN THE NATURE OF SHORT TERM CAPITAL GAI NS ARISING FROM SALE OF NON AGRICULTURAL LAND. HE THEREAFTER FILES BEFORE US A CO-ORDINATE BENCH QUANTUM ORDER IN ASSESSEES CO NO. 214/AHD/2012 DECIDED ON 18.07. 2016 REMITTING THE ISSUE OF DISALLOWANCE OF SHORT TERM CAPITAL LOSS OF RS.2,89, 332/- AGAINST THE ABOVE SHORT TERM CAPITAL GAINS BACK TO THE ASSESSING OFFICER FO R AFRESH ADJUDICATION. HIS CASE THEREFORE IS THAT QUANTUM PROCEEDINGS ARE YET TO BE FINALIZED. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DISPUTE ALL TH ESE INTERVENING DEVELOPMENTS ON QUANTUM SIDE DURING THE PENDENCY OF THE INSTANT PEN ALTY APPEAL. WE THEREFORE OBSERVE THAT THE IMPUGNED PENALTY HAS NO LEGS TO ST AND AS OF NOW. WE THEREFORE REMIT THE INSTANT PENALTY ISSUE AS WELL BACK TO ASS ESSING OFFICERS FILE TO BE FINALIZED AFTER THE ABOVE QUANTUM PROCEEDINGS. THE ASSESSEES SOLE SUBSTANTIVE GROUND IS ACCEPTED FOR STATISTICAL PURPOSES. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. [PRONOUNCED IN THE OPEN COURT ON THIS THE 12 TH DAY OF OCTOBER, 2017.] SD/- SD/- ( MANISH BORAD ) ( S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD: DATED 12/10/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0