SHRI JASPAL SINGH , AMRITSAR V. INCOME TAX OFICER , WARD-5(2), AMRITSAR

ITA 240/ASR/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4963 (ITAT-AMRITSAR)
• Duration Of Justice: 1 year(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 26-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CHARAN DASSSR
• Assessee Lawyers: PADAM BAHL
• Keywords: Unexplained investment; Opportunity of being heard; Set aside
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR (SMC) BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER I.T.A. NO. 240/ASR/2018 AS SESSMENT YEAR: 2004-05 JASPAL SINGH, S/O SWARAN SINGH, 45-GF, B-BLOCK, RANJIT AVENUE, AMRITSAR [PAN: ABQPS 7190G] VS. INCOME TAX OFFICER, WARD-5(2), AMRITSAR (APPELLANT) (RESPONDENT) APPELLANT BY : SH. PADAM BAHL, CA RESPONDENT BY: SH. CHARAN DASS,SR. D.R. DATE OF HEARING: 19.02.2019 DATE OF PRONOUNCEMENT: 15.05.2019 ORDER PER SANJAY ARORA, AM: THIS IS AN APPEAL BY THE ASSESSEE AGITATING THE ORD ER BY THE COMMISSIONER OF INCOME TAX (APPEALS)-2, AMRITSAR ('CIT(A)' FOR S HORT) DATED 26.3.2018, CONFIRMING THE LEVY OF PENALTY U/S. 271(1)(C) OF TH E INCOME TAX ACT, 1961 ('THE ACT' HEREINAFTER) FOR THE ASSESSMENT YEAR (AY) 2004 -05 BY THE ASSESSING OFFICER (AO) VIDE HIS ORDER DATED 30.8.2016. 2. THE PENALTY IN THIS CASE IS ON AN ADDITION OF RS .2.70 LACS ON ACCOUNT OF UNEXPLAINED INVESTMENT IN ACQUISITION OF IMMOVABLE PROPERTY, AS SUSTAINED IN THE APPELLATE PROCEEDINGS. IN THE QUANTUM PROCEEDINGS, IN CHALLENGE BEFORE THE TRIBUNAL (IN ITA NO. 445/ASR/2016 DATED 08.5.2019), THE SAME HAVE SINCE BEEN RESTORED BACK TO THE FILE OF THE AO TO FRAME THE AS SESSMENT AFRESH AFTER ALLOWING ITA NO. 240/ASR/2018 (AY 2004-05) JASPAL SINGH V. ITO 2 THE ASSESSEE DUE OPPORTUNITY OF BEING HEARD. THE FI NAL FINDINGS BY THE TRIBUNAL IN ITA NO. 445/2016, WHICH ARE RELEVANT FOR THE PURPOS E, ARE REPRODUCED AS UNDER: 4.6 IN VIEW OF THE FOREGOING, THE MATTER, SETTING ASIDE THE ASSESSMENT, IS RESTORED BACK TO THE FILE OF THE AO FOR THE PURPOSE. THAT IS, TO PRO CEED FROM THE STAGE OF THE ISSUE OF NOTICE U/S. 148(1), WHICH IS UNDISPOSED. THE DECISIONS BY THE HONBLE APEX COURT AND THE JURISDICTIONAL HIGH COURT, CITED SUPRA, COMPLETELY ANSWER THE QUESTIONS ARISING IN THIS CASE, INCLUDING THAT QUA THE VALIDITY OF THE REASONS RECORDED. I DECIDE ACC ORDINGLY. THE ASSESSMENT HAVING BEEN SET ASIDE, THE PENALTY P ROCEEDINGS SHALL ABATE. THE PENALTY ORDER IS, ACCORDINGLY, CANCELLED. THE ASSES SING OFFICER (AO) SHALL, HOWEVER, BE AT LIBERTY TO, ON FINALIZING THE FRESH ASSESSMENT, INITIATE PENALTY PROCEEDINGS, I.E., WHERE DEEMED FIT AND PROPER IN T HE FACTS AND CIRCUMSTANCES OF THE CASE, AFTER RECORDING SATISFACTION IN ITS RESPECT. I DECIDE ACCORDINGLY. 3. IN THE RESULT, THE ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN CO URT ON MAY 15, 2019 SD/- (SANJAY ARORA) ACCOUNTANT MEMBER DATE: 15.05.2019 /GP/SR. PS. COPY OF THE ORDER FORWARDED TO: (1) THE APPELLANT: JASPAL SINGH S/O SWARAN SING H, 45-GF, B-BLOCK, RANJIT AVENUE, AMRITSAR (2) THE RESPONDENT: INCOME TAX OFFICER, WARD-5( 2), AMRITSAR (3) THE CIT(APPEALS)-2, AMRITSAR (4) THE CIT CONCERNED (5) THE SR. DR, I.T.A.T TRUE COPY BY ORDER