The ACIT, Circle-10, Ahmedabad V. Smt. Kalpanaben M.Bhatt, Ahmedabad

ITA 2401/AHD/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 9821 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-12-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 08-12-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 04-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: RIDHI SHAH
• Section: 54

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD . . , , BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI MAHAVIR PRASAD, JUDICIAL MEMBER ./ I.T.A. NO.2401/AHD/2013 ( / ASSESSMENT YEAR : 2007-08) ASST. COMMISSIONER OF INCOME-TAX, CIRCLE-10, AHMEDABAD / VS. SMT. KALPANA M BHATT C/O M.K.MEHTA 9, PROFFESSORS COLONY NEAR VIJAY CROSS ROAD AHMEDABAD ./ ./ PAN/GIR NO. :ACHPB 7452 N ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI SUMIT KUMAR VERMA, SR.D.R / RESPONDENT BY : MS. RIDHI SHAH, A.R. / DATE OF HEARING 08/12/2016 / DATE OF PRONOUNCEMENT 14/12/2016 / O R D E R PER SHRI MAHAVIR PRASAD, JUDICIAL MEMBER : THIS APPEAL FILED BY THE DEPARTMENT IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-XVI, /AHMEDABAD DATED 31/07/2013 FOR THE ASSESSMENT YEAR (AY) 2007-08 AND FOLLOWING GROUND HAS BEEN TAKEN:- THE LD.CIT(A) HAS ERRED IN FACTS AND DELETED THE PENALTY U/S 271(1)(C) OF THE IT ACT OF RS.22,44,000/- LEVIED IN RESPECT OF DISALLOWANCE OF EXEMPTION U/S 54 OF RS. 1,00,00,000/- MADE BY THE ASSESSING OFFICER. ITA NO.2401/AHD/2013 ACIT VS. SMT.KALPANA M. BHATT ASST.YEAR 2007-08 - 2 - 2. IN THIS CASE, SCRUTINY ASSESSMENT WAS COMPLETED U/S.143(3) OF THE ACT ON 30/11/2009 DETERMINING THE TOTAL INCOME AT RS.3,34,13,970/- AS AGAINST RETURNED INCOME OF RS.2,34,13,970/- BY AO DISALLOWING THE EXEMPTION CLAIMED BY THE ASSESSEE UNDER SECTION 54 OF THE ACT AMOUNTING RS.1,00,00,000/- HOLDING THAT THE CONDITIONS PRESCRIBED U/S.54 OF THE ACT FOR AVAILING OF THE EXEMPTION FROM CAPITAL GAINS TAX ON TRANSFER OF A RESIDENTIAL HOUSE PROPERTY WAS TRULY & ESSENTIALLY NOT FULFILLED. THE AO ALSO INITIATED PENALTY PROCEEDINGS U/S.271(1)(C) OF THE ACT FOR FURNISHING INACCURATE PARTICULARS OF INCOME AND ACCORDINGLY, PENALTY NOTICE U/S274 R.W.S. 271(A)(C) OF THE ACT WAS ISSUED ON 30/11/2009. BEING AGGRIEVED BY THE ORDER PASSED BY THE ASSESSING OFFICER, THE ASSESSEE PREFERRED APPEAL BEFORE THE LD.CIT(A). THE LD.CIT(A)-XVI, AHMEDABAD VIDE HIS ORDER IN APPEAL NO.CIT(A)XVI/DCIT.CIR.10/121/09-10 DATED 17/05/2010 DISMISSED THE APPEAL OF THE ASSESSEE. 3. WE HAVE GONE THROUGH THE RELEVANT RECORD AND IMPUGNED ORDER DURING THE HEARING LD. A.R. MS. RIDHI SHAH SHOWN AND FILED AN ORDER OF THE ITAT, WHERE ITAT UNDER ITA NO.2378/AHD/2010 TITLED AS ACIT, CIRCLE-10 VS. KALPANABEN M. BHATT FOR THE SAME ASSESSMENT YEAR. IN THIS CASE CO-ORDINATE BENCH OF ITAT, AHMEDABAD HAS ALLOWED THE QUANTUM APPEAL OF THE APPELLANT/ASSESSEE. THEREFORE IN SUCH CIRCUMSTANCES PENALTY CANNOT BE LEVIED. ITA NO.2401/AHD/2013 ACIT VS. SMT.KALPANA M. BHATT ASST.YEAR 2007-08 - 3 - 4. IN THE RESULT APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON 14/12/2016 SD/- SD/- . . ( ) ( ) ( N.K. BILLAIYA ) ( MAHAVIR PRASAD ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 14/12/2016 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A)-XVI, AHMEDABAD 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD TRUE COPY