The ACIT, Circle-4, Baroda V. M/s. Param Polypack Pvt. Ltd., Baroda

ITA 2437/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 0869 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2006-2007
• Appeal Filed On: 11-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ADITYA SHUKLA
• Assessee Lawyers: DIVYA S AGRAWAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD , BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER , ITA. NO.2437/AHD/2013 (ASSESSMENT YEAR:2006-07) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4, BARODA APPELLANT VS. M/S. PARAM POLY PACK PVT. LTD. 208, UNIQUE TRADE CENTRE, OPP. SURYA HOTEL, SAYAJIGANJ, BARODA RESPONDENT PAN: AABCP7744A /BY APPELLANT : SHRI ADITYA SHUKLA, SR. D.R. /BY RESPONDENT : SHRI DIVYA S. AGRAWAL ! '# /DATE OF HEARING : 14.07.2016 ! '# /DATE OF PRONOUNCEMENT : 19.07.2016 ORDER PER SHAILENDRA KUMAR YADAV, J.M: THIS APPEAL HAS BEEN FILED BY REVENUE AGAINST THE O RDER OF COMMISSIONER OF INCOME TAX (APPEALS)-III, BARODA , DATED 16.07.2013 FOR A.Y. 2006-07 ON FOLLOWING GROUND. ITA NO.2437/AHD/13 A.Y. 06-07[ACIT VS. M/S. PARAM P OLY PACK PVT. LTD.] PAGE 2 1 ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A) ERRED IN DELETING THE PENALTY OF RS.19,18,620/- MADE U/S.271(1)(C) OF THE ACT WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE HAD FAILED TO DISCHARGE THE BASIC ONUS CAST UPON IT TO PROVE THE GENUINENESS OF THE TRANSACTION. 2. AT THE OUTSET OF HEARING, LD. AUTHORIZED REPRESE NTATIVE POINTED OUT THAT IN QUANTUM PROCEEDINGS, CIT(A) HAS DELETED THE ADDITION MADE U/S.68 WITH REGARD TO TWO LOANS CREDITORS TOTALING RS.57 LACS. SINCE, ITAT D BEN CH, AHMEDABAD HAS DELETED THE ADDITION IN QUANTUM PROCEEDINGS, SO, CIT(A) HAS RIGHTLY DELETED THE PEN ALTY LEVIED ON THAT ACCOUNT. I UPHOLD THE SAME. 3. IN THE RESULT, THE APPEAL FILED BY REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS THE 19 TH DAY OF JULY, 2016. SD/- (SHAILENDRA KUMAR YADAV) JUDICIAL MEMBER AHMEDABAD: DATED 19/07/2016 TRUE COPY S.K.SINHA ! / COPY OF ORDER FORWARDED TO:- () * / REVENUE 2) / ASSESSEE -)./.01! 2! / CONCERNED CIT 4) 2!- / CIT (A) 5)67 8!019 '019: / / DR, ITAT, AHMEDABAD ;)8 <=> ? / GUARD FILE. BY ORDER / 9 /: .* '019: /