Anik Engineers, Ahmedabad V. The ACIT.,Circle-10, Ahmedabad

ITA 2440/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0777 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 14-10-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: O P MEENA HEARING CONCLUDED ON

Judgement Text

I.T.A. NO.: 2440/AHD/2013 ASSESSMENT YEARS: 2007 - 08 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD SMC BENCH, AHMEDABAD [CORAM : PRAMOD KUMAR AM ] I.T.A. NO. : 2440 /AHD/201 3 ASSESSMENT YEAR S: 2007 - 08 ANIL ENGINEERS ............APPELLANT [PAN: AABFA7316E ] VS ASSISTANT COMMISSIONER OF INCOME TAX CIRCL E 10 , AHMEDABAD ...........RESPONDENT APPEARANCES BY VIVEK CHAVDA FOR THE APPELLANT O P MEENA FOR THE RESPONDENT HEARING CONCLUDED ON: 19/07 /16 ORDER PRONOUNCED ON : 16 /08/16 O R D E R 1. THE SHORT ISSUE THAT I AM REQUIRED TO ADJUDI CATE IN THIS APPEAL IS WHETHER OR NOT THE LEARNED CIT(A) WAS JUSTIFIED IN UPHOLDING THE PENALTY OF 2,69,000 IMPOSED ON THE ASSESSEE UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2007 - 08 . THE CIT(A) S ORDER, IMPUGNED IN THIS A PPEAL, IS DATED 19 TH AUGUST 2013 . 2. WHEN THIS APPEAL WAS CALLED OUT FOR HEARING, LEARNED COUNSEL FOR THE ASSESSEE INVITED MY ATTENTION TO THE FACT THAT THE QUANTUM ASSESSMENT, ON THE BASIS OF WHICH THE IMPUGNED PENALTY HAS BEEN LEVIED, HAS NOT BEEN APPRO VED BY THE TRIBUNA L AND HAS SINCE BEEN REMITTED TO THE FILE OF THE ASSESSING OFFICER VIDE ORDER DATED 6 TH SEPTEMBER 2013. HE URGES US TO, IN THE LIGHT OF THIS DEVELOPMENT, REMIT THE PENALTY MATTER ALSO TO THE FILE OF THE ASSESSING OFFICER. 3 LEARNED DR D OES NOT OPPOSE THE PRAYER OF THE ASSESSEE. 4. IN VIEW OF THE ABOVE DISCUSSIONS, THE MATTER IS SET ASIDE TO THE FILE OF THE ASSESSING OFFICER TO DECIDE THE ISSUE I.T.A. NO.: 2440/AHD/2013 ASSESSMENT YEARS: 2007 - 08 PAGE 2 OF 2 REGARDING LEVY OF PENALTY AFRESH, IN THE LIGHT OF THE FINDINGS IN THE REMANDED QUANTUM ASSESS MENT PROCEEDINGS AND IN THE EVENT THE PENALTY PROCEEDINGS HAVE BEEN INITIATED IN THESE REMANDED PROCEEDINGS AS WELL. WITH THESE OBSERVATIONS, THE MATTER GOES BACK TO THE FILE OF THE AO. 5. THE APPEAL IS ALLOWED IN THE TERMS INDICATED ABOVE . PRONOUNCED IN THE OPEN COURT TODAY ON 16 TH DAY OF AUGUST, 2016. SD/ - PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: 16 TH DAY OF AUGUST ,2016 . COPIES TO : (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) C IT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD