The ITO, Ward-9(1), Ahmedabad V. M/s. Sujal Developers, Ahmedabad

ITA 2546/AHD/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8213 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-10-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 15-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: BHARAT S SHAH
• Section: 143(3); 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. NO: 2546/AHD/2014 (ASSESSMENT YEAR: 2007-08) INCOME TAX OFFICER, WARD- 9 (1), AHMEDABAD V/S M/S. SUJAL DEVELOPERS 1 ST FLOOR, SANSKRUT, OLD HIGH COURT, OFF ASHRAM ROAD, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AAMFM1427H APPELLANT BY : SHRI K. MADHUSUDAN, SR. D .R. RESPONDENT BY : SHRI BHARAT S. SHAH, A.R. ( )/ ORDER DATE OF HEARING : 26 -10-201 7 DATE OF PRONOUNCEMENT : 27-10-2017 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF THE LD. CIT(A)- XV, AHMEDABAD DATED 19.06.2014 PERTAINING TO A.Y. 2 007-08. ITA NO. 2546 /AHD/2014 . A.Y. 2007-08 2 2. THE ONLY GRIEVANCE OF THE REVENUE IS THAT THE LD. C IT(A) ERRED IN DELETING THE PENALTY OF RS. 46,12,897/- LEVIED U/S. 271(1)(C) OF THE ACT. 3. THE ROOTS FOR THE LEVY OF PENALTY LIE IN THE ASSESS MENT ORDER DATED 24.12.2009 FRAMED U/S. 143(3) OF THE ACT. THE ASSESSEE IS A BU ILDER AND REAL ESTATE DEVELOPER AND FOR THE YEAR UNDER CONSIDERATION IN I TS RETURN OF INCOME FILED ON 27.10.2007, THE ASSESSEE HAD CLAIMED DEDUCTION OF R S. 1,37,07,361/- U/S. 80IB(10) OF THE ACT. 4. AFTER THOROUGH SCRUTINY OF THE CLAIM OF THE ASSESSE E, THE A.O. DENIED THE CLAIM OF DEDUCTION U/S. 80IB OF THE ACT AND PENALTY PROCE EDINGS WERE SEPARATELY INITIATED. 5. SINCE THE ASSESSING OFFICER WAS CONVINCED THAT BY C LAIMING THE DEDUCTION U/S. 80IB(10) OF THE ACT, WHICH WAS OTHERWISE NOT ELIGIB LE TO THE ASSESSEE, THE A.O. LEVIED PENALTY U/S. 271(1)(C) OF THE ACT FOR FURNIS HING INACCURATE PARTICULARS OF INCOME AND COMPUTED THE PENALTY AT RS. 46,12,897/-. 6. ASSESSEE CARRIED THE MATTER BEFORE THE LD. CIT(A) A ND GOT THE RELIEF. 7. FACTS OF THE CASE SHOW THAT WHEN THE CLAIM OF DEDUC TION WAS DENIED BY THE A.O., THE MATTER TRAVELLED UP TO THE TRIBUNAL AND T HE TRIBUNAL VIDE IN ITA NOS. 2427/AHD/2010 & 552/AHD/2011 RESTORED THE MATTER TO THE FILES OF THE LD. CIT(A) WITH A DIRECTION TO DECIDE THE CLAIM OF DEDU CTION AFRESH. ITA NO. 2546 /AHD/2014 . A.Y. 2007-08 3 8. AS PER DIRECTION OF THE TRIBUNAL, THE LD. CIT(A) VI DE ORDER DATED 09.09.2016 CONSIDERED THE ISSUES ON MERITS AND ALLOWED THE CLA IM OF DEDUCTION U/S. 80IB(10) OF THE ACT. 9. SUBLATO FUNDAMENTO CADIT OPUS- SINCE THE FOUNDATI ON HAS BEEN REMOVED, THE SUPER STRUCTURE MUST FALL. APPEAL FILED BY THE REVENUE IS ACCORDINGLY DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 27 - 10- 20 17 SD/- SD/- (MAHAVIR PRASAD) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED 27S/10/2017 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD