Shri Mahesh S. Chhatbar,HUF, Ahmedabad V. The Income tax Officer,Ward-6(4), Ahmedabad

ITA 2606/AHD/2011

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 8989 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 year(s) 5 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 10-11-2016
• Assessment Year: 2003-2004
• Appeal Filed On: 20-10-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJDEEP SING H HEARING CONCLUD

Judgement Text

ITA NO. 2606 / AHD/201 1 ASSESSMENT Y EAR: 20 0 3 - 04 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM AND MAHAVIR PRASAD JM] ITA NO. 2606 /AHD/201 1 ASSESSMENT Y EAR : 20 0 3 - 04 MAHESH S. CHHATBAR HUF ..... .......... .APPELLANT PROP. O F METABUILD HARD WARE MANUFACTURING COMPANY, 27, RAJDHANI BUNGALOWS, RAMWADI, ISANPUR, AHMEDABAD. [PAN: AABHC 1877 Q] VS. INCOME TAX OFFICER, WARD 6(4), AHMEDABAD. .. ......... RESPONDENT APPEARANCES BY MANISH J. SHAH FOR THE A PPELLANT RAJDEEP SING H FOR THE R E SPONDENT HEARING CONCLUDED ON: 24 .03.2017 ORDER PRONOUNCED ON : 28 .03.2017 O R D E R PER PRAMOD KUMAR , AM: 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CHALLENGE CORRECTNESS OF THE ORDER DATED 16 TH SEPTEMBER 2010 , UP HOLDING THE PENALTY OF RS. 1,44,460/ - IMPOSED O N THE ASSESSEE UNDER SECTION 271(1)(C) OF THE INCOME T AX ACT 1961 , FOR THE ASSESSMENT YEAR 2003 - 04. 2. THE RELATED QUANTUM DISALLOWANCE IS THE CLAIM OF DEDUCTION UNDER SECTION 80IB. HOWEVER, THAT ISSUE, VIDE OUR ORDER OF EVEN DATE, HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE FOR THE SAME ASSESSMENT YEAR - T HOUGH IN THE CONTEXT OF REVISION PROCEEDINGS. ITA NO. 2606 / AHD/201 1 ASSESSMENT Y EAR: 20 0 3 - 04 PAGE 2 OF 2 IN VIEW OF THIS DEVELOPMENT, THE VERY FOUNDATION OF IMPUGNED PENALTY C EASES TO BE SUSTAIN ABLE IN LAW. ACCORDING LY, THE IMPUGNED PENALTY IS DELETED. 3. IN THE RESULT, THE APPEAL IS ALLOWED. P RONOUNCED IN THE OPEN COURT ON THIS 28 TH DAY OF MARCH, 2017 . SD/ - SD/ - MAHAVIR PRASAD PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOU NTANT MEMBER) DATED: 28 TH DAY OF MARCH, 201 7 . PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH ES, AHMEDABAD