Kirloskar Industries Ltd, Pune V. Deputy Commissioner of Income-tax, Circle - 14, Pune

ITA 266/PUN/2018

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 0214 (ITAT-PUNE)
• Duration Of Justice: 4 year(s) 5 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 31-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA No.266/PUN/2018 निर्धारण वषा / Assessment Year : 2012-13 Kirloskar Industries Ltd., 13/A, Karve Road, Kothrud, Pune – 411038 PAN : AAACP3590P Vs. DCIT, Circle – 14, Pune Appellant Respondent आदेश / ORDER PER S.S. GODARA, JM : This assessee‟s appeal for AY 2012-13 arises against the CIT(A)-7, Pune‟s order dated 10-11-2017 passed in case No. PN/CIT(A)-7/Cir.14/10027/2017-18 in proceedings under Section 271(1)(c) of the Income Tax Act, 1961, in short „the Act‟. Heard both the parties. Case file perused. 2. Coming to the assessee‟s sole grievance challenging correctness of both the learned lower authorities‟ levying the impugned Section 271(1)(c) penalty of Rs.2,67,64,602/-, we find Assessee by Shri C.H. Naniwadekar Revenue by Shri Saradar Singh Meena Date of hearing 12-07-2022 Date of pronouncement 27-07-2022 ITA No.266/PUN/2018 Kirloskar Industries Ltd. 2 that the same hardly requires us to delve deeper in the relevant factual matrix. Suffice to say, the Assessing Officer‟s show cause notice dated 19.03.2015 sufficiently indicates that he had nowhere specified as to whether this tax payer had concealed particulars of its income or furnished inaccurate particulars of such an income. Hon'ble jurisdictional high court‟s recent decision in Mohammed Farhan A. Shaik (2021) 434 ITR 1 (Bom) (FB) holds that such a failure on the Assessing Officer‟s part is very much fatal to the corresponding penalty proceedings. We thus adopt the very reasoning mutatis mutandis to delete the instant penalty. All other pleadings on merits are rendered academic. 3. This assessee‟s appeal is allowed in above terms. Order pronounced in the Open Court on 27 th July, 2022. Sd/- Sd/- (DIPAK P. RIPOTE) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER प ु णे Pune; ददिधांक Dated : 27 th July, 2022 GCVSR ITA No.266/PUN/2018 Kirloskar Industries Ltd. 3 आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: 1. अपीऱधर्थी / The Appellant; 2. प्रत्यर्थी / The Respondent; 3. The CIT(A)-7, Pune 4. 5. The Pr.CIT-6, Pune विभागीय प्रविविवि, आयकर अपीलीय अविकरण, पुणे “B” / DR „B‟, ITAT, Pune 6. गार्ड फाईल / Guard file आदेशान ु सार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 12-07-2022 Sr.PS 2. Draft placed before author 20-07-2022 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.