Chetan Khara, Kolkata V. Income Tax Officer, Ward-34(3), Kolkata, Kolkata

ITA 2675/KOL/2013

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0980 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 11 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-11-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 20-02-2017
• Assessment Year: 2004-2005
• Appeal Filed On: 28-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARINDAM BHATTACHSRJEE ADD L
• Assessee Lawyers: O P BAID
• Keywords: Revised return
• Section: 143(3); 148

Judgement Text

ITA NO.2675/KOL/2013-CHETAN KHARA A.Y.2004-05 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH D KOL KATA [BEFORE HONBLE SHRI J.SUDHAKAR REDDY, AM & SHRI A.T.VARKEY, JM ] ITA NO.2675/KOL/2013 ASSESSMENT YEAR : 2004-05 CHETAN KHARA, -VERSUS- I.T.O., WARD-34(3), KOLKATA KOLKATA (PAN: AFVPK 2402 E) (APPELLANT) (RESPONDENT) FOR THE APPELLANT: SHRI O.P.BAID, FCA FOR THE RESPONDENT: SHRI ARINDAM BHATTACHSRJEE, ADD L.CIT DATE OF HEARING : 26.09.2017. DATE OF PRONOUNCEMENT : 17.11.2017. ORDER PER J.SUDHAKAR REDDY, AM: THIS IS AN APPEAL BY THE ASSESSEE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX-(A)- XX, KOLKATA RELATI NG TO A.Y. 2004-05 WHEREIN A PENALTY LEVIED U/S 271(1)(C) OF THE INCOME TAX ACT , 1961 (ACT) WAS CONFIRMED. 2. AFTER HEARING THE RIVAL CONTENTIONS, WE FI ND THAT THE ASSESSEE FILED RETURN OF INCOME FOR THE IMPUGNED ASSESSMENT YEAR 2004-05 ON 26.04.2010 IN RESPONSE TO THE NOTICE U/S 148 OF THE ACT, DECLARING TOTAL INCOME O F RS.2,57,794/-. THE AO COMPLETED THE ASSESSMENT U/S 143(3) OF THE ACT ASSESSING THE TOTAL INCOME OF THE ASSESSEE AT THE SAME FIGURE OF RS.2,57,794/-. PENALTY U/S 271(1)(C ) OF THE ACT WAS INITIATED AS THE ASSESSEE HAD SHOWN ADDITIONAL INCOME OF RS.1,48,.54 0/- IN THE REVISED RETURN OF INCOME. THEREAFTER PENALTY WAS LEVIED. 3. PENALTY IN THIS CASE HAS BEEN INITIATED IN TH E ASSESSMENT ORDER, WHICH IS PASSED ON THE RETURN OF INCOME FILED BY THE ASSESSEE, WHERE THE ASSESSEE HAD DECLARED INCOME OF RS.2,57,794 AND THE AO ASSESSED THE INCOME ON THE S AME FIGURE. THERE IS NO ADDITION WHATSOEVER BY THE AO. WHEN THERE IS NO VARIATION IN THE INCOME RETURNED AND THE INCOME ASSESSED AND AS THE REVISED RETURN OF INCOM E HAS BEEN ACCEPTED, NO PENALTY U/S ITA NO.2675/KOL/2013-CHETAN KHARA A.Y.2004-05 2 271(1)(C) OF THE ACT LIES. PENALTY U/S 271(1)(C) FO R CONCEALMENT OF INCOME OR FURNISHING OF INACCURATE PARTICULARS IS IN RELATION TO THE INCOME DECLARED IN THE RETURN OF INCOME BASED ON WHICH THE ASSESSMENT HAS BEEN F RAMED. IN CASE ON HAND THERE IS NO FINDING THAT THEERE WAS CONCEALMENT OF INCOME OR FURNISHING INACCURATE PARTICULARS OF INCOME IN THE REVISED RETURN OF INCOME FILED, BA SED ON WHICH THE ASSESSMENT HAS BEEN DONE AND THERE IS NO FINDING THAT THE ADDITION AL INCOME DECLARED IN THIS REVISED RETURN OF INCOME WAS DEEMED CONCEALED INCOME WHICH AROSE OUT OF INVESTIGATION BY THE REVENUE. EVEN OTHERWISE NOWHERE IN THE PENALTY ORDER THE AO HAS STATED THE CHARGE FOR WHICH PENALTY IS LEVIED U/S 271(1)(C). T HERE IS NO SPECIFIC CHARGE STATING AS TO WHETHER THE ASSESSEE HAS CONCEALED HIS INCOME OR WHETHER HE HAS FURNISHED INACCURATE PARTICULARS OF INCOME. THE PENALTY LEVIE D IS BAD IN LAW ON THIS GROUND ALSO. THUS WE CANCEL THE PENALTY LEVIED AND ALLOW THE APP EAL OF THE ASSESSEE. 4. IN THE RESULT THE APPEAL OF THE ASSESSEE I S ALLOWED. O RDER PRONOUNCED IN THE COURT ON 17 TH NOVEMBER, 2017. SD/- SD/- [A.T.VARKEY] [ J.SUDHAKAR REDDY ] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 17 TH NOVEMBER, 2017. [RG PS] COPY OF THE ORDER FORWARDED TO: 1.MR.CHETAN KHARA, C/O M/S. BAID & COMPANY, CHARTER ED ACCOUNTANTS, 10/C, BALLYGUNJE CIRCULAR ROAD, 2 ND FLOOR, KOLKATA-700019. 2. I.T.O., WARD-34(3), KOLKATA. 3. C.I.T.(A)-XX, KOLKATA 4.C.I.T-XII, KOLKATA . 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER, SENIOR PRIVATE SECRETARY HEAD OF OFFICE/D.D.O, ITAT KOLKATA BENCHES ITA NO.2675/KOL/2013-CHETAN KHARA A.Y.2004-05 3