Shri Shyam Ramsingh Nagdev, Ahmedabad V. The Income Tax Officer, Ward-10(4), Ahmedabad

ITA 2700/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0241 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 02-08-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 19-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Revised return

Judgement Text

I.T.A. NO . 2700 /AHD/201 3 A SSESSMENT Y EA R: 200 9 - 10 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH, SMC , AHMEDABAD [CORAM: PRAMOD KUMAR AM] I.T.A. NO. 2 700 /A HD/ 20 1 3 ASSESSMENT Y EAR : 200 9 - 10 SHYAM RAMSINGH NAGDEV, ..... ...... . ... . APPELLANT 1 ST FLOOR, 29 - A, HINDU COLONY B/H. SAMVED HOSPITAL, NAVRANGPURA, AHMEDABAD 380 009. [ PAN: AA SPN 2223 J ] VS. INCOME TAX OFFICER, WARD - 10(4) , AHMEDABAD. ............... . RESPONDENT APPEARANCES BY: SUNIL TALATI FOR THE APPELLANT SATISH SOLANKI FOR THE RESPONDE NT D ATE OF CONCLUDING THE HEARING : 0 2 .0 8 .2016 DATE OF PRONOUNCING THE ORDER : 26 .10.2016 O R D E R 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 20.08. 2013 , PASSED BY THE LEARNED CIT ( A ) , UPHOLDING PENALTY OF RS.1,22,834/ - IMPOSED UNDER SECTION 271(1)(C) OF THE INCOME TAX A CT , 1961, FOR THE ASSESSMENT YEAR 200 9 - 10 . 2. GRIEVANCE OF THE ASSESSEE IS AS FOLLOWS : - 1. THE LD. CIT(A) HAS ERR E D IN CONFIRMING THE PENALTY OF RS.1,22,834/ - UNDER S ECTION 271(1)(C) OF THE INCOME TAX ACT, 1961. IT IS SUBMITTED THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD . CIT(A) OUGHT NOT TO HAVE CONF I RMED PENALTY U/S 271(1)(C). THE INCORRECT AND ILLEGAL PENALTY SO LEVIED AND CONFIRMED BE CANCELLED. 2. T HE LEARNED CIT(A) DID NOT A PPRECIATE THE FACTS OF THE CASE THAT THERE IS NO CONCEALMENT OR INACCURATE PARTICULARS OF INCOME WAS NOTICED/OBSERVED OR DETECTED BY THE ASSESSING OFFICER AS THE ASSESSEE SUO MOTO DECLARED THE INCOME IN THE RETURN OF INCOME. ON THE BASIS OF FACTS AND I.T.A. NO . 2700 /AHD/201 3 A SSESSMENT Y EA R: 200 9 - 10 PAGE 2 OF 3 CIRCUMSTANCES OF THE CASE A ND BASED ON DECIDED C A SE LAWS PENALTY OUGHT NOT TO HAVE BEEN CONFIRMED. IT IS SUBMITTED THAT THE PENALTY OF RS.1,22,834/ - BE DELETED. 3. THE ORDER PASSED BY THE LD . CIT(A) IS B A D IN LAW AND CONTRARY TO T HE PROVISIONS OF LAW AND FACTS. IT IS SUBMITTED THAT THE S AME BE HELD SO NOW. 3. TO ADJUDICATE ON THIS APPEAL, ONLY A FEW MATERIAL FACTS NEED TO BE TAKEN NOTE OF. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE A SSESSEE FILED A REVISED RETURN OFFERI NG TO TAX, F OR THE FIRST TIME, CAPITAL GAINS OF RS.5,96,280/ - ON SALE OF 1/10 TH SHARE IN A PLOT OF LAND. THIS RETURN WAS TRE AT ED AS NON - EST, BEING CONTRARY TO THE SCHEME OF THE ACT, AND PENALTY UNDER SECTION 271(1) (C) OF THE ACT WAS IMPOSED FOR NOT OFFERI NG CAPITAL GAINS OF RS.5,96,280/ - TO TAX. AGGRIEVED, ASSESSEE CARRIED THE MATTER IN APPEAL BEFORE THE LEARNED C IT ( A ) BUT WITHOUT ANY SUCCESS. NOT SATISFIED, THE ASSESSEE IS IN FURTHER APPEAL BEFORE ME. 4. HAVING HEARD THE RIVAL CONTENTIONS AND HAVING PERUSED THE MARTIAL ON RECORD , I FIND THAT THE ASSESSEE HAD OFFERED THE INCOME T A X, THOUGH BY W A Y OF A REVISED RETURN, AND THE ONLY REASON FOR REJECTING REVISED RETURN WA S TH A T ORIGINAL RETURN ITSELF WAS BELATED RETURN. I HAVE ALSO TAKEN NOT E OF ASSESSEE S CLAIM THAT IT WAS AN INADVERTENT MISTAKE , DUE TO LACK OF PROPER ADVICE, NOT TO HAVE INCLUDED CAPITAL GAINS IN THE ORIGINAL RETURN. THE ASSESSEE IS A SALARIED EMPLOYEE. IN VIEW OF A LL THESE FACTORS, AS ALSO B EARING IN MIND ENTIRETY OF THE C A SE, I DEEM IT FIT AND PROPER TO DELETE THE IMPUGNED PENALTY OF RS.1,22,834/ - . I ORDER SO. 5. IN THE RESULT, THE APPEAL IS ALLOWED. PRONOUNCED IN THE OPEN COURT TODAY ON 26 TH DAY OF OCTOBER , 2016. SD/ - PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: THE 26 TH DAY OF OCTOBER , 2016. I.T.A. NO . 2700 /AHD/201 3 A SSESSMENT Y EA R: 200 9 - 10 PAGE 3 OF 3 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 BENCHES, AHMEDABAD