M/s Adarsh Fabs, Panipat V. ITO, Panipat

ITA 2758/DEL/2013

• Counselvise Citation: 275820114 RSA 2013
• Duration Of Justice: 10 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 24-03-2014
• Assessment Year: 1998-1999
• Appeal Filed On: 06-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GAGAN SOOD
• Section: 80HHC

Judgement Text

ITA NO.2758/DEL/2013 ASSTT.YEAR: 1998-99 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `A NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND SHRI R.P. TOLANI, JUDICIAL MEMBER I.T.A.NO.2758/DEL/2013 ASSESSMENT YEAR : 1998-99 ADARSH FABS, VS INCOME TAX OFFICER, 11, WEAVERS COLONY, WARD 2, PANIPAT. PANIPAT. (PAN: AAEFA9357L) (APPELLANT) (RESPONDENT ) APPELLANT BY: NONE RESPONDENT BY : GAGAN SOOD, DR O R D E R PER R.P. TOLANI, J.M. IN THIS APPEAL, THE ASSESSEE HAS CHALLENGED THE CO NFIRMATION OF PENALTY OF RS.99630/- U/S 271(1)(C) MADE QUA THE REDUCTION AND THE ALLOWABILITY OF CLAIM U/S 80HHC FROM THE WORKING OF THE ASSESSEE. 2. NONE APPEARED FOR THE ASSESSEE DESPITE SERVICE O F NOTICE, THEREFORE, THE APPEAL IS DECIDED EX PARTE QUA THE ASSESSEE AFTER H EARING THE LD. DR AND PERUSING THE MATERIAL AVAILABLE ON RECORD. 3. IN OUR CONSIDERED OPINION, THE ISSUE IN QUESTION IS COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION OF HONBLE SUPREME COU RT IN THE CASE OF COMMISSIONER OF INCOME TAX VS RELIANCE PETROPRODUCT S PVT. LTD. (2010) ITA NO.2758/DEL/2013 ASSTT.YEAR: 1998-99 2 322 ITR 158(SC) FOR THE PROPOSITION THAT IF THE DET AILS ARE FURNISHED BY THE AO IN THE RETURN OF INCOME, THE SUBSEQUENT VARIATIO NS IN THE CLAIM MADE BY THE ASSESSEE AT THE TIME OF ASSESSMENT ARE NOT ELIG IBLE TO PENALTY U/S 271(1)(C). 4. FROM THE FACTS OF THIS CASE, IT CLEARLY EMERGES THAT THE ASSESSEE FILED RELEVANT DETAILS FOR CALCULATING DEDUCTION U/S 80HH C IN THE RETURN OF INCOME. THUS, RELEVANT DETAILS WERE PART OF THE DISCLOSURES MADE IN THE RETURN OF INCOME. IT IS COMMON KNOWLEDGE THAT THE ISSUE ABOU T CALCULATION OF 80HHC CLAIMS HAS BEEN SUBJECT MATTER OF INTENSE LITIGATIO N ON SO MANY ISSUES AND HAS BEEN ULTIMATELY SETTLED BY THE SUPREME COURT. THIS SCENARIO ALSO DEMONSTRATES THAT THE ISSUE IN QUESTION WAS DEBATAB LE ON VARIOUS FORUMS. ON THESE FACTS AND CIRCUMSTANCES, RELYING ON THE JUDGM ENT OF HONBLE SUPREME COURT IN THE CASE OF RELIANCE PETROPRODUCTS (SUPRA) AND THE FACTS THAT THE ISSUE IN QUESTION WAS HIGHLY DEBATABLE, WE ARE INCL INED TO DELETE THE PENALTY. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 28.3.2014. SD/- SD/- (G.D. AGRAWAL) (R.P. TOLANI) VICE PRESIDENT JUDICIAL MEMBER DT. 28TH MARCH 2014 GS ITA NO.2758/DEL/2013 ASSTT.YEAR: 1998-99 3 COPY FORWARDED TO:- 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR BY ORDER ASSTT. REGISTRAR