M/s. Royal Distributors, Surat V. The Income tax Officer,Ward-6(4), Surat

ITA 2855/AHD/2012

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 67829 (ITAT-AHMEDABAD)
• Duration Of Justice: 10 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 22-10-2013
• Assessment Year: 2006-2007
• Appeal Filed On: 20-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: O P BATHEJA
• Assessee Lawyers: V V SHAH
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER AND SHRI N.S. SAINI, ACCOUNTANT MEMBER ITA NO.2855/AHD/2012 A.Y. 2006-07 M/S. ROYAL DISTRIBUTORS, C/O. MADHV & ASSOCIATES CHARTERED ACCOUNTANTS, S-124/125 BELGIUM SQUARE, OPP. LINEAR BUS STAND, NEAR DELHI GATE SURAT PAN: AAHFR7678A VS INCOME TAX OFFICER, WARD 6(4), SURAT. (APPELLANT) (RESPONDENT) REVENUE BY : SHRI O.P. BATHEJA, SR.D.R. , ASSESSEE(S) BY : SHRI V.V. SHAH, A.R. / DATE OF HEARING : 22/10/2013 / DATE OF PRONOUNCEMENT: 25/10/2013 / O R D E R PER SHRI MUKUL KUMAR SHRAWAT, JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE EMANATING F ROM THE ORDER OF LEARNED CIT(A)-I, SURAT, DATED 19.11.2012 AND THE O NLY GROUND IS IN RESPECT OF CONFIRMATION OF PENALTY LEVIED U/S. 271( 1)(C) OF IT ACT. 2. WE HAVE NOTED THAT THROUGH AN ORDER U/S. 271(1)( C), DATED 30 TH OF MARCH, 2011 AND AS PER THE CORRESPONDING ASSESSMENT ORDER PASSED U/S. 143(3) DATED 29.12.2008, THE IMPUGNED PENALTY WAS L EVIED IN RESPECT OF CAPITAL INTRODUCED BY THE PARTNERS. NOW BEFORE US A N ORDER OF RESPECT CO- ORDINATE BENCH A ITAT, AHMEDABAD, DATED 31 ST OF JANUARY, 2013 HAS BEEN PLACED WHEREIN IN ITA NO.682 & 1092/AHD/2010 T ITLED AS M/S. ITA NO.2855/ AHD/2012 M/S. ROYAL DISTRIBUTORS VS. ITO, SURAT. FOR A.Y. 2006-07 - 2 - ROYAL DISTRIBUTORS VS. ITO SURAT, THE IMPUGNED ADDI TION WAS DELETED IN RESPECT OF THE CAPITAL INTRODUCED BY THE PARTNERS I N THE ASSESSEE FIRM. SINCE, THE IMPUGNED ADDITION DOES NOT SURVIVE; THER EFORE, IN CONSEQUENCE THEREUPON THE PENALTY IN QUESTION SHOULD ALSO NOT S URVIVE. RESULTANTLY, THE FINDING OF LEARNED CIT(A) IS HEREBY REVERSED AN D THE PENALTY IN QUESTION IS HEREBY DIRECTED TO BE DELETED. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. SD/- SD/- (N.S. SAINI) (MUKUL KR. SHRAWAT) ACCOUNTANT MEMBER JUD ICIAL MEMBER AHMEDABAD; DATED 25/10/2013 PRABHAT KR. KESARWANI, SR. P.S. TRUE COPY TRUE COPY TRUE COPY TRUE COPY / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A)-III, AHMEDABAD 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE. / BY ORDER, / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD