Punjabi Co-operative House Building Society, Chandigarh V. DCIT, Mohali

ITA 287/CHANDI/2015

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5148 (ITAT-CHANDIGARH)
• Duration Of Justice: 3 year(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 17-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHISH ABROL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH B, CHANDIGARH BEFORE MS. DIVA SINGH, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA NO. 287/CHD/20 15 ASSESSMENT YEAR: 2007-08 PUNJABI CO-OPERATIVE HOUSE VS THE DCIT, BUILDING SOCIETY, CIRCLE 6(1), VILLAGE-KANSAL, MOHALI. MOHALI. (PRESENT ADD: MLA FLAT NO.1, SECTOR 3, CHANDIGARH. PAN NO. : AAATP6854D (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI TEJ MOHAN SINGH RESPONDENT BY : SHRI ASHISH ABROL, CIT-DR DATE OF HEARING : 21.02.2018 DATE OF PRONOUNCEMENT : 20.03.2018 ORDER PER DIVA SINGH,JM THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE ASSA ILING THE CORRECTNESS OF THE ORDER DATED 28.01.2015 OF CIT(APPEALS )-2 CHANDIGARH PERTAINING TO 2007-08 ASSESSMENT YEARS WHEREIN THE PEN ALTY IMPOSED UPON THE ASSESSEE HAS BEEN UPHELD. . 2. THE LD. AR INVITING ATTENTION TO ORDER DATED 05.01.2018 IN THE CASE OF THE ASSESSEE WHEREIN THE ISSUES RAISED BY THE ASSESS EE AND THE REVENUE IN ITA 310/2012 AND ITA 556/CHD/2012 HAVE BEEN RESTO RED BACK TO THE FILE OF THE AO. ACCORDINGLY, IT WAS HIS PRAYER THAT THE PE NALTY ORDER CAN NOT SURVIVE. THE LD. CIT-DR CONSIDERING THE SUBMISSIONS A ND ON GOING THROUGH THE AFORESAID ORDER OF THE ITAT PASSED IN THE Q UANTUM PROCEEDINGS IN THE YEAR UNDER CONSIDERATION DID NOT RAISE ANY OBJECTION OPPOSING THE SUBMISSION MADE. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. ON CONSIDERATION OF THE AFORESAID ORDER OF THE IT AT, THE APPEAL OF THE ASSESSEE IS ALLOWED AS THE OCCASION TO CONSIDER THE IMPOSITION OF ITA 287/CHD/2015 A.Y. 2007-08 PAGE 2 OF 2 PENALTY DOES NOT ARISE ONCE THE ORDER ON THE BASIS OF WHICH PENALTY HAS BEEN IMPOSED ITSELF IS SET ASIDE. SAID ORDER WAS PRONOUNCE D IN THE OPEN COURT AT THE TIME OF HEARING ITSELF. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 20.03. 2018. SD/- SD/- (ANNAPURNA GUPTA) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER POONAM COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR ASSTT. REGISTRAR ITAT,CHANDIGARH.