M/s. Positive Print Sign Graphic, Ahmedabad V. The Dy.CIT.,Circle-10, Ahmedabad

ITA 292/AHD/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8692 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 05-02-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ILA PARMAR
• Assessee Lawyers: VINEETA BHURA
• Keywords: Unexplained cash credit

Judgement Text

I.T.A. NO. 292 /AHD/201 6 ASSESSMENT Y EAR: 20 08 - 09 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD SMC BENCH, AHMEDABAD [CORAM : PRAMOD KUMAR AM ] I.T.A. NO. 292 /AHD/201 6 ASSESSMENT Y EAR : 20 08 - 09 POSITIVE PRINT SIGN GRAPHIC, ....... ...........APPELLANT CELLAR, GOYAL TOWER, OPP. GULBHAI TEKRA PO LICE CHOWKY, AHMEDABAD . [PAN : A AHFP 8504 B ] VS. DY. COMMISSIONER OF INCOME T AX, CIRCLE - 10 , AHMEDABAD . ............................RESPONDENT APPEARANCES BY: VINEETA BHURA FOR THE APPELLANT ILA PARMAR FOR THE RESPONDENT DATE OF CONCL UDING THE HEARING : 2 4 . 08 .2017 DATE OF PRONOUNCING THE ORDER : 28 . 08 . 2017 O R D E R 1. THIS APPEAL , FILED BY THE ASSESSEE, IS DIRECTED AGAINST LEARNED CIT(A) S ORDER DATED 17 TH DECEMBER 2015 , FOR THE ASSESSMENT YEAR 20 08 - 09 . 2. GRIEVANC E S RAISED BY THE ASSESSEE APPELLANT ARE AS FOLLOWS : - 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN UPHOLDING THE PENALTY OF RS.16,78,035/ - UNDER SECTION 271(1)(C) FOR FURNISHING INACCURATE PARTICULARS OF INCOME WITHOUT CONSIDERING THE DOCUMENTS PLAC ED BEFORE HIM AND WITHOUT PROPERLY APPRECIATING THE FACTS OF THE APPELLANT. 2. HE HAS ERRED IN LAW AND ON FACTS IN UPHOLDING THAT FOR ADDITION OF UNEXPLAINED CASH CREDIT, IN A CCURATE PARTICULARS HAS BEEN FURNISHED BY THE APPELLANT WITHOUT PROPERLY APPRECIA TING AND CONSIDERING THE FACTS OF THE APPELLANT. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, NO PENALTY UNDER SECTION 271(1)(C ) FOR FURNISHING INACCURATE PARTICULARS OUGHT TO HAVE BEEN LEVIED. I.T.A. NO. 292 /AHD/201 6 ASSESSMENT Y EAR: 20 08 - 09 PAGE 2 OF 2 3. WHEN THIS APPEAL WAS CALLED OUT FOR HEARING, LE ARNED COUNSEL FOR THE ASSE SSEE INVITED MY ATTENTION TO TH E FACT THAT, VIDE ORDER DAT E D 25.05. 2016, THIS TRIBUNAL H A S REMITTED THE MATTER, FOR ADJUDICATION ON CORRECTNESS OF RELATED QUANTUM ADDITIONS, TO THE FILE OF THE LEARNED CIT ( A ) . I AM , THEREFORE, URG ED TO REMIT THIS APPEAL TO THE FILE OF THE LEARNED CIT(A) FOR FR E SH ADJUDICATION, AFTER A DECISION ON THE CORRECTNESS OF R ELATED QUANTUM ADDITIONS . LEARNED DEPART MENTAL REPRESENTATIVE DOES NOT OPPOSE T HE PRAYER. 4. IN VIEW OF THE ABOVE DISCUSSIONS, I D EE M IT FIT AND PROPER TO REMIT THIS APPEAL TO THE FILE OF THE LEARNED CIT(A) FOR FRESH ADJUDICATION AFTER A DECISION ON CORRECTNESS OF THE RELATED QUANTUM ADDITIONS BY THE LEARNED CIT(A). ORDERED, ACCORDINGLY. 5 . IN THE RESULT, THE APP E AL IS ALLOWED FOR ST ATISTICAL PURPOSES PR O NOUNCED IN THE OPEN COURT TODAY ON THE 28 TH DAY OF AUGUST 2017. SD/ - PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: AHMEDABAD, THE 28 TH DAY OF AUGUST , 2017. 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