M/s AKM Shares & Stocks (P) Ltd., Chandigarh V. ITO, Chandigarh

ITA 3/CHANDI/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 95628 (ITAT-CHANDIGARH)
• Duration Of Justice: 9 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-10-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 12-10-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 05-01-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRS RAJINDER KAUR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH,CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS.RANO JAIN, ACCOUNTANT MEMBER ITA NO. 3/CHD/2015 ASSESSMENT YEAR: 2005-06 M/S AKM SHARES & STOCKS (P) LTD. VS THE ITO, SCO 140-141, WARD 4(3), SECTOR 34-A, CHANDIGARH. CHANDIGARH. PAN: AAECA7225Q (APPELLANT) (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY : MRS. RAJINDER KAUR DATE OF HEARING : 12.10.2015 DATE OF PRONOUNCEMENT : 12.10.2015 O R D E R PER BHAVNESH SAINI,JM THIS APPEAL BY ASSESSEE IS DIRECTED AGAINST THE ORD ER OF LD. CIT(APPEALS) CHANDIGARH DATED 03.11.2014 FOR ASSESSMENT YEAR 2005-06, CHALLENGING THE LEVY OF PE NALTY UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE DESPITE SERVICE OF THE NOTICE. IT, THEREFORE, APPEARS THAT ASSESSEE IS NO MORE INTERESTED IN PROSECUTING THE APPEAL. THEREFORE, APPEAL OF THE ASSESSEE IS LIABLE TO BE DISMISSED IN LIMINE. 3. IN OUR ABOVE VIEW, WE GET SUPPORT FROM THE DECI SION OF THE APEX COURT IN THE CASE OF CIT V. B.N. BHATTACHA RGEE AND 2 ANOTHER, REPORTED IN 118 ITR 46L [RELEVANT PAGES 47 7 & 478] WHEREIN THEIR LORDSHIPS HAVE HELD THAT: THE APPEAL DOES NOT MEAN MERELY FILING OF THE APPEAL BUT EFFECTIVELY PURSUING IT. 4. OUR VIEW FURTHER FINDS SUPPORT FROM THE FOLLOWIN G DECISIONS ALSO: I) CIT V. MULTIPLAN INDIA (P) LTD: 38 ITD 320 (DE L) II) ESTATE OF LATE TUKOJIRAO HOLKAR V. CWT: 223 ITR 480(MP) 5. RESPECTFULLY FOLLOWING THE DECISIONS [SUPRA], WE DISMISS THE INSTANT APPEAL FILED BY THE ASSESSEE FOR NON-PR OSECUTION. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 12 TH OCTOBER,2015. SD/- SD/- (RANO JAIN) (B HAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 12 TH OCTOBER,2015. POONAM COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT(A), THE CIT, DR ASSISTANT REGISTRAR, ITAT CHANDIGARH