Shri Kishorbhai B.Satasiya, Ahmedabad V. The Income tax Officer,Ward-11(3), Ahmedabad

ITA 3063/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0015 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-11-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 23-09-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 23-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DEEPAK SUTARIA
• Assessee Lawyers: S V AGRAWAL
• Keywords: Unexplained investment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH AHMEDABAD BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI S. S. GODARA, JUDICIAL MEMBER. ITA NOS.3063 /AHD/2013 (ASSESSMENT YEAR:2008-09) KISHOR B. SATASIYA, PROP. M/S. KUNJ TEXTILES, B-59, MATRUSHAKTI SOCIETY, INDIA COLONY ROAD, BAPUNAGAR, AHMEDABAD 380024 APPELL ANT VS. INCOME TAX OFFICER, WARD - 11(3), NARAYAN CHAMBERS, ASHRAM ROAD, AHMEDABAD - 380009 RESPONDENT PAN: AZXPS2245R / BY ASSESSEE : SHRI S. V. AGRAWAL, A.R. / BY REVENUE : SHRI DEEPAK SUTARIA, SR. D.R. /DATE OF HEARING : 23.09.2016 /DATE OF PRONOUNCEMENT : 29.11.2016 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2008-09 ARISES AGAINST THE CIT(A)-XVI, AHMEDABADS ORDER DATED NOVEMBER 25 TH , 2013, IN APPEAL NO. CIT(A)-XVI/ITO/WD.11(3)/131/12-13, IN PROCEEDINGS U NDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961; IN SHORT TH E ACT. ITA NO.3063/AHD/2013 (KISHOR B. SATASIYA VS. ITO) A.Y. 2008-09 - 2 - 2. THE ASSESSEES SOLE SUBSTANTIVE GROUND CHALLENGE S ACTION OF BOTH THE LOWER AUTHORITIES IN IMPOSING THE IMPUGNED PENALTY OF RS.2,92,255/- U/S.271(1)(C) OF THE ACT. LD. COUNSEL REPRESENTING ASSESSEE SUBMITS THAT THE ABOVE PENALTY ARISES FROM UNEXPLAINED INVESTMENT AD DITION OF RS.9,14,150/- MADE BY THE ASSESSING OFFICER AS WELL AS CIT(A) IN QUANTUM PROCEEDINGS. HE THEREAFTER FILES BEFORE US THIS TRIBUNALS ORDER IN ASSESSEES QUANTUM APPEAL ITA NO.1442/AHD/2012 DECIDED ON 14.08.2015 R EMITTING THE ABOVE UNEXPLAINED INVESTMENT ISSUE BACK TO THE ASSESSING OFFICER FOR FRESH ADJUDICATION. LD. DEPARTMENTAL REPRESENTATIVE FAIL S TO REBUT THIS FACTUAL POSITION. 3. WE HAVE HEARD RIVAL SUBMISSIONS. IT HAS COME ON RECORD THAT THIS TRIBUNAL HAS ALREADY RESTORED BACK QUANTUM ISSUE OF UNEXPLAINED INVESTMENT FORMING THE VERY BASIS OF THE IMPUGNED PENALTY BACK TO THE ASSESSING OFFICER. WE OBSERVE IN THESE FACTS THAT THE INSTAN T APPEAL MUST ALSO FOLLOW THE SUIT AS THE VERY BASIS OF THE IMPUGNED PENAL AC TION NO MORE SURVIVES AS OF NOW. THE ASSESSING OFFICER SHALL BE AT LIBERTY TO INITIATE THE SAME AS PER LAW AFTER CONCLUSION OF THE CONSEQUENTIAL QUANTUM ASSES SMENT. 4. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. [PRONOUNCED IN THE OPEN COURT ON THIS THE 29 TH DAY OF NOVEMBER, 2016.] SD/- SD/- (N. K. BILLAIYA) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 29/11/2016 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ITA NO.3063/AHD/2013 (KISHOR B. SATASIYA VS. ITO) A.Y. 2008-09 - 3 - ( )* + ,--. . /0 / DR, ITAT, AHMEDABAD 1 + 23 4 5 / GUARD FILE. BY ORDER / . // . /0