The DCIT,(OSD)Circle-8, Ahmedabad V. Shree Prakash Textile Guj. Pvt. Ltd., Ahmedabad

ITA 311/AHD/2010

• Counselvise Citation: 31120514 RSA 2010
• Duration Of Justice: 2 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-05-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 21-05-2012
• Assessment Year: 2003-2004
• Appeal Filed On: 01-02-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S P TALATI
• Assessee Lawyers: ANAND P SHAH
• Keywords: Wrong claim
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH AHMEDABAD (BEFORE SHRI D. K. TYAGI, JM AND A. MOHAN ALANKAMON Y, AM) ITA NO.311/AHD/2010 A. Y.: 2003-04 THE D. C. I. T. (OSD), CIR-8, 4 TH FLOOR, AJANTA COMMERCIAL CENTRE, A WING, ASHRAM ROAD, AHMEDABAD VS SHREE PRAKASH TEXTILES PVT. LTD., LAXMI VIJAY MILL COMPOUND, NARODA ROAD, AHMEDABAD PA NO. AADCS 8691 M (APPELLANT) (RESPONDENT) APPELLANT BY SHRI S. P. TALATI, SR. DR RESPONDENT BY SHRI ANAND P. SHAH, AR DATE OF HEARING: 21 -05-2012 DATE OF PRONOUNCEMENT: 25-05-2012 O R D E R PER A. MOHAN ALANKAMONY: THIS APPEAL IS FILED BY THE REVENUE AGGRIEVED BY THE ORDER OF THE LEARNED CIT(A )-XIV, AHMEDABAD IN APPEAL NO. CIT(A)-XIV/ACIT CIR.8/71/09 -10 DATED 30 TH NOVEMBER, 2009, FOR ASSESSMENT YEAR 2003-04 DELETIN G THE PENALTY U/S 271 (1) ( C ) OF THE IT ACT. 2. THE ASSESSEE IS A PRIVATE LIMITED COMPANY ENGAGED IN THE BUSINESS OF MANUFACTURING, PROCESSING AND JOB WORK OF COTTON YARN, COTTON AND SYNTHETIC FABRICS. THE ASSESSEE FILED IT S RETURN OF INCOME ON 27-11-2003 DECLARING TOTAL INCOME OF RS.46,82,56 4/-. THE CASE WAS SELECTED FOR SCRUTINY AND ORDER U/S 143(3) OF T HE ACT WAS PASSED ITA NO.311/AHD/2010 (AY: 2003-04) DCIT (OSD), CIR-8, AHMEDABAD VS SHREE PRAKASH TEXTI LES PVT. LTD. 2 ON 07-03-2006 WHEREIN CERTAIN ADDITIONS WERE MADE A ND PENALTY PROCEEDINGS WERE INITIATED U/S 271 (1) (C) OF THE A CT. 3. IN THE PENALTY PROCEEDINGS THE LEARNED AO LEVIED PENALTY OF RS.2,78,200/- FOR FURNISHING INACCURATE PARTICULARS OF INCOME FOR AN AMOUNT OF RS.7,81,490/- BEING THE WRONG CLAIM OF BA D DEBTS ON REALIZABLE AND GOOD DEBTS. IN APPEAL, THE LEARNED C IT(A) DELETED THE PENALTY ON MERITS, BECAUSE THE LEARNED CIT(A) IN QU ANTUM APPEAL HAD DELETED THE ADDITION WITH THE FINDING THAT THE DEBTS TO BE GENUINE AND NOT REALIZABLE. 4. WE HAVE HEARD BOTH THE PARTIES AND CAREFULLY PER USED THE MATERIALS ON RECORD. FROM THE FACTS, IT IS EVIDENT THAT THE LEARNED CIT(A) IN THE QUANTUM APPEAL HAD DELETED THE ADDITI ON. FURTHER, THE LEARNED DR DID NOT BRING ANYTHING ON RECORD TO SHOW THAT THE REVENUE IS ON APPEAL AGAINST THE ORDER OF THE LEARNED CIT(A ) DELETING THE ADDITION IN QUANTUM APPEAL. THEREFORE, WE HEREBY DI SMISS THE APPEAL OF THE REVENUE. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 25-05-2012 SD/- SD/- (D. K. TYAGI) JUDICIAL MEMBER (A. MOHAN ALANKAMONY) ACCOUNTANT MEMBER LAKSHMIKANT DEKA/ LAKSHMIKANT DEKA/ LAKSHMIKANT DEKA/ LAKSHMIKANT DEKA/ ITA NO.311/AHD/2010 (AY: 2003-04) DCIT (OSD), CIR-8, AHMEDABAD VS SHREE PRAKASH TEXTI LES PVT. LTD. 3 COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) CONCERNED 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE BY ORDER D Y. REGISTRAR, ITAT, AHMEDABAD 1. DATE OF DICTATION: 21-05-12 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER: 22-05-12 OTHER MEMBER: 3. DATE ON WHICH APPROVED DRAFT COMES TO THE SR.P.S ./P.S.: 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT: 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S./P.S.: 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK: 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK: 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER: 9. DATE OF DESPATCH OF THE ORDER: