Apex Therm Packaging Pvt.Ltd., Surat V. The Income tax Officer,Ward-1(1), Surat

ITA 3224/AHD/2011

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 89706 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 6 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 18-06-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 22-12-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Section: 68

Judgement Text

, A IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI N.S. SAINI, ACCOUNTANT MEMBER AND SHRI S.S. GODARA, JUDICIAL MEMBER ./ ITA NO.3224/AHD/2011 / ASSESSMENT YEAR: 2006-2007 APEX TERM PACKAGING P. LTD. 5006, TRADE HOUSE RING ROAD SURAT 395 002. PAN : AAECA 0982 C VS ITO, WARD-1(1) SURAT. ! / (APPELLANT) '# ! / (RESPONDENT) ASSESSEE(S) BY : NONE (WRITTEN SUBMISSIONS) REVENUE BY : SHRI DINESH SINGH, SR.DR / DATE OF HEARING : 18/06/2015 / DATE OF PRONOUNCEMENT: 24/06/2015 $%/ O R D E R PER N.S. SAINI, ACCOUNTANT MEMBER: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT( A)-I, SURAT DATED 17.11.2011. 2. THE SOLE GROUND OF APPEAL TAKEN BY THE ASSESSEE IS THAT THE CIT(A) ERRED IN SUSTAINING PENALTY OF RS.71,281/- U NDER SECTION 271(1)(C) OF THE ACT IN RESPECT OF ADDITION MADE U/ S.68 OF THE ACT. 3. THE ASSESSEE HAS FILED WRITTEN SUBMISSION WHEREI N IT IS STATED THAT IN THE QUANTUM APPEAL FILED BY THE ASSE SSEE AGAINST THE ADDITION, THE TRIBUNAL IN ITA NO.253/AHD/2010 AND CO ITA NO.3224/AHD/2011 2 NO.33/AHD/2010 DATED 13.12.2013 HAS RESTORED THE MA TTER BACK TO THE FILE OF AO FOR ADJUDICATION OF THE ISSUE OF AMOUNT ADVANCED TO SHRI OM PRAKASH SHARMA OF RS.2 LAKHS, FOR WHICH THE ADDITION WAS MADE UNDER SECTION 68 OF THE ACT, AFRESH. IT I S, THEREFORE, THE SUBMISSIONS OF THE ASSESSEE THAT THE ISSUE OF LEVY OF PENALTY SHOULD ALSO BE RESTORED BACK TO THE FILE OF AO FOR ADJUDICATION AFRESH BY THE AO AFTER PASSING OF THE ORDER IN THE SET ASIDE PROCEEDINGS. 4. THE DR HAD NO OBJECTION TO THIS SUBMISSION OF TH E ASSESSEE. 5. AFTER CONSIDERING SUBMISSIONS OF THE PARTIES AND PERUSAL OF THE MATERIALS ON RECORD, WE FIND THAT THE ISSUE OF ADVANCE OF RS.2 LAKHS ADVANCED TO SHRI OM PRAKASH SHARMA FOR WHICH THE ADDITION UNDER SECTION 68 WAS MADE BY THE AO, HAS BEEN RESTO RED BY THE TRIBUNAL TO THE FILE OF THE AO FOR ADJUDICATION OF THE SAME AFRESH. THEREFORE, THE ISSUE OF LEVY OF PENALTY IS SET ASID E TO THE FILE OF THE AO FOR ADJUDICATION OF THE SAME IN THE LIGHT OF THE DECISION TAKEN IN THE SET ASIDE PROCEEDINGS IN THE QUANTUM ADDITIO N. THUS, THIS GROUND OF APPEAL OF THE ASSESSEE IS ALLOWED FOR STA TISTICAL PURPOSE. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE COURT ON WEDNESDAY THE 24 TH JUNE, 2015 AT AHMEDABAD. SD/- SD/- (S.S. GODARA) JUDICIAL MEMBER ( N.S. SAINI) ACCOUNTANT MEMBER AHMEDABAD; DATED 24/06/2015