M/s. Shri Arihant Gases, Bhavnagar V. The Income tax Officer,Ward-2(2), Bhavnagar

ITA 3354/AHD/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 72873 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 21-01-2014
• Assessment Year: 2005-2006
• Appeal Filed On: 20-12-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: O P BATHEJA
• Section: 69C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH BEFORE: SRI D.K TYAGI, JUDICIAL MEMBER AND SHRI T.R.MEENA, ACCOUNTANT MEMB ER M/S SHRI ARIHANT GASES LOKHANDBAZAR, BHAVNAGAR PAN: AAKFAD455K (APPELLANT) VS INCOME-TAX OFFICER, WARD-2(2) BHAVNAGAR (RESPONDENT) REVENUE BY: SRI O.P.BATHEJA, SR.D.R. ASSESSEE BY: SRI TUSHAR P. HEMANI, A .R. DATE OF HEARING : 21-01-2014 DATE OF PRONOUNCEMENT : 21-01-20 14 / ORDER PER : D.K. TYAGI, JUDICIAL MEMBER:- THIS IS THE ASSESSEES APPEAL AGAINST THE ORDER OF LD. CIT(A)-XX, AHMEDABAD DATED 22-09-2010 CONFIRMING THE PENALTY L EVIED BY AO U/S. 271 (1)(C) OF THE ACT. ITA NO.3354/AHD/2010 ASSESSMENT YEAR 2005-06 I.T.A NO.3354/AHD/2010 A.Y. 2005-06 PAGE NO M/S SRI ARIHANT GASES VS. ITO 2 2. AT THE TIME OF HEARING LEARNED COUNSEL OF THE AS SESSEE AT THE OUTSET SUBMITTED THAT PENALTY U/S. 271(1)(C) OF THE ACT IN THIS CASE WAS LEVIED BY AO ON THE ADDITION OF RS. 6,44,800/- MADE BY HIM U/ S. 69C OF THE ACT. SINCE IN THE QUANTUM PROCEEDINGS, THE MATTER HAS BE EN RESTORED BACK TO THE FILE OF AO FOR FRESH ADJUDICATION BY HOBBLE ITAT V IDE ITS ORDER DATED 24 TH JUNE, 2011 IN ITA NO. 1151/AHD/2009, THIS PENALTY D OES NOT SURVIVE AND THE SAME MAY KINDLY BE DELETED. IN VIEW OF THIS, THE P ENALTY IMPOSED BY AO AND SUSTAINED BY LD. CIT(A) IS HEREBY DELETED. HOW EVER IT IS MADE CLEAR THAT AO WILL BE FREE TO INITIATE PENALTY PROCEEDING S AFTER THE SET ASIDE PROCEEDINGS IF HE IS SO SATISFIED. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE AT CAPTION PAGE SD/- SD/- (T.R.MEENA) ( D.K. TYAGI) ACCOUNTANT MEMBER J UDICIAL MEMBER AHMEDABAD : DATED 21/01/2014 AK / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,