I.T.O.-5(1), Firozabad V. M/s Aman Cold Storage Pvt.Ltd., Firozabad

ITA 353/AGR/2013

• Counselvise Citation: 35320314 RSA 2013
• Duration Of Justice: 2 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-01-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 28-01-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 25-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: WASEEM ARSHAD
• Assessee Lawyers: R K AGARWAL
• Keywords: Reopening of assessment; Unexplained investment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER ITA NO. 352 & 353/AGRA/2013 ASSTT. YEAR : 2006-07 & 2008-09 INCOME-TAX OFFICER, VS. M/S. AMAN COLD STORAGE PV T. LTD., 5(1), FIROZABAD. AGRA GATE SHIKOHABAD, DISTT. FIROZABAD. (PAN : AAFCA 0965 Q) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI WASEEM ARSHAD, SR. D.R. RESPONDENT BY : SHRI R.K. AGARWAL, ADVOCATE DATE OF HEARING : 28.01.2014 DATE OF PRONOUNCEMENT OF ORDER : 28.01.2014 ORDER PER BHAVNESH SAINI, J.M.: BOTH THE APPEALS BY THE REVENUE ARE DIRECTED AGAIN ST DIFFERENT ORDERS OF LD. CIT(A)-II, AGRA DATED 26.08.2013 AND 08.08.2013 FOR THE ASSESSMENT YEAR 2006-07 AND 2008-09 RESPECTIVELY, CHALLENGING THE ORDERS OF LD. CIT(A) IN CANCELLING THE PENALTY U/S. 271(1)(C) OF THE IT ACT LEVIED ON THE ADDITION OF RS.70,43,756/- AND RS.20,55,830/- ON ACCOUNT OF UNEXPLAINED INVESTMENT IN CONSTRUCTION OF COLD STORAGE BUILDING. 2. THE LD. CIT(A) NOTED IN THE IMPUGNED ORDER THAT ITAT, AGRA BENCH VIDE ORDER DATED 03.05.2013 QUASHED THE REASSESSMENT PROCEEDIN G AND THE ABOVE ADDITIONS, ON WHICH THE PENALTY WAS IMPOSED HAVE BEEN DELETED. TH EREFORE, NOTHING SURVIVES IN ITA NO. 352 & 353/AGRA/2013 2 FAVOUR OF THE REVENUE DEPARTMENT TO LEVY THE PENALT Y. THE APPEALS OF THE ASSESSEE WERE ACCORDINGLY ALLOWED ON THIS ISSUE. 3. THE LD. COUNSEL FOR THE ASSESSEE PLACED ON RECOR D COPY OF ORDER OF ITAT, AGRA BENCH DATED 03.05.2013 IN THE CASE OF SAME ASSESSEE IN ITA NOS. 70, 71 AND 72 OF 2013 FOR THE ASSESSMENT YEARS 2006-07, 2008-09 AND 2009-10 IN WHICH BOTH THE ADDITIONS ON WHICH THE PENALTY WAS IMPOSED HAVE BEE N DELETED ON QUASHING THE REOPENING OF ASSESSMENT. HE HAS ALSO SUBMITTED THAT THE AFORESAID ORDER OF THE TRIBUNAL DATED 03.05.2013 HAS ALSO BEEN CONFIRMED B Y THE HONBLE ALLAHABAD HIGH COURT BY DISMISSING THE DEPARTMENTAL APPEALS VIDE J UDGMENT DATED 31.10.2013. COPY IS PLACED ON RECORD. IN VIEW OF THE ABOVE, IT IS CL EAR THAT THE ADDITIONS ON WHICH THE PENALTY WAS LEVIED DID NOT SURVIVE. THEREFORE, THER E IS NO QUESTION OF LEVY OF PENALTY AGAINST THE ASSESSEE. BOTH THE DEPARTMENTAL APPEALS HAVE NO MERITS AND ARE ACCORDINGLY DISMISSED. 4. IN THE RESULT, BOTH THE DEPARTMENTAL APPEALS ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (PRAMOD KUMAR) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER *AKS/- COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A), CONCERNED BY ORDER 4. CIT, CONCERNED 5. DR, ITAT, AGRA 6. GUARD FILE SR. PRIVATE SECRETARY TRUE COPY