SANDEEP SURANA, Ajmer V. ACIT, Ajmer

ITA 355/JPR/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 2134 (ITAT-JAIPUR)
• Duration Of Justice: 3 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 04-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R A VERMA CIT DHK
• Assessee Lawyers: SUDHEER SOGANI

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH HKKXPUN] YS[KK LNL; ,OA JH DQY HKKJR] U;KF;D LNL; DS LE{K BEFORE: SHRI BHAGCHAND, AM AND SHRI KUL BHARAT, JM VK;DJ VIHY LA-@ ITA NO. 355/JP/2017 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2011-12. SHRI SANDEEP SURANA, 3, RAJDEEP, SHASHTRI NAGAR, AJMER. CUKE VS. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-1, AJMER. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. ASXPS 8154 J VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI SUDHEER SOGANI (ADVOCATE) JKTLO DH VKSJ LS@ REVENUE BY : SHRI R.A. VERMA (ADDL. CIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 11.08.2017. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 16/08/2017. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), AJMER, DATED 16.03.2017 PERTAINING TO A.Y. 2011-12. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF AP PEAL :- 1. THAT THE LD. CIT(A) IS NOT JUSTIFIED IN SUSTAIN ING PENALTY LEVIED U/S 271A OF THE INCOME TAX ACT, 1961 AMOUNTING TO RS. 2 5,000/-. 2. THE ASSESSEE CRAVES TO ADD, AMEND, ALERT, AND IN SERT ANY GROUNDS BEFORE DISPOSAL OF APPEAL. 2. BRIEFLY STATED FACTS ARE THAT, THE PENALTY ORDER U/S 271A OF THE ACT PASSED ON 15/9/2015. ON THE BASIS THAT THE ASSESSEE FAILED T O KEEP AND MAINTAIN BOOKS OF ACCOUNTS AND OTHER DOCUMENTS AS REQUIRED U/S 44AA O F THE ACT. AGGRIEVED BY THIS, 2 ITA NO. 355/JP/2017. SHRI SANDEEP SURANA, AJMER. ASSESSEE PREFERRED AN APPEAL BEFORE LD. CIT(A), WHO AFTER CONSIDERING THE SUBMISSIONS DISMISSED THE APPEAL. 3. NOW, THE ASSESSEE IS IN APPEAL BEFORE THIS TRIBU NAL. 4. THE ONLY EFFECTIVE GROUND IS AGAINST SUSTAINING PENALTY U/S 271A OF THE ACT, AMOUNTING TO RS. 25,000/-. 4.1 LD. COUNSEL FOR THE ASSESSEE VEHEMENTLY ARGUED THAT THE AUTHORITIES BELOW WERE NOT JUSTIFYING IN LEVIED THE PENALTY AND CONFI RMING THE SAME. LD. COUNSEL SUBMITTED THAT IN THE ASSESSMENT ORDER PASSED U/S 1 43(3) OF THE INCOME TAX ACT, 1961, THE ASSESSMENT IS FRAMED ON THE BASIS ACCOUNT S MAINTAINED BY THE BANK STATEMENT. HE SUBMITTED THAT THERE IS NO MENTION O F NON-FURNISHING OF ACCOUNTS. THEREFORE, HE SUBMITTED THAT THE ASSESSING OFFICER ACCEPTED THE CONTENTIONS THAT THE ACCOUNTS WERE BEING MAINTAINED BY THE BROKER. 4.2 ON THE CONTRARY, LD. DEPARTMENTAL REPRESENTATIV ES OPPOSED THE SUBMISSIONS. WE HAVE HEARD THE RIVAL CONTENTIONS, PERUSED THE MA TERIAL AVAILABLE ON RECORD. THE LD. CIT(A) HAS DECIDED THE ISSUE BY THE OBSERVING A S UNDER:- 4.3 I HAVE GONE THROUGH THE PENALTY ORDER, STATEME NT OF FACTS, GROUNDS OF APPEAL AND WRITTEN SUBMISSION CAREFULLY. IT IS SEE N THAT THE APPELLANT HAD TURNOVER OF RS. 82,78,53,539/-. HE WAS REQUIRED TO KEEP AND MAINTAIN THE BOOKS OF ACCOUNTS AND OTHER DOCUMENTS AS REQUIRED U /S 44AA. THE APPELLANT HAS NOT MAINTAINED THE BOOKS OF ACCOUNTS. NO REASO NABLE CAUSE FOR NON MAINTENANCE OF BOOKS OF ACCOUNTS HAS BEEN GIVEN BY THE APPELLANT. THEREFORE, I AM OF THE CONSIDERED VIEW THAT THE AO HAS RIGHT LEVIED THE PENALTY U/S 271A. ACCORDINGLY, THE PENALTY OF RS. 25,000/- LEVIED BY THE AO U/S 271A IS HEREBY CONFIRMED. 3 ITA NO. 355/JP/2017. SHRI SANDEEP SURANA, AJMER. 4.3 ADMITTEDLY, THE ASSESSEE IS NOT MAINTAINING ANY BOOKS OF ACCOUNTS. UNDISPUTEDLY, THE TRANSACTIONS DURING THE YEAR UNDE R CONSIDERATION WAS OF RS. 83,63,82,459/. AS PER SECTION 44AA(2), IF INCOME F ROM BUSINESS OR PROFESSION EXCEEDS RS. 1 LACS OR HIS TOTAL SALES, TURNOVER OR GROSS RECEIPTS, AS THE CASE MAY BE, IN BUSINESS OR PROFESSION EXCEED OR EXCEEDS 10 LACS RUPEES IN ANY ONE OF THE 3 YEARS IMMEDIATELY PRECEDING THE PREVIOUS YEARS IS REQUIRE D TO MAINTAIN SUCH A BOOKS OF ACCOUNTS AND OTHER DOCUMENTS AS MAY ENABLE THE ASSE SSING OFFICER TO COMPUTE THE TOTAL INCOME IN ACCORDANCE WITH THE PROVISION OF TH E ACT. NON MAINTENANCE OF ACCOUNTS IN TERMS OF THE PROVISION OF SECTION 44AA ATTRACTS PENALTY U/S 271A. THE ASSESSEE HAS NOT DEMONSTRATED AS HOW HE IS NOT REQU IRED TO MAINTAIN BOOKS OF ACCOUNTS. THEREFORE, WE DO NOT SEE ANY REASON TO I NTERFERE INTO THE FINDING OF THE LD. CIT(A), SAME IS HEREBY AFFIRMED. THIS GROUND O F ASSESSEES APPEAL IS DISMISSED. IN THE RESULT, APPEAL OF THE ASSESSEE IN ITA NO. 35 5/JP/2017 IS DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON WEDNESDAY, THE 16 TH DAY OF AUGUST 2017. SD/- SD/- ( HKKXPUN ( DQY HKKJR ) ( BHAGCHAND) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 16/08/2017. POOJA/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- SHRI SANDEEP SURANA, AJMER. 2. THE RESPONDENT ACIT, CIRCLE-1, AJMER. 3. THE CIT(A). 4. THE CIT, 4 ITA NO. 355/JP/2017. SHRI SANDEEP SURANA, AJMER. 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (ITA NO. 355/JP/2017) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR