Sri.E.Ummer Bava, Malappuram V. The ACIT, Tirur

ITA 357/COCH/2015

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9698 (ITAT-COCHIN)
• Duration Of Justice: 5 year(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-07-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 06-07-2020
• Assessment Year: 2005-2006
• Appeal Filed On: 22-06-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: MRITUNJAYA SHARMA
• Assessee Lawyers: RAGHUNATHAN P
• Section: 271(1)(c); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM I TA NO. 357 /COCH/20 15 : ASST.YEAR 2005 - 2006 SRI.E.UMMER BAVA C/O . RAGHUNATH & ASSOCIATES, ADVOCATES SREYAS, NEAR LIONS HALL, RAJIV NAAGAR, THIRUTHIYAD CALICUT 673 001. PAN : ADKPB9071F. VS. THE ASST.COMMISSIONER OF INCOME - TAX, CIRCLE 1 TIRUR. (APPELLANT) (RESPONDENT) APPELLANT BY : SRI. RAGHUNATH AN P RESPONDENT BY : SRI.MRITUNJAYA SHARMA, CIT - DR DATE OF HEARING : 07 .07.2020 DATE OF PRONOUNCEMENT : 07 . 07.2020 O R D E R PER GEORGE GEORGE K, JM THIS APPEAL AT THE INSTANCE OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE CIT (APPEALS) DATED 20.03.2015 . THE RELEVANT ASSESSMENT YEAR IS 2005 - 2006 . 2. THE SOLITARY ISSUE RAISED IS WHETHER THE CIT(A) IS JUSTIFIED IN CONFIRMING THE IMPOSITION OF PENALTY U/S 271(1)(C) OF THE I.T.ACT. 3. AT THE VERY OUTSET, WE NOTICED THAT AS REGARDS THE QUANTUM ASSESSMENT, THE ASSESSEE HAS SUCCEEDED BEFORE THE HONBLE APEX COURT (CIVIL APPEAL NO.1246 OF 2020 JUDGMENT DATED FEBRUARY 7, 2020). THE HONBLE APEX COURT, OUT OF THE TOTAL ADDITION OF RS.37 LAKH IN THE QUANTUM ASSESSMENT, HAD I TA NO. 357 / COCH /20 15 SRI.E.UMMER BAVA . 2 DELETED RS.35 LAKH BEING THE ADDITION MADE U/S 68 OF THE I.T.ACT. SINCE THE HONBLE APEX COURT HAD DELETED THE ADDITION OF RS.35 LAKH, THE PENALTY WITH REFERENCE TO THE SAID ADDITION, NECESSARILY HAVE TO BE DELETED. AS REGARD S THE ADDITION OF RS.2 LAKH, THE SAME HAS ATTAINED FINALITY IN THE QUANTUM ASSESSMENT, HENCE, PENALTY ON THE QUANTUM ADDITION OF RS.2,00,000 IS TO BE SUSTAINED. IT IS ORDERED ACCORDINGLY. 4 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLO WED . ORDER PRONOUNCED ON THIS 07 TH DAY OF JULY, 2019 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 07 TH JULY, 2019 . DEV A DAS G * COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, COCHIN 1. THE APPELLANT 2. THE RESPONDENT. 3. THE PR.CIT, KOCHI. 4. THE CIT (A), KOZHIKODE . 5. DR, ITAT, COCHIN 6 . GUARD FILE.