M/s. Paras Finvest Private Limited , Kolkata V. ITO, Ward - 12(1), Kolkata , Kolkata

ITA 408/KOL/2018

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 8911 (ITAT-KOLKATA)
• Duration Of Justice: 9 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 12-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S HALDER
• Section: 271(1)(b); 142(1)

Judgement Text

, D , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH D KOLKATA BEFORE SHRI J.SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER ITA NO.408/KOL/2018 ASSESSMENT YEAR: 2012-13 M/S PARAS FINVEST PVT. LTD. 44/2A,HAZRA ROAD, KOLKATA-700 019 [ PAN NO.AABCP 8232 F ] / V/S . INCOME TAX OFFICER, WARD-12(1), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI SUNIL SURANA, ADVOCATE /BY RESPONDENT SHRI S. HALDER, SR. DR /DATE OF HEARING 19-12-2018 /DATE OF PRONOUNCEMENT 26-12-2018 /O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-4, KOLKATAS O RDER DATED 01.02.2018 PASSED IN CASE NO.1309/CIT(A)-4/KOL/W.12(1)/2015-16 UPHOLD ING ASSESSING OFFICERS ACTION IMPOSING PENALTY OF 10,000/- INVOLVING PROCEEDINGS 271(1)(B) OF THE INC OME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE(S) PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE RAISED IN THE IN THE INSTANT APPEAL CHALLENGES BOTH THE LOWER AUTHORITIES ACTION IMPOS ING U/S 271(1)(B) PENALTY OF ITA NO.408/KOL/2018 ASSESSMENT YEAR 2 012-13 M/S PARAS FINVEST PVT. LTD. VS ITO WD-12(1), KOL. PAGE 2 10,000/- ALLEGING NON-COMPLIANCE OF SEC. 143(2) R.W .S. 142(1) NOTICES DURING THE COURSE OF SCRUTINY FINALLY CULMINATING IN BEST JUDG MENT ASSESSMENT FRAMED ON 30.03.2015. WE FIND NO REASON TO SUSTAIN THE IMPUGN ED PENALTY. THIS TRIBUNALS CO- ORDINATE BENCHS DECISION IN JAGAT SINGH VS. ITO IN ITA NOS. 5851 & 5852/DEL/2016 DECIDED ON 28.02.2017 HOLDS THAT RELEVANT PENALTY N OTICE HAS TO STATE THE EXACT REASON FOR SETTING INTO MOTION THE IMPUGNED PENAL PROCEEDI NGS. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DISPUTE THAT THE RELEVANT P ENALTY SHOW CAUSE NOTICE DATED 30.03.2015 FORMING PART OF RECORD BEFORE US HAS SIM PLY TICK MARKED THE IMPUGNED PENALTY PROVISION RATHER THAN SPECIFYING EXACT DEFA ULT OF THE ASSESSEE. WE THEREFORE DIRECT THE ASSESSING OFFICER TO DELETE THE IMPUGNED PENALTY FOR THIS PRECISE REASON ALONE. 3. THIS ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 26/12/2018 SD/- SD/- ( &) (( &) (J.SUDHAKAR REDDY) (S.S.GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER *DKP-SR.PS ) - 26/12/2018 / KOLKATA / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S PARAS FINVEST PVT. LTD., 44/2A, HAZR A ROAD, KOLKATA-19 2. /RESPONDENT-INCOME TAX OFFICER, WARD-12(1), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQU ARE, KOLKATA-69 3. , - / CONCERNED CIT 4. - - / CIT (A) 5. . ((, , , /DR, ITAT, KOLKATA 6. 2 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ / ,,