Shri Karan Singh Jangu, BIKANER V. ITO, BIKANER

ITA 409/JODH/2014

• Counselvise Citation: 40923314 RSA 2014
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 03-09-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 28-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S L MAURYA
• Assessee Lawyers: R N JANGID

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR JODHPUR BENCH, JODHPUR JODHPUR BENCH, JODHPUR JODHPUR BENCH, JODHPUR BEFORE SHRI BEFORE SHRI BEFORE SHRI BEFORE SHRI G.C. GUPTA G.C. GUPTA G.C. GUPTA G.C. GUPTA, , , , HONBLE HONBLE HONBLE HONBLE VICE VICE VICE VICE PRESIDENT AND PRESIDENT AND PRESIDENT AND PRESIDENT AND SHRI SHRI SHRI SHRI R.C. SHARMA R.C. SHARMA R.C. SHARMA R.C. SHARMA, , , , HON'BLE ACCOUNTANT HON'BLE ACCOUNTANT HON'BLE ACCOUNTANT HON'BLE ACCOUNTANT MEMBER MEMBER MEMBER MEMBER ITA NO ITA NO ITA NO ITA NO . .. . 409/JODH/2014 409/JODH/2014 409/JODH/2014 409/JODH/2014 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 2010 2010 2010 2010 - -- - 11 1111 11 SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, 7 77 7- -- -A AA A- -- -20, PAWANPURI SOUTH 20, PAWANPURI SOUTH 20, PAWANPURI SOUTH 20, PAWANPURI SOUTH, ,, , BIKANER. BIKANER. BIKANER. BIKANER. PAN : AATPJ7111Q. PAN : AATPJ7111Q. PAN : AATPJ7111Q. PAN : AATPJ7111Q. VS. VS. VS. VS. INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -1(4), 1(4), 1(4), 1(4), BIKANER. BIKANER. BIKANER. BIKANER. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI R.N. JANGID, CA. RESPONDENT BY : SHRI S.L. MAURYA, DR. DATE OF HEARING : 03.09.2015 03.09.2015 03.09.2015 03.09.2015 DATE OF PRONOUNCEMENT: 04.09.2015 04.09.2015 04.09.2015 04.09.2015 ORDER ORDER ORDER ORDER PER G.C. GUPTA, VICE PRESIDENT PER G.C. GUPTA, VICE PRESIDENT PER G.C. GUPTA, VICE PRESIDENT PER G.C. GUPTA, VICE PRESIDENT : :: : THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEA R 2010-11 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A), BIKAN ER DATED 29 TH MAY, 2014. 2. THE ONLY GROUND OF APPEAL RAISED BY THE ASSESSEE IS AS UNDER:- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN SUSTAINING PENALTY LEVIED BY THE LD.AO U/S 271(1)(C) OF IT ACT, 1961 WITHOUT ADEQUAT E JUSTIFICATION AND IN TOTAL DISREGARD TO THE FACT TH AT TDS WAS MADE AND PAID IN GOVT. ON INCOME ALLEGEDLY HELD TO BE CONCEALED INCOME WHEREAS IT WAS AN INADVERTENT OMISSION. 3. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ONLY ISSUE IN THIS APPEAL OF THE ASSESSEE IS REGARDING VALIDIT Y OF PENALTY IMPOSED U/S 271(1)(C) OF THE INCOME-TAX ACT, 1961 AMOUNTING TO `41,500/- FOR NO VALID REASON. ITA-409/JODH/2014 2 4. LEARNED DR HAS RELIED ON THE ORDER OF THE ASSESS ING OFFICER AND THE LEARNED CIT(A). 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAV E PERUSED THE ORDER OF THE ASSESSING OFFICER AND THE LEARNED CIT( A). WE FIND THAT THE PENALTY FOR CONCEALMENT WAS LEVIED IN THIS CASE ON ACCOUNT OF INTEREST INCOME AMOUNTING TO `1,34,075/- BEING INTEREST FROM M/S ICICI HOUSING FINANCE ON WHICH TDS WAS ALSO MADE. THE CASE OF TH E ASSESSEE IS THAT THE ASSESSEE IS AN INDIVIDUAL AND A RETIRED GOVERNM ENT EMPLOYEE OF THE STATE OF RAJASTHAN AND THE MISTAKE WAS INADVERT ENT AND THE TDS WAS MADE AND PAID TO THE CREDIT OF THE GOVERNMENT O N INCOME IN QUESTION AND THAT THE ASSESSEE HAS REVISED ITS COMP UTATION OF INCOME BY ADDING THE INTEREST FROM M/S ICICI HOUSING FINA NCE AT `1,34,075/-. THE ASSESSEE HAS ALSO PAID ADDITIONAL TAX ON THIS I NCOME BEFORE FINALIZATION OF ASSESSMENT. THE ASSESSEE HAS CLAIM ED THAT HE DID NOT RECEIVE THE TDS CERTIFICATE BY THE TIME THE RETURN WAS DUE AND FILED AND THAT THE INADVERTENT MISTAKE MAY BE CONDONED. IN THE FACTS OF THE CASE, WE HOLD THAT SINCE THE TDS AMOUNT WAS DEDUCTE D AND PAID TO THE ACCOUNT OF THE GOVERNMENT AND THAT THE TAX ON THE I NTEREST INCOME FROM M/S ICICI HOUSING FINANCE AT `1,34,075/- WAS PAID BEFORE FINALIZATION OF ASSESSMENT ITSELF AND THE CONDUCT O F THE ASSESSEE BEING BONA FIDE AND THAT THE ASSESSEE DID NOT RECEIVE THE TDS CERTIFICATE IN TIME BY THE DUE DATE OF FILING OF RETURN, IT IS NOT A FIT CASE FOR LEVY OF PENALTY U/S 271(1)(C) OF THE ACT, WHICH IS ACCORDIN GLY CANCELLED AND THE GROUND OF APPEAL IS ALLOWED. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. DECISION PRONOUNCED IN THE OPEN COURT ON 04.09.201 5. SD/- SD/- ( (( ( R.C. SHARMA R.C. SHARMA R.C. SHARMA R.C. SHARMA ) )) ) (G. (G. (G. (G. C. GUPTA C. GUPTA C. GUPTA C. GUPTA ) )) ) A AA A CCOUNTANT CCOUNTANT CCOUNTANT CCOUNTANT MEMBER MEMBER MEMBER MEMBER VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VK. ITA-409/JODH/2014 3 COPY FORWARDED TO: - 1. APPELLANT : SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, SHRI KARAN SINGH JANGU, 7 77 7- -- -A AA A- -- -20, PAWANPURI SOUTH, BIKANER. 20, PAWANPURI SOUTH, BIKANER. 20, PAWANPURI SOUTH, BIKANER. 20, PAWANPURI SOUTH, BIKANER. 2. RESPONDENT : INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -1(4), BIKANER. 1(4), BIKANER. 1(4), BIKANER. 1(4), BIKANER. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR