Alpaben Rajeshbhai Patel, Ahmedabad V. The Income Tax Officer, Ward-13(4), Ahmedabad

ITA 416/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7918 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 26-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RICHA RASTOGI
• Assessee Lawyers: A C SHAH
• Keywords: Capital asset

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA NO. 416/AHD/2015 (ASSESSMENT YEAR: 2010-11) ALPABEN RAJESHBHAI PATEL 109, SHANKAR NIWAS, USMANPURA, SHANTINAGAR, OLD WADAJ, ASHRAM ROAD, AHMEDABAD - 380013 APPE LLANT VS. THE I.T.O., WARD - 13(4), AHMEDABAD RESPONDENT PAN: ANGPP4173I /BY ASSESSEE : A. C. SHAH, A.R. /BY REVENUE : RICHA RASTOGI, SR. D.R. /DATE OF HEARING : 09.11.2017 /DATE OF PRONOUNCEMENT : 18.12.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2010-11 ARISES AGAINST THE CIT(A)-XXI, AHMEDABADS EX PARTE ORDER DATED 16.12. 2014 IN CASE NO. CIT(A)- 7/74/13-14, AFFIRMING ASSESSING OFFICERS ACTION IM POSING PENALTY OF RS.12,52,638/-, IN PROCEEDINGS U/S. 271(1)(C) OF TH E INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT EMERGES AT THE OUTSET THAT BOTH THE LOWER AUT HORITIES HAVE LEVIED THE IMPUGNED PENALTY IN ASSESSEES CASE ON ACCOUNT OF T HREE QUANTUM ADDITIONS OF ITA NO. 416/AHD/15 [ALPABEN R. PATEL VS. ITO] A.Y. 2010-11 - 2 - RS.6,37,500/-, RS.53/- AND RS.615138/- OF SHORT TER M CAPITAL GAINS ON ACCOUNT OF SALE OF LAND, INTEREST INCOME AND AGRICULTURAL INCO ME; RESPECTIVELY MADE IN ASSESSMENT ORDER DATED 28.09.2012. THE SAME HAVE A LREADY ATTAINED FINALITY. THE ASSESSING OFFICER THEREAFTER HAS IMPOSED THE IMPUGN ED PENALTY ON ACCOUNT OF ASSESSEES FAILURE IN FILING ANY EXPLANATION AT ALL IN THE INSTANT PROCEEDINGS. THE ASSESSEE DID NOT APPEAR BEFORE THE CIT(A) AS WELL W HO HAS CONFIRMED THE ABOVE LEVY OF PENALTY. 3. IT IS EVIDENT FROM THE CASE FILE THAT THE ABOVE MAIN QUANTUM ADDITION OF SHORT TERM CAPITAL GAINS AROSE ON ACCOUNT OF THE FACT THA T THE ASSESSEE AND OTHER CO- OWNERS HAD SOLD SEVEN EQUAL SHARES THAN EIGHT IN AL L IN THE RELEVANT CAPITAL ASSET RESULTING IN THE ABOVE ADDITION BEING MADE IN THE C OURSE OF ASSESSMENT. BOTH THE PARTIES STATE IN THE COURSE OF HEARING THAT WE HAVE HEARD ANOTHER CO-OWNERS PENALTY APPEAL ITA NO.45/AHD/2015 ON 08.11.2017 IN CASE OF PRITIBEN MANIBHAI PATEL WHEREIN THE ISSUE IS TO BE REMITTED BACK AS BOTH OF THEM HAVE TO PLACE ON RECORD ALL RELEVANT FACTS BEFORE THE ASSESSING OFFICER. THE S AID APPEAL HAS BEEN ACCEPTED FOR STATISTICAL PURPOSES IN OTHER WORDS. WE THEREFORE FOLLOW THE VERY COURSE OF ACTION HEREIN AS WELL TO RESTORE THE INSTANT ISSUE OF CORR ECTNESS OF THE IMPUGNED PENALTY BEFORE THE ASSESSING OFFICER TO BE ADJUDICATED AFRE SH AFTER AFFORDING ADEQUATE OPPORTUNITY OF HEARING TO THE ASSESSEE. 4. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSES. [PRONOUNCED IN THE OPEN COURT ON THIS THE 18 TH DAY OF DECEMBER, 2017.] SD/- SD/- ( PRADIP KUMAR KEDIA ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD: DATED 18/12/2017 S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ITA NO. 416/AHD/15 [ALPABEN R. PATEL VS. ITO] A.Y. 2010-11 - 3 - ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0