The Nashik District Central Co-op Bank Ltd, Nashik V. Assistant Commissioner of Income tax, Nashik

ITA 420/PUN/2017

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6864 (ITAT-PUNE)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 20-02-2017
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUN E BEFORE SHRI ANIL CHATURVEDI, AM AND SHRI PARTHA SARATHI CHAUDHURY, JM / ITA NO. 420/PUN/2017 / ASSESSMENT YEAR : 2010-11 THE NASHIK DISTRICT CENTRAL CO-OP. BANK LTD. POST BOX NO.432, OLD AGRA ROAD, NASHIK-422 011. PAN : AAAAT3794P ....... / APPELLANT / V/S. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, NASHIK. / RESPONDENT ASSESSEE BY : SHRI PRAMOD SHINGTE REVENUE BY : SHRI SANJAY PUNGLIA / DATE OF HEARING : 27.02.2019 / DATE OF PRONOUNCEMENT : 28.02.2019 / ORDER PER PARTHA SARATHI CHAUDHURY, JM : THIS APPEAL PREFERRED BY THE ASSESSEE EMANATES FROM TH E ORDER OF LD. CIT(APPEAL)-1, NASHIK DATED 17.12.2014 FOR THE ASSESSMENT YEAR 2010-11 AS PER GROUNDS OF APPEAL ON RECORD. 2. THE ONLY GRIEVANCE OF THE ASSESSEE IS THE PENALTY LEV IED U/S.271(1)(C) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT). 2 ITA NO.420 /PUN/2017 A.Y.2010-11 3. THE LD. AR OF THE ASSESSEE AT THE TIME OF HEARING APP RISED THE BENCH THAT THE QUANTUM APPEAL IN RESPECT OF THE ASSESSEE HAS BEEN SET AS IDE BACK TO THE FILE OF THE LD. CIT(A) FOR EXAMINING THE FACTS OF THE CASE. THE LD. AR OF THE ASSESSEE INVITED OUR ATTENTION TO PARA 9 OF THE DECISION OF PUNE BENCH OF THE TRIBUNAL IN ITA NO.174/PUN/2015 FOR THE ASSESSMENT YEAR 2010-11 IN THE CASE OF THE ASSESSEE WHERE THE MATTER IS SET ASIDE TO THE FILE OF FIRST APPELLATE AUTHORITY. THEREFORE, THE LD. AR PRAYED FOR REMANDING THE ISSUE WHETHER THE PENALTY IS TO BE LEVIED OR NOT AND ALSO FOR RE-ADJUDICATIO N TO THE FILE OF LD. CIT(A). 4. THE LD. DR FAIRLY CONCEDED TO THE PRAYER OF THE LD. AR. 5. WE HAVE PERUSED THE CASE RECORDS AND HAVE HEARD THE RIVAL CON TENTIONS. WE FIND THAT IN ITA NO.174/PUN/2015, THE QUANTUM APPEAL O F THE ASSESSEE HAS BEEN SET ASIDE FOR ADJUDICATION TO THE FILE OF LD. CIT(A ). THEREFORE, IN ALL FAIRNESS, THE APPEAL BEFORE US SHOULD ALSO BE REMANDED BAC K TO THE FILE OF THE LD. CIT(A) SINCE THE PENALTY PROCEEDINGS WOULD DEPEND ON THE OUTCOME OF THE QUANTUM PROCEEDING. ACCORDINGLY, WE SET ASIDE THE ORDER OF THE LD. CIT(A) AND REMAND THE MATTER BACK TO HIS FILE FOR ADJUDICATION AFTER P ROVIDING REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURP OSES. ORDER PRONOUNCED ON 28 TH DAY OF FEBRUARY, 2019. SD/- SD/- ANIL CHATURVEDI PA RTHA SARATHI CHAUDHURY ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; / DATED : 28THFEBRUARY, 2019. SB 3 ITA NO.420 /PUN/2017 A.Y.2010-11 !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEAL)-1, NASHIK. 4. THE PR. CIT-1, NASHIK. 5. '#$ %%&' , ( &' , )*+ , / DR, ITAT, B BENCH, PUNE. 6. $,- ./ / GUARD FILE. // TRUE COPY // (0 / BY ORDER, %1 &+ / PRIVATE SECRETARY ( &' , / ITAT, PUNE. 4 ITA NO.420 /PUN/2017 A.Y.2010-11 DATE 1 DRAFT DICTATED ON 27 .0 2 .2019 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 28 .0 2 .201 9 SR.PS/PS 3 DRAFT PROPOSED AND PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/JM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 DATE OF UPLOADING OF ORDER SR.PS/PS 8 FILE SENT TO BENCH CLERK SR.PS/PS 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE A.R 11 DATE OF DISPATCH OF ORDER