THE DCIT, CIRCLE - 2(1), Vijayawada V. Smt. Narra Siva Subba Lakshmi, Vijayawada

ITA 428/VIZ/2013

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 6777 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 4 year(s) 2 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2017
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 10-04-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 03-06-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y SESHA SRINIVAS
• Assessee Lawyers: N O N E
• Section: 68; 144

Judgement Text

ITA NO.428/VIZAG/2013 SMT. NARRA SIVA SUBBA LAKSHMI, VIJAYAWADA 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . . ' , % BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER ./I.T.A.NO.428/VIZAG/2013 ( / ASSESSMENT YEAR: 2007-08) DCIT, CIRCLE - 2(1), VIJAYAWADA SMT. NARRA SIVA SUBBA LAKSHMI, VIJAYAWADA [PAN NO. ABRPN9543K ] ( ' / APPELLANT) ( ()' / RESPONDENT) / APPELLANT BY : SHRI Y. SESHA SRINIVAS, DR / RESPONDENT BY : N O N E / DATE OF HEARING : 16.08.2017 / DATE OF PRONOUNCEMENT : 18.08.2017 / O R D E R PER D.S. SUNDER SINGH, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAIN ST ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) {CIT(A)}, VIJA YAWADA VIDE APPEAL NO.239/VJA/CIT(A)/2011-12 DATED 6.3.2013 FOR THE ASSESSMENT YEAR 2007-08. ITA NO.428/VIZAG/2013 SMT. NARRA SIVA SUBBA LAKSHMI, VIJAYAWADA 2 2. THE ASSESSEE FILED RETURN OF INCOME FOR THE ASSE SSMENT YEAR 2007- 08 ON 30.3.2009 ADMITTING TOTAL INCOME OF ` 2,68,980/-. THE ASSESSMENT WAS COMPLETED U/S 144 OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED AS 'THE ACT') ON 29.12.2009 ON TOTAL INCOME OF ` 50,64,980/-. THE A.O. MADE THE ADDITION OF ` 47,95,000/- TO THE RETURNED INCOME U/S 68 OF THE ACT RELATING TO THE C ASH DEPOSITS APPEARING IN THE BANK ACCOUNT. 3. AGGRIEVED BY THE ORDER OF THE A.O., THE ASSESSEE WENT IN APPEAL BEFORE THE CIT(A) AND THE LD. CIT(A) ENHANCED THE A DDITION TO ` 67,95,000/- AND CONSEQUENTLY THE TOTAL INCOME WAS D ETERMINED AT ` 70,64,980/-. THE PENALTY U/S 271(1)(C) OF THE ACT WAS INITIATED BY THE A.O. AND ACCORDINGLY PENALTY OF ` 22,76,740/- WAS LEVIED BY THE A.O. ON CONCEALED INCOME OF ` 70,64,980/-. AGGRIEVED BY THE ORDER OF THE A.O., THE ASSESSEE WENT ON APPEAL BEFORE THE CIT(A) AND T HE LD. CIT(A) CONFIRMED THE PENALTY ONLY ON THE ADDITION OF ` 15,45,000/- RELATING TO CASH DEPOSITS AND THE PENALTY ON THE BALANCE ADDITI ON WAS DELETED BY THE LD. CIT(A). AGGRIEVED BY THE ORDER OF THE LD. CIT(A), THE REVENUE IS IN APPEAL BEFORE US. 4. APPEARING FOR THE REVENUE, THE LD. D.R. SUBMITTE D THAT HONBLE ITAT INITIALLY DISMISSED THE QUANTUM APPEAL OF THE ASSESSEE, EX-PARTE ITA NO.428/VIZAG/2013 SMT. NARRA SIVA SUBBA LAKSHMI, VIJAYAWADA 3 AND SUBSEQUENTLY RECALLED THE QUANTUM APPEAL AND SE T ASIDE THE ORDER OF LOWER AUTHORITIES AND REMITTED BACK THE MATTER T O THE FILE OF THE A.O. FOR FRESH CONSIDERATION VIDE ITA NO.167/VIZAG/2011 DATED 13.5.2013. THEREFORE, WE DEEM IT FIT TO SET ASIDE THE PENALTY ORDER ALSO, AND REMIT THE MATTER BACK TO THE FILE OF THE ASSESSING OFFICE R TO RE-ADJUDICATE THE PENALTY ON COMPLETION OF THE SET ASIDE ASSESSMENT P ROCEEDINGS. 5. FOR STATISTICAL PURPOSES, THE APPEAL OF THE REVE NUE IS ALLOWED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 18 TH AUG17. SD/- SD/- ( . ) ( . . ' ) (V. DURGA RAO) (D.S. SUNDER SINGH) /JUDICIAL MEMBER /ACCOUNTANT MEMBER # /VISAKHAPATNAM: ' /DATED : 18.08.2017 VG/SPS )# *# /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT THE DCIT, CIRCLE-2(1), VIJAYAWAD A 2. / THE RESPONDENT SMT. NARRA SIVA SUBBA LAKSHMI, D.NO.59A-10-9, K.P. NAGAR, VIJAYAWADA 3. + THE CIT, VIJAYAWADA 4. + ( ) / THE CIT (A), VIJAYAWADA 5. # . , . , # / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // SR. PRIVATE SECRETARY ITAT, VISAKHAPATNAM