Suresh Chand (HUF), Jaunpur V. Dy. Commissioner of Income Tax, Faizabad

ITA 463/LKW/2013

• Counselvise Citation: 46323714 RSA 2013
• Duration Of Justice: 2 year(s) 1 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 08-07-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 24-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIDHI VERMA SINGH
• Assessee Lawyers: P K KAPOOR
• Section: 68; 2

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A, LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA NO.463/LKW/2013 ASSESSMENT YEAR:2005 2006 M/S SURESH CHAND (HUF), PROP. M/S SRI RAJA RAM PROCESS, JAHANGIRABAD, JAUNPUR PAN:AANHS0271G VS. DCIT , CIRCLE FAIZABAD (APPELLANT) (RESPONDENT) ITA NO.293/LKW/2013 ASSESSMENT YEAR:2005 2006 M/S SURESH CHAND, PROP. M/S SRI RAJA RAM PROCESS, JAHANGIRABAD, JAUNPUR PAN:ABWPC1521H VS. DCIT , CIRCLE FAIZABAD (APPELLANT) (RESPONDENT) APPELLANT BY SHRI P. K. KAPOOR, C.A. RESPONDENT BY SMT. NIDHI VERMA SINGH, SR. DR DATE OF HEARING 08/07/2015 DATE OF PRONOUNCEMENT 3 0 /07/2015 O R D E R PER A. K. GARODIA, A.M. BOTH THESE ARE APPEALS ARE FILED BY TWO DIFFERENT ASSESSES DIRECTED AGAINST TWO SEPARATE ORDERS OF LEARNED CIT (A) II LUCKNOW DATED 25.02.2013 IN THE CASE OF THE HUF ASSESSEE AND OF LEARNED CIT (A) I LUCKNOW DATED 08.05.2013 IN THE CASE OF THE INDIVIDUAL ASSESSEE FOR A.Y. 2005 2006. 2. BOTH THESE APPEALS WERE HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. IN BOTH THESE APPEALS, THE ONLY GRIEVANCE OF THE ASSESSEE IS IN RESPECT OF CONFIRMING OF PENALTY U/S 2 271 (1) ( C) OF I . T. ACT. LEARNED DR OF THE REVENUE SUPPORTED THE PENALTY ORDERS AND LEARNED AR OF THE ASSESSEE SUBMITTED THAT THE QUANTUM ADDITION IN BOTH THESE CASES U/S 68 WERE DELETED BY THE TRIBUNAL AND HE SUBMITTED A COPY OF COMBINED TRIBUNAL ORDER DATED 12.06.2015 IN ITA NO. 184 & 185/LKW/2010. 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. WE FIND THAT IN QUANTUM APPEALS OF THESE TWO ASSESSES, ENTIRE ADDITION U/S 68 WAS DELETED BY THE TRIBUNAL AND THE PENALTY CONFIRMED BY CIT (A) IS ONLY FOR SUCH ADDITIONS U/S 68. WHEN THE ADDITION ITSELF IS DELETED, THE PENALTY CANNOT SURVIVE AND HENCE, WE DELETE THE PENALTY IN BOTH CASES. 4. IN THE RESULT, BOTH THE APPEALS OF ASSESSEE ARE ALLOWED. (ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE) SD/. SD/. (SUNIL KUMAR YADAV) ( A. K. GARODIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 3 0 /07/2015 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW ASSTT. REGISTRAR