The ITO, Ward-9(1), Ahmedabad V. M/s. Shreemad Corporation, Ahmedabad

ITA 50/AHD/2014

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 9231 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-02-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 14-02-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 08-01-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 271(1)(c); 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 92; 201

Judgement Text

ITA NO. 50 /AHD/201 4 A SSESSMENT Y EAR: 20 0 7 - 08 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH, SMC , AHMEDABAD [CORAM: PRAMOD KUMAR AM] ITA NO. 50 /AHD/201 4 ASSESSMENT Y EAR : 200 7 - 08 INCOME TAX OFFICER, WARD 9(1), AHMEDABAD. .... ............. APPELLANT VS. SHREEMAD COR PORATION, ... ..... . RESPONDENT 1, RAJ CHANDRA CO - OP. HOUSING SOCIETY, B/H. HARIDARSHAN SOCIETY, NARODA, AHMEDABAD . [PAN: ABCFS 6139 B ] APPEARANCES BY: DINESH SINGH, FOR THE APPELLANT DHIRE N SHAH , FOR THE RESPONDENT D ATE OF CONCLUDING THE H EARING : 14.02. 201 7 DATE OF PRONOUNCING THE ORDER : 17 . 0 2 .2017 O R D E R 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 15 TH OCTOBER , 201 3 , PASSED BY THE LEARNED CIT(A), DELETING PENALTY OF RS.11,70,096/ - U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 200 7 - 08. 2. GRIEVANCE S RAISED BY THE ASSESSING OFFICER ARE AS FOLLOWS : - 1A). THE LD. COMMISSIONER OF INCOME - TAX (APPEALS) - XV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS I N DELETING THE PENALTY OF RS.11,70,096 / - LEVIED U/S. 271(1)(C) OF THE ACT . 1B). THE LD. COMMISSIONER OF INCOME - TAX (APPEALS) - XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS TO IGNORE EXPLANATION 1 OF PROVISION OF SECTION 271(1) (C) OF THE ACT, WHICH LAYS DOWN THAT WHERE ASSESSEE'S EXPLANATION IN RESPECT OF ANY MATTER WAS NOT FOUND 'SATISFACTORY , PROVISION OF SECTION 271(1) (C) OF THE ACT, WERE ATTRACTED FOR FURNISHING INACCURATE PARTICULARS OF INCOME. ITA NO. 50 /AHD/201 4 A SSESSMENT Y EAR: 20 0 7 - 08 PAGE 2 OF 2 2). ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. COMMISSIONER OF INCOME - TAX (APPEALS) - XV, AHMEDABAD OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFFICER. 3). IT IS THEREFORE, PRAYED THAT THE ORDER OF THE LD. COMMISSIONER OF INCOME - TAX (APPEALS) - XV, AHMEDABAD MAY BE SET - ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED. 3. AS THE RELATED QUANTUM ADDITION ITSELF IS DELETED VIDE MY ORDER OF EVEN DATE, THE VERY FOUNDATION OF THE IMPUGNED PENALTY CEASES TO HOLD GOOD IN LAW. THE IMPUGNED PENALTY IS ALSO, THEREFORE, DELETED. 4 . IN THE RESU LT , THE APPEAL IS DISMISSED . PRONOUNCED IN THE OPEN COURT ON THIS 17 TH DAY OF FEBRUARY, 2017 . SD/ - PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: THE 17 TH DAY OF FEBR UARY , 2017 . PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD