The Deputy Commissioner of Income tax, Hoshiarpur V. Sh Amrit Sagar Mittal, Hoshiarpur

ITA 50/ASR/2011

• Counselvise Citation: 5020914 RSA 2011
• Duration Of Justice: 1 year(s) 9 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-11-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 20-11-2012
• Assessment Year: 2005-2006
• Appeal Filed On: 17-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R L CHHANALIA
• Assessee Lawyers: VINAY MALHOTRA
• Keywords: Deemed dividend

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P.JAIN, ACCOUNTANT MEMBER I.T.A. NO.50(ASR)/2011 ASSESSMENT YEAR:2005-06 PAN :AASPM1102D DY. COMMR. OF INCOME-TAX, VS. SH. AMRIT SAGAR MITTA L, HOSHIARPUR CIRCLE, SONALIKA ESTATE, D.C.ROAD, HOSHIARPUR. HOSHIARPUR. (APPELLANT) (RESPONDENT) APPELLANT BY:SH. R.L. CHHANALIA, DR RESPONDENT BY:SH. VINAY MALHOTRA, CA DATE OF HEARING:20.11.2012 DATE OF PRONOUNCEMENT:20.11.2012 ORDER PER BENCH ; THE REVENUE HAS FILED THE PRESENT APPEAL AGAINST T HE ORDER OF THE CIT(A), JALANDHAR, DATED 08.11.2012 FOR THE ASSESSM ENT YEAR 2005-06 ON THE FOLLOWING GROUNDS: 1. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE LD. CIT(A) HAS ERRED IN LAW IN DELETING THE PENALTY OF RS.16,54,208/- IMPOSED BY THE AO U/S 271(1)(C) OF T HE I.T.ACT, 1961. 2. THAT, IT IS PRAYED THAT THE ORDER OF THE LD. CIT (A) BE SET-ASIDE AND THAT OF THE A.O. RESTORED. ITA NO.50(ASR)/2011 2 3. THAT THE APPELLANT CRAVES REQUESTS FOR LEAVE TO ADD OR AMEND OR ALTER THE GROUNDS OF APPEAL BEFORE THE APPEAL IS HE ARD AND DISPOSED OFF. 2. THE FACTS NARRATED BY THE REVENUE ARE NOT DISPUT ED BY BOTH THE PARTIES. THEREFORE, THERE IS NO NEED TO REPEAT THE SAME FOR THE SAKE OF CONVENIENCE. 3. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE, SH. VINAY MALHOTRA, CA STATED THAT THE ADDITION OF RS.49,14,4 64/- WAS MADE BY THE AO ON ACCOUNT OF DOUBLE DEDUCTION OF TDS OUT OF SAL ARY, WHICH RESULTED RESULTED INTO DEBIT IN THE ACCOUNTS OF THE ASSESSEE ON 31.03.2005 WHICH WAS TREATED AS INCOME ON ACCOUNT OF DEEMED DIVIDEND AS PER PROVISIONS OF SECTION 2(22)(E) OF THE ACT. THIS ADDITION HAS BEEN CONFIRMED BY THE LD. CIT(A) AND ITAT AND THE ASSESSEE HAS FILED THE APP EAL AGAINST THE ORDER OF THE ITAT BEFORE THE HONBLE PUNJAB & HARYANA HIGH COURT IN ITA NO.391 OF 2010 IN THE CASE OF SH. AMRIT SAGAR MITTAL VS. C IT JALANDHAR AND THE SAME STANDS ADMITTED. HE REQUESTED THAT THE ISSUE IN DIS PUTE MAY BE SET ASIDE TO THE FILE OF THE AO WITH THE DIRECTION TO DECIDE THE ISSUE OF LEVY OF PENALTY KEEPING IN VIEW THE DECISION OF THE HONBLE PUNJAB & HARYANA HIGH COURT, IN THE SAID CASE. 4. THE LD. DR HAS NOT RAISED ANY OBJECTION TO THE S UBMISSIONS OF THE ASSESSEES COUNSEL, BECAUSE LD. COUNSEL OF THE ASSE SSEE HAS ALREADY FILED A COPY OF HIS WRITTEN SUBMISSIONS TO THE LD. DR ALSO. ITA NO.50(ASR)/2011 3 5. KEEPING IN VIEW THE STATEMENTS MADE BY BOTH THE PARTIES AND IN THE INTEREST OF JUSTICE, WE ARE OF THE CONSIDERED VIEW THAT WHEN BOTH THE PARTIES ARE AGREED IN DISPOSING OF THE PRESENT APPEAL, THER EFORE, WE ARE ACCEPTING THE REQUEST OF THE PARTIES AND SETTING ASIDE THE ISSUE IN DISPUTE TO THE FILE OF THE A.O. WITH THE DIRECTION TO DECIDE THE SAME KEEPING IN VIEW THE ORDER PASSED BY THE HONBLE PUNJAB & HARYANA HIGH COURT, IN ITA NO.391 OF 2010 TITLED AS AMRIT SAGAR MITTAL VS. CIT, JALANDHAR. WITH THE SE DIRECTIONS, THE PRESENT APPEAL OF THE DEPARTMENT IS DISPOSED OFF. 6. IN THE RESULT, THE APPEAL FILED BY THE DEPARTMEN T IS DISPOSED OF IN THE ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 20TH NOVEMBER, 2012. SD/- SD/- (B.P. JAIN) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 20TH NOVEMBER, 2012 /SKR/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE:SH. AMRIT SAGAR MITTAL, HOSHIARPUR. 2. THE DCIT, HOSHIARPUR CIRCLE, HOSHIARPUR. 3. THE CIT(A), JLR. 4. THE CIT, JLR. 5. THE SR DR, ITAT, AMRITSAR. TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.