BGK Infratech P.Ltd (Amalgmated Compnay of Nova Infratech P.Ltd), New Delhi V. ACIT, Central Circle-15, New Delhi

ITA 5231/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 4298 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-10-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 03-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. KUL BHARAT, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) ITA NO.5231/DEL/2018 ASSESSMENT YEAR: 2010-11 BGK INFRACTECH P. LTD. (AMALGAMATED COMPANY OF NOVA INFRATECH P. LTD.) SANJAY SATPAL AND ASSOCIATES, F-11, GREEN PARK, EXTENSION, NEW DELHI-110016 PAN NO. AAJCS0136R VS ACIT CENTRAL CIRCLE- 15 NEW DELHI (APPELLANT) (RESPONDENT) APPELLANT BY SH. SHAILESH GUPTA, ADVOCATE RESPONDENT BY SH. SANJAY NARGAS, SR. DR DATE OF HEARING: 04/10/2021 DATE OF PRONOUNCEMENT: 04/10/2021 ORDER PER N. K. BILLAIYA, AM: 1. THIS APPEAL BY THE ASSESSEE IS DIRECTED TOWARDS THE ORDER OF THE CIT(A)-XXVI, NEW DELHI DATED 16.05.201 8 PERTAINING TO A.Y.2010-11. 2 2. THE SOLITARY GRIEVANCE OF THE ASSESSEE IS THAT T HE CIT(A) ERRED IN CONFIRMING THE PENALTY OF RS.193608/- LEVI ED U/S. 271 (1) (C) OF THE ACT. 3. THE ROOTS FOR THE LEVY OF PENALTY LIE IN THE ASS ESSMENT ORDER DATED 28.03.2013 FRAMED U/S.143 (3) R.W.S. 15 3 C OF THE ACT. 4. THE ASSESSMENT WAS COMPLETED BY NOT ACCEPTING TH E SALE OF LAND AS THE SALE OF AGRICULTURAL LAND AND ACCORD INGLY INCOME OF RS.6,26,562/- ON TRANSFER OF THAT LAND WA S ADDED BACK TO THE INCOME OF THE ASSESSEE AS INCOME FROM C APITAL GAIN. 5. THE QUANTUM ADDITION TRAVELLED UP TO THE TRIBUNA L AND THE TRIBUNAL IN ITA NO.5346/DEL/2014 HAD CONSIDERED THE ADDITION AND THE RELEVANT GROUND READ AS UNDER :- 1.2 THE LEARNED COMMISSIONER OF INCOME TAX (A) HAS ERRED IN JUSTIFYING THE ACTION OF THE ASSESSING OFFICER WHO HAS ERRED IN MAKING ADDITION OF RS.6,26,562/- IN RESPECT OF CAPI TAL GAIN EARNED ON TRANSFER OF AGRICULTURE LAND DURING THE YEA R WITHOUT GOING THROUGH THE FACTS, DETAILS AS WELL AS DOCUMENTA RY EVIDENCE FILED DURING THE COURSE OF APPELLATE PROCEEDI NG. 3 6. THE TRIBUNAL HELD AS UNDER :- 7. SINCE THE QUANTUM ADDITION HAS BEEN DELETED BY T HIS TRIBUNAL, THE PENALTY LEVIED U/S.271 (1) (C) OF THE ACT DOES NOT HAVE ANY LEG TO STAND. WE ACCORDINGLY DIRECT THE AO TO DELETE THE PENALTY SO LEVIED. 8. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. 9. DECISION ANNOUNCED IN THE OPEN COURT IN THE PRESENC E OF BOTH THE REPRESENTATIVES ON 04.10.2021. SD/- SD/- (KUL BHARAT) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOU NTANT MEMBER *NEHA* DATE:-04.10.2021 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGI STRAR ITAT NEW DELHI 4 DATE OF DICTATION 04.10.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 04.10.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 04.10.2021 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS 04.10.2021 DATE ON WHICH THE FAIR ORDE R IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 04.10.2021 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 04.10.2021 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 04.10.2021 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 04.10.2021 DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER