ACIT, Jaipur V. VIMAL GUPTA, Jaipur

ITA 669/JPR/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99552 (ITAT-JAIPUR)
• Duration Of Justice: 2 year(s) 4 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 25-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJ MEHRA JCIT DHK
• Assessee Lawyers: ANIL KUMAR SHRMA
• Section: 80IB

Judgement Text

1 VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; ,OA JH FOE FLAG ;KN O] YS[KK LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JM & SHRI VIKRAM SINGH YA DAV, AM VK;DJ VIHY LA-@ ITA NO. 669/JP/13 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2006-07 THE ACIT, CIRCLE-5, JAIPUR CUKE VS. SHRI VIMAL GUPTA B-14, ANAND PURI, M.D.ROAD, JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. ACCPG2293B VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI ANIL KUMAR SHRMA (C.A.) JKTLO DH VKSJ LS@ REVENUE BY : SHRI RAJ MEHRA (JCIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 23.11.2015 ?KKS'K .KK DH RKJH[K @ DATE OF PRONOUNCEMENT : /11/2015. VKNS'K@ ORDER PER SHRI VIKRAM SINGH YADAV, A.M. THIS APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF LD. CIT(A)-II, JAIPUR DATED 29.05.2013 WHEREIN THE REVENUE HAS TAK EN THE FOLLOWING GROUND: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) HAS ERRED IN DELETING THE PENALTY IMPOS ED U/S 271(1)(C) DESPITE THE FACT THAT THE ASSESSEE HAD FURNISHED IN ACCURATE PARTICULARS TO CLAIM DEDUCTION U/A 80IB EVEN WHEN A WARE IT ITS LACK OF ELIGIBILITY AS PER EXISTING PROVISION OF THE STA TUTE. 2 ITA NO. 669/JP/13 ACIT, CIRCLE-5, JAIPUR V. SH. VIMAL GUPTA 2. AT THE OUTSET THE LD. AR SUBMITTED THAT THE MATT ER HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE BY THE HONBLE ITAT WHERE IN THE HONBLE ITAT HAS ALLOWED DEDUCTION U/ 80IB OF THE IT ACT. HENCE THE QUANTUM ADDITION HAS BEEN DELETED, THE LEVY OF PENALTY ON T HE SAID ADDITION IS NOT JUSTIFIED. 2.1 IT IS NOTED THAT THE COORDINATE BENCH OF THE IT AT IN ITA NO. 732/JP/10 VIDE ITS ORDER DATED 22.01.2014 HAS ALLOW ED THE DEDUCTION U/S 80IB OF THE ACT. 3. HENCE IN THE LIGHT OF THAT THE SOLE GROUND OF TH E REVENUE IS DISMISSED. IN THE RESULT, THE APPEAL OF THE REVENUE BEEN DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON /11/2015. VKJ-IH-RKSYKUH FOE FLAG ;KNO (R.P.TOLANI) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER JAIPUR DATED:- /011 /2015 PILLAI 3 VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE ACIT, CIRCLE-5, JAIPUR 2. THE RESPONDENT- SHRI VIMAL GUPTA 3. THE CIT(A).II, JAIPUR 4. THE CIT-I JAIPUR 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (ITA NO.669/JP/13) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR