DCIT, Kolhapur V. Abhishek Cotspin Mills Ltd., Kolhapur

ITA 697/PUN/2009

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 3117 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 5 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 11-06-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Reasonable cause

Judgement Text

ITA NOS. 697/PN/09 A.Y. 2006-07 PAGE 2 OF 2 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE DETA ILS FILED BEFORE US. THERE IS NO DISPUTE ON THE FACTS RELATING TO FILING OF RETU RN OF INCOME BOTH IN PAPER AS WELL AS E-RETURN FORMAT. IT IS ALSO THE FACT THAT REVENUE D ID NOT REJECT THE PAPER RETURN FORMAT. REGARDING THE EXISTENCE OF REASONABLE CAUSE, I N OUR OPINION, THERE EXISTS ONE AND THE SAME EVIDENT FROM THE FACT OF ISSUE OF N UMBER OF AMENDMENTS OF RULE 12 AND THE EXISTENCE OF VARIOUS CIRCULARS BY CBDT. CON SIDERING ALL THE ABOVE, WE FIND THAT THIS IS NOT A FIT CASE FOR LEVYING OF INTE REST U/S. 234A OF THE INCOME ACT. 4. FURTHER WE HAVE PERUSED PARA 14 TO 17 OF THE ORDER OF THE CIT(A) AND FIND THAT CIT(A) HAS TAKEN A PRAGMATIC AND A REALISTIC VIE W WHILE DELETING THE IMPUGNED INTEREST, THEREFORE WE FIND NO REASON TO INTERFERE IN THE ORDER OF THE CIT(A). ACCORDINGLY, GROUNDS RAISED BY THE REVENUE ARE DISMISS ED. 5. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDERS PRONOUNCED IN THE OPEN COURT ON 30 TH NOVEMBER, 2010. SD/- SD/- (I.C. SUDHIR) (D.KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBE R PUNE DATED THE 30 TH NOVEMBER, 2010 R COPY OF THE ORDER IS FORWARDED TO : 1. DCIT, CIRCLE-2, KOLHAPUR 2. ASSESSEE 3. CIT(A)-KOLHAPUR 4. CIT-I, KOLHAPUR 5. D.R. ITAT B BENCH BY ORDER ASSISTANT REGISTRAR I.T.A.T PUNE