Apex Constructions, Kheda V. The DCIT, Kheda Circle, Nadiad

ITA 7/AHD/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7091 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 6 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-07-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 01-01-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHRISHIVASEVAK
• Keywords: Unexplained cash credit
• Section: 143(3); 68

Judgement Text

, SMC- IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH SMC BEFORE SHRI WASEEM AHMED,ACCOUNTANT MEMBER &SMT. MADHUMITA ROY, JUDICIAL MEMBER . ITA NO.07/AHD/2018 / ASSTT. YEAR: 2012-13 APEX CONSTRUCTION 8/B, TRIVENI PARK SOCIETY, OPP. BUS STAND, KAPADWANJ 387620 PAN:AAE FA1 295 P VS. DCIT KHEDA CIRCLE, NADIAD (DIST. KHEDA) / (APPELLANT) / (RESPONDENT) ASSESSEE BY : WRITTEN SUBMISSION REVENUE BY : SHRISHIVASEVAK, SR. DR ' #$% /DATE OF HEARING : 01/07/2019 &' $% /DATE OF PRONOUNCEMENT: 23/07/2019 () / O R D E R PER MADHUMITA ROY- JM : THE INSTANT APPEAL FILED BY ASSESSEE IS DIRECTED AG AINST THE ORDER DATED 18.10.2017 PASSED BY THE CIT(A)-2, VADODARA ARISING OUT OF THE ORDER DATED 12.09.2016 PASSED BY THE DCIT, KHEDA CIRCLE, NADIAD UNDER SECTION271(1)(C) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR FINANCIAL YEAR 2012-13 2. THE BRIEF FACTS LEADING TO THE CASE IS THIS THAT THE ASSESSEE ENGAGED IN THE BUSINESS OF CONSTRUCTION OF ROAD AND A REGISTERED G OVERNMENT APPROVED CONTRACTOR FILED ITS RETURN OF INCOME ON 29.09.2012 DECLARING TOTAL INCOME AT RS. 26,64,550/- FOR A.Y. 2012-13 WHICH WAS FINALISED BY THE LD. AO U PON MAKING ADDITION OF RS. 10,75,000/- UNDER SECTION 143(3) OF THE ACT ON 26.0 2.2015 ON ACCOUNT OF UNEXPLAINED CASH CREDIT UNDER SECTION 68 OF THE ACT WHICH IN TURN CONFIRMED BY THE LD. CIT(A) IN FIRST APPEAL ON 18.04.2016. HOWEVER, T HE SAME WAS DELETED BY THE CO-ORDINATE BENCH ON 29.11.2018 IN ITA NO. 1496/AHD /2016. ITA NO. 07/AHD/2018 A.Y. 2012-13 2 THE PENALTY PROCEEDING INITIATED BY THE LD. AO WAS, HOWEVER, FINALISED UPON LEVYING PENALTY OF RS. 3,32,180/- ON 12.09.201 6 AGAINST WHICH APPEAL WAS PREFERRED BUT WITHOUT ANY RESULT. HENCE, THE INSTA NT APPEAL BEFORE US. 3. NONE IS APPEARING ON BEHALF OF THE ASSESSEE BUT A WRITTEN NOTE OF SUBMISSION WAS DULY FILED BY THE ASSESSEE FOR PROPER ADJUDICAT ION OF THE MATTER. WE FIND SINCE THE QUANTUM OF ADDITION OF RS. 10,75,000/- HAS BEEN DELETED BY THE CO-ORDINATE BENCH IN APPEAL AS IT APPEARS AT PAGE 14 TO 16 OF T HE COMPILATION FILED BY THE ASSESSEE BEFORE US WE FIND NO BASIS FOR LEVY OF PEN ALTY AGAINST THE ASSESSEE BY THE LD. AO. SINCE THE ADDITION HAS BEEN DELETED THE VER Y FOUNDATION OF THE PENALTY ORDER HAS LOST ITS FORCE; THE SAME BECOME INFRUCTUO US. HENCE, THE APPEAL IS FOUND TO BE DEVOID OF ANY MERIT AND DISMISSED AS INFRUCTU OUS. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. [ORDER PRONOUNCED IN THE COURT ON 23-07-2019.] SD/- SD/- ( WASEEM AHMED ) ( MADHUMITA ROY ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 23/07/2019 TANMAY TRUE COPY ()$*+,(+ /COPY OF THE ORDER FORWARDED TO : () ' / BY ORDER - / . (DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. / THE APPELLANT 2. / / THE RESPONDENT. 3. ' 0 / CONCERNED CIT 4. ' 0 ( ) / THE CIT(A) 5. +12 , / DR, ITAT, 6. 234# / GUARD FILE.