ACIT, Sikar V. SIKAR KENDRIYA SAHKARI BANK, Sikar

ITA 741/JPR/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5612 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 31-10-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJ MEHRA JCIT DHK
• Assessee Lawyers: NONEWRITTEN SUBMISSION

Judgement Text

ITA NO. 741/JP/14 ACIT, CIRCLE, SIAKR VS.SIKAR KENDRIYA SAHKARI BANK , SIKAR 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. 741/JP/14 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2008-09. VKNS'K@ ORDER FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : NONE(WRITTEN SUBMISSION) JKTLO DH VKSJ LS@ REVENUE BY : SHRI RAJ MEHRA (JCIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 03.12.2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 06/01/2016 VKNS'K@ ORDER PER SHRI VIKRAM SINGH YADAV, AM THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF CIT(A),- III, JAIPUR DATED 28.8.2014 WHEREIN THE REVENUE HAS TAKEN THE FOLLOWING THREE GROUNDS OF APPEAL WHICH ARE REPRO DUCED AS UNDER: 1. THE LD. CIT(A) HAS ERRED IN DELETING THE PENALT Y OF RS. 3,09,000/- IMPOSED U/ 271(1)(C) OF THE ACT, ON AC COUNT OF DISALLOWANCE OF RS. 10,00,000/- MADE ON ACCOUNT OF CONTRIBUTION TO MANAGERIAL SALARY FUND. THE ACIT, CIRCLE, SIKAR CUKE VS. SIKAR KENDRIYA SAHKARI BANK, BASANT VIHAR, SIKAR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AAAAS1601G ITA NO. 741/JP/14 ACIT, CIRCLE, SIAKR VS.SIKAR KENDRIYA SAHKARI BANK , SIKAR 2 2. THE LD. CIT(A) HAS ERRED IN DELETING THE PENALTY OF RS. 2,3,530/- IMPOSED U/ 271(1)(C) OF THE ACT, ON ACCOUNT OF DI SALLOWANCE OF RS. 8,20,454/- MADE ON ACCOUNT OF CONTRIBUTION TO PACS DEV. FUND. 3. THE LD. CIT(A) HAS ERRED IN DELETING THE PENALTY OF RS. 51,126/- IMPOSED U/ 271(1)(C) OF THE ACT, ON ACCOUNT OF DI SALLOWANCE OF RS. 1,50,000/- MADE ON ACCOUNT OF CONTRIBUTION TO KARAM CHARI KALYAN FUND. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVER , THE LD. AR VIDE ITS WRITTEN SUBMISSION DATED 03.2.2015 STATED THAT THE QUANTUM APPEAL VIE ITA NO. 121/JP/12 AND ITA NO. 132/JP/12 FOR THE SUBJECT A.Y. 2008-09 HAVE BEEN DECIDED IN FAVOUR OF THE ASSESSEE WHEREIN ALL THE ADDITIONS, WHICH ARE SUBJECT MATTER OF THE PRESENT PENALTY PROCEEDINGS, HAVE BEEN DELETED AND ACCORDINGLY, THE SUBJECT APPE AL DOES NOT SURVIVE. 2.1 THE LD. DR AGREED THAT THE QUANTUM ADDITIONS HA VE BEEN DELETED BY THE ORDER OF THE HONBLE ITAT. AT THE SAME TIME, HE RELIED ON THE ORDER OF THE AO FOR LEVY OF PENALTY. 2.2 WE HAVE PERUSED THE ORDER OF THE COORDINATE BEN CH IN ITA NO.121/JP/12 AND ITA NO. 132/JP/12 FOR ASSESSMENT Y EAR 2008-09 DATED 27.03.2015, WHEREIN ALL THE THREE MATTERS WHICH RE SUBJECT MATTER OF PRESENT PENALTY PROCEEDINGS HAVE BEEN DECIDED IN FA VOUR OF THE ASSESSEE. WHERE THE QUANTUM ADDITIONS HAVE BEEN DELETED, THE CONSEQUENT LEVY OF ITA NO. 741/JP/14 ACIT, CIRCLE, SIAKR VS.SIKAR KENDRIYA SAHKARI BANK , SIKAR 3 PENALTY ON THE SAID ADDITIONS DOES NOT STAND. HENC E THE LEVY OF THE PENALTY IS DELETED AND ALL THREE GROUNDS TAKEN BY T HE REVENUE ARE DISMISSED. IN THE RESULT THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 06 /01 /2016 (R.P. TOLANI) (VIKRAM SINGH YADAV) JUDICIAL MEMBER ACCOUNTANT MEMBER JAIPUR DATED : 06 /01/2016 PILLAI COPY OF THE ORDER FORWARDED TO:- 1. THE APPELLANT, THE ACIT, CIRCLE, SIKAR 2.THE RESPONDENT, SIKAR KENDRIYA SAHKARI BANK, SIK AR 3,THE CIT -III, JAIPUR 4.THE CIT(A)-III, JAIPUR 5.THE DEPARTMENTAL REPRESENTATIVE, ITAT, JAIPUR 6 GUARD FILE (ITA NO. 741/JP/14) BY ORDER ASSISTANT REGISTRAR. ITA NO. 741/JP/14 ACIT, CIRCLE, SIAKR VS.SIKAR KENDRIYA SAHKARI BANK , SIKAR 4