Income Tax Officer, Bareilly V. Shri Ravi Agarwal, Bareilly

ITA 755/LKW/2014

• Counselvise Citation: 75523714 RSA 2014
• Duration Of Justice: 1 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 15-10-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 29-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A, LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA NOS.755/LKW/2014 ASSESSMENT YEAR 2003-04 SHRI RAVI AGARWAL, PROP. M/S SARNATH PETROLEUM, 35-B-1, RAMPUR GARDEN, BAREILLY PAN AAUPA 4275 H VS INCOME TAX OFFICER - WARD 2 ( 1 ), BAREILLY. (RESPONDENT) (APPELLANT) SHRI R AJNISH YADAV, DR APPELLANT BY SHRI ABHINAV MEHROTRA, ADVOCATE RESPONDENT BY 15/10/2015 DATE OF HEARING 04 / 1 1 /2015 DATE OF PRONOUNCEMENT O R D E R PER SUNIL KUMAR YADAV, JM. 1. THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A)-BAREILLY, DELETING THE PENALTY OF RS.7,1 0,000/- LEVIED BY THE ASSESSING OFFICER U/S 271(1)(C) OF THE ACT. 2. DURING THE COURSE OF HEARING, LD. COUNSEL FOR TH E ASSESSEE HAS INVITED OUR ATTENTION THAT IN QUANTUM APPEAL, THE A DDITION MADE BY THE ASSESSING OFFICER FOR WHICH PENALTY U/S 271(1)(C) O F THE ACT WAS LEVIED BY THE AO, WAS DELETED BY THE HONBLE JURISDICTIONA L HIGH COURT IN INCOME TAX APPEAL NO. 224 OF 2015 VIDE HIS ORDER DA TED 08.10.2015. A COPY OF THE JUDGMENT IS PLACED ON RECORD. LD. COUNS EL FOR THE ASSESSEE 2 FURTHER CONTENDED THAT SINCE THE FOUNDATION ON WHIC H PENALTY HAS BEEN LEVIED, HAS BEEN ERODED, PENALTY ORDER DOES NOT HAV E LEGS TO STAND. THEREFORE, THE PENALTY DESERVES TO BE DELETED. LD. DR DID NOT DISPUTE THESE FACTS. 3. HAVING CAREFULLY EXAMINED THE ORDER OF THE LOWER AUTHORITIES, IN THE LIGHT OF THE JUDGMENT OF THE HONBLE JURISDICTI ONAL HIGH COURT, WE FIND THAT UNDISPUTEDLY THE ADDITION ON WHICH IMPUGN ED PENALTY WAS LEVIED, WAS DELETED BY THE HONBLE JURISDICTIONAL H IGH COURT THEREFORE, THE PENALTY LEVIED U/S 271(1)(C) OF THE ACT IS NOT SUSTAINABLE IN THE EYES OF LAW. WE THEREFORE, DO NOT FIND ANY INFIRMIT Y IN THE ORDER OF THE LD. CIT(A) WHO HAS RIGHTLY DELETED THE PENALTY. ACC ORDINGLY, WE CONFIRM HIS ORDER. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. (ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE) SD/- SD/- (A.K. GARODIA ) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 04/11/2015 AKS COPY OF THE ORDER FORWARDED TO : 1.THE APPELLANT 2.THE RESPONDENT. 3.CONCERNED CIT 4.THE CIT(A) 5.D.R., I.T.A.T., LUCKNOW ASSTT. REGIST RAR