Goghat Thana Large Sized primary Cooperative Agricultural Marketing Society Ltd., Hooghly V. ACIT, Cir-1, Hooghly, Hooghly

ITA 766/KOL/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 6615 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 2 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-06-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 18-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G MALLIKARJUNA
• Assessee Lawyers: P K ROY
• Keywords: Reasonable cause

Judgement Text

ITA NO.766/KOL/2017 GOGHAT THANA LARGE SIZED PRIMAR Y CO-OP.AGRICULTURAL MARKETING SOCIETY LTD. A.Y.2011-12 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH D KOL KATA [BEFORE HONBLE SHRI S.S.GODARA, JM & SHRI M.BALA GANESH, AM ] ITA.NO.766/KOL/2017 ASSESSMENT YEAR : 2011-12 GOGHAT THANA LARGE SIZED VS A.C.I.T., CIRCLE-1, PRIMARY CO-OPERATIVE AGRICULTURAL HOOGHLY MARKETING SOCIETY LTD.HOOGHLY (PAN: AAALG 0062 E) (APPELLANT) (RESPONDENT) FOR THE APPELLANT: SHRI P.K.ROY, ADVOCATE FOR THE RESPONDENT: SHRI G.MALLIKARJUNA, CIT(DR) DATE OF HEARING : 18.06.2018. DATE OF PRONOUNCEMENT : 27.06.2018. ORDER PER S.S.GODARA, JM THIS ASSESSEES APPEAL FOR A.Y.2011-12 FALLS INTO Q UESTION THE CIT(A)-6, KOLKATAS ORDER DATED 12.01.2017 PASSED IN APPEAL N O.299/CIT(A)-6/KOL/2014-15 UPHOLDING THE ASSESSING OFFICERS ACTION IMPOSING P ENALTY OF RS.1,00,000/- VIDE ORDER DATED 15.07.2014 INVOLVING PROCEEDINGS U/S 271B OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT ). HEARD BOTH THE PARTIES WHO REITERATED THEIR RESPECT IVE STANDS AGAINST AND IN SUPPORT OF THE IMPUGNED PENALTY. CASE FILE PERUSED. 2. WE ADVERT TO THE RELEVANT FACTS FIRST OF ALL. T HIS ASSESSEE IS A CO-OPERATIVE SOCIETY. IT FILED ITS RETURN OF INCOME ON 30.03.201 2 ELECTRONICALLY DISCLOSING NIL INCOME. ITS GROSS RECEIPTS READ A FIGURE OF RS.20,4 2,57,002/-. THERE IS NO DISPUTE ABOUT THE DUE DATE OF FILING OF THE ABOVE RETURN TO BE 30 . 09.2011 U/S 139(1) OF THE ACT. THE ASSESSING OFFICER LEVIED PENALTY IN QUESTION AFTER CONCLUDING THAT THE ABOVE FACTS INDICATE THE INSTANT TAX PAYERS FAILURE IN SUBMITT ING ITS AUDITED BOOKS OF ACCOUNTS ON OR BEFORE THE STIPULATED DATE I.E. 30.09.2011 AS UP HELD IN THE COURSE OF LOWER APPELLATE PROCEEDINGS. ITA NO.766/KOL/2017 GOGHAT THANA LARGE SIZED PRIMAR Y CO-OP.AGRICULTURAL MARKETING SOCIETY LTD. A.Y.2011-12 2 3. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DIS PUTE THE FACT THAT THE CBDT CIRCULAR NO.5/2007 DATED 26.07.2007 CLARIFIED THAT A TAX PAYERS AUDIT REPORT U/S 44AB OF THE ACT WAS NOT TO BE ATTACHED WITH THE RETURN. THE BOARD FURTHER STIPULATED THAT THE ASSESSEE CONCERNED WOULD GET ITS BOOKS AUDITED BEFO RE THE DUE DATE OF FURNISHING OF THE RETURN AND FILL UP THE RELEVANT COLUMN ON THE BASIS OF SUCH REPORT AND THAT THE REPORT OUGHT TO BE RETAINED WITH THE TAX PAYER HIM SELF TO BE FURNISHED LATER ON IN ORIGINAL DURING ASSESSMENT PROCEEDINGS. ALL THESE F ACTS SUFFICIENTLY SHOW THAT ALTHOUGH THE ASSESSEE HAD GOT HIS BOOKS AUDITED AS PER SECTI ON 44AB OF THE ACT, IT DID NOT FURNISH THE SAME ON OR BEFORE THE DUE DATE STIPULAT ED ON 30.09.2011 AS IT HAD FILED ITS RETURN MUCH LATER. THE BOARDS ABOVE STATED BENEFIC IAL CIRCULAR; IN OUR CONSIDERED OPINION, IS DULY ATTRACTED IN THE FACTS OF THE INST ANT CASE AS IT WAS MADE EXPLICITLY CLEAR THEREIN THAT THE ASSESSEE HAD TO RETAIN THE BOOKS O F ACCOUNTS TO BE PRODUCED DURING THE COURSE OF ASSESSMENTS. WE THEREFORE TREAT THIS DEFA ULT IN QUESTION TO BE NOT WITHOUT REASONABLE CAUSE AS PER THE ABOVE BENEFICIAL CIRCUL AR. WE DELETE THE IMPUGNED PENALTY IN THESE PECULIAR FACTS AND CIRCUMSTANCES. 3. THIS ASSESSEES APPEAL IS ALLOWED. OR DER PRONOUNCED IN THE COURT ON 27.06.2018. SD/- SD/- [M.BALAGANESH] [ S.S.GODARA ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 27.06.2018. [RG SR.PS] COPY OF THE ORDER FORWARDED TO: 1.GOGHAT THANA LARGE SIZED PRIMARY CO-OPERATIVE AGR ICULTURAL MARKETING SOCIETY LTD., AT VIKDAS, P.O. 7 P.S. GOGHAT, DIST. HOOGHLY , PIN 712614. 2. I.T.O., WARD-24 (4), HOOGHLY.. 3. C.I.T.(A)- 6, KOLKATA 4. C.I.T-1, KOLKATA 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER, SENIOR PRIVATE SECRETARY HEAD OF OFFICE/D.D.O, ITAT KOLKATA BENCHES ITA NO.766/KOL/2017 GOGHAT THANA LARGE SIZED PRIMAR Y CO-OP.AGRICULTURAL MARKETING SOCIETY LTD. A.Y.2011-12 3