Ghatge Patil Automobiles Ltd., Kolhapur V. Assistant Commissioner of Income-tax,

ITA 819/PUN/2016

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 5860 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 9 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 11-06-2018
• Assessment Year: 2008-2009
• Appeal Filed On: 22-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ARISES OUT OF PASSED

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER . / ITA NO.819/PUN/2016 / ASSESSMENT YEAR : 2008-09 GHATGE PATIL AUTOMOBILES LTD., 517E, OLD PUNE BANGALORE ROAD, KOLHAPUR 416001 PAN : AAACG6596N VS. ACIT, CENTRAL CIRCLE, KOLHAPUR (APPELLANT) (RESPONDENT) / ORDER PER R.S.SYAL, VP : THIS APPEAL FILED BY THE ASSESSEE ARISES OUT OF THE ORDER PASSED BY THE CIT(A)-11, PUNE ON 09-02-2016 CONFIRMING PENALTY OF RS.62,49,109/- IMPOSED BY THE ASSESSING OFFICER U/S .271(1)(C) OF THE INCOME-TAX ACT, 1961 IN RELATION TO THE ASSESSMENT YEA R 2008-09. 2. WE HAVE HEARD THE RIVAL SUBMISSIONS AND GONE THROUGH TH E RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THE ONLY BAS IS FOR THE INSTANT PENALTY IS THE ADDITION OF RS.1,59,62,325/- WHICH W AS APPELLANT BY SHRI M.K. KULKARNI RESPONDENT BY SHRI SUDHENDU DAS DATE OF HEARING 30-01-2019 DATE OF PRONOUNCEMENT 31-01-2019 ITA NO.819/PUN/2016 GHATGE PATIL AUTOMOBILES LIMITED 2 MADE BY THE AO ON ACCOUNT OF LONG TERM CAPITAL GAIN. THE QUANTUM ADDITION WAS CHALLENGED. THE TRIBUNAL VIDE ITS ORDER DATED 11-01-2019 IN ITA NO.437/PUN/2014 HAS DELETED THE ADDITION. A COPY OF SUCH ORDER HAS BEEN PLACED ON RECOR D. THE FACT THAT THE VERY BASIS FOR IMPOSITION OF PENALTY, BEING, THE ADDITION OF RS.1.59 CRORE DOES NOT SURVIVE, THERE CAN BE NO QU ESTION OF ANY IMPOSITION OF PENALTY THEREON. WE, THEREFORE, ORDER TO DELETE THE INSTANT PENALTY. 3. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST JANUARY, 2019. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VI CE PRESIDENT PUNE; DATED : 31 ST JANUARY, 2019 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. THE CIT(A)-11, PUNE 4. 5. THE PR.CIT, CENTRAL, PUNE , , / DR B, ITAT, PUNE; 6. / GUARD FILE. / TRUE COPY // / BY ORDER, // TRUE COPY // SENIOR P RIVATE SECRETARY , / ITAT, PUNE ITA NO.819/PUN/2016 GHATGE PATIL AUTOMOBILES LIMITED 3 DATE 1. DRAFT DICTATED ON 30-01-2019 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 30-01-2019 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *