Nasik Road Deolali Vyapari Sahakari Bank Ltd., Nashik V. Director of Income-tax (CIB), Pune

ITA 827/PUN/2010

• Counselvise Citation: 82724514 RSA 2010
• Duration Of Justice: 1 year(s) 4 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 31-05-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K AMBASTHA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE BEFORE SHRI I.C. SUDHIR, JUDICIAL MEMBER AND SHRI G.S. PANNU, ACCOUNTANT MEMBER ITA NO. 827/PN/2010 (F.Y.: 2008-09) THE NASIK ROAD DEOLALI VYAPARI , ... APPELLANT SAHAKARI BANK LTD. KALPAWRUKSHA ASHANAGAR, P.B. NO. 207, NASHIK ROAD-422101 PAN AAAAT4688C V. DIRECTOR OF INCOME TAX (CIB), RESPONDENT PUNE APPELLANT BY : SHRI. PRAMOD S. SHINGTE RESPONDENT BY : SHRI S.K. AMBASTHA DATE OF HEARING : 13.10.11 DATE OF PRONOUNCEMENT: 21.10.11 ORDER PER I.C. SUDHIR, JM THE APPELLANT HAS QUESTIONED THE VALIDITY OF PENAL TY U/S. 271FA OF THE ACT LEVIED BY THE LD. DIRECTOR OF INCOME TAX (CIB), PUN E ON SEVERAL GROUNDS. 2. THE LD. A.R. CITED THE DECISION OF PUNE BENCH OF THE TRIBUNAL IN SIMILAR APPEAL IN THE CASE OF THE SHAHADA PEOPLES CO-OP. BANK, NAN DURBAR VS. THE DIRECTOR OF INCOME-TAX (CIB), PUNE, ITA NO. 1159/PN/2010, A.Y. 2009-10, ORDER DATED 13 TH DECEMBER, 2010 WHEREIN UNDER SIMILAR FACTS, THE AP PELLANT WAS ALLOWED BY THE TRIBUNAL TO WITHDRAW THE APPEAL WITH THE LIBERTY TO FILE APPEAL BEFORE THE APPROPRIATE AUTHORITY IN ACCORDANCE WITH LAW, IF SO ADVISED. THE LD. A.R. ALSO CITED THE DECISION OF AMRITSAR BENCH OF THE TRIBUNAL ON AN IDENTICAL ISSUE IN THE CASE OF SUB-REGISTRAR, NAKOAR VS. DIRECTOR OF INCOME TAX (2 011) 57 DTR ASR (TRIBUNAL) 497. 3. THE LD. D.R., ON THE OTHER HAND, PLACED RELIANCE ON THE PENALTY ORDER. ITA. NO 827/PN/2010 THE NASIK ROAD DEOLALI VYAPARI SAHAKARI BANK LTD., F.Y . 2008-09 PAGE OF 2 2 4. HAVING GONE THROUGH THE ABOVE CITED DECISIONS, W E FIND THAT PUNE BENCH OF THE TRIBUNAL IN THE CASE OF SHAHADA PEOPLES CO-OP. BANK, NANDURBAR VS. DIRECTOR OF INCOME TAX (CIB) (SUPRA) HAS ACCEPTED THE SUBMISSIO N OF THE APPELLANT THAT THE APPEAL AGAINST THE ORDER OF THE DIRECTOR OF INCOME TAX (CIB), WAS TO BE FILED BEFORE THE COMMISSIONER OF INCOME TAX (APPEAL) AS PER PROV ISIONS OF SECTION 246A(1)(Q) OF THE ACT. CONSIDERING THIS SUBMISSION, THE BENCH AC CEPTED REQUEST OF THE APPELLANT TO WITHDRAW THE APPEAL WITH THE LIBERTY TO FILE APP EAL BEFORE THE APPROPRIATE AUTHORITY IN ACCORDANCE WITH LAW, IF SO ADVISED. R ESPECTFULLY FOLLOWING THE AFORE- CITED DECISION OF THE PUNE BENCH OF THE TRIBUNAL UN DER THE SIMILAR FACTS, WE ALLOW THE APPELLANT TO WITHDRAW THE PRESENT APPEAL WITH T HE LIBERTY TO FILE APPEAL BEFORE THE APPROPRIATE AUTHORITY, IN ACCORDANCE WITH LAW, IF SO ADVISED. 5. CONSEQUENTLY, THE APPEAL IS TREATED AS DISMISSED BEING NON-MAINTAINABLE BEFORE THE TRIBUNAL. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 21ST OCTOBER, 2011 SD/- SD/- ( G.S. PANNU ) ACCOUNTANT MEMBER (I.C. SUDHIR ) JUDICIAL MEMBER PUNE, DATED THE 21ST OCTOBER, 2011 US COPY OF THE ORDER IS FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT , CONCERNED 4. THE D.R. A BENCH, PUNE 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL PUNE