Suresh Keshav Wani, Aurangabad V. Income-tax Officer, Ward - 1 (2), Aurangabad

ITA 992/PUN/2019

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 1453 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 09-07-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: IS DIRECTED AGAINS T PASSED
• Section: 13; 148

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.992/PUN/2019 / ASSESSMENT YEAR : 2005-06 SURESH KESHAV WANI, CHANDRALOK NAGARI, ROOM NO.11, A/P. KANNAD, AURANGABAD 431 103 PAN : BGZPA2253B VS. ITO, WARD-1(2), AURANGABAD APPELLANT RESPONDENT / ORDER PER R.S.SYAL, VP : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PA SSED BY THE CIT(A)-1, AURANGABAD ON 06-05-2019 CONFIRMING TH E PENALTY OF RS.1,24,440/- IMPOSED BY THE ASSESSING OFFICE R (AO) U/S.271(1)(C) OF THE INCOME-TAX ACT, 1961 (HEREINAFTER CA LLED THE ACT) IN RELATION TO THE ASSESSMENT YEAR 2005-06. 2. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT THE ASSESS ING OFFICER COMPLETED THE ASSESSMENT U/S.144 R.W.S. 148 OF TH E ACT ON TOTAL INCOME OF RS.6,10,000/- TOWARDS CAPITAL GAIN. THEREAF TER, ASSESSEE BY SHRI K. SRINIVASAN REVENUE BY SHRI S.P. WALIMBE DATE OF HEARING 13-12-2019 DATE OF PRONOUNCEMENT 13-12-2019 ITA NO.992/PUN/2019 SURESH KESHAV WANI 2 PENALTY OF RS.1,24,440/- WAS IMPOSED BY THE AO U/S.271( 1)(C) ON ACCOUNT OF SUCH ADDITION WHICH CAME TO BE CONFIRMED IN THE FIRST APPEAL. 3. HAVING HEARD BOTH THE SIDES AND PERUSED THE RELEVANT MA TERIAL ON RECORD, IT IS NOTICED THAT THE QUANTUM APPEAL OF THE ASSESS EE CAME UP FOR CONSIDERATION BEFORE THE TRIBUNAL. VIDE ORDER DATED 09-10-2019 THE TRIBUNAL IN ITA NO.782/PUN/2018 HAS RESTORED THE MATTER TO THE FILE OF AO FOR FRESH CONSIDERATION AND DECISION. SINCE THE MATTER IN QUANTUM PROCEEDINGS HAS BEEN RESTORED TO THE FILE OF THE ASSESSING OFFICER, WE ARE OF THE CONSIDERED OPINION THAT IT WOULD BE IN THE FITNESS OF THINGS IF THE MATTER CONCERNING THE PENALTY ON SUCH AMOUNT IS ALSO SENT BACK TO BE DECIDED IN CONFORMIT Y WITH THE VIEW TAKEN BY THE ASSESSING OFFICER IN THE PROCEEDINGS PURSUANT TO THE DIRECTIONS GIVEN BY THE TRIBUNAL. WE ORDER ACCORDINGLY. NEEDLESS TO SAY, THE ASSESSEE WILL BE ALLOWED A REASONABLE OPPORTUNITY OF HEARING IN THIS REGARD. OUR VIEW IN RESTORING THE PENALTY TO THE AO IS FORTIFIED BY THE JUDGMENT OF THE HONBLE SUPREME COURT IN THE CASE OF MOHD. MOHATRAM FAROOQUI VS. CIT (SC) 2010-TIOL-23-SC-IT IN WHICH IT HAS BEEN HELD THAT IF ADDITION IS RESTORED TO THE AO, THEN PENALTY SHOULD ALSO BE RESTORED. THE ITA NO.992/PUN/2019 SURESH KESHAV WANI 3 HONBLE DELHI HIGH COURT IN SANJAY GUPTA VS. CIT (2014) 366 ITR 18 (DEL) HAS ALSO HELD THAT WHERE THE QUANTUM HAS BEEN REMANDED TO THE AO, THE QUESTION OF PENALTY ON ACCOUNT OF THE SAID AMOU NT BEING TREATED AS UNDISCLOSED INCOME, SHOULD ALSO BE REMANDED TO TH E AO. 4. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES . ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH DECEMBER, 2019. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VIC E PRESIDENT PUNE; DATED : 13 TH DECEMBER, 2019 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. THE CIT(A)-1, AURANGABAD 4. 5. 6. THE CIT-1, AURANGABAD , , / DR B, ITAT, PUNE; / GUARD FILE. / BY ORDER, // TRUE COPY // SENIOR P RIVATE SECRETARY , / ITAT, PUNE ITA NO.992/PUN/2019 SURESH KESHAV WANI 4 DATE 1. DRAFT DICTATED ON 13-12-2019 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 13-12-2019 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. *