Sri. K. .N. Prabhakar, Bangalore V. ACIT, Bangalore

ITSSA 5/BANG/2011

• Counselvise Citation: [2012] 121 COUNSELVISE.COM (IT) 8328 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 6 month(s) 11 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 07-08-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: misc
• Appeal Filed On: 27-01-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUSAN THOMAS JOSE
• Assessee Lawyers: PRATHIBHA; SHEETAL BORKAR S

Judgement Text

IT(SS)A.5 & 6/BANG/2011 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH 'B', BANGALORE BEFORE SHRI. N. BARATHVAJA SANKAR, VICE PRESIDENT AND SHRI. N. V. VASUDEVAN, JUDICIAL MEMBER I.T(SS)A NO.05 & 06/BANG/2011) (BLOCK PERIOD : 01.04.1996 TO 18.12.2002) 1. SHRI. K. N. PRABHAKAR, 2. SHRI. K. N. SRINIVAS, NO.193, 3 RD MAIN, 5 TH CROSS, CHAMARAJPET, BANGALORE .. APPELLANTS PAN : AKVPP5679D V. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -3(1), BANGALORE .. RESPONDENT APPELLANT BY : SMT. PRATHIBHA & SMT. SHEETAL BORKAR , ADVOCATES RESPONDENT BY : SMT. SUSAN THOMAS JOSE, JCIT DATE OF HEARING : 07.08.2012 DATE OF PRONOUNCEMENT : 07.08.2012 O R D E R PER BENCH : THESE TWO APPEALS FILED BY THE REPRESENTATIVE ASSE SSES ARE AGAINST SEPARATE ORDERS OF THE CIT(A)-II, BANGALORE, DEALIN G WITH PENALTY U/S.158BFA(2) OF THE INCOME-TAX ACT, 1961. IT(SS)A.5 & 6/BANG/2011 PAGE - 2 02. WE HAVE HEARD THE PARTIES AND CONSIDERED THE FA CTS AND MATERIALS ON RECORD. IT IS BROUGHT TO OUR NOTICE THAT THE HONB LE HIGH COURT HAS RESTORED THE QUANTUM APPEALS BACK TO THE FILE OF THE AO. SI NCE THE QUANTUM APPEALS ON WHICH THIS PENALTY MATTER PIVOT ARE NON-EXISTENT , THESE PENALTY ORDERS HAVE NO LEGS TO STAND. IN THIS VIEW OF THE MATTER, WE ALLOW THE APPEALS OF THE ASSESSEE. THE ASSESSING OFFICER IS AT LIBERTY TO I NITIATE PENALTY PROCEEDINGS IN THE SET ASIDE PROCEEDINGS PURSUANT TO THE ORDER OF THE HON'BLE HIGH COURT, IF SO NEEDED. 03. IN THE RESULT, THE APPEALS ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AFTER THE HEARIN G, ON 07.08.2012. SD/- SD/- (N. V. VASUDEVAN) (N. BARATHVAJA SANKAR) JUDICIAL MEMBER VICE PRESIDENT