The ITO, Ward-2(2), Surat V. Shri Neeraj kumbhat, Surat

ITSSA 673/AHD/2010

• Counselvise Citation: [2014] 119 COUNSELVISE.COM (IT) 3107 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 17-10-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 09-09-2014
• Assessment Year: 2006-2007
• Appeal Filed On: 27-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SONIA KUMAR
• Assessee Lawyers: S N SOPARKAR

Judgement Text

, , , , D, IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD, D BENCH . .. . . .. . , !' !' !' !', , , , #$ #$ #$ #$ # ## #. .. .# ## #. . . . % % % %, , , , &' ( & ' &' ( & ' &' ( & ' &' ( & ' BEFORE S/SHRI G.C. GUPTA, VICE-PRESIDENT AND N.S. SAINI, ACCOUNTANT MEMBER) IT(SS)A NO.673/AHD/2010 [ASSTT.YEAR : 2006-2007] ITO, WARD-2(2) SURAT. /VS. SHRI NEERAJ KUMBHAT 410, AJANTA PARK NR.ATOP NAGAR, BHATAR ROAD SURAT. PAN : ABGPK 4031 N ( (( ( *+ *+ *+ *+ / APPELLANT) ( (( ( ,-*+ ,-*+ ,-*+ ,-*+ / RESPONDENT) ( . / & / REVENUE BY : SMT.SONIA KUMAR, SR.DR 12 . / & / ASSESSEE BY : SHRI S.N. SOPARKAR 3 . 24' / DATE OF HEARING : 9 TH SEPTEMBER, 2014 567 . 24' / DATE OF PRONOUNCEMENT : 17.10.2014 &8 / O R D E R PER G.C. GUPTA, VICE-PRESIDENT: THIS APPEAL OF THE REVENUE FOR THE A.Y.2006-07 IS DIRECTED AGAINST THE ORDER OF TH E CIT(A). 2. THE ONLY EFFECTIVE GROUND OF THE APPEAL OF THE R EVENUE IS AS UNDER: IT(SS)A NO.673/AHD/2010 -2- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CIT(A) HAS ERRED IN CANCELING THE PENALTY OF RS. 8,41,500/- LEVIED 3. THE LEARNED DR SUBMITTED THAT THE ONLY ISSUE IN THIS GROUND OF THE APPEAL OF THE REVENUE IS REGARDING VALIDITY OF PENA LTY LEVIED UNDER SECTION 271(1)(C) OF THE ACT BY THE AO AND DELETED BY THE C IT(A). SHE REFERRED TO THE RELEVANT PORTIONS OF THE PENALTY ORDER IN SUPPO RT OF THE CASE OF THE REVENUE. THE LEARNED COUNSEL FOR THE ASSESSEE SUB MITTED THAT THE ISSUE IN THIS APPEAL OF THE REVENUE IS COVERED IN FAVOUR OF THE ASSESSEE WITH THE DECISION OF THE ITAT, AHMEDABAD BENCH IN ASSESSEES OWN CASE FOR A.Y.2007-08 IN ITA NO.917/AHD/2010 ORDER DATED 12.7 .2013, WHEREIN IN IDENTICAL FACTS, THE ISSUE WAS DECIDED IN FAVOUR OF THE ASSESSEE AND THE REVENUES APPEAL WAS DISMISSED. HE RELIED ON THE O RDER OF THE CIT(A). 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND ALS O PERUSED THE ORDERS OF THE AO AND THE CIT(A) AND ALSO ORDER OF T HE CO-ORDINATE BENCH OF THE ITAT, AHMEDABAD IN ASSESSEES OWN CASE FOR A .Y.2007-08 DATED 12.7.2013 (SUPRA), WHEREIN IN SIMILAR FACTS HELD TH AT THE OBJECTION OF THE REVENUE IS THAT THE ASSESSEE HAS NOT SPECIFIED IN I TS STATEMENT, THE MANNER IN WHICH SUCH INCOME (UNDISCLOSED INCOME) HAS BEEN DERIVED, IS BASELESS AND THE CIT(A)S APPELLATE ORDER WAS CONFIRMED AND THE REVENUES APPEAL WAS DISMISSED. WE FIND THAT THE CIT(A)HAS RECORDED IN HIS APPELLATE ORDER THAT AS PER THE DECISION OF THE HONBLE GUJARAT HIG H COURT IN CIT VS. MAHENDRA C. SHAH, 172 TAXMANN 58, THE IMMUNITY IS G RANTED TO THE APPELLANT UNDER EXPLANATION 5 TO SECTION 271(1)(C) OF THE ACT, EVEN IF THE MANNER IS NOT SPECIFIED IN THE STATEMENT U/S.132(4) OF THE ACT. IN THE ABSENCE OF ANY MATERIAL TO CONTROVERT THE FINDINGS OF THE CIT(A), AND WE BEING IN AGREEMENT WITH THE DECISION OF THE CO-ORDI NATE BENCH OF THE ITAT, AHMEDABAD IN ASSESSEES OWN CASE FOR A.Y.2007 -08, DECIDE THE IT(SS)A NO.673/AHD/2010 -3- ISSUE IN FAVOUR OF THE ASSESSEE, AND THE GROUND OF THE APPEAL OF THE REVENUE IS DISMISSED. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE. SD/- SD/- ( # ## # . .. . # ## # . . . . % % % % /N.S.SAINI) &' ( &' ( &' ( &' ( /ACCOUNTANT MEMBER ( . .. . . .. . /G.C. GUPTA) !' !' !' !' /VICE-PRESIDENT C OPY OF THE ORDER FORWARDED TO: 1) : APPELLANT 2) : RESPONDENT 3) : CIT(A) 4) : CIT CONCERNED 5) : DR, ITAT. BY ORDER DR/AR, ITAT, AHMEDABAD