Shri Samir S.Sheth, Baroda V. The ACIT.,Cent.Circle-2, Baroda

ITSSA 690/AHD/2010

• Counselvise Citation: [2013] 121 COUNSELVISE.COM (IT) 9527 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 26 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 13-11-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 03-10-2013
• Assessment Year: 2001-2002
• Appeal Filed On: 17-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: J P JHANGID SR D R
• Assessee Lawyers: S N SOPARKAR

Judgement Text

, , , , C, IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD, C BENCH . .. . . .. . , !' !' !' !', , , , #$ #$ #$ #$ %& %& %& %& , , , , &' &' &' &' ( & ' ( & ' ( & ' ( & ' BEFORE S/SHRI G.C. GUPTA, VICE-PRESIDENT AND TEJ RAM MEENA, ACCOUNTANT MEMBER) IT(SS)A NO.690/AHD/2010 [ASSTT.YEAR : 2001-2002] SHRI SAMIR S. SHETH C/O. PLASTICHEMIX INDUSTRIES 6 TH FLOOR, KIRTI TOWER TILAK ROAD, BARODA 390 005. PAN : AFOPS 8295 Q /VS. ACIT, CENT.CIR.2 BARODA. IT(SS)A NO.691/AHD/2010 [ASSTT.YEAR : 2001-2002] SHRI MAYUR S. SHETH C/O. PLASTICHEMIX INDUSTRIES 6 TH FLOOR, KIRTI TOWER TILAK ROAD, BARODA 390 005. PAN : AFOPS 8296 P /VS. ACIT, CENT.CIR.2 BARODA. ( (( (*+ *+ *+ *+ / APPELLANT) ( (( (,-*+ ,-*+ ,-*+ ,-*+ / RESPONDENT) .% / 0 &/ ASSESSEE BY : SHRI S.N. SOPARKAR ( / 0 &/ REVENUE BY : SHRI J.P. JHANGID, SR-DR 2 / %3'/ DATE OF HEARING : 3 RD OCTOBER, 2013. 456 / %3'/ DATE OF PRONOUNCEMENT : 13.11.2013 IT(SS)A NO.690 AND 691/AHD/2010 -2 &7 / O R D E R PER G.C. GUPTA, VICE-PRESIDENT: THESE APPEALS BY THE ASSESSEES FOR THE ASSESSMENT YEAR 2001-2002 ARE DIR ECTED AGAINST THE ORDERS OF THE CIT(A). 2. THE IDENTICAL GROUND OF THE APPEALS OF THE ASSES SEE IS AS UNDER: 1. THE LD.CIT(A) HAS ERRED IN LAW AND ON FACTS IN CONFIRMING THE PENALTY OF RS.15,46,000/- IN THE CAS E OF SHRI SAMIR S. SHETH AND RS.11,78,000/- IN THE CASE OF SH RI MAYUR S. SHETH LEVIED U/S.271(1)(C) OF THE ACT. UNDER THE F ACTS AND CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) OUGHT TO H AVE DELETED THE PENALTY LEVIED BY THE LD.ACIT. 3. THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT IN QUANTUM APPEALS OF THE ASSESSEE THE ISSUE OF VALIDITY OF AD DITION WAS RESTORED BY THE ITAT, AHMEDABAD IN ITA NO.1309 AND 1311/AHD/ 2009 DATED 4.5.2012 TO THE FILE OF THE CIT(A) FOR PASSING DE NOVO ORDER. IN THIS FACT, HE SUBMITTED THAT THE PENALTY IMPOSED UNDER S ECTION 271(1)(C) OF THE ACT DOES NOT SURVIVE AND MAY BE RESTORED TO THE FILE OF THE AO. THE LEARNED DR HAS SUPPORTED THE CONTENTION OF THE LEARNED COUNSEL FOR THE ASSESSEE. HOWEVER, HE SUBMITTED THAT THE I SSUE OF VALIDITY OF ADDITION HAS BEEN RESTORED TO THE FILE OF THE CIT(A ), AND THEREFORE, THE ISSUE IN THE PRESENT APPEALS OF THE ASSESSEES MAY A LSO BE RESTORED TO THE FILE OF THE CIT(A). 4. WE HAVE CONSIDERED RIVAL SUBMISSIONS. WE FIND T HAT ITAT, AHMEDABAD IN THE QUANTUM APPEALS OF THE ASSESSEE VI DE ORDER DATED 4.5.2012 (SUPRA) HAS RESTORED THE ISSUE OF VALIDITY OF ADDITION TO THE FILE OF THE CIT(A) FOR PASSING DE NOVO APPELLATE ORDER IN ACCORDANCE WITH LAW. IN THESE FACTS, WE RESTORE THE ISSUE OF VALIDITY OF PENALTY IT(SS)A NO.690 AND 691/AHD/2010 -3 IMPOSED ON THE ASSESSEES TO THE FILE OF THE CIT(A) WITH DIRECTION TO PASS DE NOVO APPELLATE ORDER IN ACCORDANCE WITH LAW, AFTER ALLO WING DUE OPPORTUNITY OF HEARING TO BOTH THE PARTIES, AND ALSO AFTER TAKING INTO CONSIDERATION THE APPELLATE ORDER, WHICH MAY B E PASSED BY THE CIT(A) IN THE QUANTUM APPEALS OF THE ASSESSEE RESTO RED TO HIS FILE BY THE TRIBUNAL. WE DIRECT ACCORDINGLY. 5. IN THE RESULT, THE APPEALS OF THE ASSESSEES ARE ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE. SD/- SD/- ( %& %& %& %& / TEJ RAM MEENA) &' ( &' ( &' ( &' ( /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