Income Tax Appellate Tribunal - Ahmedabad
United Engineering Works, Vapi vs Department Of Income Tax
आयकर अपीलीय अिधकरण,
अिधकरण, अहमदाबाद Ûयायपीठ 'बी
बी'
बी अहमदाबाद ।
IN THE INCOME TAX APPELLATE TRIBUNAL
" B " BENCH, AHMEDABAD
सव[ौी मुकुल कुमार ौावत, Ûयाियक सदःय एवं ौी अिनल चतुवद
ȶ ȣ, लेखा सदःय के सम¢ ।
BEFORE SHRI MUKUL Kr.SHRAWAT, JUDICIAL MEMBER And
SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER
आयकर अपील सं./I.T.A. No.422/Ahd/2012
( िनधा[रण वष[ / Assessment Year : 2005-06)
Asst.CIT बनाम/
United Engineering Works
Vapi Circle Vs. Plot No.45
Vapi Khadoli Industrial Estate
Silvassa
ःथायी ले खा सं . /जीआइआर सं . / PAN/GIR No. : AAFU 7356 B
(अपीलाथȸ /Appellant) .. (ू×यथȸ / Respondent)
अपीलाथȸ ओर से / Appellant by : Shri Samir Tekriwal, Sr.D.R.
ू×यथȸ कȧ ओर से/Respondent by : -None-
सुनवाई कȧ तारȣख / Date of Hearing : 16/04/12
घोषणा कȧ तारȣख /Date of Pronouncement : 20/4/12
आदे श / O R D E R
PER SHRI MUKUL Kr. SHRAWAT, JUDICIAL MEMBER :
This is an appeal at the behest of the Revenue which has emanated from the order of Learned CIT(Appeals)-Valsad dated 19.11.2011 and the only ground is in respect of deletion of penalty levied u/s.271(1)(c) of the I.T.Act.
2. Facts in brief as emerged from the corresponding penalty order passed u/s.271(1)(c) of the I.T. Act, 1961 dated 29/03/2010 and assessment order made u/s.143(3) dated 28/12/2007 were that the ITA No.422/Ahd/2012 Asst.CIT vs. United Engg Works Asst.Year - 2005-06 -2- assessee-firm is engaged in the manufacturing of M S Ingots profiles. The assessee is stated to be eligible for a deduction u/s.80-IB of the I.T.Act since situated in a backward Union Territory. It was noted by the Assessing Officer that the assessee has shown a sum of Rs.9,75,093/- under the head "sundry creditors" in the name of Thakkursons Auto Ancillary (I) Ltd. On verification from the said party, it was noticed by the Assessing Officer that no amount was shown receivable from the assessee. The impugned amount was added as unexplained creditor. In the first appeal, the said quantum addition was confirmed by the ld.CIT(A). During the course of penalty proceedings, certain details were provided to the Assessing Officer along with copy of ledger account of the creditor and copies of the bills issued by the said creditor. An another fact was also narrated that considering the action of the Assessing Officer that the liability has ceased to exist, therefore after receiving the assessment order, the assessee has added back the amount due and by invoking the provisions of section 41 offered to tax in Financial Year 2007-08. The ld.CIT(A) has discussed certain provisions of the Act and placing reliance on CIT vs. Sugauli Sugar Works P.Ltd. 236 ITR 518 (SC) and CIT vs. Chase Bright Steel Ltd. 177 ITR 128 (Bom.) has held that as far as the question of levy of penalty is concerned, considering the subsequent action of the assessee, the issue of concealment is to be decided in the light of the ratio laid down in the judgement of Reliance Petroproducts (P.) Ltd. 322 ITR 158 (SC). The Learned CIT(Appeals) has held that all the relevant information was duly disclosed by the assessee and there was no allegation that the assessee has furnished inaccurate particulars.
ITA No.422/Ahd/2012Asst.CIT vs. United Engg Works Asst.Year - 2005-06 -3-
3. On the date of hearing, no one was present from the side of the respondent-assessee, however, we have heard ld.DR who has placed reliance on the penalty order. Considering the totality of the facts and circumstances of the case; as also the legal position, as discussed hereinabove, we hereby confirm the legal as well as factual finding of the Learned CIT(Appeals). Accordingly we hold that this was not a fit case for levy of concealment penalty. Resultantly, ground of the Revenue is dismissed.
4. In the result, the appeal of the Revenue is dismissed.
Sd/- Sd/-
( ANIL CHATURVEDI ) ( MUKUL Kr. SHRAWAT )
ACCOUNTANT MEMBER JUDICIAL MEMBER
Ahmedabad; Dated 20 / 4 /2012
टȣ.सी.नायर, व.िन.स./T.C. NAIR, Sr. PS
आदे श कȧ ूितिलǒप अमेǒषत/Copy
षत of the Order forwarded to :
1. अपीलाथȸ / The Appellant
2. ू×यथȸ / The Respondent.
3. संबंिधत आयकर आयुƠ / Concerned CIT
4. आयकर आयुƠ(अपील) / The CIT(A)-Valsad
5. ǒवभागीय ूितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड[ फाईल / Guard file.
आदे शानुसार/ BY ORDER, स×याǒपत ूित //True Copy// उप/सहायक पंजीकार (Dy./Asstt.Registrar) उप/ आयकर अपीलीय अिधकरण, अिधकरण, अहमदाबाद / ITAT, Ahmedabad