Income Tax Appellate Tribunal - Ahmedabad
The Ito, Ward-2(6),, Baroda vs M/S. Saket Corporation,, Baroda on 1 August, 2017
आयकर अपील य अ धकरण, अहमदाबाद यायपीठ ''डी' अहमदाबाद ।
IN THE INCOME TAX APPELLATE TRIBUNAL
"D" BENCH, AHMEDABAD
BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER
AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER
आयकर अपील सं./ ITA No. 1681/Ahd/2014
नधारण वष/Assessment Year: 2007-08
Income-tax Officer, Vs. M/s. Saket Corporation,
Ward-2(6), A/25-116 Krisna Industrial
Baroda Estate, BIDC, Gorwa, Boroda
PAN : ABDFS 9216 Q
अपीलाथ / (Appellant) यथ / (Respondent)
Revenue by : Shri V.K. Singh, Sr DR
Assessee by : Shri S.N. Soparkar, AR
सु न वा ई क" ता र ख/ Date
of Hearing : 15/06/2017
घोषणा क तार ख / Date of Pronouncement: 01/08/2017
आदे श/O R D E R
PER RAJPAL YADAV, JUDICIAL MEMBER:
This appeal has been filed by the Revenue against the order of the Learned Commissioner of Income-Tax (Appeals)-II, Baroda dated 07.02.2014 for Assessment Year 2007-08.
2. The only effective ground raised in this appeal is whether the CIT(A) is justified in deleting the penalty of Rs.18,11,910/- u/s 271(1)(c) of the Income-tax Act, 1961 (herein after referred to as the "the Act").
3. Briefly stated facts are that for the year under consideration the assessment u/s 143(3) of the Act was completed vide order dated 29.12.2009, making addition of Rs.53,82,915/- under Section 80IB(10) of the Act. On further appeal, the ld. CIT(A) has upheld the action of the Assessing Officer vide his order dated 26.08.2010 and confirmed the above addition made by the Assessing Officer.
ITA No. 1681/Ahd/2014ITO vs. Saket Corporation For AY: 2007-08 2
4. Subsequent to the ld. CIT(A)'s aforesaid order confirming the addition made by the Assessing Officer, penalty u/s 271(1)(c) of the Act was completed vide order dated 27.03.2012, imposing a penalty of Rs.18,11,907/- being the 100% of the tax sought to be evaded. On further appeal, the impugned penalty order was cancelled by the CIT(A) vide order dated 07.02.2014. The Revenue, being aggrieved, is in appeal before the Tribunal.
5. At the time of hearing before us, it was pointed out by the ld. Counsel that, in the quantum appeal, the Tribunal has deleted the quantum addition vide order dated 14.08.2014 in ITA No.3377/Ahd/2010- copy of the order is placed on record. When the Tribunal has already deleted the quantum addition in question, the penalty made in respect of such addition cannot survive. We, therefore, do not find any reason to interfere with the order of the ld. CIT(A) which is upheld and the Revenue's appeal is thus dismissed.
6. In the result, the appeal filed by the Revenue is dismissed.
Order pronounced in the Court on 1st August, 2017 at Ahmedabad.
Sd/- Sd/-
(PRADIP KUMAR KEDIA) (RAJPAL YADAV)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Ahmedabad; Dated 01/08/2017
Biju T., Sr.PS
आदे श क" 'त(ल)प अ*े)षत/Copyof the Order forwarded to :
1. अपीलाथ / The Appellant
2. यथ / The Respondent.
3. संबं!धत आयकर आयु#त / Concerned CIT
4. आयकर आयु#त(अपील) / The CIT(A)
5. &वभागीय त न!ध, आयकर अपील य अ!धकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड फाईल / Guard file.
/ BY ORDER,
आदे शानुसार
TRUE COPY
उप/सहायक पंजीकार (Dy./Asstt.Registrar) / ITAT, Ahmedabad आयकर अपील य अ धकरण, अहमदाबाद