Income Tax Appellate Tribunal - Lucknow
M/S Rave Entertainment Pvt. Ltd., ... vs Department Of Income Tax on 26 February, 2016
1
IN THE INCOME TAX APPELLATE TRIBUNAL
LUCKNOW BENCH "A", LUCKNOW
BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER
AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER
ITA No.599/LKW/2015
Assessment Year : 2005 - 2006
Addl. C.I.T., Vs. M/s Rave Entertainment (P) Ltd.,
Special range, Jagran Building,
Kanpur. 2, Sarvodaya Nagar,
Kanpur.
PAN : AABCR5768A
(Appellant) (Respondent)
Appellant by Shri P. K. Kapoor, C.A.
Respondent by Shri Amit Nigam, Sr. D.R.
Date of hearing 19/02/2016
Date of pronouncement 26/02/2016
ORDER
PER A. K. GARODIA, A.M.
This is Revenue's appeal directed against the order passed by the CIT(A)-II Kanpur on 27/05/2015 for A. Y. 2005 - 06.
2. The revenue has raised as many as 4 grounds but the only grievance of the revenue e is about deletion of penalty of Rs. 106,79,749/- imposed by the A.O. u/ 271 (1) (c) of the I. T. Act, 1961.
3. Heard both sides. This is the main argument that this issue is covered in favour of the assessee by the Judgment of Hon'ble Allahabad High court rendered in assessee's own case for AY 2006 - 07 as reported in 376 ITR
544. In that year also, penalty was imposed after disallowing the claim of the assessee u/s 80IB as in the present year. Learned DR of the revenue 2 could not point out any difference in facts. Hence by respectfully following this Judgment of Hon'ble Allahabad High court rendered in assessee's own case for AY 2006 - 07, we decline to interfere in the order of CIT (A).
4. In the result, the appeal of the revenue is dismissed.
(Order was pronounced in the open court on the date mentioned on the caption page) Sd/. Sd/.
(SUNIL KUMAR YADAV) ( A. K. GARODIA ) Judicial Member Accountant Member Dated:26th February, 2016. *Singh Copy of the order forwarded to : 1. The Appellant 2. The Respondent. 3. Concerned CIT 4. The CIT(A) 5. D.R., I.T.A.T., Lucknow Asstt. Registrar