Income Tax Appellate Tribunal - Ahmedabad
Synbiotics Limited,, Baroda vs Dcit Circle 2 (1) (1), Baroda on 17 November, 2017
आयकर अपील
य अ धकरण, अहमदाबाद यायपीठ 'lh' अहमदाबाद ।
IN THE INCOME TAX APPELLATE TRIBUNAL
" C " BENCH, AHMEDABAD
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(BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER &
SHRI AMARJIT SINGH, ACCOUNTANT MEMBER)
S.P. No. 129/Ahd/2017
(In ITA No. 1705/Ahd/2017)
( नधा रण वष / Assessment Year: 2008-09)
Synbiotics Ltd., बनाम/ The DCIT.
Sarabhai Campus, Vs. Circle - 2(1)(1),
Gorwa Raod, Baroda - Baroda.
390023
थायी ले खा सं . /जीआइआर सं . / PAN/GIR No. : AACCS 9831 Q
(अपीलाथ /Appellant) .. ( यथ / Respondent)
अपीलाथ ओर से /Appellant by : Shri S. N. Soparkar. A.R
यथ क ओर से/Respondent by : Shri V.K. Singh, Sr. D.R.
ु वाई क तार ख /
सन Date of Hearing 17/11/2017
घोषणा क तार ख /Date of Pronounce ment 17/11/2017
आदे श / O R D E R
PER MAHAVIR PRASAD, JUDICIAL MEMBER :
For this case, assessee has filed Stay Petition regarding stay on demand raised on account of penalty levied u/s.271(1)(c) of the I.T. Act.
2. The brief facts of the case are that the AO has levied penalty proceedings in respect of made on Capital Gain on sale of factory land on the basis of addition made as per the direction of the ITAT order dated 11/04/2016 as per which FMV was taken @ 980 per sq. mtr. instead of Rs.250 taken by the AO and Rs.550 directed by the ld. CIT(A).
-2-3. During the course of stay proceeding before us the ld. Counsel has contended that on the identical issue the Co-ordinate Bench of the ITAT has deleted the penalty in the case of Ambalal Sarabhai Enterprises Ltd., in ITA Nos.1859 & 1860/Ahd/2016 for A.Y.2008-09 & 2009-10. After heard the both sides, we are of the considered opinion that in this case stay is not required. However, after considering the plea of both the parties, we are considered that out of term of hearing is to be granted in this case. Therefore, we are direct the registry to list this case for out of term hearing on 22/11/2017.
4. In view of the above facts, the Stay Petition of the assessee is dismissed as mentioned above.
This Order pronounced in Open Court on 17/11/2017
Sd/- Sd/-
vejthr flag महावीर साद
(लेखा सद य) ()या*यक सद य)
( AMARJIT SINGH ) ( MAHAVIR PRASAD )
ACCOUNTANT MEMBER JUDICIAL MEMBER
Ahmedabad; Dated 17/ 11/2017
Priti Yadav, Sr.PS
-3-
आदे श क त"ल#प अ$े#षत/Copy of 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. 0वभागीय *त*न-ध, आयकर अपील य अ-धकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड5 फाईल / Guard file.
आदे शानुसार/ BY ORDER, स या0पत *त //True Copy// उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपील य अ धकरण, अहमदाबाद / ITAT, Ahmedabad
1. Date of dictation 17/11/2017(dictation-pad 1 pages attached at the end of this appeal-file)
2. Date on which the typed draft is placed before the Dictating Member ...17/11/2017
3. Other Member...
4. Date on which the approved draft comes to the Sr.P.S./P.S.................
5. Date on which the fair order is placed before the Dictating Member for pronouncement......
6. Date on which the fair order comes back to the Sr.P.S./P.S.......
7. Date on which the file goes to the Bench Clerk.....................
8. Date on which the file goes to the Head Clerk..........................................
9. The date on which the file goes to the Assistant Registrar for signature on the order..........................
10. Date of Despatch of the Order..................