Income Tax Appellate Tribunal - Ahmedabad
Sabic Research And Technologies Pvt. ... vs Assessee on 10 June, 2016
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD "B" BENCH
Before: Shri Pramod Kumar, Accountant Member
and Shri S. S. Godara, Judicial Member
ITA Nos. 457 & 458/Ahd/2015
Assessment Year 2004-05 & 2005-06
SABIC Research and The ACIT,
Technology Pvt. Ltd, Circle-2(1)(1),
Plot No. 5 & 6, Savli Vs Baroda
GIDC Estate, Manjusar, (Respondent)
Baroda-391775
PAN: AABCS7650L
(Appellant)
ITA No. 576 & CO No. 54/Ahd/2015
Assessment Year 2005-06
The ACIT, SABIC Research and
Circle-2(1)(1), Technology Pvt. Ltd, Plot
Baroda Vs NO. 5 & 6, Savli GIDC
(Appellant) Estate, Manjusar,
Baroda-391775
PAN: AABCS7650L
(Respondent/Cross
Objector)
Revenue by: Shri Ashish Pophare, Sr. D.R.
Assessee by: Shri Dhinal Shah, A.R.
Date of hearing : 08-06-2016
Date of pronouncement : 10-06-2016
I.T.A No. 457, 458 & 576 & CO No. 54 /Ahd/2015 A.Y. 2004-05 & 05-06 Page No 2
SABIC Research & Training Pvt. Ltd. vs. ACIT
आदेश /ORDER
PER BENCH:-
This is a batch of four cases in assessment years 2004-05 and 2005-06. Former assessment year involves assesee's appeal ITA 457/Ahd/2015 preferred against order of the CIT(A) dated 30-012- 2014 in case no. CAB/(A)-2/043/2014-15 confirming penalty of Rs, 56,77,300/- as imposed by the Assessing Officer in order dated 25- 03-2013, in proceedings u/s. 271(1)(c) of the Income Tax Act, 1961; in short "the Act".
We come to latter assessment year 2005-06 now. The assessee has filed ITA 458/Ahd/2015 against the CIT(A)'s order dated 30-12-2014 in case no. CAB/(A)-2/042/2014-15 and confirming identical penalty of Rs. 8,68,595/- imposed by the Assessing Officer in order dated 28-03-2013. The Revenue's cross appeal ITA 576/Ahd/2015 also arises against the very lower appellate order deleting penalty of Rs. 27,97,317/- and assessee's cross objection therein supports the CIT(A)'s action deleting the impugned penalty. These proceedings are also under section 271(1)(c) of the Act
2. Learned counsel representing assessee as well as Revenue submit at the outset that all these impugned penalties subject matter I.T.A No. 457, 458 & 576 & CO No. 54 /Ahd/2015 A.Y. 2004-05 & 05-06 Page No 3 SABIC Research & Training Pvt. Ltd. vs. ACIT of the instant appeals/cross objection stem out of the two re- assessments framed by the Assessing Officer on 21-01-2010 in both assessment years. The assessee places before us copy of the tribunal's order dated 24-07-2015 in ITA Nos. 1065 & 1066/Ahd/2012 in quantum proceedings quashing the above stated reassessments as not sustainable in the eyes of law. Both the learned representatives are ad-idem that the impugned penalties have got no legs to stand once quantum reassessments stand quashed. We accept assessee's appeals challenging above stated penalties in both the impugned assessment years. The Revenue's cross appeal filed in the latter assessment year seeking to revive the above stated penalty fails accordingly. The assessee's cross objection therein is rendered infructuous. Ordered accordingly.
3. Assessee's appeals ITA 457 & 458/Ahd/2015 are allowed. Revenue's appeal ITA 576/Ahd/2015 is dismissed and assessee's cross objection in Revenue's cross appeal is rendered infructous.
Order pronounced in the open court on 10-06-2016 Sd/- Sd/-
(PRAMOD KUMAR) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad : Dated 10/06/2016 ak
आदेश क त ल प अ े षत / Copy of Order Forwarded to:-
1. Assessee
2. Revenue I.T.A No. 457, 458 & 576 & CO No. 54 /Ahd/2015 A.Y. 2004-05 & 05-06 Page No 4 SABIC Research & Training Pvt. Ltd. vs. ACIT
3. Concerned CIT
4. CIT (A)
5. DR, ITAT, Ahmedabad
6. Guard file.
By order/आदेश से, उप/सहायक पंजीकार आयकर अपील य अ धकरण, अहमदाबाद