Income Tax Appellate Tribunal - Ahmedabad
The Acit, Circle-3,, Vadodara vs Chandrikaben R. Patel,, Dharmaj on 22 January, 2018
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Ckh अहमदाबाद ।
आयकर अपील
य अ धकरण, अहमदाबाद यायपीठ
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IN THE INCOME TAX APPELLATE TRIBUNAL
" B " BENCH, AHMEDABAD
सव ी एन.के. ब लैया, लेखा सद य एवं महावीर साद, या यक सद य के सम ।
BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER And
SHRI MAHAVIR PRASAD, JUDICIAL MEMBER
आयकर अपील सं./I.T.A.
No.2049/Ahd/2015
( नधा रण वष / Assessment Year : 2008-09)
DCIT, बनाम/ Chandrikaben R. Patel,
Circle - 1(3), Vs. C/o. Prannath
3 r d Floor, Room No.302, Petroleum,
Aaykar Bhavan, Nr. Jalaram Mandir,
Race Course Circle, Dharmaj Chowkdi,
Vadodara - 390 007 Dharmaj- 388 430
थायी ले खा सं . /जीआइआर सं . / PAN/GIR No. : AERPP 3062 N
(अपीलाथ' /Appellant) .. ( (यथ' / Respondent)
अपीलाथ' ओर से / Appellant by : Ms. Sonia Kumar, Sr. D.R.
(यथ' क* ओर से/Respondent by : Shri P. M. Mehta, A.R.
ु वाई क* तार.ख /
सन Date of Hearing 17/01/2018
घोषणा क* तार.ख /Date of Pronounce ment 22/01/2018
आदे श / O R D E R
PER MAHAVIR PRASAD, JUDICIAL MEMBER :
This is an appeal by the department against the order of the Commissioner of Income Tax (Appeals)-5, Vadodara dated 20/03/2015 for deleting the penalty of Rs.46,59,400/- levied u/s.271(1)(c) of the Income Tax Act for Assessment Year (A.Y.) 2008-09, on the following Grounds:
1. "On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in deleting the penalty of Rs.46,59,400/-
levied u/s.271(1)(c) of the I.T. Act by not appreciating the fact ITA No.2049/Ahd/2015 DCIT vs. Chandrikaben R. Patel A.Y. 2008-09.
-2-that changing the head of income was a deliberate attempt of assessee to reduce the tax liability."
2. The relevant facts as culled out from the materials on record are as under:-
In this case, the assessee filed her return of income on 31st July, 2008 declaring total income of Rs.1,44,94,890/-. The return of income was processed u/s.143(1) of the Act. On selection of scrutiny, the same was assessed u/s.143(3) was completed on 22/12/2010 at an income of Rs.1,44,94,890/-. However, the AO has treated the Short Term Capital Gain on Rs.1,37,07,905/- offered by the assessee as business income and penalty u/s.271(1)(c) was initiated for furnishing inaccurate particulars of income. Thereafter, the assessee filed an appeal before the ld. CIT(A) who deleted the penalty.
3. Now department's appeal is before us.
4. We have gone through the relevant record and impugned order. Ld. AR cited an order in ITA No.2483/Ahd/2011 for Asst. Year 2008-09. In assessee quantum case, Co-ordinate Bench restored the quantum matter to the file of the AO with following observation:
"Therefore, we feel that interest of justice would be met in case the issue raised in the present case is also remitted back to the Assessing Officer for a fresh decision in the light of his consequential order being passed in earlier assessment years. We order accordingly. The assessee's grounds stands set aside to the file of Assessing Officer.
6. The assessee's appeal is allowed for statistical purposes."ITA No.2049/Ahd/2015
DCIT vs. Chandrikaben R. Patel A.Y. 2008-09.
-3-5. Since in quantum appeal, co-ordinate bench has restored the matter back to the file of the AO. Therefore, we also send this penalty matter back to the file of the AO to decide afresh alongwith quantum matter.
6. In the result, appeal of the department is dismissed.
This Order pronounced in Open Court on 22/01/2018
Sd/- Sd/-
एन.के. ब लैया महावीर साद
(लेखा सद य) ( या यक सद य)
( N.K. BILLAIYA ) ( MAHAVIR PRASAD )
ACCOUNTANT MEMBER JUDICIAL MEMBER
Ahmedabad; Dated 22/01/2018
Priti Yadav, Sr. PS
आदे श क त"ल#प अ$े#षत/Copy of the Order forwarded to :
1. अपीलाथ' / The Appellant
2. (यथ' / The Respondent.
3. संबं6धत आयकर आयु8त / Concerned CIT
4. आयकर आय8
ु त(अपील) / The CIT(A)-5, Vadodara.
5. 9वभागीय त न6ध, आयकर अपील.य अ6धकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड फाईल / Guard file.
आदे शानुसार/ BY ORDER, स(या9पत त //True Copy// उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपील य अ धकरण, अहमदाबाद / ITAT, Ahmedabad