M/s. Garden Silk Mills,, Surat v. The ACIT., Cent.Circle-1(1),, Surat

CO 4/AHD/2009 | 2003-2004
Pronouncement Date: 13-12-2010 | Result: Dismissed

Appeal Details

RSA Number 420523 RSA 2009
Assessee PAN AAACG8932C
Bench Ahmedabad
Appeal Number CO 4/AHD/2009
Duration Of Justice 1 year(s) 11 month(s)
Appellant M/s. Garden Silk Mills,, Surat
Respondent The ACIT., Cent.Circle-1(1),, Surat
Appeal Type Cross Objection
Pronouncement Date 13-12-2010
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 13-12-2010
Date Of Final Hearing 13-12-2010
Next Hearing Date 13-12-2010
Assessment Year 2003-2004
Appeal Filed On 12-01-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL : D BENCH : AHMEDABAD (BEFORE HONBLE SHRI T.K. SHARMA J.M. & HON' BLE SHRI A.N. PAHUJA A.M. ) I.T.A. NO. 3935/AHD./2008 ASSESSMENT YEAR : 2003-2004 ASSISTANT COMMISSIONER OF INCOME TAX -VS.- M/S . GARDEN SILK MILLS LTD. SURAT CIRCLE-1 SURAT (PAN : AAACG 8932 C) (APPELLANT) (RESP ONDENT) & C.O. NO. 04/AHD/2009 (ARISING OUT OF ITA NO. 3935/AHD/2008) ASSESSMENT YEAR : 2003-2004 M/S. GARDEN SILK MILLS LTD. SURAT -VS.- ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 SURAT (CROSS OBJECTOR) (RESPONDENT) ASSESSEE BY : SHRI VIJAY RANJAN DEPARTMENT BY : SMT. SHALINI VERMA D.R . O R D E R PER BENCH : THIS APPEAL FILED BY THE REVENUE AND CROSS OBJECTI ON BY THE ASSESSEE ARE AGAINST THE ORDER DATED 16.09.2008 OF LEARNED COMMISSIONER OF I NCOME TAX (APPEALS)-I SURAT FOR THE ASSESSMENT YEAR 2003-04. 2. THE ONLY GROUND RAISED BY THE REVENUE IN ITS APP EAL IS THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN DELETING THE PENALTY UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT 1961. 3. AT THE TIME OF HEARING BEFORE US BOTH SIDES CON CEDED THAT THE ADDITION MADE IN THE ASSESSMENT ORDER ON THE BASIS OF WHICH PENALTY FOR CONCEALMENT IS LEVIED UNDER SECTION 271(1)(C) IS DELETED BY THE ITAT D BENCH AHMEDABAD VIDE O RDER DATED 08.05.2009 IN ASSESSEES OWN CASE IN ITA NO. 2877/AHD/2006 FOR THE ASSESSMENT YE AR 2003-04. THUS THERE REMAINS NO BASIS AT ALL FOR LEVYING THE PENALTY FOR CONCEALMENT. IN VIEW OF THIS THE IMPUGNED ORDER OF LEARNED COMMISSIONER OF INCOME TAX(APPEALS) CANCELLING THE PENALTY OF RS.45 93 750/- LEVIED UNDER SECTION 271(1)(C) IS UPHELD AND THE APPEAL OF THE R EVENUE IS DISMISSED. 2 ITA NO. 3935-AHD-2008 & CO-04-AHD-2009 4. THE GROUNDS OF CROSS OBJECTION FILED BY THE ASSE SSEE WERE NOT PRESSED BY THE LD. COUNSEL OF THE ASSESSEE AT THE TIME OF HEARING. IN VIEW OF THIS THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED BEING NOT PRESSED. 5. IN THE RESULT THE APPEAL FILED BY THE DEPARTMEN T AS WELL AS THE CROSS OBJECTION BY THE ASSESSEE BOTH ARE DISMISSED. THE ORDER WAS PRONOUNCED IN THE COURT ON 13.12.20 10 SD/- SD/- (A.N. PAHUJA) (T.K. SHARMA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 13/ 12 / 2010 COPY OF THE ORDER IS FORWARDED TO : 1) THE ASSESSEE (2) THE DEPARTMENT. 3) CIT(A.) CONCERNED (4) CIT CONCERNED (5) D.R. ITAT AHMEDABAD. TRUE COPY BY ORDER DEPUTY REGI STRAR ITAT AHMEDABAD LAHA/SR.P.S.P