M/s. Mavin Texturisers Pvt.Ltd.,, Surat v. The Dy.CIT.,Circle-1,, Surat

ITA 1963/AHD/2011 | 2005-2006
Pronouncement Date: 30-04-2015 | Result: Allowed

Appeal Details

RSA Number 196320514 RSA 2011
Assessee PAN AACCM4411G
Bench Ahmedabad
Appeal Number ITA 1963/AHD/2011
Duration Of Justice 3 year(s) 8 month(s) 22 day(s)
Appellant M/s. Mavin Texturisers Pvt.Ltd.,, Surat
Respondent The Dy.CIT.,Circle-1,, Surat
Appeal Type Income Tax Appeal
Pronouncement Date 30-04-2015
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted D
Tribunal Order Date 30-04-2015
Date Of Final Hearing 23-04-2015
Next Hearing Date 23-04-2015
Assessment Year 2005-2006
Appeal Filed On 08-08-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: SHRI SHAILENDRA KR. YADAV JUDICIAL MEMBER AND SHRI ANIL CHATURVEDI ACCOUNTANT MEMBER MAVIN TEXTURISE R S PVT LTD 2 ND FLOOR CORPORATE BUILDING BOMBAY MARKET SURAT. PAN: AACCM4411G (APPELLANT) VS DY COMMISSION ER OF INCOME TAX CIRCLE 1 SURAT (RESPONDENT) REVENUE BY: SMT. SONIA KUMAR SR.D.R. ASSESSEE BY: SHRI MEHUL R. SHAH A.R. DATE OF HEARING : 23-04-2015 DATE OF PRONOUNCEMENT : 30-04-2015 / ORDER PER : SHAILENDRA KR. YADAV JUDICIAL MEMBER:- BOTH THESE APPEALS HAVE BEEN FILED BY THE ASSESSEE AGAINST THE RESPECTIVE ORDER FOR A.Y. 2005-06 AND 2 006-07 AGAINST PENALTY ORDERS U/S. 271(1)(C). SO THEY HA VE BEEN DISPOSED OF BY A COMMON ORDER FOR THE SAKE OF CONVE NIENCE. ITA NO. 1963-1964/AHD/2011 ASSESSMENT YEAR 2005-06 TO 06-07 I.T.A NO. 1963-1964/AHD/2011 A.Y. 2005-06 & 2006-07 PAGE NO MAVIN TEXTRURISERS PVT. LTD VS. DCIT 2 2. IN ITA NO. 1963/AHD/2011 FOR A.Y. 2005-06 THE ASSESSEE HAS FILED THE APPEAL ON FOLLOWING GROUND:- 1. ON THE FACTS AND IN CIRCUMSTANCES OF THE CASE A S WELL AS ON THE SUBJECT THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) HAS ERRED IN CONFIRMING THE AC TION OF ASSESSING OFFICER IN LEVYING A PENALTY OF RS. 14 83 964/- U/S. 271(1)(C) OF THE ACT. 3. AT THE OUTSET OF HEARING LD. AR POINTED OUT THA T IN QUANTUM PROCEEDINGS ISSUE HAS BEEN DECIDED IN FAVOU R OF ASSESSEE IN ITA NO. 2296/AHD/2008 FOR A.Y. 2005-06 BY OBSERVING AS UNDER:- 5 AT THE TIME OF HEARING BOTH SIDES CONCEDED THAT THE CONTROVERSY INVOLVED IN THIS APPEAL IS SQUARELY COV ERED IN FAVOUR OF ASSESSEE BY THE DECISION OF ITAT C BENCH AHMEDABAD IN ITA NO. 1044/AHD/2007 FOR THE ASSESSMENT YEAR 2004-05 IN ASSESSEE'S OWN CASE. IT IS PERTINENT TO NOTE THAT IN THE ASSESSMENT YEAR 2004- 05 ITAT B BENCH AHMEDABAD FALLOWING THE DECISION D ATED 10.11.2009 IN THE CASE OF NANGALM SYNTHETICS PVT. L TD IN ITA NO. 2213/AHD/2008 DIRECTED THE ASSESSING OFFICE R TO ALLOW DEPRECIATION @ 50%. WE THEREFORE FOLLOWI NG THE DECISION OF ITAT C BENCH AHMEDABAD IN ITA NO. 1044/AHD/2007 FOR THE ASSESSMENT YEAR 2004-05 IN AASESSEE'S OWN CASE (SUPRA) DIRECT THE ASSESSING OF FICER TO ALLOW DEPRECIATION @ 50%. RESULTANTLY THE APPEA L OF THE ASSESSEE IS ALLOWED. WHICH HAS NOT BEEN DISPUTED BY LD. DR. THUS POSIT ION EMERGED THAT QUANTUM ADDITION WHICH IS THE BASIS FO R PENALTY IN QUESTION HAS BEEN DECIDED IN FAVOUR OF ASSESSEE. SO PENALTY IN QUESTION DOES NOT SURVIVE. ACCORDINGLY THE SAME IS I.T.A NO. 1963-1964/AHD/2011 A.Y. 2005-06 & 2006-07 PAGE NO MAVIN TEXTRURISERS PVT. LTD VS. DCIT 3 DIRECTED TO BE DELETED. AS A RESULT THE APPEAL FI LED BY THE ASSESSEE IS ALLOWED. 4. SIMILAR ISSUE AROSE IN A.Y. 2006-07 AND AGAIN IT WAS POINTED OUT THAT ISSUE IN QUANTUM PROCEEDINGS IN IT A NO. 1453/AHD/2009 FOR A.Y. 2006-07 HAS BEEN DECIDED IN FAVOUR OF ASSESSEE WHICH IS THE BASIS OF PENALTY IN QUESTI ON. SO PENALTY IN QUESTION DOES NOT SURVIVE BECAUSE BASIS OF THE SAME HAS GONE. ACCORDINGLY THIS APPEAL OF THE ASSESSEE IS ALSO ALLOWED. 5. IN RESULT BOTH THE APPEALS FILED BY THE ASSESSE E ARE ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE AT CAPTION PAGE I.E. 30-04-2015 SD/- SD/- (ANIL CHATURVEDI) (SHAILENDRA KR. YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 30/04/2015 AK / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR ITAT AHMEDABAD 6. GUARD FILE. BY ORDER/ / I.T.A NO. 1963-1964/AHD/2011 A.Y. 2005-06 & 2006-07 PAGE NO MAVIN TEXTRURISERS PVT. LTD VS. DCIT 4