The ITO Ward-4 Rajahmundry, Rajahmundry v. The Agricultural Market Committee, Rajahmundry

ITA 246/VIZ/2011 | 2003-2004
Pronouncement Date: 26-12-2011 | Result: Allowed

Appeal Details

RSA Number 24625314 RSA 2011
Assessee PAN AACTA0347F
Bench Visakhapatnam
Appeal Number ITA 246/VIZ/2011
Duration Of Justice 5 month(s) 4 day(s)
Appellant The ITO Ward-4 Rajahmundry, Rajahmundry
Respondent The Agricultural Market Committee, Rajahmundry
Appeal Type Income Tax Appeal
Pronouncement Date 26-12-2011
Appeal Filed By Department
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 26-12-2011
Date Of Final Hearing 15-12-2011
Next Hearing Date 15-12-2011
Assessment Year 2003-2004
Appeal Filed On 22-07-2011
Judgment Text
ITA NO.246/VIZAG/2011 AGRICULTURAL MARKET COMMITTEE RAJAHMUNDRY PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH VISAKHAPATNAM BEFORE: SHRI D MANMOHAN VICE PRESIDENT AND SHRI BR BASKARAN ACCOUNTANT MEMBER ITA NO.246/VIZAG/2011 ASSESSMENT YEAR: 2003-04 ITO WARD-4 RAJAHMUNDRY AGRICULTURAL MARKET COMMITTEE RAJAHMUNDRY (APPELLANT) PAN NO: AACTA 0347F VS. (RESPONDENT) APPELLANT BY: SMT. D. KOMALI KRISHNA CIT(DR) RESPONDENT BY: N O N E DATE OF HEARING: 15.12.2011 DATE OF PRONOUNCEMENT: 26.12.2011 ORDER PER SHRI B. R. BASKARAN ACCOUNTANT MEMBER: THE APPEAL OF THE REVENUE IS DIRECTED AGAINST THE O RDER DATED 24.05.2011 PASSED BY LEARNED CIT(A) RAJAHMUNDRY AN D IT RELATES TO THE ASSESSMENT YEAR 2003-04. NONE APPEARED ON BEHALF O F THE ASSESSEE THOUGH THE NOTICE WAS SERVED UPON THE ASSESSEE. HE NCE WE PROCEED TO DISPOSE OF THE APPEAL EX-PARTE QUA THE ASSESSEE. 2. THE PENALTY OF RS.18 28 200/- LEVIED UNDER SECTI ON 271(1)(C) OF THE ACT HAVING BEEN DELETED BY LEARNED CIT(A) THE REV ENUE IS IN APPEAL BEFORE US. 3. THE FACTS RELATING TO THE ISSUE ARE STATED IN BR IEF. THE ASSESSEE IN RESPONSE TO NOTICE UNDER SECTION 148 OF THE INCOME- TAX ACT ISSUED FOR THE YEAR UNDER CONSIDERATION FILED THE RETURN OF INCOM E DECLARING NIL INCOME ITA NO.246/VIZAG/2011 AGRICULTURAL MARKET COMMITTEE RAJAHMUNDRY PAGE 2 OF 3 BY CLAIMING EXEMPTION OF ITS ENTIRE INCOME UNDER SE CTION 10(26AAB) OF THE ACT. HOWEVER THE ASSESSING OFFICER DID NOT ACCEPT THE CLAIM OF EXEMPTION AND ACCORDINGLY COMPUTED THE TOTAL INCOME OF THE AS SESSEE AT RS.58 90 477/-. THEREAFTER THE ASSESSING OFFICER LEVIED A MINIMUM PENALTY OF RS.18 28 200/- ALSO UNDER SECTION 271(1)(C) OF T HE ACT. THE ASSESSEE CHALLENGED THE PENALTY ORDER IN APPEAL FILED BEFORE LEARNED CIT(A). BEFORE THE FIRST APPELLATE AUTHORITY IT WAS BROUGHT TO HI S NOTICE THAT THE HON'BLE ITAT VISAKHAPATNAM VIDE ITS ORDER DATED 12.08.201 0 IN ITA NO.27/VIZAG/2009 HAD ALLOWED THE CLAIM OF EXEMPTIO N UNDER SECTION 10(26AAB) OF THE ACT IN THE QUANTUM APPEAL FILED BY IT. ACCORDINGLY THE LEARNED CIT(A) DIRECTED THE ASSESSING OFFICER TO DE LETE THE IMPUGNED PENALTY WITH THE FOLLOWING OBSERVATIONS: LATER TO THIS THE HON'BLE ITAT VISAKHAPATNAM VIDE ITA NO.27/VIZAG/2009 IN ITS ORDER DATED 12.08.2010 ALLO WED THE SUBSTANTIVE APPEAL OF THE APPELLANT AND HELD THAT T HE INCOME OF THE AGRICULTURAL MARKET COMMITTEE IS EXEMPT. IN VIEW O F THE ABOVE DECISION THE ADDITION ITSELF IS NO MORE EXISTS AND HENCE THE PENALTY THEREON DOES NOT STAND. THE ASSESSING OFFI CER IS DIRECTED TO DELETE THE PENALTY LEVIED. HENCE THE REVENUE IS IN APPEAL BEFORE US ASSAILING THE DECISION OF LEARNED CIT(A). 4. THE LEARNED DEPARTMENTAL REPRESENTATIVE SMT. KO MALI KRISHNA SUBMITTED THAT THE DECISION OF HON'BLE ITAT VISAKH APATNAM WHICH WAS RELIED UPON BY LEARNED CIT(A) HAS SINCE BEEN R EVERSED BY HON'BLE ANDHRA PRADESH HIGH COURT. ACCORDINGLY SHE SUBMITTED THAT THE IMPUGNED ISSUE NEEDS TO BE CONSIDERED AFRESH AT THE END OF THE LEARNED CIT(A). SINCE NO MATERIAL WAS PLACED BEFOR E US BY THE ASSESSEE TO OPPOSE THE SUBMISSIONS MADE BY LEARNED DR WE FIND MERIT IN HER SUBMISSIONS. ACCORDINGLY WE SET ASID E THE ORDER OF ITA NO.246/VIZAG/2011 AGRICULTURAL MARKET COMMITTEE RAJAHMUNDRY PAGE 3 OF 3 LEARNED CIT(A) AND RESTORE THE ISSUE TO HIS FILE WI TH A DIRECTION TO CONSIDER THE SAME AFRESH IN ACCORDANCE WITH THE LAW . 5. IN THE RESULT THE APPEAL OF THE REVENUE IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. . PRONOUNCED ACCORDINGLY ON 26.12.2011 SD/- SD/- (D MANMOHAN) (B R BASKARAN) VICE PRESIDENT ACCOUNTANT M EMBER VG/SPS VISAKHAPATNAM DATE:26 TH DECEMBER 2011 COPY TO 1 ITO WARD-4 RAJAHMUNDRY 2 THE AGRICULTURAL MARKET COMMITTEE KORUKONDA ROAD RAJAHMUNDRY 3 4. THE CIT RAJAHMUNDRY THE CIT(A) RAJAHMUNDRY 5 THE DR ITAT VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM