ACIT, v. Apoorva Ppropertiies & Estat4es Pvt.Ltd.,

ITA 470/PUN/2009 | 2003-2004
Pronouncement Date: 13-08-2010 | Result: Dismissed

Appeal Details

RSA Number 47024514 RSA 2009
Assessee PAN AABCA5787C
Bench Pune
Appeal Number ITA 470/PUN/2009
Duration Of Justice 1 year(s) 3 month(s) 23 day(s)
Appellant ACIT,
Respondent Apoorva Ppropertiies & Estat4es Pvt.Ltd.,
Appeal Type Income Tax Appeal
Pronouncement Date 13-08-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 13-08-2010
Assessment Year 2003-2004
Appeal Filed On 20-04-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV JUDICIAL MEMBER AND SHRI D. KARUNAKARA RAO ACCOUNTANT MEMBER I.T.A. NO. 470/PN/2009 ( A.Y. 2003-04 ) ASSTT. COMMISSIONER OF INCOME TAX CIRCLE- 1(1) PU NE APPELLANT VS. APOORVA PROPERTIES & ESTATES PVT. LTD. RESPONDENT KUMAR CAPITAL 2413 EAST STREET CAMP PUNE 411 001 PAN :- AABCA5787C APPELLANT BY: SHRI ABHAY DAMLE RESPONDENT BY: SHRI R.G. AMIWAL ORDER PER D. KARUNAKARA RAO AM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE IMPUGNED ORDER OF THE CIT(A)-I PUNE PASSED U/S. 271(1)(C ) LEVYING PENALTY OF RS. 75 00 000/-. THE GROUNDS RAISED READ AS UNDER : 1) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE THE LEARNED CIT(APPEALS) ERRED IN DELETING THE PENALTY OF RS. 75 00 000/- LEVIED U/S. 271(1)(C ) OF THE I.T. ACT. 2) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E THE LEARNED CIT (APPEALS) FAILED TO APPRECIATE THAT THE ASSESSEE CLAIMED A WRONG DEDUCTION U/S 80IB(10) OF THE I.T. ACT AMOUNTING TO RS. 2 15 08 480/- AND THE DISALLOWANCE HAS BEEN SUSTAINED IN APPEAL. 2. DURING THE PROCEEDINGS BEFORE AT THE VERY OUTSE T LD COUNSEL INFORMED US THAT THE QUANTUM ADDITIONS ARE DELETED BY THE TRIBUNAL VIDE ITA NO. 113/PN/2007 ORDER DT. 21 ST AUGUST 2009. LR DR FOR THE REVENUE RELIED ON THE ORDER OF THE AO. WE HAVE HEAR D THE PARTIES AND PERUSED THE MATERIAL ON RECORD. PAGE 2 OF 2 ITA NO.470/PN/2009 APOORVA PROPERTIES & ESTATE P. LTD A.Y. 2003-04 3. ON PERUSAL WE FIND THAT THE QUANTUM APPEAL IS D ECIDED IN FAVOUR OF THE ASSESSEE VIDE ITA NO. 113/PN/2007 ORDER DT. 21 ST AUGUST 2009. SINCE THE VERY ADDITIONS ARE DELETED BY THE TRIBUNA L THE LEVY OF PENALTY ON THOSE ADDITIONS DOES NOT STAND. WE THE REFORE FIND NO REASON TO INTERFERE IN THE ORDER OF THE CIT(A). ACC ORDINGLY THE GROUNDS OF THE REVENUE ARE DISMISSED . 3. IN THE RESULT REVENUES APPEAL IS DISMISSED . ORDER PRONOUNCED ON THE 13TH AUGUST 2010. SD/- SD/- ( SHAILENDRA KUMAR YADAV) JUDICIAL MEMBER (D. KARUNAKARA RAO ) ACCOUNTANT MEMBER PUNE DATED THE 13TH AUGUST 2010 US COPY OF THE ORDER IS FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A)- I PUNE 4. THE CIT- I PUNE 5. THE D.R A BENCH PUNE 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL PUNE