MIHIR MADHAVRAO SURYAWANSHI,PUNE vs. INCOME TAX OFFICER , WARD -11(2), PUNE, PUNE

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. GODARA, JUDICIAL MEMBER निर्धारण वषा / Assessment Year : 2013-14 Mihir Madhavrao Suryawanshi Vs. ITO, Plot No.7, Gujrat Colony, Paud Ward-11(2), Road, Kothrud, Pune – 411038 Pune PAN : AHYPS3597B Appellant Respondent

Assessee by Shri M.R. Shirude Revenue by Shri M.G. Jasnani Date of hearing 02-06-2022 Date of pronouncement 06-06-2022 आदेश / ORDER PER S.S. GODARA, JM : This assessee‟s appeal for AY 2013-14 arises against the CIT(A)-1, Pune‟s order dated 27-11-2019 passed in case No. PN/CIT(A)-1/ITO, WD11(2)/PN/47/2017-18 involving proceedings under Section 271(1)(c) of the Income Tax Act, 1961, in short „the Act‟. Heard both the parties. Case file perused. 2. It emerges at the outset that the assessee has sought to reverse both the learned lower authorities action invoking section 271(1)(c) of the Act thereby imposing penalty of Rs.13,66,999/- in 2 Mihir Madhavrao Suryawanshi

the assessing authority‟s order dated 18.05.2017 as affirmed in the CIT(A)‟s detailed discussion in issue. 3. Both the learned Representatives are very much in agreement during the course of hearing that the impugned penalty has arisen in consequence to the lower authorities action disallowing the assessee‟s section 54F deduction claim of Rs.66,35,931/-. And that this tribunal‟s co-ordinate bench‟s order dated 16.12.2019 in assessee‟s quantum appeal ITA No.313/PUN/2017 has already deleted the foregoing 54F disallowance and therefore, we conclude that the penalty in issue herein has no legs to stands as a necessary corollary. Ordered accordingly. The assessee succeeds in his instant sole substantive ground. 4. This assessee‟s appeal is allowed in above terms.

Order pronounced in the Open Court on 6th June, 2022. (R.S.SYAL) JUDICIAL MEMBER पुणे Pune; ददिधांक Dated : 6th June, 2022 GCVSR

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आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: अपीऱधर्थी / The Appellant; 1. प्रत्यर्थी / The Respondent; 2. 3. The CIT(A)-1, Pune 4. The Pr.CIT-1, Pune विभागीय प्रविविवि, आयकर अपीलीय अविकरण, पुणे “B” / 5. DR „B‟, ITAT, Pune 6. गार्ड फाईल / Guard file आदेशानुसार/ BY ORDER, //// Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 02-06-2022 Sr.PS 2. Draft placed before author 03-06-2022 Sr.PS 3. Draft proposed & placed before the JM second member 4. Draft discussed/approved by Second JM Member. 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.