DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, PUNE, PMT BUILDING SWARGATE, PUNE vs. VISHNU PUNDLIK PASHANKAR, PUNE
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Income Tax Appellate Tribunal, PUNE “B” BENCH : PUNE : [VIRTUAL HEARING]
Before: SHRI SATBEER SINGH GODARA & SHRI AMARJIT SINGH,
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “B” BENCH : PUNE : [VIRTUAL HEARING]
BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, , ACCOUNTANT MEMBER I.T.A.No.873/PUN./2023 [E-APPEAL] Assessment Year 2015-2016 Vishnu Pundlik Pashankar, D102, Windsor Residency, The DCIT, Circle-2, C/o. Mahesh Pashankar PMT Bldg., Shankar Baner, Baner Balewadi Phata vs. Sheth Road, Swargate, Opp. Ganesh Datta Mandir, Pune – 411 037 Pune – 411 045 Maharashtra. Maharashtra. PAN AAQPP9498R (Appellant) (Respondent) For Assessee : Shri Rohit Shah For Revenue : Shri Sourabh Nayak, Addl. CIT Date of Hearing : 09.02.2024 Date of Pronouncement : 28.02.2024 ORDER PER SATBEER SINGH GODARA, J.M. :
This Revenue’s appeal for assessment year 2015- 2016, arises against the National Faceless Appeal Centre [in short “NFAC”] Delhi’s Din and Order No. ITBA/NFAC/S/250/ 2023-24/1053624494(1), dated 08.06.2023, involving proceedings u/s.271 of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties. Case file perused.
It emerges at the outset with the able assistance coming from both the parties that there is hardly any need for
2 I.T.A.No.873/PUN./2023 us to delve with the relevant factual matrix at length so far as the Revenue’s sole substantive grievance herein seeking to revive sec.271(1)(c) penalty of Rs.1,43,16,869/- is concerned. This is for the precise reason that the same pertains to corresponding quantum of long term capital gains addition of Rs.6,31,81,249/- made by the Assessing Officer in his sec.143(3) assessment dated 28.12.2017 which already stands deleted in assessee’s appeal ITA.No.428/PUN./2019 decided on 07.07.2021. That being the case and in absence of any change in this clinching factual factual backdrop, we are of the considered view that the impugned penalty hardly has any legs to stand. The Revenue’s instant sole substantive grievance seeking to revive the same is rejected in very terms. Ordered accordingly.
All other issues on merits raised in the Revenue’s instant appeal stand rendered academic.
This Revenue’s appeal is dismissed in above terms.
Order pronounced in the open Court on 28.02.2024.
Sd/- Sd/- [AMARJIT SINGH] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 28th February, 2024
VBP/-
3 I.T.A.No.873/PUN./2023 Copy to 1. The appellant 2. The respondent 3. The ACIT, Circle-2, Income Tax Office, PMT Bldg., Shankar Sheth Road, Pune – 411 037. Maharashtra 4. The CCIT, Pune 5. D.R. ITAT, “B” Bench, Pune. 6. Guard File.
//By Order//
//True Copy //
Assistant Registrar, ITAT, Pune Benches, Pune.
