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Income Tax Appellate Tribunal, AHMEDABAD “C” BENCH AHMEDABAD
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH AHMEDABAD
BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA No. 2360/Ahd/2015 (Assessment Year: 2009-10) M/s. Govindbhai R. Chaudhary, L/106/1263, Shree Nagar Apartment, Sola Road, Ahmedabad Appellant Vs. Income Tax Officer, Ward-6(2), Ahmedabad Respondent PAN: AAHPC0832H
आवेदक क� ओर से/By Assessee : P. G. Tulsian, A.R. राज�व क� ओर से/By Revenue : Soniya Kumar, Sr. D.R. सुनवाई क� तार�ख/Date of Hearing : 03.10.2017 घोषणा क� तार�ख/Date of Pronouncement : 12.10.2017
ORDER PER S. S. GODARA, JUDICIAL MEMBER
This assessee’s appeal for assessment year 2009-10 arises against the CIT(A)-4, Ahmedabad’s order dated 05th June, 2015 in case no. CIT(A)- 4/241/ITO.6(2)/14-15, upholding Assessing Officer’s action imposing penalty of Rs.1,08,880/-, in proceedings u/s. 271(1)(c) of the Income Tax Act, 1961; in short “the Act”. Heard both sides. Case file perused.
Learned counsel representing assessee states at the outset that both the lower authorities have imposed the impugned penalty pertaining to quantum addition of
ITA No. 2360/Ahd/15 [M/s. Govindbhai R . Chaudhary vs. ITO] A.Y. 2009-10 - 2 -
Rs.6.05lacs in the nature of short term capital gains arising from sale of non agricultural land. He thereafter files before us a co-ordinate bench quantum order in assessee’s CO No. 214/Ahd/2012 decided on 18.07.2016 remitting the issue of disallowance of short term capital loss of Rs.2,89,332/- against the above short term capital gains back to the Assessing Officer for afresh adjudication. His case therefore is that quantum proceedings are yet to be finalized. Learned Departmental Representative fails to dispute all these intervening developments on quantum side during the pendency of the instant penalty appeal. We therefore observe that the impugned penalty has no legs to stand as of now. We therefore remit the instant penalty issue as well back to Assessing Officer’s file to be finalized after the above quantum proceedings. The assessee’s sole substantive ground is accepted for statistical purposes.
This assessee’s appeal is allowed for statistical purposes.
[Pronounced in the open Court on this the 12th day of October, 2017.]
Sd/- Sd/- (MANISH BORAD) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad: Dated 12/10/2017