Guptex Pvt. Ltd.,, Surat v. The Income tax Officer, Ward-1(2),, Surat

ITA 3483/AHD/2008 | 1998-1999
Pronouncement Date: 21-05-2010 | Result: Allowed

Appeal Details

RSA Number 348320514 RSA 2008
Assessee PAN AAACG8628F
Bench Ahmedabad
Appeal Number ITA 3483/AHD/2008
Duration Of Justice 1 year(s) 6 month(s) 30 day(s)
Appellant Guptex Pvt. Ltd.,, Surat
Respondent The Income tax Officer, Ward-1(2),, Surat
Appeal Type Income Tax Appeal
Pronouncement Date 21-05-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted D
Tribunal Order Date 21-05-2010
Date Of Final Hearing 20-05-2010
Next Hearing Date 20-05-2010
Assessment Year 1998-1999
Appeal Filed On 22-10-2008
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL : D BENCH : AHMEDABAD CAMP AT SURAT (BEFORE HONBLE SHRI T.K. SHARMA J.M. & HONBLE SH RI D.C. AGRAWAL A.M.) I.T.A. NOS. 3483 TO 3485/AHD./2008 ASSESSMENT YEAR : 1998-99 TO 2000-2001 GUPTEX PVT. LTD. SURAT -VS.- INCOME TAX OFFICER WARD-1(2) SURAT (PAN : AAACG 8628 F) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI R.N. VEPARI RESPONDENT BY : SHRI SANJEEV KASHYAP SR. D.R. O R D E R PER SHRI T.K. SHARMA JUDICIAL MEMBER : THESE THREE APPEALS FILED BY THE ASSESSEE ARE AGAI NST THE THREE SEPARATE ORDERS ALL DATED 07.08.2008 OF LEARNED COMMISSIONER OF INCOME TAX(AP PEALS)-I SURAT CONFIRMING THE PENALTY OF RS.6 33 880/- RS.16 01 941/- AND RS.7 76 463/- LEV IED BY THE ASSESSING OFFICER UNDER SECTION 271(1)(C) FOR THE ASSESSMENT YEARS 1998-99 TO 2000- 01 RESPECTIVELY. 2. BRIEFLY STATED THE FACTS ARE THAT THE ASSESSEE I S A COMPANY ENGAGED IN THE BUSINESS OF MANUFACTURING AND TRADING OF YARN. THE ASSESSEE BAS ICALLY DOES TEXTURISING AND HAS EOU AT PLOT NO. G-1 VILLAGE PIPODARA TAL. MANGROL SURAT. THE UNIT OF THE ASSESSEE WAS GRANTED APPROVAL OF 100% EOU BY THE CONCERNED AUTHORITIES AND WAS THER EFORE ENTITLED FOR IN BOUNDED WAREHOUSE UNDER SECTION 58 OF THE CUSTOM ACT. IN AN ACTION CA RRIED OUT ON 5.1.99 THE CENTRAL EXCISE AND CUSTOMS AUTHORITIES FOUND DISCREPANCY OF PAYMENT OF EXCISE ON SALE OF IMPORTED GOODS. ON THIS BASIS THE ASSESSING OFFICER MADE THE ASSESSMENT FO R ALL THE THREE ASSESSMENT YEARS WHEREIN ADDITION WAS MADE ON SUPPRESSION ON PURCHASES OR SA LES ON THE PART OF THE ASSESSEE. THE YEAR- WISE ADDITION MADE FOR ALL THE THREE ASSESSMENT YEA RS UNDER APPEALS ARE AS UNDER :- ASSESSMENT YEAR AMOUNT OF ADDITION 1998-1999 RS.18 11 085/- 2 ITA NO. 3483-3485/AH D/2008 1999-2000 RS.45 76 974/- 2000-2001 RS.16 12 786/- IN THE ASSESSMENT YEAR 2000-01 ONE MORE ITEM OF EX PENDITURE WAS DISALLOWED I.E. RS.4 04 000/- FOR UNEXPLAINED CASH CREDIT IN RESPECT OF SHARE CAP ITAL. THESE ADDITIONS WERE CONFIRMED BY THE LD. CIT(A). SUBSEQUENTLY THE ASSESSING OFFICER LEVIED PENALTIES UNDER SECTION 271(1)(C) AMOUNTING TO RS.6 33 880/- RS.16 01 941/- AND RS.7 76 463/- FOR THE ASSESSMENT YEARS 1998-99 TO 2000-01 RESPECTIVELY. THESE PENALTIES LEVIED BY THE ASSESSI NG OFFICER AND CONFIRMED BY THE LD. CIT(A) IN THE IMPUGNED ORDER. AGGRIEVED BY THE ORDER OF LD. C IT(A) CONFIRMING THE PENALTIES LEVIED UNDER SECTION 271(1)(C) IN RESPECT OF ALL THE THREE ASSES SMENT YEARS THE ASSESSEE IS IN APPEALS BEFORE THE TRIBUNAL. 3. AT THE TIME OF HEARING ON BEHALF OF ASSESSEE SH RI R.N. VEPARI LD. COUNSEL APPEARED AND PRODUCED A COPY OF THE DECISION DATED 15.01.2010 OF ITAT AHMEDABAD BENCH AHMEDABAD (CAMP AT SURAT) IN ITA NOS. 2776 2777 & 2778/AHD/2 006 FOR THE ASSESSMENT YEARS 1998-99 TO 2000-01 IN ASSESSEES OWN CASE WHEREIN THE ADDITIO NS MADE BY THE ASSESSING OFFICER IN RESPECT OF SUPPRESSION OF SALES FOR ALL THE THREE ASSESSMEN T YEARS AND CASH CREDIT IN RESPECT OF SHARE CAPITAL FOR THE ASSESSMENT YEAR 2000-01 WERE DELETE D. THE LD. COUNSEL OF THE ASSESSEE ACCORDINGLY SUBMITTED THAT SINCE THE ADDITIONS IN RESPECT OF WH ICH ASSESSING OFFICER LEVIED PENALTIES IN RESPECT OF ALL THE THREE ASSESSMENT YEARS STAND DE LETED BY THE TRIBUNAL VIDE ORDER DATED 15.01.2010 IN ITA NOS. 2776 2777 & 2778/AHD/2006 ( SUPRA) THEREFORE THE PENALTIES LEVIED BY THE ASSESSING OFFICER AND CONFIRMED BY THE LD. CIT( A) BE CANCELLED. 4. ON THE OTHER HAND SHRI SANJEEV KASHYAP SR. D.R . APPEARING ON BEHALF OF THE REVENUE COULD NOT CONTROVERT THE AFORESAID SUBMISSIONS MADE BY THE LD. COUNSEL OF THE ASSESSEE. 5. WE HAVE CAREFULLY GONE THROUGH THE ORDERS OF AUT HORITIES BELOW AND PERUSED THE MATERIAL AVAILABLE ON RECORD. ADMITTEDLY THE ADDITIONS IN R ESPECT OF SUPPRESSION OF SALES FOR ALL THE THREE ASSESSMENT YEARS AS MENTIONED IN PARA 2 ABOVE AS WE LL AS THE ADDITION OF RS.4 04 000/- FOR UNEXPLAINED CASH CREDIT IN RESPECT OF SHARE CAPITAL FOR THE ASSESSMENT YEAR 200-01 STAND DELETED BY THE TRIBUNAL THERE REMAINS NOTHING TO LEVY PENA LTY UNDER SECTION 271(1)(C) OF THE INCOME TAX 3 ITA NO. 3483-3485/AH D/2008 ACT. WE THEREFORE CANCEL THE PENALTIES LEVIED BY THE ASSESSING OFFICER UNDER SECTION 271(1)(C) FOR ALL THE THREE ASSESSMENT YEARS UNDER APPEALS. 6. IN THE RESULT ALL THE APPEALS FILED BY THE ASSE SSEE ARE ALLOWED. THE ORDER WAS PRONOUNCED IN THE COURT ON 21.05.2010 . SD/- SD/- (D.C. AGRAWAL) (T.K. SHARMA ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 21 / 05 /2010 COPY OF THE ORDER IS FORWARDED TO : 1) THE ASSESSEE (2) THE DEPARTMENT. 3) CIT(A) CONCERNED (4) CIT CONCERNED (5) D.R. ITAT AHMEDABAD. TRUE COPY BY ORDER DEPUTY REGISTRAR ITAT AHMEDABAD LAHA/SR.P.S.