Top Media Entertainment Ltd. Ahmedabad

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IN THE INCOME TAX APPELLATE TRIBUNAL
?B? BENCH ? AHMEDABAD

(BEFORE S/SHRI BHAVNESH SAINI, JM AND D. C. AGRAWAL, AM)

ITA No.572/Ahd/2009
A. Y.: 2003-04

The Income Tax Officer, Vs Top Media Entertainment Ltd.,
Ward 8(1), Ahmedabad C/o. Shri Indrajeet Singh
Vaghela, 202-A, Asavuri
Complex, B/h. Fun Republic,
Satelite, Ahmedabad
PA No. AAACN 5306 R
(Appellant) (Respondent)

Appellant by Shri K. Madhusudan, Sr. DR
Respondent by Shri S. N. Divetia, AR

O R D E R

PER BHAVNESH SAINI: This appeal by the revenue is
th
directed against order of the CIT(A)-XIV, Ahmedabad dated 30

December, 2008 for assessment year 2003-04, challenging the

cancellation of the penalty levied u/s 271 (1) ( c ) of the IT Act.

2. The learned CIT(A) noted that in the assessment completed u/s

143(3) of the IT Act, the AO disallowed the claim of loss of sale of

shares of Rs.17,31,07,400/- and further disallowed claim of

depreciation and electricity expenses of residential flat amounting to

Rs.12,44,937/-. The AO initiated penalty proceedings u/s 271 (1) ( c )

of the IT Act and vide separate order imposed penalty. The learned

CIT(A) however, canceled the penalty and allowed the appeal of the

assessee.
———————Page 2———————

ITA No.572/Ahd/2009 2
ITO, W 8(1), Ahmedabad Vs Top Media Entertainment Ltd.

3. The learned Counsel for the assessee at the outset submitted

that the quantum addition was subject matter in appeal before the

Tribunal in the case of the same assessee in ITA No.3328/Ahd/2008

for same assessment year and the Tribunal vide order dated 02-12-

2008 by following the preceding assessment year order of the

Tribunal set aside the orders of the authorities below on quantum and

restored the matter to the file of the learned CIT(A) to decide the

issues afresh after providing reasonable opportunity of being heard to

the assessee. On the other hand, the learned DR relied on the order

of the AO.

4. On consideration of the above facts, we find that the addition on

quantum on which the penalty was imposed remained the subject

matter in appeal before the Tribunal and the Tribunal following the

order for the preceding assessment year set aside the orders on

quantum to the file of the learned CIT(A) for deciding the issues

afresh on merit. Since the quantum appeal is pending before the

learned CIT(A), therefore, it would be appropriate to restore the

penalty matter on the same facts to the file of the learned CIT(A) for

decision in accordance with law on merit, after the view taken on

quantum appeal by the learned CIT(A). We accordingly, set aside the

order of the learned CIT(A) and restore the appeal to his file with

direction to re-decide the penalty appeal after decision of the

quantum appeal by giving reasonable sufficient opportunity of being

heard to the assessee.

———————Page 3———————

ITA No.572/Ahd/2009 3
ITO, W 8(1), Ahmedabad Vs Top Media Entertainment Ltd.

5. In the result, the appeal of the revenue is allowed for statistical

purpose.

Order pronounced in the open Court on 4 -02-2011

Sd/- Sd/-

(D. C. AGRAWAL) (BHAVNESH SAINI)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Date : 4-02-2011
Lakshmikant/-
Copy of the order forwarded to:
1. The Appellant
2. The Respondent
3. The CIT concerned
4. The CIT(A) concerned
5. The DR, ITAT, Ahmedabad
6. Guard File

BY ORDER

Dy. Registrar, ITAT, Ahmedabad

NO COMMENTS

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