D S Contractor Pvt. Ltd., Panaji V. ACIT Circle-1 Panaji Goa., Panaji

CO 23/PAN/2014

• Counselvise Citation: [2016] 112 COUNSELVISE.COM (IT) 4330 (ITAT-PANAJI)
• Duration Of Justice: 2 year(s) 5 month(s) 19 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 23-09-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 23-09-2016
• Assessment Year: misc
• Appeal Filed On: 03-04-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAVIRAJ Y V
• Assessee Lawyers: D E ROBINSON
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI , HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER C.O.NO.23/PAN/2014 ( ITA NO. 77 /P N J /201 4 ) (ASST. YEAR : 20 09 - 1 0 ) M/S. D.S. CONTRACTORS PVT. LTD . , PLOT NO. 22/111, VILLA FA LL Y BAY VIEW , NEAR NIO CIRCLE, DONA PAULA GOA. VS. A CIT, CIRCLE - 1, PANAJI GOA. PAN NO. AAACD 6528 P (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI D.E. ROBINSON ADV. DEPARTMENT BY : SHRI RAVIRAJ Y.V. - DR DATE OF HEARING : 2 3 / 0 9 /201 6 . DATE OF PRONOUNCEMENT : 23 / 0 9 /201 6 . O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER THIS IS A CROSS OBJECTION FILED BY THE ASSESSEE IN THE REVENUE S APPEAL IN ITA NO. 77/PNJ/2014. 2. BOTH THE APPEAL AND THE CROSS OBJECTION HAVE BEEN DISPOSED OF BY AN ORDER DATED 26/09/2014 . THE CROSS OBJECTION HAD BEEN RECALLED BY AN ORDER DATED 29/07/2016 IN MA NO. 32/PAN/2015 ON THE GROUND THAT CROSS OBJECTION HAD NOT BEEN ADJUDICATED, BUT HAD BEEN DISPOSED OF ERRONEOUS LY BY HOLDING THAT THE CROSS OBJECTION WAS IN SUPPORT OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) . T H E CROSS OBJECTION I S H E A R D T O D A Y . 2 C . O . NO. 2 3 /P A N/201 4 3 . S H R I D. E . R O B I N S O N , A D V O C A T E REPRESENTED O N B E H A L F O F T H E ASSESSEE A N D S H R I RAVIRAJ Y.V. , S T A N D I N G C O U N S E L R E P R E S E N T E D O N B E H A L F O F T H E R E V E N U E . 4 . I T W A S S U B M I T T E D B Y T H E AUTHORIZED REPRESENTATIVE OF THE ASSESSEE T H A T T H E I S S U E W A S IN RESPECT OF A N AMOUNT O F 1 7 , 2 0 , 6 8 7 / - R E P R E S E N T I N G T H E R E T E N T I O N M O N E Y . IT WAS THE SUBMISSION THAT A N AMOUNT O F 4 4 , 9 6 , 2 7 5 / - H A D B E E N D I S A L L O W E D A N D A D D E D B Y T H E ASSESSING OFFICER B Y I N V O K I N G T H E P R O V I S I O N S O F S E C T I O N 4 1 ( 1 ) IN RESPECT OF V A R I O U S C R E D I T O R S , W H I C H W E R E O U T S T A N D I N G A S O N 3 1 / 0 3 / 2 0 0 9 . IT WAS THE SUBMISSION THAT COMMISSIONER OF INCOME TAX (APPEALS) H A D D E L E T E D T H E ADDITION T O T H E E X T E N T O F 2 7 , 7 5 , 5 8 8 / - , A G A I N S T W H I C H T H E R E V E N U E H A D F I L E D A N A P P E A L A N D T H E T R I B U N A L H A D U P H E L D T H E O R D E R O F T H E COMMISSIONER OF INCOME TAX (APPEALS) . T H E ASSESSEE S C R O S S O B J E C T I O N W A S IN RESPECT OF AMOUNT O F 17,20,687/ - , T H E ADDITION W H I C H H A D B E E N C O N F I R M E D B Y T H E COMMISSIONER OF INCOME TAX (APPEALS) . I T WAS THE SUBMISSION THAT T H I S AMOUNT O F R E T E N T I O N M O N E Y H A D A L S O B E E N S U B S E Q U E N T L Y P A I D O F F . IT WAS THE SUBMISSION THAT H E H A D N O O B J E C T I O N I F T H E I S S U E O F 17,20,687/ - W A S R E S T O R E D T O T H E F I L E O F T H E ASSESSING OFFICER F O R V E R I F I C A T I O N A S T O W H E T H E R T H E AMOUNT S H A V E B E E N P A I D B A C K . 5. I N R E P L Y , S T A N D I N G C O U N S E L O N B E H A L F O F T H E R E V E N U E D I D N O T R A I S E A N Y S E R I O U S O B J E C T I O N T O T H I S PROPOSITION. 6 . W E H A V E C O N S I D E R E D T H E R I V A L S U B M I S S I O N S . I N RESPECT OF T H E CROSS OBJECTION , A S T H E I S S U E I S I N RELATION T O T H E ADDITION O F 17,20,687/ - , W H I C H H A S B E E N C O N F I R M E D B Y T H E COMMISSIONER OF INCOME TAX (APPEALS) A N D W H I C H T H E ASSESSEE S S U B M I S S I O N I S R E T E N T I O N M O N E Y , T H I S I S S U E I S R E S T O R E D T O T H E F I L E O F T H E ASSESSING OFFICER F O R R E - A D J U D I C A T I O N . T H E ASSESSING OFFICER I S T O V E R I F Y A S T O W H E T H E R A N Y P O R T I O N O F T H E S A I D AMOUNT H A S B E E N R E P A I D B Y T H E ASSESSEE I N T H E 3 C . O . NO. 2 3 /P A N/201 4 S U B S E Q U E N T Y E A R S . I F T H E ASSESSEE I S A B L E T O P R O V E T H E R E P A Y M E N T O F T H E S A I D AMOUNT O F R E T E N T I O N M O N E Y I N S U B S E Q U E N T Y E A R S , T H E ADDITION I S T O B E D E L E T E D T O S U C H E X T E N T , I F T H E ASSESSEE I S U N A B L E T O P R O V E , T H E ADDITION S H A L L REMAIN . 7 . I N T H E R E S U L T , CROSS OBJECTION F I L E D B Y T H E ASSESSEE I S P A R T L Y A L L O W E D F O R S T A T I S T I C A L P U R P O S E . ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON F R I D A Y , THE 2 3 R D DAY OF SEPTEMBER , 201 6 AT GOA . S D / - S D / - (N.S.SAINI) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 2 3 R D SEPTEMBER , 201 6 . VR/ - COPY TO: 1 . THE ASSESSEE. M/S. D.S. CONTRACTORS PVT. LTD . , PLOT NO. 22/111, VILLA FA LL Y BAY VIEW , NEAR NIO CIRCLE, DONA PAULA GOA. 2 . THE REVENUE. A CIT, CIRCLE - 1, PANAJI GOA. 3 . THE CIT , P A N A J I G O A . 4 . THE CIT(A) , P A N A J I G O A . 5 . THE D.R . 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI