P.Panjurajan, Sivakasi V. DCIT, Madurai

CO 74/CHNY/2014

• Counselvise Citation: [2016] 119 COUNSELVISE.COM (IT) 3179 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 8 month(s) 11 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 01-04-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 18-02-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 21-07-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: V RAJASEKARAN
• Assessee Lawyers: V M PRASAD
• Keywords: Revised return
• Section: 133A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . . . , . !' , $ % BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ ITA NOS. 1746, 1747, 1748, 1749 & 1750/MDS/2014 & C.O. NOS.74, 75, 76, 77 & 78/MDS/2014 (IN I.T.A. NOS. 1746, 1747, 1748, 1749 & 1750/MDS/2 014) ' (' / ASSESSMENT YEARS : 2004-05 TO 2008-09 THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE III, MADURAI. V. SHRI P. PANJURAJAN, NO.74, VELAYUTHAM ROAD, SIVAKASI 626 123. PAN : AHIPP 5789 J (*+/ APPELLANT) ( RESPONDENT & CROSS-OBJECTOR) ./ ITA NOS.2017, 2018, 2019 & 2020/MDS/2013 & C.O. NOS.188, 189, 190 & 191/MDS/2013 ' (' / ASSESSMENT YEARS : 2005-06 TO 2008-09 THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE III, MADURAI. V. M/S SONY FIREWORKS PVT. LTD., NO.74, VELAYUTHAM ROAD, SIVAKASI 626 123. PAN : AADCS 3010 J (*+/ APPELLANT) ( RESPONDENT & CROSS-OBJECTOR) *+ , - / APPELLANT BY : SHRI M.S.V.M. PRASAD, CIT ./*+ , - / RESPONDENTS BY : SHRI V. RAJASEKARAN, CA 0 , 1$ / DATE OF HEARING : 18.02.2016 2!( , 1$ / DATE OF PRONOUNCEMENT : 01.04.2016 2 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: ALL THE APPEALS OF THE REVENUE IN RESPECT OF TWO INDEPENDENT ASSESSEES ARE ARISING OUT OF THE SEARCH CONDUCTED BY THE REVENUE. THE RESPECTIVE ASSESSEES HAVE ALSO FI LED CROSS- OBJECTIONS AGAINST THE ORDERS OF THE CIT(APPEALS). THEREFORE, WE HEARD ALL THE APPEALS AND THE CROSS-OBJECTIONS TOGE THER AND DISPOSING OF THE SAME BY THIS COMMON ORDER. 2. THE BRIEF FACTS OF THE CASE ARE THAT THERE WAS A SEARCH IN THE PREMISES OF SONY FIREWORKS PRIVATE LIMITED ON 21.10 .2008 AND IN THE RESIDENTIAL PREMISES OF SHRI P. PANJURAJAN. A SIMULTANEOUS SURVEY WAS ALSO CONDUCTED UNDER SECTION 133A OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT') IN THE FACTORY PREMI SES OF THE ASSESSEE- COMPANY ON THE SAME DAY. INCRIMINATING MATERIALS W ERE FOUND AND SEIZED BY REVENUE AUTHORITIES. M/S AJANTHA TRADING CORPORATION IS ONE OF THE SISTER CONCERNS OF M/S SONY FIREWORKS PR IVATE LIMITED. M/S AJANTHA TRADING CORPORATION HAS NOT FILED ANY R ETURN OF INCOME TILL THE DATE OF SEARCH. SHRI P. PANJURAJAN AND SH RI SUNDARAPPA NADAR WERE PARTNERS IN THE PARTNERSHIP FIRM M/S AJA NTHA TRADING CORPORATION. THE PARTNERSHIP FIRM M/S AJANTHA TRAD ING CORPORATION 3 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 INVOLVED ITSELF IN SECOND SALES OF FIREWORKS. DURI NG THE ASSESSMENT PROCEEDING, THE ASSESSEE CLAIMED BEFORE THE ASSESSI NG OFFICER THAT THE INCOME OF THE FIRM M/S AJANTHA TRADING CORPORAT ION SHALL BE ASSESSED IN THE HANDS OF ITS PARTNER SHRI P. PANJUR AJAN. THIS REQUEST OF THE ASSESSEE WAS REJECTED BY THE ASSESSI NG OFFICER. SINCE M/S SONY FIREWORKS PRIVATE LIMITED AND M/S AJ ANTHA TRADING CORPORATION ARE ENGAGED THEMSELVES IN THE BUSINESS OF TRADING IN FIREWORKS, THE INCOME OF M/S AJANTHA TRADING CORPOR ATION NEEDS TO BE SUBSTANTIVELY ASSESSED IN THE HANDS OF ONE OF TH E PARTNERS SHRI P. PANJURAJAN. SHRI P. PANJURAJAN HAS ALSO FILED A REVISED RETURN BEFORE THE ASSESSING OFFICER. HOWEVER, THE REQUEST OF THE ASSESSEE WAS REJECTED BY THE ASSESSING OFFICER AND THE INCOM E OF M/S AJANTHA TRADING CORPORATION WAS SUBSTANTIVELY ASSES SED IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. HOWEV ER, THE VERY SAME INCOME WAS PROTECTIVELY ASSESSED IN THE HANDS OF SHRI P. PANJURAJAN ALSO IN HIS INDIVIDUAL CAPACITY. 4. FIRST, LETS TAKE REVENUES APPEAL IN I.T.A. NO.2017/MDS/2013 FOR ASSESSMENT YEAR 2005-06. 4 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 5. SHRI M.S.V.M. PRASAD, THE LD. DEPARTMENTAL REPRE SENTATIVE, SUBMITTED THAT THE FIRST GROUND OF APPEAL IS WITH R EGARD TO ADDITION OF ` 11,19,465/-. HE FURTHER SUBMITTED THAT DURING THE YEAR UNDER CONSIDERATION, THE CIT(APPEALS) FOUND THAT THE ADVA NCE RECEIVED FROM CUSTOMERS WAS ONLY TO THE EXTENT OF ` 11,19,465/-. THE CIT(APPEALS) BY PLACING RELIANCE ON THE DETAILS FIL ED BY THE ASSESSEE, CAME TO A CONCLUSION THAT THE FRESH ADVAN CE WAS ONLY ` 11,19,465/- AND AFTER ALLOWING SET OFF OF ` 25,65,922/- FROM THE TOTAL ADDITION OF ` 44,76,271/-, CONFIRMED THE DISALLOWANCE OF ` 18,06,969/-. ACCORDING TO THE LD. D.R., THE CIT(AP PEALS) COMMITTED AN ERROR IN OBSERVING THAT THE NEW CREDITS TO THE E XTENT OF ` 25,65,922/- WAS ALREADY ALLOWED FOR THE ASSESSMENT YEAR 2003-04. THEREFORE, THE CIT(APPEALS) IS NOT JUSTIFIED IN DEL ETING THE ADDITION OF ` 11,19,465/- AND ALSO ` 25,65,922/-. 6. ON THE CONTRARY, SHRI V. RAJASEKARAN, THE LD. DE PARTMENTAL REPRESENTATIVE, SUBMITTED THAT OUT OF TOTAL ADDITIO N OF ` 45,89,651/-, THE CIT(APPEALS) FOUND THAT SINCE ` 1,13,380/- REFLECTED IN THE PROFIT & LOSS ACCOUNT OF M/S AJANTHA TRADING CORPORATION A ND BALANCE OF ` 25,65,922/- WAS OFFERED DURING THE ASSESSMENT YEAR 2003-04. 5 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 AFTER CONSIDERING THE ADVANCE OF ` 1,13,380/- OFFERED FOR THE ASSESSMENT YEAR 2004-05, THE CIT(APPEALS) CAME TO A CONCLUSION WHAT IS REMAINING TO BE TAXED IS ONLY ` 18,06,969/-. ACCORDING TO THE LD. REPRESENTATIVE, THE ENTIRE ADVANCE WAS ALREADY OFFERED AS INCOME. THEREFORE, NO ADDITION IS CALLED FOR. 7. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AFTER CONSIDERING THE ADVANCE OF ` 25,65,922/- FOR THE ASSESSMENT YEAR 2003-04 AND ADVANCE OF ` 1,13,380/- FOR THE ASSESSMENT YEAR 2004-05, THE BALANCE REMAINING TO BE TAXED IS ONLY ` 18,06,969/-. IN THE ABSENCE OF ANY MATERIAL AVAILABLE ON RECORD, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE ADVANCE OF ` 18,06,969/- CANNOT BE ALLOWED WHILE COMPUTING THE TOTAL INCOME. THEREFOR E, THE SAME IS RIGHTLY ADDED TO THE INCOME OF THE ASSESSEE. 8. NOW COMING TO I.T.A. NO.2018/MDS/2013 FOR ASSESS MENT YEAR 2006-07, THE LD. D.R. SUBMITTED THAT M/S AJANT HA TRADING CORPORATION IS ONE OF THE SISTER CONCERNS OF M/S SO NY FIREWORKS PRIVATE LIMITED. THE COPIES OF THE PARTNERSHIP DEE D WAS NOT FILED BEFORE THE LOWER AUTHORITIES. THEREFORE, THE ASSES SING OFFICER 6 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 PROPOSED TO ASSESS THE INCOME IN THE HANDS OF M/S S ONY FIREWORKS PRIVATE LIMITED. THE ASSESSEE-COMPANY M/S SONY FIR EWORKS PRIVATE LIMITED IS TRADING IN FIREWORKS. SIMILARLY , M/S AJANTHA TRADING CORPORATION IS ALSO TRADING IN FIREWORKS. THEREFORE, THE ADVANCE SAID TO BE RECEIVED AND INCOME ACCRUED TO M /S AJANTHA TRADING CORPORATION NEED TO BE ASSESSED IN THE HAND S OF THE ASSESSEE-FIRM. ACCORDINGLY, A SUM OF ` 2,07,80,111/- WAS ASSESSED SUBSTANTIVELY IN THE HANDS OF M/S SONY FIREWORKS PR IVATE LIMITED. HOWEVER, PROTECTIVE ASSESSMENT WAS MADE IN THE CASE OF SHRI P. PANJURAJAN FOR THE VERY SAME AMOUNT. THE LD. D.R. SUBMITTED THAT THE CIT(APPEALS) OUGHT NOT TO HAVE TAKEN THE BANK T RANSFER OF OD AMOUNT WHILE GIVING RELIEF TO THE ASSESSEE. 9. ON THE CONTRARY, SHRI V. RAJASEKARAN, THE LD. RE PRESENTATIVE FOR THE ASSESSEE, SUBMITTED THAT THE INCOME OF M/S AJANTHA TRADING CORPORATION CANNOT BE ASSESSED IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED AT ALL. SHRI P. PANJURAJ AN HAS FILED A REVISED RETURN CLAIMING THAT INCOME OF M/S AJANTHA TRADING CORPORATION HAS TO BE ASSESSED ONLY IN HIS HANDS. THEREFORE, 7 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 ACCORDING TO THE LD. REPRESENTATIVE, THE CIT(APPEAL S) OUGHT TO HAVE DELETED THE ADDITION MADE BY THE ASSESSING OFFICER. 10. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EIT HER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. M/S AJANTHA TRADING CORPORATION, A PARTNERSHIP FIRM, WAS SAID T O BE CONSTITUTED BY TWO PERSONS INCLUDING SHRI P. PANJURAJAN. HOWEV ER, THE PARTNERSHIP DEED WAS NOT FILED BEFORE THE AUTHORITI ES BELOW. THEREFORE, THE AUTHORITIES BELOW HAD NO OCCASION TO EXAMINE THE SAME. THE FACT REMAINS THAT THE ADVANCE RECEIVED B Y M/S AJANTHA TRADING CORPORATION WAS SOLELY FOR FIREWORKS BY M/S SONY FIREWORKS PRIVATE LIMITED. THEREFORE, THIS TRIBUNAL IS OF TH E CONSIDERED OPINION THAT THE ASSESSING OFFICER HAS RIGHTLY REJE CTED THE CONTENTION OF THE ASSESSEE THAT THE INCOME OF M/S AJANTHA TRAD ING CORPORATION IS TO BE ASSESSED ONLY IN THE HANDS OF SHRI P. PANJ URAJAN AND NOT IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. T HIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT M/S AJANTHA TRADING COR PORATION NEEDS TO BE ASSESSED IN THE HANDS OF M/S SONY FIREWORKS P RIVATE LIMITED AND NOT IN THE HANDS OF SHRI P. PANJURAJAN. NOW TH E ONLY CONTENTION OF THE REVENUE BEFORE THIS TRIBUNAL IS THAT THE BAN K OD LIMIT WAS 8 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 CONSIDERED IN DELETING THE ADDITION OF ` 1,66,66,283/-, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT IT IS FOUND ON RECOR D THAT THERE WAS TRANSFER FROM SISTER CONCERN OD LIMIT OF ` 1,25,00,000/-. THIS OD LIMIT CANNOT BE IGNORED BY THE AUTHORITIES BELOW. THEREFORE, WE DO NOT FIND ANY JUSTIFICATION IN THE CONTENTION OF THE LD. D.R. ACCORDINGLY, THE ORDER OF THE LOWER AUTHORITY IS CO NFIRMED. 11. NOW COMING TO ASSESSMENT YEARS 2007-08 AND 2008 -09, THE ONLY CONTENTION OF THE REVENUE IS THAT THE ADVANCE RECEIVED FROM CUSTOMERS REPRESENT INCREASE IN THE CREDIT BALANCE IN THE NAME OF M/S AJANTHA TRADING CORPORATION IN THE BOOKS OF THE SISTER CONCERN. ACCORDING TO THE LD. D.R., EVEN IF THE NAME OF THE CUSTOMERS ARE SAME AS BEFORE THE EARLIER ASSESSMENT YEAR, THE CRE DITS INTRODUCED DURING THE YEAR UNDER CONSIDERATION WERE FRESH CRED ITS, THEREFORE, THESE ARE ALL DIFFERENT CREDITS THAN THE EARLIER ON E. THE CIT(APPEALS), HOWEVER, DELETED THE ADDITION ON THE GROUND THAT THESE REPRESENT THE CREDITS FOUND IN THE EARLIER AS SESSMENT YEAR. 12. ON THE CONTRARY, SHRI V. RAJASEKARAN, THE LD. R EPRESENTATIVE FOR THE ASSESSEE, SUBMITTED THAT THE INCOME OF M/S AJANTHA TRADING CORPORATION HAS TO BE ASSESSED ONLY IN THE HANDS OF SHRI P. 9 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 PANJURAJAN AND NOT IN THE HANDS OF M/S SONY FIREWOR KS PRIVATE LIMITED. THEREFORE, THE AUTHORITIES BELOW ARE NOT JUSTIFIED IN CONSIDERING THE ADVANCE RECEIVED BY THE ASSESSEE FR OM SALE OF FIREWORKS BY M/S AJANTHA TRADING CORPORATION, IN TH E HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. HOWEVER, THE CIT(A PPEALS) AFTER CONSIDERING THE TRANSFER OF OD LIMITS AND ADVANCE R ECEIVED IN THE EARLIER ASSESSMENT YEARS, DELETED THE ADDITION. AC CORDING TO THE LD. REPRESENTATIVE, THE ENTIRE INCOME HAS TO BE ASSESSE D ONLY IN THE HANDS OF SHRI P. PANJURAJAN AND NOT IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. 13. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EIT HER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. THE CIT(APPEALS) AFTER CONSIDERING THE PROFIT & LOSS AC COUNT AND THE ENTIRE CREDIT STATEMENTS FILED BY THE ASSESSEE, FOU ND THAT THERE WAS NEGATIVE FIGURE. THEREFORE, THERE IS NO ACCRETION TO THE CREDITS OF M/S AJANTHA TRADING CORPORATION IN THE BOOKS OF SIS TER CONCERN. THE CIT(APPEALS) FOUND THAT THE ONUS IS ON THE ASSE SSEE TO EXPLAIN THE CREDITS IN THE BANK ACCOUNT. ACCORDINGLY, THE SUM OF ` 5,05,201/- WAS FOUND CREDITED IN THE BOOKS IS ADDED AS UNACCOU NTED INCOME OF 10 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 M/S AJANTHA TRADING CORPORATION FOR ASSESSMENT YEAR 2007-08. AFTER CONSIDERING, OTHER CREDITS FOUND IN THE OTHER ASSESSMENT YEARS, THE CIT(APPEALS) FOUND THAT THE ADVANCE RECE IVED BY THE M/S AJANTHA TRADING CORPORATION IS FOR SALE OF FIREWORK S. M/S AJANTHA TRADING CORPORATION BEING A SISTER CONCERN OF THE A SSESSEE, IN THE ABSENCE OF MATERIAL DOCUMENT OF THE PARTNERSHIP OF THE M/S AJANTHA TRADING CORPORATION AND THE ASSESSEE, THE INCOME HA S TO BE ASSESSED IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED SUBSTANTIVELY. THEREFORE, THE CONTENTION OF THE AS SESSEE THAT IT HAS TO BE ASSESSED IN THE HANDS OF SHRI P. PANJURAJAN W AS RIGHTLY REJECTED. THIS TRIBUNAL IS OF THE CONSIDERED OPINI ON THAT THE INCOME OF M/S AJANTHA TRADING CORPORATION NEEDS TO BE ASSE SSED ONLY IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED SIN CE THE ADVANCE RECEIVED BY M/S AJANTHA TRADING CORPORATION WAS ON BEHALF OF M/S SONY FIREWORKS PRIVATE LIMITED FOR SUPPLY OF FIREWO RKS. THEREFORE, THIS TRIBUNAL DO NOT FIND ANY INFIRMITY IN THE ORDE R OF THE LOWER AUTHORITY AND ACCORDINGLY, THE SAME IS CONFIRMED. 14. NOW COMING TO CROSS-OBJECTIONS IN C.O. NOS.188 TO 191/MDS/2013, THE CONTENTION OF THE ASSESSEE IS THA T SHRI P. 11 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 PANJURAJAN FILED REVISED RETURN CLAIMING THE INCOME OF M/S AJANTHA TRADING CORPORATION AS HIS INCOME. THIS TRIBUNAL I S OF THE CONSIDERED OPINION THAT M/S AJANTHA TRADING CORPORA TION RECEIVED ADVANCE ON BEHALF OF M/S SONY FIREWORKS PRIVATE LIM ITED FOR SUPPLY OF FIREWORKS. IN THE ABSENCE OF ANY PARTNERSHIP DE ED, THE CONTENTION OF THE ASSESSEE THAT IT HAS TO BE ASSESSED IN THE H ANDS OF SHRI P. PANJURAJAN CANNOT BE SUSTAINED. AS DISCUSSED EARLI ER, INCOME OF M/S AJANTHA TRADING CORPORATION HAS TO BE ASSESSED EITHER IN THE HANDS OF M/S AJANTHA TRADING CORPORATION ITSELF OR IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED AND DEFINITELY N OT IN THE HANDS OF SHRI P. PANJURAJAN OR THE SO-CALLED OTHER PARTNE R. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT M/S AJANTHA TRADING CORPORATION IS ANOTHER LIMB OF M/S SONY FIREWORKS PRIVATE LIMITED. THEREFORE, THE INCOME ACCRUED TO M/S AJANTHA TRADING CORPORATION H AS TO BE ASSESSED ONLY IN THE HANDS OF M/S SONY FIREWORKS PR IVATE LIMITED AND NOT IN THE HANDS OF SHRI P. PANJURAJAN. THEREF ORE, THIS TRIBUNAL DO NOT FIND ANY MERIT IN THE CROSS-OBJECTIONS OF TH E ASSESSEE. 15. NOW COMING TO REVENUES APPEALS IN THE CASE OF SHRI P. PANJURAJAN, WE HAVE HEARD SHRI M.S.V.M. PRASAD, THE LD. 12 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 DEPARTMENTAL REPRESENTATIVE AND SHRI V. RAJASEKARAN , THE LD. REPRESENTATIVE FOR THE ASSESSEE. THE CIT(APPEALS) DELETED THE ADDITION ON THE GROUND THAT SUBSTANTIVE ADDITION MA DE IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED WAS CONFIRMED . ADMITTEDLY, SUBSTANTIVE ASSESSMENT WAS MADE IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED AND PROTECTIVE ASSESSMENT WAS MADE IN THE HANDS OF SHRI P. PANJURAJAN. NOW THE CLAIM OF THE ASSESSEE BEFORE THIS TRIBUNAL IS THAT SHRI P. PANJURAJAN FIL ED REVISED RETURN CLAIMING THE INCOME OF M/S AJANTHA TRADING CORPORAT ION AS HIS INCOME. THEREFORE, THE INCOME OF M/S AJANTHA TRADI NG CORPORATION HAS TO BE ASSESSED ONLY IN THE HANDS OF SHRI P. PAN JURAJAN. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT M/S AJAN THA TRADING CORPORATION BEING A LIMB OF M/S SONY FIREWORKS PRIV ATE LIMITED, THE INCOME OF M/S AJANTHA TRADING CORPORATION HAS T BE ASSESSED ONLY IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. IN THE ABSENCE OF PARTNERSHIP DEED BEFORE THE AUTHORITIES BELOW, T HIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE INCOME OF M/S AJANT HA TRADING CORPORATION HAS RIGHTLY BEEN ASSESSED IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED. SINCE SHRI P. PANJURAJA N CLAIMS THAT THE INCOME HAS TO BE ASSESSED ONLY IN HIS HANDS AND HE HAS ALSO FILED 13 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 REVISED RETURN BEFORE THE ASSESSING OFFICER, NOW TH IS TRIBUNAL CONFIRMS THE SUBSTANTIVE ADDITION MADE IN THE HANDS OF M/S SONY FIREWORKS PRIVATE LIMITED, THEREFORE, THE PROTECTIV E ASSESSMENT CANNOT STAND IN THE EYE OF LAW. 16. IN VIEW OF THE ABOVE, THIS TRIBUNAL DO NO FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND THE SAME IS CONFIRMED. 17. THE CROSS-OBJECTIONS FILED BY SHRI P. PANJURAJA N IN C.O. NOS.74 TO 78/MDS/2014 ARE IN SUPPORT OF THE ORDER O F THE CIT(APPEALS). THEREFORE, THE CROSS-OBJECTIONS BECO ME INFRUCTUOUS. 18. IN THE RESULT, ALL THE APPEALS OF THE REVENUE A RE ALLOWED AND THE CROSS-OBJECTIONS FILED BY THE ASSESSEES ARE DIS MISSED. ORDER PRONOUNCED ON 1 ST APRIL, 2016 AT CHENNAI. SD/- SD/- (. !' ) ( . . . ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) $ / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 4 /DATED, THE 1 ST APRIL, 2016. 14 I.T.A. NOS.1746 TO 1750/MDS/14 C.O. NOS.74 TO 78/MDS/14 I.T.A. NOS.2017 TO 2020/MDS/13 C.O. NOS.188 TO 191/MDS/13 KRI. , .156 76(1 /COPY TO: 1. *+ /APPELLANT 2. ./*+ /RESPONDENTS 3. 0 81 () /CIT(A)-I, MADURAI 4. 0 81 () /CIT(A)-I, MADURAI 5. 0 81 /CIT, CENTRAL-II, CHENNAI 6. 69 .1 /DR 7. :' ; /GF.