M/s Shiva Solvex & General Mills, Fatehgarh Sahib V. ITO, Mandi Gobindgarh

ITA 1029/CHANDI/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 57628 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 6 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 23-06-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 23-07-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: K P BAJAJ

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL: A BENCH: CH ANDIGARH BEFORE SHRI D K SRIVASTAVA, AM AND MS. SUSHMA CHOW LA, JM ITA NO. 1029/CHD/2010 ASSESSMENT YEAR 2007-08 M/S SHIVA SOLVEX AND GENERAL V. I.T.O. WARD 1, MAN DI GOBINDGARH MILLS, BEMMO ROAD AMLOH, FATEHGARH SAHIB AAVFS 2027 C APPELLANT BY : SHRI K.P. BAJAJ RESPONDENT BY: SHRI AKHILESH GUPTA DATE OF HEARING: 12.01.2012 DATE OF PRONOUNCEMENT: 30.01.2012 ORDER D K SRIVASTAVA: THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE LD. CIT(A) ON 24.6.2010, ON THE FOLLOWING GROUNDS:- 1 THAT THE LD. CIT(A) IS JOT JUSTIFIED IN HOLDING THAT THE NOTICE ISSUED U/S 143(2) AFTER THE STATUTORY DATE IS VALID . 2. THAT THE LD. CIT(A) WAS NOT JUSTIFIED IN UPHOLDI NG THE DISALLOWANCE OF RS. 5,50,000/- ON ACCOUNT OF ADVAN CE RECEIVED FROM M/S SUNSHINE FEED CORPORATION. 3. THAT WITHOUT FURTHER PREJUDICE THE LD. CIT(A) WA S NOT JUSTIFIED IN UPHOLDING THE ADDITION OF RS. 3,44,250 /- ON ACCOUNT OF VARIOUS AMOUNTS UNILATERALLY CREDITED BY VARIOUS PA RTIES TO THE ACCOUNTS OF THE ASSESSEE. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE DID NOT PRESS GROUND NOS. 2 AND 3. THEY ARE THEREFORE DISMI SSED AS NOT PRESSED. 3. APROPOS GROUND NO. 1, THE LD. COUNSEL FOR THE AS SESSEE INVITED OUR ATTENTION TO THE OBSERVATIONS MADE BY THE LD. CIT(A ) IN PARA 2 OF HIS APPELLATE ORDER IN WHICH IT IS CLEARLY STATED THAT THE NOTICE ISSUED BY THE AO WAS SERVED AFTER THE EXPIRY OF TIME LIMIT PRESCR IBED U/S 143(2). HE URGED THAT THE ASSESSMENT ORDER PASSED BY THE AO SH OULD THEREFORE BE QUASHED. 4. IN REPLY, THE LD. DR SUPPORTED THE ORDER PASSED BY THE LD. CIT(A). 5. WE HAVE HEARD BOTH THE PARTIES AND CAREFULLY CON SIDERED THEIR SUBMISSIONS. THERE IS NOTHING ON RECORD TO SHOW THA T THE NOTICE ISSUED ITA NO. 1029/CHD/2010 SHIVA SOLVEX AND GENERAL MILLS 2 BY THE AO U/S 143(2) WAS SERVED BEFORE THE EXPIRY O F PRESCRIBED TIME LIMIT. IN FACT, THE LD. CIT(A) HAS HIMSELF RECORDE D A FINDING TO THAT EFFECT. IN THIS VIEW OF THE MATTER, THE ASSESSMENT FRAMED BY THE AO IS QUASHED. APPEAL FILED BY THE ASSESSEE IS PARTLY AL LOWED. ORDER PRONOUNCED ON 30.01.2012 SD/- SD/- (SUSHMA CHOWLA) (D K SRIVA STAVA) JUDICIAL MEMBER ACCO UNANT MEMBER CHANDIGARH, 30.01.2012 SURESH COPY TO: 1. THE APPELLANT, SHIVA SOLVEX AND GENERAL MILLS 2. THE RESPONDENT, ITO 3. THE CIT, PATIALA 4. THE CIT(A), PATIALA 5. THE D.R, INCOME-TAX DEPARTMENT, CHANDIGARH ASSISTANT REGISTRAR, ITAT, CHANDIGARH