M/s. Ambuja Intermediates Ltd., Ahmedabad V. The CIT,Ahmedabad-I, Ahmedabad

ITA 1055/AHD/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 76661 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 11 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-04-2014
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 01-04-2014
• Assessment Year: 2005-2006
• Appeal Filed On: 06-04-2010
• Court: TRIBUNAL
• Assessee Lawyers: N C AMIN
• Section: 143(3); 263

Judgement Text

, , , , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD , , , , . .. . . . . . , , , , !' ! # !' ! # !' ! # !' ! # BEFORE SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER AND SHRI N.S. SAINI, ACCOUNTANT MEMBER ./ ././ ./ ITA NO. 1055/AHD/2010 % &% % &% % &% % &% / // / ASSESSMENT YEAR 2005-06 AMBUJA INTERMEDIATES PVT. LTD. 901, NARNARAYAN COMPLEX SWASTIK CROSS ROAD, NAVRANGPURA, AHMEDABAD. PAN: AAACA1236B VS COMMISSIONER OF INCOME TAX, AHMEDABAD-I, AHMEDABAD. '(/ APPELLANT )*'( / RESPONDENT REVENUE BY : SH. SUBHASH BAINS, SR. DR ASSESSEE(S) BY : SH. N.C. AMIN, AR + , -'/ // / DATE OF HEARING : 01/04/2014 ./& , -' / DATE OF PRONOUNCEMENT : 04/04/2014 !0 !0 !0 !0/ // / O R D E R PER SHRI N.S. SAINI, ACCOUNTANT MEMBER: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT, AHMEDABAD-I DATED 10.03.2010. 2. THE ASSESSEE HAS TAKEN FOLLOWING GROUNDS OF APP EAL: 1. THAT THE LEARNED CIT-I, AHMEDABAD HAS ERRED BOTH IN LAW AND ON THE FACTS IN PASSING ORDER U/S 263 OF THE I.T. A CT 1961. 2. THAT THE ORDER PASSED BY THE LEARNED A.O IS NOT ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE AND THEREFOR E ORDER PASSED BY LEARNED CIT-I DESERVE TO BE CANCELLED. ITA NO. 1055/AHD/2010 AMBUJA INTERMEDIATES PVT.LTD. VS CIT-I, AHD. FOR A.Y. 2005-06 - 2 - 3. THAT THE ASSESSMENT ORDER PASSED BY THE LD. A.O. BY ISSUING VARIOUS NOTICES ON VARIOUS DATED AND APPELLANT HAS COMPLIED WITH THE SAME AND REQUIRED DETAILS HAVE BEEN FILED AND APPELLANT HAS PRODUCED ALL THE BOOKS OF ACCOUNTS AN D SAME HAS BEEN EXAMINED AND THEREFORE ORDER PASSED BY THE LEA RNED A.O IS NOT ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE AND AS SUCH ORDER PASSED BY THE CIT IS DESERVES TO BE C ANCELLED. 4. THAT THE DETAILS OF TDS IS AVAILABLE ON THE RECO RD OF THE LEARNED A.O. AS WELL AS ON THE RECORD OF THE DEPARTMENT AND FORM NO.27A WAS FILED WHEREIN THE DEDUCTEE PARTIES ARE 5 45 AND AMOUNT PAID TO VARIOUS PARTIES AMOUNTING TO RS.4,41 ,92,609.56 AND TDS MADE THERE FROM AMOUNTING TO RS. 12,36,1747 - AND DEPOSITED AMOUNT OF RS. 12,36,3467-ALONG WITH UPLOA D FEE OF RS. 1657- TO THE GOVERNMENT ACCOUNT AND THEREFORE O N THIS COUNT THE ORDER PASSED BY LEARNED A.O. IS NOT ERRON EOUS AND PREJUDICIAL TO THE REVENUE AND THEREFORE ORDER OF T HE LEARNED CIT DESERVES TO BE CANCELLED. 5. THAT THE APPELLANT HAS SUBMITTED THE DETAILS AS REQUIRED U/S 40A(2)(B) VIDE ITS LETTER DATED 10.3 07 AND AFTER V ERIFICATION OF AUDIT REPORT U/S 44AB AND BOOKS OF ACCOUNTS AND THE REAFTER THE ASSESSMENT ORDER HAS PASSED AND THEREFORE DIFFERENT VIEW TAKEN BY THE LD. CIT FOR EXERCISING POWER U/S 263 IS NOT TENABLE IN LAW. 6. THAT THE APPELLANT HAD SUBMITTED THE DETAILS REG ARDING ALLOTMENT OF SHARES TO THREE COMPANIES VIDE LETTER DATED 14.7 .07 AND AFTER VERIFICATION THE A.O. HAS PASSED THE ORDER AND THER EFORE THE LEARNED CIT HAS INVOKED THE PROVISIONS OF SEC. 263 IS AGAINST THE PROVISIONS OF THE ACT AND THEREFORE THE ORDER O F LD.CIT DESERVES TO BE CANCELLED. 7. THAT THE APPELLANT HAS FILED AUDIT REPORT U/S. 4 4AB ALONG WITH STATUTORY AUDIT REPORT UNDER THE COMPANIES ACT AND AFTER VERIFICATION OF THE SAME, THE LEARNED A.O. HAS PASS ED THE JUDICIOUS ORDER WHICH IS NOT ERRONEOUS AND PREJUDIC IAL TO THE REVENUE AS HELD BY CIT AND THEREFORE THE ORDER PASS ED BY CIT DESERVES TO BE CANCELLED. 8. THAT THE APPELLANT HAS FURNISHED THE DETAILS AS CALLED FOR BY VIDE LETTER DATED 16.2.10 RUNNING INTO PAGES 1 TO 133 WH EREIN ALL THE DETAILS ARE AVAILABLE AND THEREFORE ORDER PASSED BY LEARNED CIT DESERVES TO BE CANCELLED. 9. THAT THE FINDING GIVEN BY THE LEARNED CIT IN PAR A 5 IS NOT CORRECT ON THE GROUND THAT THE LEARNED A.O. HAD VERIFIED AL L THE BOOKS OF ACCOUNTS, AUDIT REPORT AND OTHER DETAILS AVAILABLE ON RECORD AND AS SUCH ON THIS COUNT THE ORDER PASSED BY CIT U/S. 263 DESERVES TO BE CANCELLED. ITA NO. 1055/AHD/2010 AMBUJA INTERMEDIATES PVT.LTD. VS CIT-I, AHD. FOR A.Y. 2005-06 - 3 - 10. THAT THE APPELLANT HAD SUBMITTED THE DETAILS VI DE ITS SUBMISSION DATED 16.2.10 AND THE LEARNED CIT THEREAFTER WITHOU T GIVING REASONABLE OPPORTUNITY PASSED ORDER U/S. 263 ON 10. 3.10 WHEREAS APPELLANT HAS ASKED FOR FURTHER TIME VIDE L ETTER DATED 11.2.10 FOR PERIOD OF 30 DAYS, HOWEVER, ONLY 4 DAYS TIME WAS GRANTED WHICH WAS ALSO CONSISTED OF TWO CLOSED DAYS AND THEREFORE WITHOUT GRANTING PROPER OPPORTUNITY ORDER PASSED BY CIT DESERVES TO BE CANCELLED. 11. THAT THE ORDER PASSED BY LEARNED CIT WITHOUT GR ANTING REASONABLE OPPORTUNITY AS CONTEMPLATED U/S 263(1) A ND THEREFORE SAME DESERVES TO BE CANCELLED, CONSIDERIN G THE PECULIAR FACTS AND CIRCUMSTANCES OF THE CASE OF THE APPELLANT. 3. AT THE OUTSET, THE LD. AR OF THE ASSESSEE SUBMI TTED THAT THE ORDER U/S 263 WAS PASSED BY THE CIT ON 10.03.2010. IN PURSUANCE OF THE SAID ORDER, THE ASSESSING OFFICER PASSED ORDER U/S 143(3) READ WITH SECTION 263 OF THE I.T. ACT, 1961 ON 27.12.2010, WHEREIN HE HAS MADE MINOR ADDITION OF RS 50,034/-. THE ASSESSEE HAS ACCEPTED THIS ORDER OF THE ASSESSING OFFICER AND HAS NOT FILED ANY APPEAL THER EAGAINST. 4. IN VIEW OF THESE FACTS, THE LD. AR OF THE ASSES SEE ADMITTED THAT THE ASSESSEE HAS NO SERIOUS GRIEVANCE AGAINST THE O RDER AND THE PRESENT APPEAL IS MERELY ACADEMIC IN NATURE. IN VIEW OF TH E ABOVE, WE DISMISS THE PRESENT APPEAL AS INFRUCTUOUS. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED IN THE COURT ON FRIDAY, THE 04 TH OF APRIL, 2014 AT AHMEDABAD. SD/- SD/- (MUKUL KR. SHRAWAT) JUDICIAL MEMBER ( N.S. SAINI) ACCOUNTANT MEMBER AHMEDABAD; DATED 04/04/2014 GHANSHYAM MAURYA, SR. P.S.