Shantisuri Securitie Pvt.Ltd., Ahmedabad V. The CIT.,A'bad-IV, Ahmedabad

ITA 1083/AHD/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 94648 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 5 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-10-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 23-10-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 17-05-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DIPAK SULARIA
• Section: 143(3); 153A; 6; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: SHR I RAJPAL YADAV , JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER SHANTISURI SECURITIES PVT. LTD., 8, SHATRUNJAY FLATS, 30, SHANTINAGAR SOCIETY, USMAN PURA, AHMEDABAD - 380013 PAN: AACCS 6864 P (APPELLANT) VS THE COMMISSIONER OF INCOME TAX, AHMEDABAD - IV, ROOM NO. C. 311, 3 RD FLOOR, PRATYA KSH KAR BHAVAN, AMBAWADI, AHMEDABAD (RESPONDENT) REVENUE BY : S H RI DIPAK SULARIA , SR. D . R. ASSESSEE BY: S H RI ANIL KSHATRIYA , A.R. DATE OF HEARING : 23 - 10 - 2 015 DATE OF PRONOUNCEMENT : 26 - 10 - 2 015 / ORDER P ER : MANISH BORAD, ACCOUNTANT MEMBER : - THESE TWO APPEALS HAVE BEEN FILED BY THE ASSESSEE AGAINST THE ORDER S OF CIT - AHMEDABAD - IV , BOTH DATED 26 - 03 - 2012 , PASSED U/S. 263 OF THE INCOME TAX AC T (HEREINAFTER REFERRED TO AS THE ACT ) FOR THE AS SESSMENT YEARS 2005 - 06 AND 2006 - 07 . I T A NO S . 1083 & 1084 / A HD/20 12 A SSESSM ENT YEAR 200 5 - 06 & 2006 - 07 I.T.A NO S . 108 3 & 1084 /AHD/20 12 A.Y. 2005 - 06 & 2006 - 07 PAGE NO SHANTISURI SECURITIES PVT. LTD VS. CIT 2 2. AT THE OUTSET, LD. AUTHORIZED REPRESENTATIVE OF THE ASSESSEE REQUESTED TO WITHDRAWN BOTH THE APPEALS BY SUBMITTING AS UNDER: - (I) THE APPELLANT HAS PREFERRED THE CAPTIONED APPEAL AGAINST THE ORDER U/S 263 OF THE IT ACT, 1961 DATED 26/03/2012, PASSED BY THE LD. CIT - IV, AHMEDABAD, RAISING IN ALL TWO GROUNDS INVOLVED IN THE YEAR UNDER CONSIDERATION. THE HEARING IN THE MATTER HAS BEEN FIXED BEFORE THE HON'BLE TRIBUNAL ON 23/10/2015. (II) CONSEQUENT TO THE I MPUGNED ORDER U/S 263 OF THE ACT, THE ASSESSING OFFICER HAD PASSED AN ORDER U/S 143(3) R.W.S 263 ON 13/12/2012 TO GIVE EFFECT TO THE ORDER U/S 263 PASSED BY THE LD. CIT. BEING AGGRIEVED AND DISSATISFIED WITH THE A.O'S ORDER, THE APPELLANT PREFERRED AN APPE AL BEFORE THE CIT(A)XIV, AHMEDABAD. AS A RESULT, THE LD. CIT (A)XLV, AHMEDABAD HAS FULLY ALLOWED THE APPEAL OF THE APPELLANT ON MERITS OF THE CASE AS WELL AS ON LEGAL GROUND RAISED, VIDE APPELLATE ORDER DATED 03/06/2014, IN APPEAL NO. CIT(A)IV/WD.8(3)/199/ 12 - 13. A COPY OF THE ORDER DATED 25/07/2014, GIVING EFFECT TO THE LD. CIT(A)'S ORDER U/S 250 PASSED BY THE ITO, WD.8(3), AHMEDABAD IS ENCLOSED FOR READY REFERENCE. DUE JUSTICE HAS BEEN GRANTED TO THE APPELLANT VIDE THE ORDER PASSED BY THE LD. CIT (A) - IV, A HMEDABAD. (III) EVENTUALLY, THE GROUNDS RAISED IN THE CAPTIONED APPEAL FILED BY THE APPELLANT, NAMELY: - GROUND NO. 1 THE LD. CIT HAS ERRED IN LAW AND ON FACTS IN PASSING THE ORDER U/S 263 OF THE ACT WHILE MAKING THE OBSERVATIONS THAT: - A] T HE ARGUMENT OF THE ASSESSEE THAT THE STATEMENT WAS GIVEN BY SHRI BHANDARI UNDER PRESSURE CANNOT BE ACCEPTED AND SHRI BHANDARI HAS NOT RETRACTED HIS STATEMENT EITHER BEFORE THE ASSESSING OFFICER NOR BEFORE THE UNDERSIGNED DURING THE PRESENT PROCEEDINGS. B] THE FINDING OF THE ASSESSING OFFICER THAT NO ADDITION WAS MADE IN THE HANDS OF THE ASSESSEE DURING THE CURRENT ASSESSMENT YEAR, HAS I.T.A NO S . 108 3 & 1084 /AHD/20 12 A.Y. 2005 - 06 & 2006 - 07 PAGE NO SHANTISURI SECURITIES PVT. LTD VS. CIT 3 RENDERED THE ASSESSMENT ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE AND THE ASSESSMENT DESERVES TO BE SET - ASIDE . GROUND NO.2 THE LD. CIT HAS ERRED IN LAW AND ON FACTS IN FAILING TO CONSIDER/APPRECIATE THE FACT THAT THE ASSESSMENT ORDER DATED 24/12/2009 FOR A.Y.2005 - 0 6 PASSED U/S 153A APPLYING HIS MIND AS WELL AS AFTER OBTAINING THE PRIOR APPROVAL OF ADDL. CIT, CE NTRAL RANGE - 2, AHMEDABAD, VIDE HIS LETTER NO.CR - 2/AHD/APPROVAL U/S 153D/2009 - 10 DATED 24/12/2009 AND HENCE THE ORDER PASSED BY THE LD. A.O IS NEITHER ERRONEOUS NOR PREJUDICIAL TO THE INTEREST OF REVENUE, NO LONGER SURVIVES TO BE CONTESTED FURTHER BEFORE TH IS HON'BLE BENCH OF TRIBUNAL. 2. IN VIEW OF THE ABOVE STATED FACTS AND CIRCUMSTANCES OF THE CASE, THE HON'BLE BENCH MAY BE PLEASED TO ACCORD NECESSARY PERMISSION TO WITHDRAW THE AFORESAID GROUNDS OF APPEAL BEING GROUND NO. 1 AND 2, AS ABOVE AND IN THE EV ENTUALITY THE CAPTIONED APPEAL ITSELF AND OBLIGE. 3. WE HAVE GONE THROUGH THE SUBMISSIONS MADE BY THE ASSESSEE FOR THE WITHDRAWAL OF BOTH THE APPEALS AND AS SUBMITTED BY ASSESSEE THAT THESE TWO APPEALS ARE AGAINST THE ORDER U/S. 263 OF THE INCOME TAX ACT , 1961. LD. A.R. FURTHER SUBMITTED THAT CONSEQUENT TO THE IMPUGNED ORDER U/S. 263 OF THE ACT, THE A.O. HAD PASSED AN ORDER U/S. 143(3) R.W.S. 263 OF THE ACT AND BEING AGGRIEVED AND DISSATISFIED WITH THE ASSESSING OFFICER S ORDER PREFERRED AN APPEAL BEFORE THE CIT(A) WHO FULLY ALLOW ED THE APPEALS OF THE ASSESSEE ON MERITS OF THE CASE AS WELL AS ON LEGAL GROUNDS RAISED. THEREFORE, THE ASSESSEE HAD SEEKED THE PERMISSION TO WITHDRAW BOTH THE APPEALS AND ACCORDINGLY WE GRANT PERMISSION TO THE ASSESSEE TO WITHDR AW BOTH THE APPEALS ITA NOS. 1083/AHD/2012 AND 1084/AHD/2012. I.T.A NO S . 108 3 & 1084 /AHD/20 12 A.Y. 2005 - 06 & 2006 - 07 PAGE NO SHANTISURI SECURITIES PVT. LTD VS. CIT 4 4. IN THE RESULT, BOTH THE APPEALS STAND DISMISSED. ORDER PR ONOUNCED IN THE OPEN C OURT ON 26 - 10 - 2015 SD/ - SD/ - ( RAJPAL YADAV ) ( MANISH BORAD ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 26 /10 /2015 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,