Sunrise Finlease Ltd., Ahmedabad V. The CIT.,A'bad-IV, Ahmedabad

ITA 1085/AHD/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 94645 (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: 26-10-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 17-05-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NARENDRA SINGH
• Assessee Lawyers: ANIL KHASTRIYA
• Section: 143(3); 153A; 263

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD - , , BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ./ I.T.A. NO.1085/AHD/2012 ( / ASSESSMENT YEAR : 2007-08) SUNRISE FINLEASE LTD. 206/207, SHANTI COMMERCIAL COMPLEX NAGAR SETH NO WANDO GHEEKANTA,AHMEDABAD-380001 / VS. THE CIT AHMEDABAD-IV AHMEDABAD $ ./ ./ PAN/GIR NO. : AABCS 5618 J ( $' / APPELLANT ) .. ( ()$' / RESPONDENT ) $' * / APPELLANT BY : SHRI ANIL KHASTRIYA, CA ()$' + * / RESPONDENT BY : SHRI NARENDRA SINGH SR.DR ,- + . / DATE OF HEARING 26/10/2015 /0 + . / DATE OF PRONOUNCEMENT 26/10/2015 / O R D E R PER SHRI KUL BHARAT, JUDICIAL MEMBER : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER OF THE LD.COMMISSIONER OF INCOME TAX-IV, AHMEDABAD [CIT IN SHORT] DATED 26/03/2012 PERTAINING TO ASSESSMENT YEAR (AY) 2007- 08. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL:- ITA NO.1085 /AH D/2012 SUNRISE FINLEASE LTD. VS. CIT-IV, AHMEDABAD ASST.YEAR 2007-08 - 2 - 1. THE LD. CIT HAS ERRED IN LAW AND ON FACTS IN PAS SING THE ORDER U/S. 263 OF THE ACT WHILE MAKING THE OBSERVATIONS THAT :- A] THE ARGUMENT OF THE ASSESSEE THAT THE STATE MENT 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 N O ADDITION WAS MADE IN THE HANDS OF THE ASSESSEE DURING THE CURRENT ASSESSMENT YEAR, HAS RENDERED THE ASSESSMENT ERRONEOUS AND PREJUDICIAL TO THE INTER EST OF REVENUE AND THE ASSESSMENT DESERVES TO BE SET-ASIDE. 2. THE LD. CIT HAS ERRED IN LAW AND ON FACTS IN FAI LING TO CONSIDER / APPRECIATE THE FACT THAT THE ASSESSMENT ORDER DATED 24-12-2009 FOR A.Y. 2007-08 PASSED U/S. 153A R.W.S.143(3) BY THE LD. A.O IS AFTER CALL ING FOR THE DETAILS AND EXPLANATION AND AFTER APPLYING HIS MIND AS WELL AS AFTER OBTAINING THE PRIOR APPROVAL OF ADDL. CIT, CENTRAL RANGE-2, AHMEDABAD, VIDE HIS LETTER NO. CR- 2/AHD/APPROVAL U/S. 153D/2009-10 DATED 24-12-2009 A ND HENCE THE ORDER PASSED BY THE LD. A.O IS NEITHER ERRONEOUS NOR PREJ UDICIAL TO THE INTEREST OF REVENUE. THE APPELLANT RESERVES ITS RIGHT TO ADD, AMEND, ALT ER OR MODIFY ANY OF THE GROUNDS STATED HEREINABOVE EITHER BEFORE OR AT THE TIME OF HEARING. PRAYER THE APPELLANT RESPECTFULLY PRAYS THAT :- 1. THE ORDER OF THE LD. CIT PASSED U/S. 263 OF THE ACT DATED 26-03-2012 FOR MAKING THE ASSESSMENT DE-NOVO MAY KINDLY BE QUASHED AS THE SAME BEING UNJUSTIFIED AND BAD IN LAW. 2. SUCH AND FURTHER RELIEF WHICH THE APPELLANT MAY BE ENTITLED AS THE NATURE AND CIRCUMSTANCES OF THE CASE MAY REQUIRE AND WHICH YOU R HONOUR DEEM FIT. ITA NO.1085 /AH D/2012 SUNRISE FINLEASE LTD. VS. CIT-IV, AHMEDABAD ASST.YEAR 2007-08 - 3 - 2. AT THE OUTSET, THE LD.COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS AS WERE MADE VIDE SUBMISSION DATED 15/1 0/2015. THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT HE WISH TO WITHDRAW THE APPEAL IN VIEW OF THE SUBMISSIONS MADE IN THE ASSESSEES S UBMISSION DATED 15/10/2015. THE SR.DR HAS NO OBJECTION. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE M ATERIAL AVAILABLE ON RECORD. THE APPELLANT-ASSESSEE HAS MADE THE FO LLOWING SUBMISSIONS VIDE DATED 15/10/2015:- DATE OF HEARING : 26/10/2015 IN RESPECT OF THE ABOVE MATTER COMING UP FOR HEARIN G BEFORE THE HON'BLE BENCH, THE APPELLANT MOST RESPECTFULLY BEGS TO SUBM IT THAT:- (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 T HE YEAR UNDER CONSIDERATION. THE HEARING IN THE MATTER HAS BEEN F IXED BEFORE THE HON'BLE TRIBUNAL ON 26/10/2015. (II) CONSEQUENT TO THE IMPUGNED ORDER U/S 263 O F THE ACT, THE ASSESSING OFFICER HAD PASSED AN ORDER U/S 143(3) R.W.S 263 ON 11/11/2012 TO GIVE EFFECT TO THE ORDER U/S 263 PASSED BY THE LD.CIT. BEING AG GRIEVED AND DISSATISFIED WITH THE A.O'S ORDER, THE APPELLANT PREFERRED AN AP PEAL BEFORE THE CIT (A)XIV, AHMEDABAD. AS A RESULT, THE LD.CIT(A)XIV, AHMEDABAD HAS FULLY ALLOWED THE APPEAL OF THE APPELLANT ON MERITS OF THE CASE AS WE LL AS ON LEGAL GROUND RAISED, VIDE APPELLATE ORDER DATED 03/06/2014, IN APPEAL NO . CIT(A)IV/WD.8(3)/198/12-13. A COPY OF THE ORDER DAT ED 25/07/2014, GIVING EFFECT TO THE LD.CIT(A)'S ORDER U/S 250 PASSED BY T HE ITO, WD.8(3), AHMEDABAD IS ENCLOSED FOR READY REFERENCE. DUE JUST ICE HAS BEEN GRANTED TO THE APPELLANT VIDE THE ORDER PASSED BY THE LD.CIT ( A)XIV, AHMEDABAD. ITA NO.1085 /AH D/2012 SUNRISE FINLEASE LTD. VS. CIT-IV, AHMEDABAD ASST.YEAR 2007-08 - 4 - (III) EVENTUALLY, THE GROUNDS RAISED IN THE CAPT IONED APPEAL FILED BY THE APPELLANT, NAMELY:- GROUND NO. 1 THE LD.CIT HAS ERRED IN LAW AN D ON FACTS IN PASSING THE ORDER U/S 263 OF THE ACT WHILE MAKING THE OBSERVATI ONS THAT:- A] THE ARGUMENT OF THE ASSESSEE THAT THE STATEMEN T WAS GIVEN BY SHRI BHANDARI UNDER PRESSURE CANNOT BE ACCEPTED AND SHRI BHANDARI HAS NOT RETRACTED HIS STATEMENT EITHER BEFORE THE ASSESSING OFFICER NOR B EFORE 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 RENDERED THE ASSESSMENT ERRONEOUS AND PREJUDICIAL TO THE INTERES T OF REVENUE AND THE ASSESSMENT DESERVES TO BE SET-ASIDE. GROUND NO.2 THE LD.CIT HAS ERRED IN LAW AND ON FACT S IN FAILING TO CONSIDER/APPRECIATE THE FACT THAT THE ASSESSMENT OR DER DATED 24/12/2009 FOR A,Y.2007-08 PASSED U/S 153A APPLYING HIS MIND AS WE LL AS AFTER OBTAINING THE PRIOR APPROVAL OF ADDL.CIT, CENTRAL RANGE-2, AHMEDA BAD, VIDE HIS LETTER NO.CR-2/AHD/APPROVAL U/S 153D/2009-10 DATED 24/12/2 009 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 T HIS HON'BLE BENCH OF TRIBUNAL. 2. IN VIEW OF THE ABOVE STATED FACTS AND CIRCUMSTAN CES 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 EVENTUALITY THE CAPTIONED APPEAL ITSELF AND OBLIGE. ITA NO.1085 /AH D/2012 SUNRISE FINLEASE LTD. VS. CIT-IV, AHMEDABAD ASST.YEAR 2007-08 - 5 - 4. IN VIEW OF THE ABOVE SUBMISSIONS, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE COURT ON MONDAY, THE 26 TH DAY OF OCTOBER, 2015 AT AHMEDABAD. SD/- SD/- ( ) ( ) ( MANISH BORAD ) ( KUL BHARAT ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 26/ 10 /2015 4..., ,.../ T.C. NAIR, SR. PS !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. $' / THE APPELLANT 2. ()$' / THE RESPONDENT. 3. 56 7 / CONCERNED CIT 4. 7 ( ) / THE CIT(A)-CONCERNED 5. 8,9 (56 , . 560 , / DR, ITAT, AHMEDABAD 6. 9;< =- / GUARD FILE. / BY ORDER, )8 ( //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. DATE OF DICTATION .. 26.X.15 (DICTATION-PAD 2- PAGES ATTACHED AT THE END OF THIS FILE) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER .. 26.X.15 3. OTHER MEMBER... 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.26.X.15 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 26/X/15 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER