ACIT, Cochin V. Island Sea foods P.Ltd, Cochin

ITA 1184/COCH/2004

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58271 (ITAT-COCHIN)
• Duration Of Justice: 7 year(s) 2 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-02-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 15-02-2012
• Assessment Year: 1991-1992
• Appeal Filed On: 22-11-2004
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VIJAYAPRABHA
• Assessee Lawyers: R KRISHNA IYER
• Keywords: Period of limitation

Judgement Text

1 ITA NO.1184/COCH/2004 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI B.R. BASKARA N(AM) I.T.A NO. 1184/COCH/2004 (ASSESSMENT YEAR 1991-92) THE ASSIST.COMMISSIONER OF INCOME-TAX VS M/S ISLA ND SEAFOODS P LTD CENTRAL CIRCLE-I ISLAND CLUB HOUSE ERNAKULAM KOCHI-3 PAN : NOT AVAILABLE (APPELLANT) (RESPONDENT) APPELLANT BY : SMT. VIJAYAPRABHA RESPONDENT BY : SHRI R KRISHNA IYER DATE OF HEARING : 15-02-2012 DATE OF PRONOUNCEMENT : 17-02-2012 O R D E R PER N.R.S. GANESAN (JM) THIS APPEAL WAS ORIGINALLY DISPOSED OF BY THIS TRI BUNAL BY AN ORDER DATED 21-07-2006. HOWEVER, ON APPEAL BY THE REVENUE, THE H IGH COURT RESTORED THE APPEAL ON FILE FOR DISPOSAL ON MERIT. ACCORDINGLY THIS APPEAL IS TAKEN UP FOR HEARING ON 15-2-2012. 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS LIMIT ATION IN PASSING THE ORDER BY THE ASSESSING OFFICER. 3. SMT. VIJAYAPRABHA, THE LD.DR SUBMITTED THAT THE ASSESSING OFFICER, CONSEQUENT TO THE APPELLATE ORDER, PASSED THE IMPUG NED ORDER MODIFYING THE UNABSORBED LOSS TO BE CARRIED FORWARD. HOWEVER, TH E COMMISSIONER (APPEALS) 2 ITA NO.1184/COCH/2004 FOUND THAT THE ORDER WAS PASSED BEYOND THE PERIOD O F TIME LIMIT. REFERRING TO PROVISIONS OF SECTION 150(2) OF THE INCOME-TAX ACT, THE LD.DR SUBMITTED THAT THE PERIOD OF LIMITATION PROVIDED IN SECTION 150(1) OF THE ACT IS NOT APPLICABLE SINCE THE ORDER WAS PASSED CONSEQUENT TO THE APPELLATE OR DER. THEREFORE, THE COMMISSIONER OF INCOME-TAX(A) IS NOT CORRECT. 4. WE HAVE HEARD, SHRI R KRISHNA IYER, THE LD.REPRES ENTATIVE FOR THE ASSESSEE ALSO. THE LD.REPRESENTATIVE FOR THE ASSESSEE VERY F AIRLY SUBMITTED THAT HE ALSO FEELS THAT THE ORDER OF THE COMMISSIONER OF INCOME-T AX(A) IS NOT CORRECT. THE ORDER OF THE ASSESSING OFFICER IS PERFECTLY WITHIN THE PERIOD OF LIMITATION SINCE IT IS PASSED AS CONSEQUENCE TO THE APPELLATE ORDER. 5. WE HAVE CONSIDERED RIVAL SUBMISSIONS ON EITHER S IDE AND ALSO PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOT IN DISPUTE THAT THE ASSESSING OFFICER PASSED THE ORDER AS A CONSEQUENCE TO THE APPELLATE ORDER. THEREFORE, THE PERIOD OF LIMITATION MAY NOT BE APPLICABLE AS CONTENDED BY TH E LD.DR. THE LD.REPRESENTATIVE FOR THE ASSESSEE ALSO VERY FAIRLY SUBMITTED THAT THE ORDER OF THE COMMISSIONER OF INCOME-TAX(A) MAY NOT BE CORRECT. I N VIEW OF THE ABOVE, WE SET ASIDE THE ORDER OF THE LOWER AUTHORITY AND RESTORE THAT OF THE ASSESSING OFFICER. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 17 TH DAY OF FEBRUARY, 2012. SD/- SD/- (B.R. BASKARAN) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 17 TH FEBRUARY, 2012 PK/- 3 ITA NO.1184/COCH/2004 COPY TO: 1. THE ASSIST.COMMISSIONER OF INCOME-TAX, CENT.CIR.I, ERNAKULAM 2. M/S ISLAND SEAFOODS P LTD, ISLAND CLUB HOUSE, KOCHI-3 3. THE COMMISSIONER OF INCOME-TAX(A)-IV, KOCHI 4. THE C.I.T., KOCHI 5. THE DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH