M/s Atul Oilcake Industries Ltd, Dhoraji V. The Assistant Commissioner Of Income Tax, Circle 3, RAJKOT-GUJARAT

ITA 1265/RJT/2010

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2398 (ITAT-RAJKOT)
• Duration Of Justice: 5 year(s) 1 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-01-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 08-10-2015
• Assessment Year: 2000-2001
• Appeal Filed On: 12-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VIMAL I MEHTA RESPONDE
• Assessee Lawyers: RD LALCHANDANI
• Section: 143(3)

Judgement Text

I.T.A. NO. 1266/RJT/2010 : A SSESSMENT YEAR: 200 0 - 01 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT . [CORAM: PRAMOD KUMAR , AM AND RAJPAL YADAV, JM ] I.T.A. NO S . 126 5 /RJT/ 2010 ASSESSMENT YEAR: 2000 - 01 M/S ATUL OILCAKE INDUSTRIES LTD., JETPUR ROAD, DHORAJI. . ......... ...... .... APPELLANT PAN AABCA8637K VS. ASSTT. CIT, CIRCLE - 3, RAJKOT. . . RESPONDENT APPEARANCES BY: R. D. LALCHANDANI ........... FOR THE APPELLANT VIMAL I. MEHTA .......... F OR THE RESPONDENT D ATE OF CONCLUDING THE HEARING : 8 TH OCTOBER, 2015 DATE OF PRONOUNC ING THE ORDER : 4 TH JANUARY, 2016. O R D E R PER PRAMOD KUMAR , AM : BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 15 TH SEPTEMBER, 2010 PASSED BY THE CIT(A), IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) R.W.S. 147 OF THE INCOME - TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2000 - 01 ON THE FOLLOWING GROUNDS : - 1. THE CIT(A) ERRED IN CONFIRMING REOPENING OF THE ASSESSMENT U/S 147 OF THE IT ACT. NO INCOME HAS ESCAPED ASSESSMENT WITHIN THE MEANING OF SEC.147 OF THE IT ACT. THE REOPENING OF THE ASSESSMENT IS NEITHER JUSTIFIED IN FACTS NOR JUSTIFIED IN LAW. 2. WITHOUT PREJUDICE TO GROUND NO.1 THE ORDER IS BAD IN LAW IN AS MUCH AS NO REASONS RECORDED WERE GIVEN TO THE APPELLANT IN SPITE OF A SPECIFIC REQUEST. I.T.A. NO. 1266/RJT/2010 : A SSESSMENT YEAR: 200 0 - 01 PAGE 2 OF 2 3. WITHOUT PREJU DICE TO GROUND NOS.1,2 & 3 THE CIT(A) ERRED IN CONFIRMING THAT THE SHORTAGE OF RS.1819500/ - WAS EXCESSIVE. THE SHORTAGE WAS PROPERLY EXPLAINED AND A DISALLOWANCE OF RS.761700/ - WAS MADE AT THE TIME OF ORIGINAL ASSESSMENT.(THIS DISALLOWANCE IS SUBJECTED TO IN A SEPARATE APPEAL NO.0093/03 - 04 BEFORE THE CIT(A) - III, RAJKOT AND HENCE THE FURTHER ADDITION OF RS.1057800/ - IS UNWARRANTED AND UNJUSTIFIED. 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, LEARNED REPRESENTATIVES AGREED THAT IN THE EVENT OF ASSESSEE S AP PEAL AGAINST THE ORIGINAL ASSESSMENT U/S 143(3) BEING ALLOWED IN PRINCIPLE AS THE QUESTION OF STOCK PROCESSING SHORTAGE, THIS APPEAL WILL ALSO HAVE TO BE ALLOWED AS THE ONLY ISSUE IN THIS APPEAL IS QUANTUM OF SUCH A DISALLOWANCE. 3. VIDE OUR ORDER OF EVEN DATE, WE HAVE DELETED THE ADDITION IN RESPECT OF STOCK PROCESSING SHORTAGE, IN PRINCIPLE, AND THE QUANTIFICATION OF SUCH A LOSS IS THUS IRRELEVANT. 4. IN VIEW OF THE ABOVE POSITION, AND THE IMPUGNED ORDER HAVING ONLY CONFIRMED THE ADDITION OF RS.10,57,80 0/ - WHICH STANDS DELETED, THIS APPEAL IS TO BE DISMISSED AS IN - FRUCTUOUS. WE DO SO. 5. IN THE RESULT, THE APPEAL IS DISMISSED AS IN - FRUCTUOUS. PRONOUNCED TODAY ON 4 TH DAY OF JANUARY, 2016. SD/ - SD/ - ( RAJPAL YADAV ) PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) DATED: 4 TH DAY OF JANUARY, 2016 COPIE S TO: (1) THE APPELLANT (2) THE RESPONDENT ( 3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL RAJKOT