M/S Madhur Vishwanath Warehouse, Bhopal V. THE ACIT 1(2), Bhopal

ITA 1304/IND/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 2331 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2006-2007
• Appeal Filed On: 11-11-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LALCHAND
• Assessee Lawyers: S S SOLANKI
• Section: 80IB

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA NO.1304/IND/2016 ASSESSMENT YEAR: 2006-07 M/S. MADHUR VISHWANATH WAREHOUSE, 192, PRABHU NAGR, BHOPAL / VS. AC IT - 1 ( 2 ) BHOPAL ( APPELLANT ) ( REVENUE ) P.A. NO. AALFM476H ITA NO.1305/IND/2016 ASSESSMENT YEAR: 2006-07 MADHUR MAHESH WAREHOUSE NH-69, HOSHANGABAD ROAD,RAISALPUR, HOSHANGABAD / VS. AC IT - 1( 2 ) BHOPAL (APPELLANT) (REVENUE ) P.A. NO. AAGFM7884A APPELLANT BY SHRI S.S. SO LANKI , CA RESPONDENT BY SHRI LAL CHAND, CIT - DR DATE OF HEARING: 31.01.2018 DATE OF PRONOUNCEMENT: 31.01.2018 / O R D E R PER BENCH: THESE TWO APPEALS BY TWO DIFFERENT ASSESSEES AGAINS T TWO DIFFERENT ORDERS OF COMMISSIONER OF INCOME TAX (APP EALS)-2, BHOPAL 2 DATED 01.07.2016 AND 13.07.2016 RESPECTIVELY. SINCE THE SIMILAR ISSUE IS INVOLVED IN THREE APPEALS. BOTH WERE TAKEN UP TOGETHER FOR THE SAKE OF CONVENIENCE AND ARE BEING DISPOSED OF B Y WAY OF CONSOLIDATED ORDER. FIRST WE TAKE ASSESSEES APPEAL IN ITA NO.1304/IND/ 2016 THE ASSESSEE HAS RAISED FOLLOWING GROUNDS OF APPEAL : ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD . AO HAS ERRED IN NOT PROVIDING ADEQUATE OPPORTUNITY AND LD. CIT(A) HAS ERRED BY UPHOLDING THE VIEW OF AO. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. AO HAS ERRED IN DISALLOWING THE DEDUCTION CLAIMED U/S 80IB (11A) BEING CLAIMED YEAR AFTER YEAR AND LD. CIT(A) HAS ERRED BY UPHOLDING THE VIEW OF AO. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. AO HAS ERRED FACT AS WELL AS IN CONSIDERING THE CAPITAL IN HOLDING BY THE PARTNER OF THE UNDISCLOSED INCOME OF THE FIRM AND L D. CIT(A) HAS ERRED IN CONFIRMING THE SAME. 2. AT THE OUTSET LD. COUNSEL FOR THE ASSESSEE SUBMI TTED THAT THE ISSUE INVOLVED IS REGARDING THE CLAIM OF DEDUCTION U/S 80(IB)11A OF THE INCOME TAX ACT, 1961, (HEREINAFTER CALLED AS T HE ACT). LD. COUNSEL SUBMITS THAT NO SUFFICIENT OPPORTUNITY WAS GRANTED BY LD. CIT(A). THE ASSESSEE WISHES TO FURNISH THE RELE VANT DOCUMENTS. HE PRAYED THAT MATTER MAY BE RESTORED TO THE FILE O F THE LD. CIT(A) FOR FRESH DECISION. LD. CIT-DR HAS NO OBJECTION IF THE MATTER IS RESTORED TO THE FILE OF THE LD. CIT(A), FOR RECONSI DERATION OF ASSESSEES CLAIM FOR DEDUCTION. 3. WE HAVE HEARD THE RIVAL CONTENTION AND PERUSED M ATERIAL ON RECORD. WE FIND THAT THE ASSESSEE WAS GRANTED SUFFI CIENT OPPORTUNITY, HOWEVER, IN THE INTEREST OF JUSTICE WE DEEM IT PROPER 3 THAT IF A FINAL OPPORTUNITY BE GRANTED TO THE ASSES SEE FOR FURNISHING DOCUMENTS IN SUPPORT OF ITS CLAIM ON THE BASIS OF W HICH THE LD. CIT(A) WOULD ADJUDICATE THE ELIGIBILITY AND ENTITLE MENT FOR DEDUCTION U/S 80(IB)(11A) OF THE ACT. HENCE, WE SET ASIDE TH E IMPUGNED ORDER AND RESTORE THE GROUNDS TO THE FILE OF THE LD. CIT( A) FOR DECISION AFRESH. ACCORDINGLY APPEAL OF THE ASSESSEE IS ALLOW ED FOR STATISTICAL PURPOSES. NOW WE TAKE IN ITANO.1305/IND/2016 4. BOTH THE PARTIES SUBMITTED THE FACTS AND CIRCUMS TANCES OF THIS CASE ARE SIMILAR TO DATE OF ITANO.1304/IND/2016. IN VIEW OF THIS THE PRESENT APPEAL I.E. ITANO.1305/IN/2016 IS ALSO ALLO WED FOR STATISTICAL PURPOSES ON SAME REASONING. 5 . IN THE RESULT, APPEALS OF BOTH THE ASSESSEES IN ITANO.1304/IND/2016 & ITANO.1305/IN/2016 ARE ALLOWE D FOR STATISTICAL PURPOSES. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 31 .01 .2018. SD/- (MANISH BORAD) SD/- (KUL BHARAT) CCOUNTANT MEMBER JUDICIALMEMBER INDORE; DATED : 31 / 01/2018 CTX? P.S/. . . COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUA RD FILE. BY ORDER PRIVATE SECRETARY/DDO, INDORE