SHRI DEEPAK SURESH GADGE, Nagpur V. ACIT-CIRCLE-1, Nagpur

ITA 134/NAG/2014

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3238 (ITAT-NAGPUR)
• Duration Of Justice: 5 year(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-04-2019
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 04-04-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 25-03-2014
• Court: TRIBUNAL
• Keywords: Revision of order; TDS
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER ITA NO.134/NAG./2014 (ASSESSMENT YEAR : 200809 ) SHRI DEEPAK SURESH GADGE PRANAV APARTMENTS, 2 ND LANE BEHIND THE HITVADA DHANTOLI, NAGPUR 440 012 PAN ABZPG6643H . APPELLANT V/S ADDL. COMMISSIONER OF INCOME TAX CIRCLE1, DR. BABASAHEB AMBEDKAR BHAWAN, MECL BUILDING SEMINARY HILLS, NAGPUR 440 006 . RESPONDENT ASSESSEE BY : BY APPLICATION DTD. 29.3.201 7 REVENUE BY : SHRI A.R. NINAWE DATE OF HEARING 30.03.2017 DATE OF ORDER 30.03 .2017 O R D E R PER RAM LAL NEGI, J.M. THE AFORESAID APPEAL AT THE INSTANCE OF THE ASSESSE E IS DIRECTED AGAINST THE IMPUGNED ORDER DATED 28 TH MARCH, 2013, PASSED UNDER SECTION 263 OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT ) BY THE LEARNED COMMISSIONERI, NAGPUR, ON THE FOLLOWING GR OUNDS OF APPEAL: 1. THE ASSESSEE HAD OBTAINED CERTAIN UNSECURED LOA NS FROM VARIOUS PARTIES. THE LOANS ARE PRINCIPALLY OBTAINED THROUGH FINANCE BROKERS. ALL THE LOAN CREDITORS WERE PAID I NTEREST AND TDS IS DEDUCTED AND PAID TO THE CREDIT OF THE GOVERNMEN T. THE CREDITORS HAVE PAN IDENTIFICATION AND ARE GENUINE. IN SUBSEQUENT YEARS THESE LOANS ARE REPAID, AGAIN VIA THE FINANCE BROKERS. CONFIRMATION LETTERS FROM THE LENDERS ARE SUBMITTED AT THE TIME OF THE ASSESSMENT AND THE SAME ARE ACKNOWLEDGED BY THE ASSESSING OFFICER. 2 SHRI DEEPAK SURESH GADGE THE ASSESSING OFFICER HAS PASSED AN ORDER AFTER ACK NOWLEDGING THE CONFIRMATIONS AND AFTER VERIFYING THE GENUINENE SS OF THE LOAN CREDITORS. IN SUCH A CASE, ORDER U/S 263 TANTAMOUNT TO CHANGE OF VIEW/OPINION OF THE ASSESSING OFFICER AND HENCE AGG RIEVED BY THIS ORDER THE APPELLANT HAS PREFERRED THIS APPEAL BEFOR E THE INCOME TAX APPELLATE TRIBUNAL (ITAT); 2. ALL PROOFS OF AGRICULTURAL INCOME WERE PRODUCED AND SUBMITTED AT THE TIME OF ASSESSMENT WHICH WERE ACCEPTED BY TH E ASSESSING OFFICER. THE ORDER U/S 263 REQUIRES THE ASSESSEE TO AGAIN PROVE ITS CLAIM FOR AGRICULTURAL INCOME. IN SUCH A CASE, ORDER ULS 263 TENTAMOUNTS TO CHANGE OF VIEW/OPINION OF THE ASSESS ING OFFICER AND HENCE AGGRIEVED BY THIS ORDER THE APPELLANT HAS PREFERRED THIS APPEAL BEFORE THE INCOME TAX APPELLATE TRIBUNA L (ITAT); 3. THE ASSESSEE INVESTED A SUM OF RS 73 LACS IN THE CAPITAL OF PARTNERSHIP FIRMS. THE ASSESSING OFFICER HAS ALREAD Y FRAMED HIS ASSESSMENT ORDER AFTER VERIFYING THE BOOKS OF ACCOU NT AND CONSEQUENTLY THE INVESTMENTS IN CAPITAL ACCOUNTS OF THE FIRMS. IN THIS SCENARIO, THE ORDER U/S 263 QUESTIONS THE A SSESSMENT PROCEEDINGS WHICH IS NOT PERMISSIBLE IN LAW. 2. WHEN THE CASE WAS CALLED FOR HEARING NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVER, THE ASSESSEE HAS ALREADY FIL ED A LETTER DATED 29 TH MARCH 2017, SEEKING PERMISSION TO WITHDRAW THE PRE SENT APPEAL. THE CONTENTS OF THE SAID LETTER ARE REPRODUCED BELO W: ASSESSMENT U/S 143(3) DATED 07/05/2010 WAS SUBJECT MATTER OF ORDER U/S 263 OF THE INCOME TAX ACT, 1961. APPEAL W AS FILED AGAINST ORDER U/S 263 WHICH IS FIXED FOR HEARING ON 30/3/2017. ORDER U/S 143(3) R.W.S 263 WAS PASSED ON 20/03/2014 WHICH WAS APPEALED AGAINST BEFORE COMMISSIONER OF INCOME TAX (APPEALS)- 1, NAGPUR. COMMISSIONER OF INCOME TAX (APPEALS)-I, NAGPUR VIDE ORDER NO. CIT(A)-1/144/14-15 DATED 29/06/2016 ALLOW ED FULL RELIEF. SINCE THE DEPARTMENT HAS ACCEPTED THE ORDER OF COMM ISSIONER OF INCOME TAX (APPEALS)-1, NAGPUR AND HAS NOT PREFERRE D AN APPEAL BEFORE HON'BLE ITAT, NAGPUR, APPEAL FILED BY THE AP PELLANT BEFORE HON'BLE HAT, NAGPUR DOES NOT SURVIVE. 3 SHRI DEEPAK SURESH GADGE IN VIEW OF ABOVE APPELLANT MAY KINDLY BE ALLOWED TO WITHDRAW APPEAL FILED BEFORE HON'BLE ITAT, NAGPUR (APPEAL NO .134/NAG/ 2014) 3. LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT OPPOSE TO THE CONTENTS OF THE AFORESAID LETTER OF THE LEARNED COU NSEL FOR ASSESSEE FOR WITHDRAWAL OF ASSESSEES APPEAL. 4. IN VIEW OF THE ABOVE, WE TREAT THIS APPEAL AS WITHDRAWN . 5. IN THE RESULT, ASSESSEES APPEAL IS DISMISSED AS WI THDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 30.03.2017 SD/ - SHAMIM YAHYA ACCOUNTANT MEMBER SD/ - RAM LAL NEGI JUDICIAL MEMBER NAGPUR, DATED: 30.03.2017 COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, NAGPUR CITY CONCERNED; (5) THE DR, ITAT, NAGPUR; (6) GUARD FILE. TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY (DY./ASSTT. REGISTRAR) ITAT, NAGPUR