ACIT, CHENNAI V. M/s. Aban Offshore Ltd., CHENNAI

ITA 1342/CHNY/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 2463 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-06-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 11-06-2013
• Assessment Year: 2006-2007
• Appeal Filed On: 15-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P PEERYA
• Section: 143(3); 263; 2

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL C BENCH, CHENNAI. BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER & SHRI V. DURGA RAO, JUDICIAL MEMBER ITA NO S . 1341 AND 1342 /MDS/2012 ASSESSMENT YEARS : 2005-06 AND 2006-07 THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE I(1), CHENNAI. VS. M/S. ABAN OFFSHORE LTD., JANPRIYA CREST, 113/96, PANTHEON ROAD, EGMORE, CHENNAI 8. [PAN: AAACA3012H] (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI P. PEERYA, CIT RESPONDENT BY : SHRI VIKRAM VIJAYARAGHAVAN & SHRI SAROJ KUMAR PARIDA, ADVOCATES DATE OF HEARING : 11.06.2013 DATE OF PRONOUNCEMENT : 17.06.2013 O R D E R PER V. DURGA RAO, JUDICIAL MEMBER : THESE TWO APPEALS HAVE BEEN FILED BY THE REVENUE AR E DIRECTED AGAINST CONSOLIDATED ORDER OF THE COMMISSIONER OF I NCOME TAX (APPEALS)- III, CHENNAI DATED 28.03.2012 RELEVANT TO THE ASSES SMENT YEARS 2005-06 AND 2006-07. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE I S ENGAGED IN THE BUSINESS OF DRILLING AND OTHER OIL FIELD RELATED SE RVICES. FOR THE ASSESSMENT YEAR 2005-06, THE ASSESSEE FILED ITS RETURN DECLARI NG TOTAL INCOME OF ` .58,77,89,299/- ON 28.10.2005. THE RETURN WAS INITI ALLY PROCESSED UNDER I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .13 1313 1341 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 2 SECTION 143(1) OF THE INCOME TAX ACT. SUBSEQUENTLY, THE ASSESSMENT UNDER SECTION 143(3) WAS COMPLETED ON 29.12.2008 BY ASSES SING TOTAL INCOME OF THE ASSESSEE OF ` .66,58,53,870/-. THE ASSESSEE CARRIED THE MATTER BE FORE THE CIT(APPEALS) AND THE CIT(APPEALS) HAS GRANTED T HE RELIEF TO THE ASSESSEE. 3. SIMILARLY, FOR THE ASSESSMENT YEAR 2006-07, THE ASSESSEE FILED ITS RETURN DECLARING TOTAL INCOME OF ` .1,63,30,04,608/- ON 09.11.2006. THE RETURN WAS INITIALLY PROCESSED UNDER SECTION 143(1) OF THE INCOME TAX ACT. SUBSEQUENTLY, THE ASSESSMENT UNDER SECTION 143(3) W AS COMPLETED ON 30.12.2008 BY ASSESSING TOTAL INCOME OF THE ASSESSE E OF ` .1,75,08,96,900/-. THE ASSESSEE CARRIED THE MATTER BEFORE THE CIT(APPE ALS) AND THE HE HAS GRANTED RELIEF TO THE ASSESSEE. 4. THEREAFTER, THE COMMISSIONER OF INCOME TAX ISSU ED NOTICE UNDER SECTION 263 ON 17.03.2011 BY SETTING ASIDE THE ASSE SSMENT ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) OF THE A CT FOR BOTH THE ASSESSMENT YEARS. 5. IN PURSUANCE TO THE ORDER PASSED BY THE COMMISS IONER OF INCOME TAX, THE ASSESSING OFFICER HAS COMPLETED THE ASSESS MENT UNDER SECTION 143(3) R.W.S. 263 OF THE ACT DATED 30.12.2011 FOR B OTH THE ASSESSMENT YEARS. AGAINST THE ABOVE ASSESSMENT ORDERS, THE ASS ESSEE CARRIED THE I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .13 1313 1341 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 3 MATTERS BEFORE THE CIT(APPEALS) AND HE HAS ALLOWED THE APPEAL FOR THE ASSESSMENT YEAR 2006-07 AND PARTLY ALLOWED FOR THE ASSESSMENT YEAR 2005- 06. ON BEING AGGRIEVED, THE REVENUE IS IN APPEAL BE FORE THE TRIBUNAL FOR BOTH THE ASSESSMENT YEARS. 6. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE ASSESSMENT ORDERS, WHICH ARE THE BASIS FOR THE APPEALS WERE QUASHED BY THE TRIBUNAL IN I.T.A. NOS. 912 AND 913/ MDS/2011 [FOR THE ASSESSMENT YEARS 2005-06 AND 2006-07] VIDE ORDER DA TED 21.03.2012 AND THEREFORE, THE PRESENT APPEALS CANNOT SURVIVE. 7. THE LD. DR FAIRLY CONCEDED THE SUBMISSIONS MADE BY THE LD. COUNSEL FOR THE ASSESSEE. 8. WE HAVE HEARD BOTH SIDES, PERUSED THE RECORDS A ND HAVE GONE THROUGH THE ORDERS OF AUTHORITIES BELOW. WE FIND TH AT THE ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER IN PURSUANCE TO THE DIRECTIONS GIVEN BY THE COMMISSIONER OF INCOME TAX UNDER SECTION 263 WERE Q UASHED BY THE TRIBUNAL IN I.T.A. NOS. 912 AND 913/MDS/2011 VIDE O RDER DATED 21.03.2012 FOR THE ASSESSMENT YEARS 2005-06 AND 2006-07 BY HOL DING THAT THE PROVISIONS OF SECTION 263 CANNOT BE INVOKED ON THE GROUND THAT A DIFFERENT VIEW CAN BE TAKEN IN ORDER TO GENERATE MORE REVENUE . IN VIEW OF THE ABOVE, BOTH THE APPEALS FILED BY THE REVENUE STAND DISMISS ED FOR THE ASSESSMENT YEARS 2005-06 AND 2006-07. SINCE THE ASSESSMENT ORD ERS STAND QUASHED BY I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .13 1313 1341 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 41 & 1342/MDS/12 4 THE TRIBUNAL VIDE ORDER DATED 21.03.2012 AND THE AP PEALS FILED BY THE REVENUE ARE DISMISSED, WE ARE NOT ADJUDICATING THE GROUNDS RAISED BY THE REVENUE FOR BOTH THE ASSESSMENT YEARS. 9. IN THE RESULT, BOTH THE APPEALS FILED BY THE RE VENUE ARE DISMISSED. ORDER PRONOUNCED ON MONDAY, THE 17 TH OF JUNE, 2013 AT CHENNAI. SD/ - SD/ - (ABRAHAM P. GEORGE) ACCOUNTANT MEMBER (V. DURGA RAO) JUDICIAL MEMBER CHENNAI, DATED, THE 17.06.2013 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.