Gujarat Mineral Development Corporation Ltd., Ahmedabad V. The ACIT.,Circle-4, Ahmedabad

ITA 1404/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0066 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 6 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-11-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 16-11-2016
• Assessment Year: 2002-2003
• Appeal Filed On: 13-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Revised return
• Section: 154

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI PRADIPKUMAR KEDIA, ACCOUNTANT MEMBER ./ ITA.NO.1404/AHD/2013 / ASSTT. YEAR: 2012-2013 GUJARAT MINERAL DEVELOPMENT CORPORATION LTD. KHANIJ BHAVAN 132FT. RING ROAD UNIVERSITY GROUND AHMEDABAD 380 005. PAN : AAACG 7987 P VS ACIT, CIR.4 AHMEDABAD. ! / (APPELLANT) '# ! / (RESPONDENT) REVENUE BY : SHRI JAMES KURIAN, SR.DR ASSESSEE BY : SHRI S.N. SOPARKAR / DATE OF HEARING : 16/11/2016 / DATE OF PRONOUNCEMENT: 16 /11/2016 $%/ O R D E R PER SHRI RAJPAL YADAV, JUDICIAL MEMBER: ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL AGAINST T HE ORDER OF THE LD.CIT(A)-XXI, AHMEDABAD DATED 01.03.2013 PASSED FO R THE ASSTT.YEAR 2002-03. 2. ASSESSEE HAS RAISED FOUR GROUNDS OF APPEAL, BUT ITS GRIEVANCE REVOLVES AROUND A SINGLE ISSUE WHEREBY IT HAS PLEADED THAT T HE LD.CIT(A) HAS ERRED IN CONFIRMING ORDER OF THE AO DATED 16.8.2010 PASSED U NDER SECTION 154 OF THE ITA NO.1404/AHD/2013 2 INCOME TAX ACT, 1961, WHEREBY HE DETERMINED THE TOT AL TAXABLE INCOME OF THE ASSESSEE AT RS.122,22,54,378/-. 3. WITH THE ASSISTANCE OF THE LD.REPRESENATIVES, WE HAVE GONE THROUGH THE RECORD CAREFULLY. IT EMERGES OUT FROM THE RECORD T HAT THE ASSESSEE HAS FILED ITS RETURN OF INCOME ON 28.12.2004 DECLARING TOTAL INCO ME AT RS.103,35,44,870/-. THIS RETURN WAS PROCESSED UNDER SECTION 143(1) OF T HE ACT ON 27.12.2002 THEREAFTER THE CASE OF THE ASSESSEE WAS SELECTED FO R SCRUTINY ASSESSMENT AND NOTICE UNDER SECTION 143(2) WAS ISSUED AND SERVED U PON THE ASSESSEE. DURING THE PENDENCY OF THE ASSESSMENT PROCEEDINGS, THE ASS ESSEE HAS FILED REVISED RETURN ON 13.11.2003 DISCLOSING TOTAL INCOME AT RS. 110,83,57,750/-. THE LD.AO HAS PASSED ASSESSMENT ORDER UNDER SECTION 143 (3) ON 28.12.2004. LITIGATION ULTIMATELY REACHED TO THE TRIBUNAL IN IT A NO.2281/AHD/2004 WHICH WAS DECIDED ON 4.3.2005. IT APPEARS THAT THE LD.AO HAS PASSED AN ORDER UNDER SECTION 154 ON 14.11.2008 WHEREBY HE HAS GIVE N EFFECT TO THE ORDER OF THE TRIBUNAL, THEREAFTER, THE LD.AO AGAIN INITIATED PROCEEDINGS UNDER SECTION 154 OF THE INCOME TAX ACT, AND PASSED A FRESH ORDER DATED 16.8.2010. BY WAY OF THIS ORDER, HE HAD VACATED EARLIER ORDER PAS SED BY HIM ON 14.11.2008. IT HAS BEEN BROUGHT TO OUR NOTICE THAT THE LD.AO HA S FAILED TO APPRECIATE VARIOUS ORDERS PASSED BY THE LD.CIT(A) AS WELL AS I TAT. ACCORDING TO THE LD. COUNSEL FOR THE ASSESSEE, ENDS OF JUSTICE WOULD BE MET, IF THE IMPUGNED ORDERS ARE BEING SET ASIDE AND THIS ISSUE OF RE-COMPUTATIO N OF INCOME IS BEING RESTORED TO LD.AO, WHO WILL RECOMPUTED THE INCOME A FTER TAKING COGNIZANCE OF ITAT AND CIT(A)S ORDERS. 4. AFTER GOING THROUGH THE RECORDS, WE ARE CONVINCE D THAT THELD.AO WAS FAILED TO TAKE NOTE OF VARIOUS FACTORS WHILE PASSIN G THE IMPUGNED ORDER. THEREFORE, WE SET ASIDE ORDER OF THE LD.CIT(A) AS W ELL AS OF LD.AO. WE REMIT THIS ISSUE TO THE FILE OF AO FOR PASSING A FRESH OR DER. THE LD.AO SHALL TAKE ITA NO.1404/AHD/2013 3 INTO CONSIDERATION ORIGINAL RETURN FILED BY THE ASS ESSEE, REVISED RETURN AND THE APPELLATE ORDERS. THE LD.AO SHALL PROVIDE DUE OPPO RTUNITY OF HEARING TO THE ASSESSEE BEFORE RE-COMPUTING INCOME OF THE ASSESSEE ON THE BASIS OF VARIOUS APPELLATE ORDERS AND REVISED RETURN. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE COURT ON 16 TH NOVEMBER, 2016 AT AHMEDABAD. SD/- SD/- (PRADIPKUMAR KEDIA) ACCOUNTANT MEMBER (RAJPAL YADAV) JUDICIAL MEMBER AHMEDABAD; DATED 16/11/2016