Asstt.Commissioner of Income Tax, C-4(1), Chandigarh V. M/S SML Isuzu Limited, Chandigarh

ITA 1424/CHANDI/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 4386 (ITAT-CHANDIGARH)
• Duration Of Justice: 4 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 14-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SACHIN JAIN S; SSH NAYAN JAIN

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, B, CHANDIGARH , ! '# $ % & '# , () BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ./ ITA NOS. 1424 & 1425/CHD/2018 / ASSESSMENT YEARS : 2014-15 & 2015-16 THE ACIT, CIRCLE 4(1), CHANDIGARH M/S SML ISUZU LIMITED, SCO 204-205, SECTOR 34-A, CHANDIGARH ./PAN NO: AACCS299IP / APPELLANT /RESPONDENT ! /ASSESSEE BY : S/SH. NAYAN JAIN & SACHIN JAIN, ADV OCATES ' ! / REVENUE BY : SH. MANJIT SINGH, CIT DR SHRI G.S. PHANI KISHORE, CIT DR # $ % /DATE OF HEARING : 20.03.2019 &'() % / DATE OF PRONOUNCEMENT : 20.03.2019 (*/ ORDER PER BENCH: THE PRESENT APPEALS HAVE BEEN PREFERRED BY THE REVE NUE AGAINST THE SEPARATE ORDERS OF THE COMMISSIONER OF INCOME TAX-2 , CHANDIGARH DATED 12.09.2018. 2. THE SOLE ISSUE INVOLVED IN BOTH THE APPEALS IS R ELATING TO THE ACTION OF THE CIT(A) IN DELETING THE ADDITIONS MADE BY THE ASSESSING OFFICER BY INVOKING OF THE PROVISIONS OF SECTION 145A OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT') BY LOADING EXCISE DUTY ON CLOS ING STOCK OF WORK IN PROGRESS. ITA NOS. 1424 & 1425/CHD/2018- M/S SHIMLA ISUZU LTD, CHANDIGARH 2 3. AT THE OUTSET, BOTH THE LD. REPRESENTATIVES OF T HE PARTIES HAVE SUBMITTED THAT THE ISSUE IS NOW SQUARELY COVERED BY THE DECISION OF THE TRIBUNAL IN THE OWN CASE OF THE ASSESSEE VIDE COMMO N ORDER DATED 14.5.2018 OF THE TRIBUNAL IN ITA NO. 79/CHD/2009 FO R ASSESSMENT YEAR 2005-06 & ORS., WHEREIN, THE TRIBUNAL WHILE ADJUDIC ATING THE ISSUE HAS CONCLUDED AS UNDER:- 30. WE HAVE CONSIDERED THE RIVAL CONTENTIONS. I N THE CASE IN HAND, THE ASSESSEE HAS NOT PAID ANY EXCISE DUTY ON THE CLOSING WORK IN PROGRESS AND HENCE THERE WAS NO QUESTION OF LOADING ANY EXCISE DUTY ON ESTIMATION B ASIS. EVEN OTHERWISE, IF THE VALUE OF THE EXCISE DUTY HAS TO BE INCLUDED IN THE CLOSING STOCK THEN THE VALUE OF EXC ISE DUTY HAS ALSO TO BE INCLUDED IN THE OPENING STOCK AND IN THAT EVENT THERE WOULD BE NO DIFFERENCE IN THE RESULT OF THE VALUE OF THE OPENING STOCK AND CLOSING STOCK. RELI ANCE IN THIS RESPECT IS PLACED ON THE DECISION OF THE DELH I HIGH COURT IN THE CASE OF PUROLATOR INDIA LTD. (SUPRA) AND OF THE ALLAHABAD HIGH COURT IN THE CASE OF CIT VS. SA NGAM STRUCTURALS LTD. (2013) 35 TAXMAN.COM 148 (ALL.) IN VIEW OF THIS, WE DO NOT FIND ANY JUSTIFICATION IN MAKING THE AFORESAID ADDITION. WE, THEREFORE, UPHOL D THE DECISION OF THE CIT(A) IN DELETING THE ADDITION ON THIS ISSUE. IN THE RESULT, THE APPEAL OF THE REVENUE IS HEREBY DISMISSED. 4. IN VIEW OF THIS, THE ISSUE IS SQUARELY COVERED B Y THE ABOVE DECISION DATED 14.5.2018 (SUPRA) OF THE TRIBUNAL. THEREFORE , WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE CIT(A) WHILE DELETING THE IMPUGNED ADDITIONS. THERE IS NO MERIT IN THE AFORESAID APPEALS OF THE R EVENUE AND THE SAME ARE ACCORDINGLY DISMISSED. 5. NO OTHER ISSUE OR POINT WAS RAISED OR ARGUED. ITA NOS. 1424 & 1425/CHD/2018- M/S SHIMLA ISUZU LTD, CHANDIGARH 3 IN THE RESULT, THE APPEALS OF THE REVENUE ARE DISMI SSED. ORDER DICTATED AND PRONOUNCED IN THE OPEN COURT IMM EDIATELY ON COMPLETION OF HEARING. SD/- SD/- ( $ % & '# / ANNAPURNA GUPTA) () / ACCOUNTANT MEMBER ( / SANJAY GARG) / JUDICIAL MEMBER DATED : 20.03.2019 .. '+ ,- .- / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. # / / CIT 4. # / ( )/ THE CIT(A) 5. -01 2 , % 2 , 34516 / DR, ITAT, CHANDIGARH 6. 15 7$ / GUARD FILE '+ # / BY ORDER, 8 ' / ASSISTANT REGISTRAR