M/s. Libra Auto & General Finance P.Ltd, Jalandhar V. The D.C.I.T., Jalandhar

ITA 143/ASR/2011

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 2208 (ITAT-AMRITSAR)
• Duration Of Justice: 2 year(s) 1 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-06-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 10-06-2013
• Assessment Year: 1998-1999
• Appeal Filed On: 20-04-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R L CHHANALIA
• Assessee Lawyers: SSH PREM SINGH; GUNJEET S INGH ITP
• Section: 234B; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P.JAIN, ACCOUNTANT MEMBER I.T.A. NO.143(ASR)/2011 ASSESSMENT YEAR:1998-99 PAN :AAACL2361E M/S. LIBRA AUTO & GENERAL FINANCE LTD. VS. DY. COMM R. OF INCOME TAX, JALANDHAR. RANGE-IV, JALANDHAR. (APPELLANT) (RESPONDENT) APPELLANT BY:S/SH. PREM SINGH ADVOCATE & GUNJEET SINGH, ITP RESPONDENT BY:SH.R.L.CHHANALIA, DR DATE OF HEARING: 10/06/2013 DATE OF PRONOUNCEMENT:14/06/2013 ORDER PER BENCH ; THIS APPEAL OF THE ASSESSEE ARISES FROM THE ORDER OF THE CIT(A), JALANDHAR, DATED 31.01.2011 FOR THE ASSESSMENT YEAR 1998-99. THE ASSESSEE HAS RAISED FOLLOWING GROUNDS OF APPEAL: 1. THAT THE LD. CIT(A) JALANDHAR HAS WRONGLY DISM ISSED THE APPEAL OF THE APPELLANT WITHOUT ANY JUSTIFICATIO N. 2. THAT NO INTEREST SHOULD HAVE BEEN CHARGED U/S 2 34B OF INCOME TAX ACT, 1961. 3 THAT PROPER OPPORTUNITY SHOULD HAVE BEEN ALLOWED. 4 THAT THE CALCULATIONS OF INTEREST U/S 234B ARE WRON G AND CONTESTED. 5. THAT THE ORDER IS AGAINST LAW AND FACTS OF THE CASE . 6. ANY OTHER GROUND IS PRESSED AT THE TIME OF HEARING. 2 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSE, MR. GUNJEET SINGH, ITP APPEARING ALONGWITH SH. PREM SINGH, ADVOCATE PRAYED TO WITHDRAW THE APPEAL, AS HE IS NOT INTERESTED IN PURSUING THE SAI D APPEAL IN VIEW OF THE DECISION OF HONBLE PUNJAB & HARYANA HIGH COURT IN THE CASE OF M/S. P.K.F. FINANCE LTD. VS. CIT, JALANDHAR IN ITA NO.158 OF 2 002 DATED 13 TH MAY, 2013 AND OTHER CONNECTED CASES. 3. THE LD. DR, ON THE OTHER HAND, DID NOT RAISE ANY OBJECTION TO THE SAID WITHDRAWAL OF THE APPEAL. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE FACTS OF THE CASE. AS PRAYED BY THE LD. COUNSEL FOR THE ASSESSEE, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN, AS MENTIONED HEREINABOVE. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IN ITA NO.143 (ASR)2011 IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 14TH JUNE, 2013. SD/- SD/- (H.S. SIDHU) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 14TH JUNE, 2013 /SKR/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE:M/S. LIOBRA AUTO & GENERAL FINANCE LTD ; JALANDHAR. 2. THE ADDL. CIT, RANGE-IV, JALANDHAR. 3. THE CIT(A), JALANDHAR. 4. THE CIT, JALANDHAR. 5. THE SR DR, ITAT, AMRITSAR. TRUE COPY BY ORDER 3 (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.