M/s Coastal Developers Pvt Ltd., Visakhapatnam V. The DCIT, Circle-3(1)., Visakhapatnam

ITA 151/VIZ/2006

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 2826 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 3 year(s) 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-12-2009
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2002-2003
• Appeal Filed On: 03-04-2006
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G S S GOPINATH
• Keywords: Rectification of order
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NO.151/VIZAG/2006 ASSESSMENT YEAR : 2002-03 COASTAL DEVELOPERS (P) LTD. VISAKHAPATNAM DCIT, CIRCLE-3(1), VISAKHAPATNAM (APPELLANT) VS. (RESPONDENT) PAN NO.AABCC 2356H APPELLANT BY: SHRI G.V.N. HARI, CA RESPONDENT BY: SHRI G.S.S. GOPINATH, DR ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER:- THIS APPEAL IS PREFERRED BY THE ASSESSEES AGAINST THE ORDER OF THE CIT(A) PERTAINING TO THE ASSESSMENT YEAR 2002-03 ON FOLLOWING GROUNDS:- 1. THE LD. CIT(A)-1, VISAKHAPATNAM IS NOT JUSTIFIED IN PASSING ORDER UNDER SECTION 154 OF THE INCOME TAX ACT, RECT IFYING HIS ORDER IN OF THE APPEAL FILED BY THE APPELLANT PASSE D IN ITA NO.29/05-06 FOR THE ASSESSMENT YEAR 2002-03 BASED O N MISCELLANEOUS PETITION FILED BY THE LEARNED ASSESSI NG OFFICER. 2. THE LD. CIT(A)-1, VISAKHAPATNAM IS NOT JUSTIFIED IN TREATING THE ORIGINAL APPEAL ORDER DATED 19.5.2005 IN THE APPELL ANTS CASE WAS FINALIZED ON THE BASIS OF INCORRECT APPRECIATIO N OF FACTS, BECAUSE OF MISREPRESENTATION OF FACTS BY THE APPELL ANT AND RECTIFYING THE SAID ORDER BY PASSING RECTIFICATION ORDER AS PER THE PROVISIONS OF SECTION 154 OF THE INCOME TAX ACT. 3. THE LD. CIT(A)-1, VISAKHAPATNAM HAS NOT CONSIDERED THE SUBMISSIONS MADE BY THE APPELLANT IN REPLY TO HIS S HOW CAUSE NOTICE AGAINST RECTIFICATION AND ESPECIALLY THE FOL LOWING: I) THE METHOD OF ACCOUNTING FOLLOWED BY THE ASSESSING OFFICER IS NOT CONSISTENT WITH THE METHOD FOLLOWED IN THE EARLIER ASSESSMENT YEARS. II) EVEN ASSESSING BUT NOT CONCEDING THAT THE METHOD FOLLOWED BY THE ASSESSEE IS NOT ACCEPTABLE, THE APPARENT MISTAKES COMMITTED BY THE ASSESSING OFFICE R IN COMPUTING THE INCOME EVEN UNDER THE METHOD ADOPTED BY HIM HAVE NOT BEEN RECTIFIED. III) BY ADOPTING THE METHOD THE ASSESSING OFFICER HAS IGNORED THE FACT THAT CERTAIN INCOME ASSESSED EARLI ER IS AGAIN ASSESSED. 2 4. THE LD. CIT(A)-1, VISAKHAPATNAM IS NOT JUSTIFIED IN CONFIRMING THE INCOME AS DETERMINED BY THE LD. ASSESSING OFFIC ER AT RS.16,39,090 AND CONFIRMING THE LEARNED ASSESSING O FFICERS ACTION OF REJECTING THE BOOK RESULTS. 5. FOR THE ABOVE AND SUCH OTHER GROUNDS THAT MAY BE UR GED AT THE TIME OF HEARING, APPELLANT PRAYS THAT RELIEF AS PRA YED MAY KINDLY BE GRANTED. 2. DURING THE COURSE OF HEARING THE LD. COUNSEL FOR THE ASSESSEES HAS MADE THE STATEMENT THAT THE ASSESSEE WANTS TO WITHD RAW THE APPEAL AND THE SAME MAY BE TREATED AS WITHDRAWN. THE REQUEST OF T HE ASSESSEE WAS NOT OBJECTED TO BY THE REVENUE. ACCORDINGLY, WE DISMIS S THE APPEAL AS WITHDRAWN. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. PRONOUNCED IN THE OPEN COURT ON 4.12.2009 SD/- SD/- (BR BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 4 TH DECEMBER, 2009 COPY TO 1 M/S. COASTAL DEVELOPERS PRIVATE LIMITED, D.NO.15- 1-37/3, NOWROJI ROAD, MAHARANIPETA, VISAKHAPATNAM-530 002. 2 THE DCIT, CIRCLE-3(1), VISAKHAPATNAM 3 THE CIT, VISAKHAPATNAM 4 THE CIT(A)-1, VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM