Parker Multi Commodities (I) Pvt.Ltd., Ahmedabad V. The ACIT, Circle-5, Ahmedabad

ITA 157/AHD/2015

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 6199 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 13-01-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R P MAURYA
• Section: 143(3); 14A

Judgement Text

ITA NO.157/AHD/2015 ASSESSMENT YEAR : 2010-11 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD SMC BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM] ITA NO.157/AHD/2015 ASSESSMENT YEAR: 2010-11 PARKER MULTI COMMODITIES (I) PVT. LTD., ..................APPELLANT 1,3 RD FLOOR, LANDMARK BUILDINGH, OPP. HDFC HOUSE, NEAR MITHAKHALI SIX ROADS, AHMEDABAD 380 009. [PAN : AAACP 9355 J]. VS. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 5, AHMEDABAD. ............................RESPONDENT APPEARANCES BY NONE FOR THE APPELLANT R.P. MAURYA FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : 29.01.2018 DATE OF PRONOUNCING THE ORDER : 30.01.2018 O R D E R 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HA S CHALLENGED CORRECTNESS OF THE ORDER DATED 03.09.2014, PASSED BY THE LEARNED CIT(A)-XII, AHMEDABAD, IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 ( THE ACT HEREINAFTER) FOR THE ASSESSMENT YEAR 2010-11, ON THE FOLLOWING GROUNDS : 1. THE ORDER PASSED BY LEARNED CIT (APPEALS) IS BA D IN LAW AND ON FACT AND HENCE IT IS REQUESTED THAT THE SAME BE SUITABLY MODIFIED. 2. THE LEARNED CIT (APPEALS) GROSSLY ERRED IN LAW A ND ON FACTS OF THE CASE IN CONFIRMING THE ACTION OF THE AO IN MAKING DISALLOWA NCE OF RS.6,93,413/- BY INVOKING THE PROVISIONS OF SECTION 14A OF THE I.T. ACT READ WITH RULE 8D OF THE I.T. RULES OUT OF EXPENDITURE INCURRED WHOLLY AND EXCLUS IVELY FOR EARNING THE INCOME CHARGEABLE TO TAX. 2.1 THE LEARNED CIT (APPEALS) HAS GROSSLY ERR ED IN LAW & ON FACTS OF THE CASE IN CONFIRMING THE ACTION OF THE AO IN MAKING THE IMPUG NED ADDITION BY INVOKING THE PROVISIONS OF SECTION 14A OF THE I.T. ACT AND RULE 8D OF THE I.T. RULES IGNORING THE FACT THAT ALL THE EXPENDITURE HAD BEEN INCURRED WHOLLY AND EXCLUSIVELY FOR EARNING THE INCOME INCLUDED IN THE TOTAL INCOME. 2.2 THE LEARNED CIT (APPEALS) HAS GROSSLY ERRED IN LAW & ON FACTS OF THE CASE IN CONFIRMING THE ACTION OF THE AO IN MAKING THE IMPUG NED ADDITION WITHOUT APPRECIATING THE FACT THAT THE AO HAD MISINTERPRETE D RULE 8D. HENCE, THE ITA NO.157/AHD/2015 ASSESSMENT YEAR : 2010-11 PAGE 2 OF 2 DISALLOWANCE MADE BY THE AO AND CONFIRMED BY THE CI T (A) IS NOT IN ACCORDANCE WITH SUB RULE 1 OF RULE 8D OF THE I.T. RULES, 1962. 2.3 THE LEARNED CIT (APPEALS) HAS GROSSLY ERRED IN LAW & ON FACTS OF THE CASE IN CONFIRMING THE DISALLOWANCE MADE BY THE AO WITHOUT APPRECIATING THE RATIO OF THE VARIOUS CASE LAWS WHICH WERE SPECIFICALLY BROUGHT H IS NOTICE IN THE WRITTEN SUBMISSION FILED BEFORE HIM. 2. THIS CASE WAS EARLIER FIXED FOR HEARING ON 15.11 .2017, HOWEVER, THE HEARING WAS ADJOURNED TO 29.01.2018. IT IS NOTICED THAT WHEN T HE MATTER CAME UP FOR HEARING ON 29.01.2018, NONE APPEARED FOR AND ON BEHALF OF THE ASSESSEE APP ELLANT. FROM THIS, IT IS REASONABLE TO INFER THAT THE ASSESSEE IS NOT SERIOUS TO PURSUE ITS CASE . HONBLE SUPREME COURT IN THE CASE OF CIT VS. B.N. BHATTACHARGEE AND ANOTHER, 118 ITR 461(SC) OBSERVED THAT PREFERRING AN APPEAL MEANS EFFECTIVELY PURSUING IT. HONBLE M.P. HIGH C OURT IN THE CASE OF ESTATE OF LATE TUKOJIRAO HOLKAR VS. CWT, 223 ITR 480(M.P.) DISMISSED THE REF ERENCE FILED BY THE ASSESSEE FOR NOT TAKING NECESSARY STEPS. SIMILAR VIEW IS TAKEN BY I.T.A.T. , DELHI BENCH IN THE CASE OF MULTIPLAN INDIA LTD., 38 ITD 320. CONSIDERING THE ABOVE, IT APPEAR S THAT THE ASSESSEE IS NOT INTERESTED IN PROSECUTING ITS APPEAL. I, THEREFORE, DISMISS THE APPEAL FILED BY THE ASSESSEE FOR NON- PROSECUTION. 3. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS D ISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 30 TH DAY OF JANUARY, 2018. SD/- PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: AHMEDABAD, THE 30 TH DAY OF JANUARY, 2018. PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD