Agri Gold Farm Estates India Private Limted , Hyderabad V. Dy. Commissioner of Income Tax , Central Circle-2(4), Hyderabad

ITA 1670/Hyd/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 4533 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-02-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 01-02-2019
• Assessment Year: 2014-2015
• Appeal Filed On: 08-08-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Section: 12

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B , HYDERABAD BEFORE S MT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S . RIFAUR RAHMAN , ACCOUNTANT MEMBER ITA NO S . 1669 & 1670/H YD/201 8 ASSESSMENT YEAR S : 20 13 - 14 & 2014 - 15 AGRI GOLD FARM ESTATES INDIA PVT. LTD., HYDERABAD. PAN A ADCA 9678C VS. DY. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 2(4), HYD. (APPELLANT) (RESPONDENT) ITA NO. 1671/HYD/2018 ASSESSMENT YEAR: 2014 - 15 AGRI GOLD FOODS AND FARM PRODUCTS LTD., HYDERABAD. PAN AABCA 8733E VS. DY. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 2(4), HYD. ASSESSEE BY : NONE REVENUE BY : S HRI Y.V.S.T. SAI DATE OF HEARING : 01 - 0 2 - 201 9 DATE OF PRONOUNCEMENT : 08 - 0 2 - 201 9 O R D E R PER S . RIFAUR RAHMAN, A .M.: TH E S E APPEAL S FILED BY ASSESSEE S ARE DIRECTED AGAINST THE ORDER S O F CIT(A) 1 2 , HYDERABAD, FOR AY S. 2013 - 14 & 2014 - 15 2. WHEN THE SE APPEAL S W ERE POSTED FOR HEARING ON 01 /0 2 /201 9 , NONE APPEARED ON BEHALF OF THE ASSESSEE NOR THE DEFECTS RAISED BY THE REGISTRY WERE RECTIFIED THOUGH THE NOTI CE HAS BEEN SERVED . IN THESE CIRCUMSTANCES, WE ARE OF THE VIEW THAT THE ASSESSEE IS NOT INTERESTED IN PROSECUTING ITS APPEAL. IT HAS BEEN HELD BY THE HONBLE SUPREME COURT IN THE CASE OF B.N. BHTTACHARGEE & ANR., 2 ITA NO S . 1669 TO 1671 /HYD/201 8 AGRI GOLD FARM ESTATES INDIA PVT. LTD. AND OTHERS 118 ITR 461 THAT APPEAL DOES NOT MEAN ONLY FILING OF MEMO OF APPEAL BUT ALSO PURSUING IT EFFECTIVELY. IN CASES WHERE THE ASSESSEE DOES NOT WANT TO PURSUE THE APPEAL, COURT/TRIBUNAL HAVE INHERENT POWER TO DISMISS THE APPEAL FOR NON - PROSECUTION AS HELD BY HONBLE HIGH COURT OF MUMBAI IN THE CASE OF M/S CHEMIPOL VS. UNION OF INDIA IN EXCISE APPEAL NO. 62 OF 2009. THEREFORE, RESPECTFULLY FOLLOWING THE DECISION OF THE TRIBUNAL IN THE CASE OF MULTIPLAN (INDIA) LTD., (38 ITD 320) AND MADHYA PRADESH HIGH COURT IN LATE TUKOJIRAO HOLKAR (223 ITR 480), WE DISMISS TH ESE APPEAL S OF THE ASSESSEE FOR WANT OF PROSECUTION. 3. EVEN ON MERITS , THE ASSESSEE FILED ITS RETURN OF INCOME FOR THE AY 2013 - 14 ON 31/10/20 13 ADMITTING LOSS OF RS. 2,66,18,742/ - AND ADMITTING LOSS OF RS. 1,72,16,43,996/ - FOR AY 2014 - 15. THE AO ASSESSED THE TOTAL INCOME OF THE ASSESSEE AT RS. 24,19,14,750/ - AS AGAINST THE ORIGINALLY RETURNED LOSS OF RS. 2,66,18,742/ - FOR AY 2013 - 14 AND ASSESS ED THE TOTAL INCOME AT RS. 52,90,12,600/ - AS AGAINST ORIGINALLY RETURNED LOSS OF RS. 1,72,16,43,996/ - FOR AY 2014 - 15 BY MAKING SOME ADDITIONS IN BOTH THE YEARS UNDER CONSIDERATION. 3.1 ON APPEAL, THE CIT(A) PARTLY ALLOWED BOTH THE APPEALS. 3.2 IN THE CAS E OF AGRI GOLD FOODS AND FARM PRODUCTS LTD., THE AO ASSESSED THE INCOME OF THE ASSESSEE AT RS. 48,06,64,890/ - AS AGAINST THE RETURNED INCOME AT RS. NIL, BY ESTIMATING THE INCOME AT RS. 15% OF GROSS RECEIPTS. 3.3 ON APPEAL, THE CIT(A) PARTLY ALLOWED THE AP PEAL OF THE ASSESSEE. 4. SINCE, THERE IS NO REPRESENTATION FROM THE ASSESSEE AND THE FINDINGS OF THE CIT(A ) ARE UNCONTROVERTED, WE UPHOLD THE ORDER S OF CIT ( A ) IN ALL THE APPEALS UNDER CONSIDERATION AND DISMISS THE APPEAL S OF THE ASSESSEE S . 3 ITA NO S . 1669 TO 1671 /HYD/201 8 AGRI GOLD FARM ESTATES INDIA PVT. LTD. AND OTHERS 5 . IN THE RESULT, THE APPEAL S FILED BY THE ASSESSEE S ARE DISMISSED. PRONOUNCED IN THE OPEN COURT ON 8 TH FEBRUARY , 201 9. SD/ - S D/ - ( P. MADHAVI DEVI ) (S . RIFAUR RAHMAN ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 8 TH FEBRUARY, 2 01 9. KV COPY TO: - 1) M/S AGRI GOLD FARM ESTATES INDIA PVT. LTD. AND M/S AGRI GOLD FOODS AND FARM PRODUCTS LTD., C/O M.V. PRASAD, CA, D. NO. 7 - 13, 4 TH LINE, SIDDARTHA NAGAR, VIJAYAWADA - 520010 2) IT O , WARD 12 (3), HYD. . 3) CIT(A) 1 2 , HYDERABAD. 4) PR. CIT (CENTRAL) , HYD . 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE