Synergies Castings Ltd., Hyd, Hyderabad V. DCIT, Cir-3(3), Hyd, Hyderabad

ITA 178/HYD/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6559 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-07-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 12-07-2018
• Assessment Year: 2009-2010
• Appeal Filed On: 17-02-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: N SWAPNA
• Keywords: Bad and doubtful debts; Revised return
• Section: 143(3)

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI DUVURU R.L. REDDY, JUDICIAL MEMBER ITA NO. 178/HYD/2016 ASSESSMENT YEAR: 2009-10 M/S SYNERGIES CASTINGS LTD., HYDERABAD. PAN AAICS7410H VS. DY. COMMISSIONER OF INCOME- TAX, CIRCLE 3(3), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SMT. N. SWAPNA DATE OF HEARING : 12-07-2018 DATE OF PRONOUNCEMENT : 13-07-2018 O R D E R PER DUVURU R.L. REDDY, J.M.: THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF DATED 09/12/2015 OF CIT(A) 3, HYDERABAD, FOR AY 2 009-10. 2. ON PERUSAL OF RECORD, WE FIND THAT THIS CASE WAS ADJOURNED ON NUMBER OF OCCASIONS FROM 11/05/2016 TILL 04/04/2018 DUE TO SOME OR THE OTHER REASON, PARTICULARLY, AT THE REQUEST OF T HE LD. AR OF THE ASSESSEE. WHEN THE CASE IS POSTED FOR HEARING TODAY I.E. ON 12/07/2018, NONE APPEARED ON BEHALF OF THE ASSESSE E NOR THERE IS A REQUEST FOR ADJOURNMENT OF THE CASE. IN THESE CIRCU MSTANCES, WE ARE OF THE VIEW THAT THE ASSESSEE IS NOT INTERESTED IN PROSECUTING ITS APPEAL. IT HAS BEEN HELD BY THE HONBLE SUPR EME COURT IN THE CASE OF B.N. BHTTACHARGEE & ANR., 118 ITR 46 1 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 DISMI SS THE APPEAL FOR NON-PROSECUTION AS HELD BY HONBLE HIGH COURT OF MU MBAI IN THE CASE OF M/S CHEMIPOL VS. UNION OF INDIA IN EXCISE APPEAL NO. 62 OF 2009. 2 ITA NO. 178 /HYD/2016 SYNERGIES CASTINGS LTD., HYD. THEREFORE, RESPECTFULLY FOLLOWING THE DECISION OF T HE TRIBUNAL IN THE CASE OF MULTIPLAN (INDIA) LTD., (38 ITD 320) AND MA DHYA PRADESH HIGH COURT IN LATE TUKOJIRAO HOLKAR (223 ITR 480), WE DI SMISS THIS APPEAL OF THE ASSESSEE FOR WANT OF PROSECUTION. 3. EVEN ON MERITS, IT IS OBSERVED THAT THE ASSESS EE COMPANY, ENGAGED IN THE BUSINESS OF MANUFACTURING OF ALUMINU M ALLOY WHEELS FOR CARS, TRUCKS, AND SUVS ETC., FILED ITS RETURN OF INCOME FOR THE AY 2009-10 DECLARING A LOSS OF RS. 5,76,05,471/-. SUBS EQUENTLY, THE ASSESSEE FILED A REVISED RETURN DECLARING A TOTAL L OSS OF RS. 8,18,59,311/-. THE AO COMPLETED THE SCRUTINY ASSESS MENT U/S 143(3) OF THE ACT ON 14/03/2013 REDUCING THE LOSS TO RS. 5 ,12,64,212/- BY MAKING THE FOLLOWING ADDITIONS: 1. EXPENDITURE ON MOULDS OF RS. 1,30,18,475/- 2. BAD DEBTS WRITTEN OFF RS. 1,10,41,600/- 3. WELFARE DUES OF RS. 15,31,274/-. 3.1 WHEN THE ASSESSEE PREFERRED AN APPEAL BEFORE TH E CIT(A), THE CIT(A) DELETED ADDITIONS OF RS. 1,10,41,600/- ON AC COUNT OF BAD DEBTS WRITTEN OFF AND WELFARE OF DUES OF RS. 15,31,274/- AND SUSTAINED THE ADDITION OF RS. 1,30,18,475/- ON ACCOUNT OF EXPENDI TURE ON MOULDS. 4. SINCE, THERE IS NO REPRESENTATION FROM THE ASSESSEE AND THE FINDINGS OF THE CIT(A) ARE UNCONTROVERTED, WE UPHO LD THE ORDER OF CIT(A) AND DISMISS THE APPEAL OF THE ASSESSEE. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 13 TH JULY, 2018. SD/- SD/- (INTURI RAMA RAO) (DUVURI R.L. REDDY) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 13 TH JULY, 2018. KV 3 ITA NO. 178 /HYD/2016 SYNERGIES CASTINGS LTD., HYD. COPY TO:- 1) M/S SYNERGIES CASTINGS LTD., C/O G.S. MADH AVA RAO & CO., CA, F5 & 7, HYDERABAD BUSINESS CENTRE, HYDE RGUDA HYDERABAD 500 029 2) DCIT, CIRCLE 3(3), HYD. 3) CIT(A) 3, HYDERABAD. 4) PR. CIT 3, HYD. 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., H YDERABAD. 6) GUARD FILE