M/s. Madhav Cotton Ginning & Pressing Factory, Botad V. The Asstt. Commissioner of Income Tax, Circel-2, Bhavnagar

ITA 200/AHD/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5862 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 24-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S N DIVATIA
• Keywords: Proportionate interest
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA NO. 200/AHD/2017 (ASSESSMENT YEAR : 2012-13) M/S. MADHAV COTTON GINNING AND PRESSING FACTORY, AT HADAADA, BOTAD, DIST. BHAVNAGAR-364710 APPELLANT VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 2, AYKAR BHAVAN, NR. JASHONATH CHOWK, NAKUBAUG, BHAVNAGAR, GUJARAT RESP ONDENT PAN: AADFM7111K / BY ASSESSEE : SHRI S. N. DIVATIA, A.R. / BY REVENUE : SHRI PRASOON KABRA, SR. D.R. /DATE OF HEARING : 15.03.2018 /DATE OF PRONOUNCEMENT : 23 .03.2018 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE CIT(A)-6, AHMEDABADS EX PARTE ORDER DATED 27.10.20 16, IN CASE NO. CIT(A) - 6/96/15-16, IN PROCEEDINGS U/S. 143(3) OF THE INCOM E TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT EMERGES AT THE OUTSET THAT THE CIT(A) HAS PAS SED HIS LOWER APPELLATE ORDER EX PARTE THEREBY AFFIRMING ASSESSING OFFICERS ACTI ON INTER ALIA DISALLOWING/ADDING ITA NO. 200/AHD/17 [M/S. MADHAV COTTON GINNING & PRESSING FACTORY VS. ACIT ] A.Y. 2012-13 - 2 - PROPORTIONATE INTEREST OF RS.2,16,94,080/- PAID TO BANK ON NOTIONAL BASIS AFTER TAKING INTO ACCOUNT THE RELEVANT FIGURES IN TURNOVER AS WE LL AS DAILY CASH BALANCE; RESPECTIVELY AS MADE IN ASSESSMENT ORDER DATED 25.0 3.2015. MR. DIVATIA SUBMITS DURING THE COURSE OF HEARING THAT THE ASSESSEE HAS ALWAYS BEEN READY AND WILLING TO APPEAR DURING THE COURSE OF LOWER APPELLATE PROCEED INGS. HE THEN TAKES US TO CIT(A)S ORDER PARA 4 INDICATING RELEVANT NOTICES O F HEARING DATED 02.06.2016, 21.07.2016, 22.08.2016 & 21.09.2016 FOR HEARING ON 14.06.2016, 16.08.2016, 14.09.2016 AND 06.10.2016; RESPECTIVELY. HIS CASE IS THAT THERE IS NO MENTION IN THE CIT(A)S OBSERVATIONS THAT THE SAID NOTICES STOOD E FFECTIVELY SERVED ON ASSESSEE. ALL THESE PLEADINGS HAVE GONE UNREBUTTED FROM THE R EVENUE SIDE. WE THUS DEEM IT APPROPRIATE TO RESTORE THE INSTANT APPEAL BACK TO T HE CIT(A) FOR AFRESH HEARING AS PER LAW. IT IS EXPECTED THAT LEARNED CIT(A) SHALL UNDE RTAKE ALL EFFORTS TO DISPOSE OF THE LOWER APPEAL AFTER AFFORDING THREE EFFECTIVE OPPORT UNITIES OF HEARING TO THE ASSESSEE. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. [PRONOUNCED IN THE OPEN COURT ON THIS THE 23 RD DAY OF MARCH, 2018.] SD/- SD/- ( AMARJIT SINGH ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 23/03/2018 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )* + ,--. . /0 / DR, ITAT, AHMEDABAD 1 + 23 / GUARD FILE. BY ORDER / . // . /0