Asst. CIT, Circle-3, Pune V. Shri Pannalal Raghunath Kalantri, Latur

ITA 2095/PUN/2012

• Counselvise Citation: 209524514 RSA 2012
• Duration Of Justice: 10 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-09-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 29-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHRIRAJEEV JAIN
• Keywords: Business income; Salary income
• Section: 80C

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO.2095/PUN/2012 (ASST. YEAR: 2009-10) ASST. COMMISSIONER OF INCOME TAX, CIRCLE 3, NANDED APPELLANT VS. SHRI PANNALALRAGHUNATHKALANTRI, C/O AMBIKADALL MILL, NANDED ROAD, LATUR 413512 PAN:ADYPK3838R RESPONDENT APPELLANT BY : SHRIRAJEEV JAIN RESPONDENT BY : NONE DATE OF HEARING : 19-09-2013 DATE OF PRONOUNCEMENT : 19-09-2013 ORDER PER R.S. PADVEKAR, JM: THIS APPEAL IS FILED BY THEREVENUE CHALLENGING THE IMPUGNED ORDER OF THE LD. CIT(A), AURANGABAD, DATED 28-08-2012 FOR THE A.Y. 2009- 10.THE REVENUE HAS TAKEN THE FOLLOWING GROUNDS: I) IN THIS CASE THE CIT(A) , AURANGABAD HAS ERRED I N IGNORING THE COMPUTATION MADE BY THE A.O., CPC, BANGALORE, O N THE BASIS OF RETURN UPLOADED BY THE ASSESSEE. HE IS IMPRESSED B Y THE WRONG SUBMISSIONS MADE BY THE ASSESSEE DURING THE COURSE OF APPEAL. II) WHETHER CPC, BANGALORE HAS INCORRECTLY COMPUTED THE TOTAL INCOME, DESPITE THE FACT THAT, THE ASSESSEE HAS COM MITTED MISTAKES IN FURNISHING THE RETURN TO THE CPC, BANGALORE. 2 III) THE ORDER OF THE CPC, BANGALORE BE RESTORED AN D THE CIT(A), AURANGABAD BE VACATED. 2. THE FACTS PERTAINING TO THE CASE ARE AS UNDER: THE ASSESSEE IS AN INDIVIDUAL AND HE HAS FILED E-R ETURN ON 09-10- 2009 FOR THE A.Y. 2009-10 DECLARING SALARY INCOME O F RS.1,44,000/- AND AFTER CLAIMING AN AMOUNT OF RS.99,000/-TOWARDS DEDU CTION U/S. 80C OF THE ACT, THE NET INCOME HAS BEEN SHOWN AT RS.45,000 /- AND BUSINESS LOSS HAS BEEN CLAIMED SEPARATELY AT (-)RS.3,59,075/-WHIC H ALSO INCLUDES NON- SPECULATIVE BUSINESS LOSS OF RS.2,78,713/- AND SPEC ULATIVE BUSINESS LOSS OF RS.80,362/-. 3. THE ASSESSEE HAS RECEIVED AN INTIMATION FROM THE CENTRAL PROCESSING CENTRE, BANGALORE U/S.143(1) OF THE ACT, INTIMATING ASSESSED INCOME OF THE ASSESSEE AT RS.15,16,430/- AS AGAINST RS.45,000/-DECLARED BY THE ASSESSEE AND LOSS OF THE CURRENT YEAR WAS TO BE CARRIED FORWARD AT RS.80,362/- AS AGAINST RS.3,59,075/- CLAIMED BY THE ASSESSEE. THE ASSESSEE HAS FILED THE APPEAL BEFORE THE LD. CIT(A) . THE LD.CIT(A) HAS REPRODUCED THE INTIMATION IN HIS ORDER RECEIVED FRO M THE CPC U/S.143(1) OF THE ACT. THE CPC HAS INCLUDED RS.14,69,315/- AS AN INCOME UNDER THE HEAD INCOME FROM BUSINESS OR PROFESSION WHEN THE ASSESSEE HAS SHOWN NIL INCOME IN THE SAID HEAD. THE ASSESSEE HA S CONTENDED THAT WITHOUT ANY REASON,CPC HAS MADE INCORRECT ADJUSTMEN TS TO THE BUSINESS LOSS DECLARED BY THE ASSESSEE BY ASSESSING THE SAME AT RS.14,69,315/-. THE ASSESSEE HAS FILED COMPUTATION OF INCOME AND AL SO ACKNOWLEDGEMENT OF E-RETURNTO DEMONSTRATE THE CLAIM OF THE ASSESSEE . THE ASSESSEE HAS 3 ALSO FILED THE DETAILS OF BUSINESS INCOME DECLARING THE RETURN OF INCOME. AFTER EXAMINING THE EVIDENCE, THE LD. CIT(A)HAS DIR ECTED THE ASSESSING OFFICER TO ASSESS THE INCOME OF THE ASSESSEE AT RS. 45,000/-AND LOSS OF THE CURRENT YEAR IS TO BE CARRIED FORWARD AS PER LAW AT RS.3,59,075/- AS CLAIMED BY THE ASSESSEE IN THE RETURN OF INCOME AND DIRECTED THE ASSESSING OFFICER TO ASSESS THE INCOME ACCORDINGLY. 4. WE HAVE HEARD THE LD. DR. WE FIND NO MERIT IN T HE APPEAL FILED BY THE REVENUE. ADMITTEDLY, THE LD. CIT(A) HAS DIRECT ED THE ASSESSING OFFICER TO ASSESS THE INCOME AS PER THE RETURN OF I NCOME FILED BY THE ASSESSEE. THERE WAS GLARING MISTAKE WHILE PROCESSI NG THE RETURN AT CPC AT BANGALORE. NOTHING HAS BEEN DEMONSTRATED BY THE REVENUE BEFORE US TO SHOW CONTRARY TO THE FINDINGS OF THE LD. CIT(A). WE ACCORDINGLY, DISMISS ALL THE GROUNDS TAKEN BY THE REVENUE. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUEIS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 19 TH DAY OF SEPTEMBER, 2013. SD/- SD/- (G.S. PANNU) (R.S. PADVEKAR) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED 19 TH SEPTEMBER, 2013 GCVSR COPY TO:- 4 1) DEPARTMENT, 2) ASSESSEE 3) THE CIT(A), AURANGABAD 4) THE CIT,AURANGABAD 5) THE DR, A BENCH, I.T.A.T., PUNE 6) GUARD FILE //TRUE COPY// BY ORDER SR. PRIVATE SECRETARY ITAT PUNE BENCHES, PUNE