Sri PVV Durga Prasad, Kakinada V. The DCIT, Circle-1, Kakinada, Kakinada

ITA 212/VIZ/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2045 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 3 year(s) 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 18-11-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 01-06-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G GURUSWAMY
• Keywords: Revised return
• Section: 143(3); 263

Judgement Text

ITA NO.212/VIZAG/2012 P.V.V. DURGA PRASAD, KAKINADA 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . , $ BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ./I.T.A.NO.212/VIZAG/2012 ( / ASSESSMENT YEAR: 2007-08) SRI P.V.V. DURGA PRASAD KAKINADA VS. DCIT, CIRCLE - 1 KAKINADA [PAN: AHQPP8197A ] ( % / APPELLANT) ( &'% / RESPONDENT) / APPELLANT BY : SHRI G.V.N. HARI, AR / RESPONDENT BY : SHRI G. GURUSWAMY, DR / DATE OF HEARING : 05.01.2016 / DATE OF PRONOUNCEMENT : 19.02.2016 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF CIT, RAJAHMUNDRY DATED 20.3.2012 FOR THE ASSESSMENT YEAR 2007-08. THERE IS A DELAY OF 3 DAYS IN FILING THIS APPEAL. IT IS SUBMITTED BY THE LD. COUNSEL FOR THE ASSESSEE THAT THE DELAY NEITHER INT ENTIONAL NOR WANTONLY AND TO SUPPORT HIS ARGUMENTS, HE FILED AN AFFIDAVIT ALSO. THE LD. D.R. ITA NO.212/VIZAG/2012 P.V.V. DURGA PRASAD, KAKINADA 2 HAS NOT RAISED ANY OBJECTION. WE FIND THAT THERE IS A SUFFICIENT CAUSE FOR FILING THE APPEAL WITH 3 DAYS DELAY. THEREFORE, TH E DELAY IS CONDONED AND APPEAL IS ADMITTED FOR HEARING. 2. FACTS ARE IN BRIEF THAT THE ASSESSEE IS IN THE B USINESS OF REWINDING OF ELECTRICAL MOTORS AND GENERATORS. HE HAS FILED HIS RETURN OF INCOME BY DECLARING TOTAL INCOME OF ` .25,15,721/-. THEREAFTER, THE ASSESSEE HAS FILED REVISED RETURN OF INCOME BY DECLARING AT ` .27,31,396/-. THEREAFTER THE A.O. HAS COMPLETED THE ASSESSMENT U/S 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED AS 'THE ACT'), BY DET ERMINING TOTAL INCOME AT ` .33,05,764/-. 3. THE CIT, WHILE EXERCISING THE POWER U/S 263 OF T HE ACT, HE HAS FOUND THAT THE ORDER PASSED BY THE A.O. IS ERRONEOU S AND PREJUDICIAL TO THE INTEREST OF THE REVENUE ON ACCOUNT OF NON-EXAMI NATION BY A.O., IN RESPECT OF MATERIAL PURCHASE OF ` .1,21,98,335/-, NON-EXAMINATION OF SECURED AND UNSECURED LOANS AND UTILIZATION OF LOAN S, THE IDENTITY, CREDITWORTHINESS OF THE CREDITORS, GENUINENESS OF T HE TRANSACTIONS AND CALLED THE EXPLANATIONS OF THE ASSESSEE. THE ASSES SEE HAS FAILED TO SUBSTANTIATE HIS CASE BEFORE THE LD. COMMISSIONER. THEREFORE, THE LD. COMMISSIONER SET ASIDE THE ORDER PASSED BY THE A.O. AND DIRECTED THE ITA NO.212/VIZAG/2012 P.V.V. DURGA PRASAD, KAKINADA 3 A.O. TO EXAMINE THE CASE OF THE ASSESSEE AFRESH IN VIEW OF HIS DIRECTIONS AFTER GIVING REASONABLE OPPORTUNITY. 4. WE HAVE HEARD BOTH THE PARTIES, PERUSED THE MATER IALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHOR ITIES BELOW. WE FIND THAT THE ASSESSING OFFICER HAS NOT EXAMINED ANY OF THE ISSUES POINTED OUT BY THE LD. COMMISSIONER. THE ASSESSING OFFICER SIMPLY ACCEPTED THE RETURN FILED BY THE ASSESSEE WITHOUT EXAMINING THE BOOKS OF ACCOUNTS AND OTHER RELEVANT DETAILS. THUS, WE ARE OF THE OP INION THAT THE ORDER PASSED BY THE A.O. IS ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF THE REVENUE AND NO INTERFERENCE IS CALLED, TO DISTURB T HE ORDER PASSED BY THE COMMISSIONER. THUS, THIS APPEAL FILED BY THE ASSES SEE IS DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 19 TH FEB16. SD/- SD/- ( . ) ( . ) (G. MANJUNATHA) (V. DURGA RAO) /ACCOUNTANT MEMBER /JUDICIAL MEMBER ! /VISAKHAPATNAM: % /DATED : 19.02.2016 VG/SPS ITA NO.212/VIZAG/2012 P.V.V. DURGA PRASAD, KAKINADA 4 '! (! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT SHRI P.V.V. DURGA PRASAD, NO.43- 1-27, OPP. BOAT CLUB, PITHAPURAM ROAD, KAKINADA, EAST GODAVARI DISTRICT. 2. / THE RESPONDENT THE DCIT, CIRCLE-1, KAKINADA 3. ) / THE CIT, RAJAHMUNDRY 4. THE PRINCIPAL CIT-2, VISAKHAPATNAM 5. ) ( ) / THE CIT(A), RAJAHMUNDRY 6. ! , , , , ! / DR, ITAT, VISAKHAPATNAM 7 . / GUARD FILE / BY ORDER // TRUE COPY // /0 , (SR.PRIVATE SECRETARY) , , ! / ITAT, VISAKHAPATNAM