Extreme Projects Private Limited , Hyderabad V. Income Tax Officer, Ward-17(2), Hyderabad

ITA 2228/Hyd/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 4517 (ITAT-HYDERABAD)
• Duration Of Justice: 2 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-02-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 01-02-2019
• Assessment Year: 2015-2016
• Appeal Filed On: 28-11-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 201; 20

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE S MT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S . RIFAUR RAHMAN , ACCOUNTANT MEMBER ITA NO. 2228 /H YD/201 8 ASSESSMENT YEAR: 20 1 5 - 1 6 EXTREME PROJECTS PVT. LTD., HYDERABAD. PAN A A BCE 2760P VS. INCOME - TAX OFFICER, WARD 17(2), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : S MT. N. SWAPNA 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 IS APPEAL FILED BY ASSESSEE IS DIRECTED AGAINST THE ORDER O F CIT(A) 1 2 , HYDERABAD, DATED 1 6/02/2018 FOR AY 2013 - 14 . 2. WHEN TH IS APPEAL W AS 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 NOTICE 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., 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, COU RT/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 2 ITA NO . 2228 /HYD/201 8 EXTREME PROJECTS PVT. LTD., HYD. 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 COMPANY FILED ITS RETURN OF INCO ME FOR THE AY 201 5 - 1 6 ON 23 / 01 /201 6 DECLARING TOTAL INCOME AT RS. 24,710 / - . THE CASE WAS TAKEN UP FOR SCRUTINY UNDER CASS TO VERIFY THE APPLICABILITY OF SECTION 5 6(2)(VIIB) AND MISMATCH OF SALES TURNOVER REPORTED IN AUDIT REPORT AND ITS. THE AO COMPLETED THE ASSESSMENT U/S 143(3) VIDE HIS ORDER DATED 29/12/2017 WITH ASSESSED INCOME OF RS. 1,41,07,033/ - . WHILE DOING SO, THE TOTAL PREMIUM COLLECTED OF RS. 1,40,82,320 / - AND CREDITED TO THE PREMIUM ACCOUNT WAS TREATED AS INCOME FROM OTHER SOURCES OF THE COMPANY AS PER THE PROVISIONS OF SECTION 56(2)(VIIB) OF THE ACT. 3.1 ON APPEAL, THE CIT(A) DISMISSED THE APPEAL OF THE ASSESSEE BY OBSERVING THAT THERE WAS NO COMPLIAN CE FROM THE ASSESSEE AND ALSO IN VIEW OF THE FACT THAT THE GROUNDS OF APPEAL WERE NOT SUBSTANTIATED BY ANY PROPER STATEMENT OR EVIDENCE. 4. SINCE, THERE IS NO REPRESENTATION FROM THE ASSESSEE AND THE FINDINGS OF THE CIT(A ) ARE UNCONTROVERTED, WE UPHOLD T HE 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 8 TH FEBRUARY , 201 9. SD/ - SD/ - ( P. MADHAVI DEVI ) (S . RIFAUR RAHMAN ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 8 TH FEBRUARY, 2 01 9. KV 3 ITA NO . 2228 /HYD/201 8 EXTREME PROJECTS PVT. LTD., HYD. COPY TO: - 1) M/S EXTREME PROJECTS PVT. LTD., FLAT NO. 32, 3 RD FLOOR, PANCOM CHAMBERS , RAJBHAVAN ROAD, SOMAJIGUDA, HYD 82. 2) I T O , WARD 17(2), HYD. . 3) CIT(A) 5 , HYDERABAD. 4) PR. CIT 5, HYD . 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE