CONCORDE MOTORS (INDIA) LTD, MUMBAI V. ACIT (OSD) 2(1), MUMBAI

ITA 235/MUM/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1750 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 10 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2006-2007
• Appeal Filed On: 07-01-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A RAMCHANDRAN
• Assessee Lawyers: F V IR ANI SR
• Keywords: Additional evidence; Bad and doubtful debts
• Section: 6

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI , , BEFORE HONBLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR, ( AM ) I.T.A. NO . 235 / MUM/20 1 3 (ASSESSMENT YEAR : 2006 - 07 ) CONCORDE MOTORS (INDIA) LIMITED, 3 RD FLOOR, NANAVATI MAHALAYA, 18, HOMI MODY STREET, HUTATMA CHOWK MUMBAI - 400001 VS. ASSTT. COMMISSIONER OF INCOME TAX, (OSD) - 2(1), ( APPELLANT ) .. ( RESPONDENT ) PAN NO. : AAAC MO154A APPELLANT BY: SHRI F V IR ANI, SR. STANDING COUNSEL. RESPONDENT BY SHRI A RAMCHANDRAN DATE OF HEARING : 30.11.2016 / DATE OF PRONOUNCEMENT: 05. 12. 2016 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER : THIS IS AN APPEAL FILED BY THE ASSESSEE AND IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A) - 4 , MUMBAI D A T ED 4 . 10 .201 2 PERTAINING TO A.Y. 20 06 - 07. 2. THE ISSUE RAISED GROUND NO.1 IS WITH REGARD TO UPHOLDING THE DISALLOWANCE OF BAD DEBTS WRITTEN OFF OF RS.30,57,413/ - BY CIT(A) . 3. AT THE OUTSET , SHRI F V IRA NI, SR. STANDING COUNSEL DREW OUR ATTENTION TO THE APPLICATION DATED 29.11.2006 WHEREIN THE BENCH HAS BEEN REQUESTED TO ADMIT THE ADDITIONAL SUPPORTING DOCUMENTARY EVIDENCES WHICH ARE NECESSARY AND PERTINENT FOR THE PURPOSE OF ADJUDICATING THE ISSUE INVOLV ED IN THE GROUND NO.1 RAISED BY THE ASSESSEE. ITA NO . 235 / M/ 201 3 2 4. AFTER HEARING BOTH THE PARTIES ON THE ISSUE OF ADMISSION OF ADDITIONAL EVIDENCE S , WE FIND THAT THE ADDITIONAL EVIDENCE AS FILED BY THE ASSESSEE HAS SUBSTANTIAL BEARINGS ON THE ISSUE INVOLVED AND RAISED BY THE ASSESSEE. WE, THEREFORE, IN THE INTEREST OF JUSTICE INCLINED TO ADMIT THE SAME. WE FURTHER FIND THAT THESE EVIDENCES ARE REQUIRED TO BE EXAMINED AND EVALUATED AT THE END OF THE AO. W E , T HEREFORE, SET ASIDE THE ORDER OF THE LD.CIT(A) AND RESTORE THE ISSUE TO THE FILE OF THE AO FOR APPRECIATION OF EVIDENCES AS MAY BE FILED BY THE ASSESSEE AND ADJUDICATION OF THE ISSUE DENOVO AS PER FACTS AND LAW AFTER ALLOWING REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE . 5 . THE 2 ND GROUND RAISED BY THE ASSESSEE IS IN RESPECT OF UPHOLDING THE LEVY OF INTEREST UNDER SECTION 234C OF THE ACT BY CIT(A) WITHOUT CONSIDERING T HE COMPUTATION FURNISHED BY THE ASSESSEE EVIDENCING THE FACT THAT INTEREST LEVIED U/S 234C WAS NOT APPLICABLE. 6. THE LD. SR. STANDING COUNSEL SU BMITTED BEFORE US THAT THERE WAS NO SHORT FALL IN THE PAYMENT OF ADVANCE TAX ON THE BASIS OF ORIGINAL RETURN OF INCOME FILED BY THE ASSESSEE AND THEREFORE, THE INTEREST CHARGED UNDER SECTION 234C OF THE ACT COULD NOT BE CHARGED AND LEVIED 7 . AFTER HEARIN G BOTH THE PARTIES AND PERUSING THE IMPUGNED ORDERS OF AUTHORITIES BELOW AND OTHER DOCUMENTS FILED BY THE ASSESSEE BEFORE THE LOWER AUTHORITIES , WE FIND THAT THE ASSESSEE HAS FULLY PAID THE ADVANCE TAX ON THE BASIS OF THE RETURNED INCOME AS PER THE INCOME TAX RETURN AS PER THE ITA NO . 235 / M/ 201 3 3 PROVISIONS OF THE ACT. WE, THEREFORE , FIND MERIT IN THE SUBMISSIONS OF THE LD. SR. STANDING COUNSEL QUA NON CHARGING OF INTEREST U/S 234C OF THE ACT AND AC C ORDINGLY RESTORE THE MATTER TO THE FILE OF AO WITH A DIRECT ION TO THE AO TO EX AMINE THE ISSUE ON THE BASIS OF FACTS OF THE CASE AND DECIDE THE ISSUE ACCORDINGLY. THIS GROUND IS ALLOWED FOR STATISTICAL PURPOSES. 8 . IN THE RESULT , THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. THE ABOVE ORDER WAS PRONOUNCED IN THE O PEN COURT ON 5TH DEC,201 6 . SD SD ( JOGINDER SINGH ) ( RAJESH KUMAR ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI: 5TH DEC,2016 . SRL , SR. PS COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - CONCERNED 4. CIT CONCERNED 5. 6. DR, ITAT, MUMBAI CONCERNED GUARD FILE. BY ORDER, TRUE COPY (ASSTT. REGISTRAR) ITAT, MUM BAI