Majestic International, CHENNAI V. ACIT, CHENNAI

ITA 2435/CHNY/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 7745 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-02-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 22-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SURPIYO PAL
• Assessee Lawyers: T BANUSEKAR

Judgement Text

, .. , IN THE INCOME TAX APPELLATE TRIBUNAL , SMC A BENCH, CHENNAI . , BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ I.T.A.NO.2435/MDS/2016 ( / ASSESSMENT YEAR: 2008-09) M/S. MAJESTIC INTERNATIONAL, PLOT NO.65&66, VYSARPADI INDUSTRIAL ESTATE, E.H. ROAD, CHENNAI 600 039 VS THE ASSTT. COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE 5, CHENNAI PAN: AAJFM5183D ( / APPELLANT) ( / RESPONDENT) / APPELLANT BY : SHRI T. BANUSEKAR, CA, /RESPONDENT BY : SHRI SURPIYO PAL, JCIT ! /DATE OF HEARING : 15.02.2017 '# ! /DATE OF PRONOUNCEMENT : 16 . 02.2017 / O R D E R THIS APPEAL IS FILED BY THE ASSESSEE AGGRIEVED BY T HE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-5, CHENNAI IN ITA NO.148/CIT(A)- 5/13-14 DATED 27.05.2016 FOR THE ASSESSMENT YEAR 2008-09 PASSED U/S.143(3) R.W.S 250(6) OF THE ACT. 2. THE ASSESSEE HAS RAISED SEVEN GROUNDS IN HIS APP EAL WITH RESPECT TO TWO ISSUES REGARDING ARITHMETIC COMPUTATIONS. 3. AT THE OUTSET, THE LD. AR SUBMITTED THAT THE LD. AO ERRED WITH RESPECT TO ARITHMETIC COMPUTATION OF OPENING STOCK, CLOSING ST OCK, WORK- IN- PROGRESS, 2 I.T.A. NO.2435/MDS/2016 ETC., DUE TO WHICH THE ADDITIONS WERE MADE AND SUST AINED BY THE LD. CIT(A). HE FURTHER PRAYED THAT ONE MORE OPPORTUNITY MAY BE PROVIDED TO THE ASSESSEE SO THAT THE ASSESSEE WILL BE IN A POSITION TO VIVID LY EXPLAIN THE ERROR IN THE ARITHMETIC COMPUTATION BEFORE THE LD. AO AND ACCORD INGLY RECTIFY THE SAME. THE LD. DR COULD NOT CONTROVERT TO THE SUBMISSION O F THE LD. AO BECAUSE PRIMA FACIE SOME MISTAKE APPEARED TO BE IN THE ARIT HMETIC CALCULATIONS. 4. AFTER HEARING BOTH SIDES, I AM OF THE CONSIDERED VIEW THAT THE MATTER REQUIRES TO BE RE-EXAMINED BY THE LD. AO AFRESH. T HEREFORE, IN THE INTEREST OF JUSTICE, I HEREBY REMIT THE ENTIRE MATTER BACK TO T HE FILE OF AO FOR DE-NOVA CONSIDERATION. 5. IN THE RESULT APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON THE 16 TH FEBRUARY, 2017. SD/- ( . ) (A. MOHAN ALANKAMONY) / ACCOUNTANT MEMBER $% /CHENNAI, &' /DATED 16 TH FEBRUARY, 2017 JR. ' )* +* /COPY TO: 1. APPELLANT 2. RESPONDENT 3. , ( )/CIT(A) 4. , /CIT 5. *-. / /DR 6. .0 /GF.