JOIE DE VIVRE RESORTS AND PLANTATIONS P.LTD, MUMBAI V. PR CIT 6, MUMBAI

ITA 2437/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1701 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Next Hearing Date: 02-11-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 29-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ALOK JOHRI
• Keywords: Accommodation entries
• Section: 143(3); 147; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH J, MUMBAI BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER / ITA NO.2437/M/2015 ( / ASSESSMENT YEAR: 2009-10) M/S. JOIE DE VIVRE RESORTS AND PLANTATIONS PVT. LTD., 197, BHAGESHWAR BHAVAN, 2 ND FLOOR, ROOM NO.28A, TH KATARIA MARG, MAHIM, MUMBAI 400 016 PAN: AAACJ0243K / VS. PRINCIPAL COMMISSIONER OF INCOME TAX-6, ROOM NO.501, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020 ( / APPELLANT) ( /RESPONDENT) PRESENT FOR: ASSESSEE BY : NONE REVENUE BY : SHRI ALOK JOHRI, D.R. / DATE OF HEARING : 02.11.2016 / DATE OF PRONOUNCEMENT : 30.11.2016 / O R D E R PER C.N. PRASAD, JUDICIAL MEMBER: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE O RDER OF THE COMMISSIONER OF INCOME TAX-6, MUMBAI (HEREINAFTER R EFERRED TO AS THE CIT) DATED 23.03.2015 FOR THE ASSESSMENT YEAR 2009-10 PA SSED UNDER SECTION 263 OF THE ACT. THE CASE WAS POSTED FOR SEVERAL TIMES FRO M TIME TO TIME. THE LD. A.R. TOOK SEVERAL ADJOURNMENTS AND AT THE LAST OCCA SION ON 14.06.2016 A PAPER BOOK WAS ALSO FILED AND SOUGHT FOR ADJOURNMENT. SU BSEQUENTLY, THE MATTER WAS POSTED ON 19.07.2016, 27.06.2016 AND 07.09.2016 AND NOBODY APPEARED IN ANY OF THESE OCCASIONS. A NOTICE WAS ISSUED BY THE REG ISTRY AND SERVED ON THE ITA NO.2437/M/2015 M/S. JOIE DE VIVRE RESORTS AND PLANTATIONS PVT. LTD . 2 ASSESSEE POSTING THE CASE FOR HEARING ON 02.11.2016 . WHEN THE MATTER WAS CALLED FOR HEARING ON 02.11.2016, NONE APPEARED ON BEHALF OF THE ASSESSEE. SINCE THE NOTICE WAS SERVED AND ASSESSEE IS NOT INT ERESTED IN PURSUING THE MATTER WE DISPOSE OF THE APPEAL ON HEARING THE LD. D.R. ON MERITS. 2. THE LD. D.R. SUBMITS THAT IN THIS CASE ASSESSMEN T WAS COMPLETED UNDER SECTION 143(3) READ WITH SECTION 147 ON 25.03.2013 FOR THE ASSESSMENT YEAR UNDER CONSIDERATION I.E. 2009-10. THE LD. D.R. SUB MITS THAT THE LD. CIT HAS ISSUED NOTICE UNDER SECTION 263 FOR REOPENING THE A SSESSMENT AS THE ASSESSMENT ORDER PASSED UNDER SECTION 143(3) WAS ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE FOR THE REASON THAT THE ASSESSING OFFICE R HAS FAILED TO MAKE ENQUIRIES IN RESPECT OF THE ACCOMMODATION ENTRIES O BTAINED BY THE ASSESSEE IN RESPECT OF ITS SHARE APPLICATION MONEY, SHARE CAPIT AL AT A PREMIUM AS THE ASSESSEE HAS NOT PROVED THE GENUINENESS OF THE SUBS CRIPTION OF SHARE CAPITAL ISSUED AT PREMIUM AND CREDITWORTHINESS OF THE SUBSC RIBERS. THEREFORE, THE LD. D.R. SUBMITS THAT SINCE THE ASSESSING OFFICER HAS N OT MADE ANY ENQUIRIES AND COMPLETED THE ASSESSMENT WHICH RESULTED IN ASSESSME NT BEING ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE, THE LD. D.R . VEHEMENTLY SUPPORTING THE ORDERS OF THE LD. CIT SUBMITS THAT AS THE ASSESSING OFFICER DID NOT MAKE RELEVANT AND MEANINGFUL ENQUIRIES AS WARRANTED BY T HE FACTS AND CIRCUMSTANCES OF THE CASE AND ON ACCOUNT OF HIS ACTING IN A MECHA NICAL FASHION AND COMPLETING THE ASSESSMENT, THE ASSESSMENT ORDER IS ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE, THE LD. CIT HAS RIGHTLY EX ERCISED THE POWERS UNDER SECTION 263 AND SET ASIDE THE ASSESSMENT ORDER PASS ED BY THE ASSESSING OFFICER ON 25.03.2013 WITH A DIRECTION TO RE DO THE ASSESSM ENT AFRESH AFTER GIVING PROPER OPPORTUNITY TO THE ASSESSEE. THEREFORE, THE LD. D.R. SUBMITS THAT THE ASSESSEE SHOULD NOT HAVE ANY GRIEVANCE AS THE LD. C IT HAS ONLY RESTORED THE ASSESSMENT FOR THE FRESH ADJUDICATION AFTER MAKING ENQUIRIES. ITA NO.2437/M/2015 M/S. JOIE DE VIVRE RESORTS AND PLANTATIONS PVT. LTD . 3 3. WE HAVE HEARD THE LD. D.R. AND PERUSED THE ORDER S OF THE AUTHORITIES BELOW. THE ASSESSEE DID NOT PRESENT AND NOT CONTRO VERTED ANY OF THE SUBMISSIONS OF THE LD. D.R. AND THE FINDINGS OF THE LD. CIT IN HIS ORDER UNDER SECTION 263. THUS, WE SUSTAIN THE ORDER OF THE LD. CIT PASSED UNDER SECTION 263 AND REJECT THE GROUNDS OF THE ASSESSEE. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30.11.2016. SD/- SD/- ( / RAJENDRA) ( / C.N. PRASAD) / ACCOUNTANT MEMBER / JUDICIAL MEMBER /MUMBAI ; / DATED 30 . 11.2016 * KISHORE /COPY OF THE ORDER FORWARDED COPY OF THE ORDER FORWARDED COPY OF THE ORDER FORWARDED COPY OF THE ORDER FORWARDED TO TOTO TO : :: : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) - 4. / CIT 5. / DR, ITAT, MUMBAI 6. / GUARD FILE. / // / BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRAR) / ITAT, MUMBAI / ITAT, MUMBAI / ITAT, MUMBAI / ITAT, MUMBAI