M/s. Puma Sports India Private Limited, Bengaluru V. Assistant Commissioner Of Income Tax, Circle- 5(1)(2), Bangalore

ITA 2469/BANG/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 2827 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-03-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2015-2016
• Appeal Filed On: 03-12-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard
• Section: 143(3); 201; 144C; 13; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT (TP) A NO . 2469 /BANG/201 9 ASSESSMENT YEAR : 20 1 5 - 1 6 M/S. PUMA SPORTS INDIA PVT. LTD., NO. 509, CMH ROA D, INDIRANAGAR, BENGALURU - 5600 38 . PAN : AADCP7081J VS. ACIT , CIRCLE 5 (1)( 2 ), BENGALURU. APPELLANT RESPONDENT ASSESSEE BY : SHRI. NAGESWAR RAO, ADVOCATE REVENUE BY : SHRI. MUZAFFAR HUSSAIN, CIT (DR)(ITAT), BENGALURU DATE OF HEARING : 1 2 . 0 2.20 20 DATE OF PRONOUNCEMENT : 13 .03.20 20 O R D E R PER SHRI A.K.GARODIA, AM TH I S APPEAL IS FILED BY THE ASSESSEE AND THE SAME IS DIRECTED AGAINST THE ASSESSMENT ORDER DATED 2 3 . 1 0.201 9 FOR ASSESSMENT YEAR 201 5 1 6 UNDER SECTION 143(3) R .W.S. 144C OF THE INCOME TAX ACT, 1961 AS PER THE DIRECTIONS OF DRP. 2. THE ASSESSEE HAS FILED REVISED GROUNDS DATED 09.11.2019 HAVING 13 GROUNDS. IN COURSE OF HEARING, LEARNED AR OF THE ASSESSEE SUBMITTED THAT GROUND NO. 1 AND 2 ARE GENERAL AND FOR THESE GROUNDS, NO SEPARATE ADJUDICATION IS CALLED FOR. WE HOLD ACCORDINGLY. 3. THEREAFTER, HE SUBMITTED THAT AS PER THE REMAINING GROUNDS, THE GRIEVANCE OF THE ASSESSEE IS ABOUT T P ADJUSTMENT AND IN THIS REGARD, THE ASSESSEE IS SEEKING EXCLUSION OF FOUR COMPARA BLE I.E. M/S METRO SHOES LIMITED, M/S VF BRANDS INDIA PRIVATE LIMITED, M/S TOMMY HILFIGER IT(TP)A NO. NO. 2469 /BANG/201 9 - 2 - ARVIND FASHION LIMITED AND SREELEATHERS LIMITED AND SEEKING INCLUSION OF TWO COMPARABLES I.E. M/S DINDAYAL JALAN TEXTILES LIMITED AND M/S COLORPLUS FASHIONS LIMITED A ND THERE ARE SOME OBJECTIONS ABOUT MARGIN COMPUTATION AND SOME ADJUSTMENTS SUCH AS RISK ADJUSTMENT AND ADJUSTMENT IN RESPECT OF CUSTOM DUTY PAID ON IMPORT OF RAW MATERIALS ETC. THE BENCH WANTED TO SEE THE FINDING OF DRP ON THESE ASPECTS AND WHEN THE ORDER OF DRP WAS READ, IT WAS NOTICED THAT THE ORDER OF DRP IS CRYPTIC AND IT IS NOT A SPEAKING AND REASONED ORDER. AT THIS JUNCTURE, THE BENCH MADE OUT THIS PROPOSITION THAT THE MATTER HAS TO GO BACK TO DRP FOR A FRESH DECISION BY WAY OF A SPEAKING AND REASONED ORDER. IN REPLY, BOTH SIDES AGREED TO THIS PROPOSITION BUT THIS WAS THE COMMON REQUEST OF BOTH SIDES THAT ALL ASPECT OF THE MATTER ABOUT T P ADJUSTMENT SHOULD BE LEFT OPEN FOR A FRESH DECISION BY DRP. 4. IN VIEW OF ABOVE DISCUSSION, WE RESTORE THE ENTIRE T P MATTER TO DRP FOR A FRESH DECISION BY WAY OF A SPEAKING AND REASONED ORDER AFTER PROVIDING ADEQUATE OPPORTUNITY OF BEING HEARD TO BOTH SIDES. IN VIEW OF THIS DECISION, WE MAKE NO COMMENT ON MERIT. 5 . IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STAT ISTICAL PURPOSES . PRONOUNCED IN THE OPEN COURT ON TH E DATE MENTIONED ON THE CAPTION PAGE . SD/ - ( BEENA PILLAI ) (A.K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED: 13 TH MARCH , 20 20 . /NS/ * IT(TP)A NO. NO. 2469 /BANG/201 9 - 2 - COPY TO: 1. APPELLANTS 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.