ACIT 25(3), MUMBAI V. KTM SECURITIES, MUMBAI

ITA 253/MUM/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 8539 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-02-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 11-01-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRS ASHIMA GUPTA
• Keywords: Opportunity of being heard; Additional evidence; Set aside
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI BEFORE SHRI R.S.SYAL, AM AND SMT.ASHA VIJAYARAGHAVA N, JM ITA NOS.249 & 253/MUM/2010 : ASST.YEAR 2006-2007 THE ASSTT.COMMISSIONER OF INCOME-TAX CIRCLE 25(3) MUMBAI. VS. M/S.KTM SECURITIES 44/864, SAI SAHAKARI SOCIETY NEAR POST OFFICE, SAMTA NAGAR KANDIVLI (EAST), MUMBAI 400 101. PAN : AADFK5527F. (APPELLANT) (RESPONDENT) APPELLANT BY : MRS.ASHIMA GUPTA RESPONDENT BY : SHRI JITENDRA JAIN O R D E R PER R.S.SYAL, AM : THESE TWO APPEALS BY THE REVENUE ARE AGAINST TWO DI STINCT ORDERS PASSED BY THE LEARNED CIT(A) IN QUANTUM AS WELL AS PENALTY U/ S.271(1)(C) IN RELATION TO ASSESSMENT YEAR 2006-2007. 2. AT THE VERY OUTSET THE LEARNED COUNSEL FOR THE A SSESSEE FAIRLY CONCEDED THAT SOME ADDITIONAL EVIDENCE IN THE SHAPE OF AGREEMENT ETC. WERE FILED BEFORE THE LEARNED CIT(A) FOR THE FIRST TIME, WHICH WERE ADMI TTED BY THE FIRST APPELLATE AUTHORITY WITHOUT CONFRONTING IT TO THE ASSESSING O FFICER AND ON THAT BASIS ADDITION WAS DELETED. THE LEARNED A.R. FAIRLY ADMITTED THAT HE HAS NO OBJECTION IF THE MATTER IS RESTORED TO THE FILE OF A.O. THE LEARNED DEPARTM ENTAL REPRESENTATIVE SUPPORTED THE ARGUMENT MADE ON BEHALF OF THE LEARNED A.R. 3. IN VIEW OF RIVAL BUT COMMON SUBMISSION AND WITHOUT GOING INTO THE MERITS OF THE CASE, WE ARE OF THE CONSIDERED OPINION THAT IT WOULD BE JUST AND FAIR IF BOTH THE IMPUGNED ORDERS ARE SET ASIDE AND THE MATTER RESTOR ED TO THE FILE OF A.O. WE ORDER ACCORDINGLY AND DIRECT THE AO TO TAKE A FRESH DECIS ION AS PER LAW AFTER ALLOWING A REASONABLE OPPORTUNITY OF BEING HEARD TO THE ASSESS EE. NEEDLESS TO SAY THE ASSESSEE WILL BE AT LIBERTY TO LEAD ANY EVIDENCE IN DEFENCE OF ITS CASE. ITA NOS. 249 & 253/MUM/2010 M/S.KTM SECURITIES. 2 4. IN THE RESULT, BOTH THE APPEALS ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON THIS 9 TH DAY OF FEBRUARY, 2011. SD/- SD/- (ASHA VIJAYARAGHAVAN) (R.S.SYAL) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI : 9 TH FEBRUARY, 2011. DEVDAS* COPY TO : 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT CONCERNED 4. THE CIT(A) XXXV, MUMBAI. 5. THE DR/ITAT, MUMBAI. 6. GUARD FILE. TRUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, MUMBAI.