Appeal details
Counselvise Citation
[2017] 130 COUNSELVISE.COM (IT) 9206 (ITAT-AHMEDABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
3 year(s) 26 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
23-02-2017
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
SMC
Next Hearing Date
22-02-2017
Assessment Year
2005-2006
Appeal Filed On
27-01-2014
Judgement Text
, IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD .., , BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ./ I.T.A. NO.260/AHD/2014 ( / ASSESSMENT YEAR : 2005-06) BONSAI PHARMACHEM LTD. C/O. VK MOODRA 7 CO. 201, SARAP OPP: NAVJIVAN PRESS ASHRAM ROAD, AHMEDABAD / VS. THE ITO WARD-192) AHMEDABAD $ ./ ./ PAN/GIR NO. : AACB 4643 D ( $' / APPELLANT ) .. ( ($' / RESPONDENT ) $') / APPELLANT BY : NONE ($'* ) / RESPONDENT BY : MR.DHRMVIR YADAV, SR.DR +,*- / DATE OF HEARING 22/02/2017 ./0*- / DATE OF PRONOUNCEMENT 23/02/2017 / O R D E R PER PRADIP KUMAR KEDIA, AM: THE CAPTIONED APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-III, AHM EDABAD DATED 2005-06 FOR THE ASSESSMENT YEAR ASSESSMENT YEAR (A Y) 2005-06. 2. THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE RE AD AS UNDER:- ITA NO.260/AHD/ 2014 BONSAI PHARMACHEM LTD. VS. ITO ASST.YEAR 2005-06 - 2 - (1) THAT ON FACTS, AND IN LAW, THE LEARNED CIT(A) HAS G RIEVOUSLY ERRED IN NOT AFFORDING SUFFICIENT OPPORTUNITY OF HE ARING AND DECIDING THE APPEAL EX-PARTE. (2) THAT ON FACTS, AND IN LAW, THE LEARNED CIT(A) HAS G RIEVOUSLY ERRED IN CONFIRMING THE ADDITION OF RS.1,58,268/- T OWARDS VALUATION OF CLOSING STOCK U/S.145A OF THE ACT. 3. BRIEFLY STATED, THE ASSESSEE FILED RETURN OF INC OME FOR THE AY 2005- 06 AT RS.9,10,061/-. THE ASSESSMENT WAS FRAMED UND ER S.143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS 'T HE ACT') AND INCOME WAS ASSESSED AT RS.9,89,078/-. THE CASE WAS THEREA FTER REOPENED AND NOTICE UNDER S.148 OF THE ACT WAS ISSUED ON 15/01/2 010. IT WAS NOTED BY THE ASSESSING OFFICER (AO) THAT THE CLOSING STOCK O F THE ASSESSEE- COMPANY WAS UNDER REPORTED TO THE EXTENT OF RS.1,58 ,268/- ON ACCOUNT OF INCORRECT WORKING OF CLOSING STOCK. THE AO OBSERVE D THAT EXCISE DUTY PAYABLE HAS NOT BEEN GIVEN EFFECT TO WHILE DETERMIN ING THE VALUE OF CLOSING STOCK UNDER S.145A OF THE ACT. THE AFORESA ID AMOUNT WAS ACCORDINGLY BROUGHT TO TAXATION IN THE RE-ASSESSMEN T ORDER. THE CIT(A) IN THE FIRST APPEAL DISMISSED THE APPEAL OF THE ASS ESSEE ON THE GROUND THAT THE ASSESSEE HAS NOT FILED ANY REPLY IN ITS DEFENCE . 4. AGGRIEVED BY THE ORDER OF THE CIT(A), THE ASSESS EE FILED SECOND APPEAL BEFORE THE TRIBUNAL. ITA NO.260/AHD/ 2014 BONSAI PHARMACHEM LTD. VS. ITO ASST.YEAR 2005-06 - 3 - 5. NONE APPEARED FOR THE ASSESSEE IN SPITE OF PROPE R INTIMATION ON THE APPOINTED DATE OF HEARING. THE MATTER WAS ACCORDIN GLY PROCEEDED EX- PARTE . THE LD.DR RELIED UPON THE ORDERS OF THE AND THE CIT(A). 6. WE HAVE PERUSED THE ORDERS OF THE AO AND THE CIT (A) PLACED BEFORE US. WE FIND THAT THE ASSESSEE HAS OFFERED N O EXPLANATION TO THE AO TO REBUT THE ALLEGATION OF UNDER ASSESSMENT OF I NCOME ON ACCOUNT OF LOWER VALUATION OF CLOSING STOCK DECLARED BY RS.1,5 8,268/-. THE ASSESSEE FAILED TO DEFEND THE ALLEGATION BEFORE THE CIT(A) E ITHER. WE THUS FIND THAT THE ACTION OF THE AO IN MAKING ADDITIONS TOWAR DS EXCISE DUTY CANNOT BE FAULTED IN VIEW OF SECTION 145A OF THE ACT. ACC ORDINGLY, WE ARE NOT INCLINED TO INTERFERE WITH THE ORDER OF THE CIT(A) IN THE ABSENCE OF ANY ADVERSITY BROUGHT ON RECORD THEREON. 7. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISS ED EX-PARTE . THIS ORDER PRONOUNCED IN OPEN COURT ON 23 / 02 /201 7 SD/- SD/- (..) ( ) ( S.S. GODARA ) ( PRADIP KUMAR KEDIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD; DATED 23/ 02 /2017 ITA NO.260/AHD/ 2014 BONSAI PHARMACHEM LTD. VS. ITO ASST.YEAR 2005-06 - 4 - 4..+,.+../ T.C. NAIR, SR. PS !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. $' / THE APPELLANT 2. ($' / THE RESPONDENT. 3. 567- 8- / CONCERNED CIT 4. 8- ( ) / THE CIT(A)-III, AHMEDABAD 5. 9:-+67 , 670 , 5 / DR, ITAT, AHMEDABAD 6. <, / GUARD FILE. / BY ORDER, (9-- //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. DATE OF DICTATION .. 22.2.17 (DICTATION-PAD 6- PAGES ATTACHED AT THE END OF THIS APPEAL-FILE) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 22.2.17 3. OTHER MEMBER 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.23.2.17 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 23.2.17 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER
