M/S. RAKESH KUMAR JAIN, CHAMPA (CG) V. ITO, WARD- 2(2), BILASPUR(CG)

ITA 27/BIL/2015

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 4765 (ITAT-RAIPUR)
• Duration Of Justice: 6 year(s) 8 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 13-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R B DOSHI
• Keywords: TDS

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR BEFORE SHRI PRADIP KUMAR KEDIA , HON'BLE ACCOUNTANT MEMBER & SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER I.T.A. NO. 2 7 / RPR /2015 (ASST. YEAR : 2010 - 1 1 ) M/S. RAKESH KUMAR JAIN, POLICE STATION ROAD, AKALTARA, D IS T. JANJGIR CHAMPA (CG) V S. IT O , WARD - 2(2) BILASPUR (CG). PAN NO. AAEEJ 7046 F (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI R.B. DOSHI , C A. DEPARTMENT BY : SHRI SANJAY KUMAR , DR DATE OF HEARING : 02 / 0 8 /2021 . DATE OF PRONOUNCEMENT : 29 / 0 9 /2021 . O R D E R PER N.K. CHOUDHRY , JUDICIAL MEMBER THIS APPEAL HAS BEEN PREFERRED BY THE A SSESSEE AGAINST THE ORDER DATED 18 /0 4 /201 3 IMPUGNED HEREIN PASSED BY THE LD. COMMISSIONER OF INCOME TAX (APPEAL) [FOR SHORT, LD. COMMISSIONER], BILASPUR U/SEC. 250(6) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE 'ACT') FOR THE A.Y. 2010 - 11. 2 ITA NO. 27/RPR/2015 ( M/S. RAKESH KUMAR JAIN ) 2. THE ASSESSEE, THOUGH , HAS CHALLENGED T WO ADDITIONS OF RS.8,24,777/ - ON ACCOUNT OF NET PROFIT AND RS. 5,65,084/ - ON ACCOUNT OF INTEREST PAID ON FINANCE CHARGES MADE BY THE AO AND CONFIRMED BY THE LD. COMMISSIONER, HOWEVER, DURING THE HEARING OF APPEAL , THE ASSESSEE DID NOT PRESS ADDITION OF RS. 8,24,777/ - O N ACCOUNT OF NET PROFIT . T HEREFORE , THE ONLY ISSUE FOR CONSIDERATION BEFORE US RELATES TO THE ADDITION OF RS. 5,65,084/ - ON ACCOUNT OF INTEREST PAID ON FINANCE CHARGES . THIS AMOUNT WAS ADDED IN THE INCOME OF THE ASSESSEE FOR NO N - DEDUCTION OF TDS BY THE AO AND SUSTAINED BY THE L D. COMMISSIONER. 3 . THE LD.AR PRAYED THAT THE ISSUE MAY BE REMITTED TO THE FILE OF THE AO FOR DETERMINATION AFRESH WHILE CONSIDERING THE FACTUAL POSITION QUA PAYING OF INCOME - TAX ON THE SAID AMOUNT OF ADDITION BY THE PAYEE BECAUSE AS PER ASSESSEES KNOWLEDGE THE PAYEE HAS PAID THE RELEVANT TAXES. ON THE OTHER HAND , LD.DR RAISED NO OBJECTION. 4 . CONSIDERING THE PECULIAR FACTS AND CIRCUMSTANCES, IN THE INTEREST OF JUSTICE AND FOR THE JUST DECISION OF THE CASE, WE DEEM IT APPROPRIATE TO REMAND THE ISSUE IN HAND TO THE FILE OF THE AO FOR FACTUAL DETERMINATION IN VIEW OF DICTUM LAID DOWN BY THE HON'BLE APEX COURT IN THE CASE OF HINDUSTAN COCA COLA BEVERAGE PVT. LTD. VS. CIT (2007) 293 ITR 226 (SC), AS TO WHETHER PAYEE (RECIPIENT) HAS PAID THE RELEVANT TAXES ON THE ADDITION OF RS. 5,65,084/ - ON ACCOUNT OF INTEREST PAID ON FINANCE CHARGES, AND TO DECIDE AFRESH THE LIABILITY OF THE ASSESSEE, IF ANY . 3 ITA NO. 27/RPR/2015 ( M/S. RAKESH KUMAR JAIN ) WE MAY CLARIFY THAT ONUS WOULD BE ON THE ASSESSEE TO SUBSTANTIATE ITS CASE EITHER SIDE, HOWEVER, THE AO WOULD BE AT LIBERTY TO CALL FOR RECORDS OF THE PAYEE FOR JUST DECISION OF THE CASE. 5 . IN THE RESULT, APPEAL FILED BY THE ASSESSEE STANDS ALLOWED FOR ST ATISTICAL PURPOSE. ORDER PRONOUNCED ON DATED 2 9 - 09 - 2021 AS PER RULE 34(4) OF THE IT (APPELLATE TRIBUNAL) RULES . S D / - S D / - ( PRADIP KUMAR KEDIA ) ( N.K. CHOUDHRY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 2 9 T H SEPTEMBER , 20 2 1 . VR/ - COPY TO: 1. THE ASSESSEE - M/S. RAKESH KUMAR JAIN, POLICE STATION ROAD, AKALTARA, DIST. JANJGIR CHAMPA (CG) 2. THE REVENUE ITO, WARD - 2(2), BILASPUR (CG). 3. LD. CIT(A) , BILASPUR. 4. CIT , BILSAPUR. 5. THE D.R . , RAIPUR . 6. GUARD FILE. BY ORDER SR. PRIVATE SECRETARY, ITAT, RAIPUR (ON TOUR) .