M/s. Raghunandan Jewellers (P) Ltd., Meerut V. CIT, Meerut

ITA 2715/DEL/2013

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0198 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 1 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 02-06-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 03-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIKRAM SAHAY
• Keywords: Depreciation
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH F , NEW DELHI BEFORE SHRI I.C. SUDHIR , JUDICIAL MEMBER AND SHRI J.S UDHAKAR REDDY, ACCOUNTANT MEMBER I.T.A.NO. 2715 /DEL/201 3 (A.Y. 200 8 - 09 ) RAGHUNANDAN JEWELLERS P.LTD. G - 19 - 22 ABU PLAZA, ABU LANE MEERUT ( PAN: AACCR 3059 B VS. CIT, MEERUT (APPELLANT) (RESPONDENT) ASSESSEE BY : SH. K.SAMPATH, ADV. DEPARTMENT BY : SH. VIKRAM SAHAY, SR. DR ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AGAINST THE ORDER PASSED U/S 263 OF THE INCOME TAX ACT, 1961 (THE ACT) BY THE LD.CIT, MEERUT ON 21.3.2013 PERTAINING TO THE ASSESSMENT YEAR (AY) 2008 - 09. 2. WE HAVE HEARD SHRI K.SAMPATH, LD.COUNSEL FOR THE ASSESSEE AND SHRI VIKRAM SAHAY, LD.SR.D.R. ON BEHALF OF THE REVENUE. 3. CONSEQUENT TO THIS ORDER PASSED U/S 263 OF THE ACT , THE A.O. PASSED AN ORDER U/S 143(3) R.W.S. 263 OF THE ACT ON 21.3.2004. IN THIS ORDER THE AO HAS MADE THE FOLLOWING ADDITIONS TO THE RETURNED INCOME: ( A ) ADDITION ON ACCOUNT OF DEPRECIATION OF RS.34,281/ - ; ( B ) ADDITION ON ACCOUNT OF ADHOC 10% DISALLOWANCE OF LABOUR CHARGES CLAIMED , AMOUNTING TO RS.4,33,066/ - . 4. BOTH THE PARTIES BEFORE US AGREED THAT THE FIRST APPELLATE AUTHORITY BEFORE WHOM THE ORDER PASSED U/S 263 OF THE ACT R.W.S. 143(3) DT. 21.3.2014 FOR THE A.Y. 2008 - 09 IS PENDING, SHOULD BE DIRECTED TO DISPOSE OF THE CASE INDEPENDENTLY IN ACCORDANCE WITH LAW, WITHOUT BEING INFLUENCED BY ANY OF ITA NO. 2715/DEL/2013 AY 2008 - 09 RAGHUNANDAN JEWELLERS P.LTD., MEERUT 2 THE FINDINGS OR DIRECTIONS GIVEN IN THE ORDER PASSED U/S 263 OF THE ACT DT. 21.3.2013. IN SUCH CIRCUMSTANCES THE LD.COUNSEL FOR THE ASSESSEE AGREED NOT TO PRESS THE GROUNDS ON MERIT. HENCE WE DISPOSE OFF THI S APPEAL BY DIRECTING THE LD.CIT(A) TO ADJUDICATE THE APPEAL , AGAINST THE ORDER PASSED U/S 263 OF THE ACT R.W.S. 143(3) OF THE ACT DT. 21.3.2014 , DE - NOVO, ON MERITS, WITHOUT BEING INFLUENCED WITH THE ORDER OF THE LD.CIT(A) PASSED U/S 263 OF THE ACT. 5. IN THE RESULT TH E ASSESSEE S APPEAL IS DISPOSED OFF AS ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH JUNE, 2015 . SD/ - SD/ - [ I.C.SUDHIR ] [ J. SUDHAKAR REDDY ] JUDICIAL MEMBER ACCOUNTANT MEMBER DT. T HE 11 TH JUNE, 2015 MANGA COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT TRUE COPY BY ORDER, ASSISTANT REGISTRAR, ITAT, DELHI BENCHES