The Shalin Infrastructure Pvt. Ltd., Ahmedabad V. The Income Tax Officer, CPC, Bangalore

ITA 2881/AHD/2015

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5784 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 5 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 14-10-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S N DIVATIA
• Keywords: Depreciation
• Section: 133(6)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH AHMEDABAD BEFORE, SHRI N. K. BILLAIYA , ACCOUNTANT MEMBER AND SHRI S. S. GODARA, JUDICIAL MEMBER ITA NO. 2881/AHD/2015 (ASSESSMENT YEAR : 2010-11) THE SHALIN INFRASTRUCTURE PVT. LTD., C-102, SHIVALIK BUSINESS CENTRE, OPP. KENSVILLE GOLF ACADEMY, B/H. RAJPATH CLUB, S. G. HIGWAY, AHMEDABAD 380054 APPEL LANT VS. THE ITO, CPC, BANGALORE, KARNATAKA - 560160 RESPONDE NT PAN: AABCD5228P / BY ASSESSEE : SHRI S. N. DIVATIA, A.R. / BY REVENUE : SHRI PRASOON KABRA, SR. D.R. /DATE OF HEARING : 21.03.2018 /DATE OF PRONOUNCEMENT : 28.03.2018 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2010-11 A RISES FROM THE CIT(A)-9, AHMEDABADS ORDER DATED 03.08.2015, IN CAS E NO. CIT(A)-9/435/14- 15, UPHOLDING ASSESSING OFFICERS ACTION REJECTING ITS RECTIFICATION CLAIMING TDS ITA NO. 2881/AHD/15 [M/S. THE SHALIN INFRASTRUCTURE PVT. LTD. VS. ITO ] A.Y. 2010-11 - 2 - OF RS.1,20,875/- IN HIS ORDER DATED 13.06.2013, IN PROCEEDINGS U/S.154 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE RELEVANT FACTS ARE IN A NARROW COMPASS. THIS ASSESSEE IS A COMPANY ENGAGED IN REAL ESTATE DEVELOPMENT BUSINESS. IT E- FILED ITS RETURN ON 29.09.2010 DECLARING NIL INCOME IN VIEW OF ITS RETURN ON 29.09 .2010 DECLARING NIL INCOME IN VIEW OF ITS LOSS BY WAY OF DEPRECIATION AMOUNTING T O RS.9,79,285/-. THE CPC PROCESSED THE SAME ON 29.09.2010. THE ITO, WARD-8(3 ), AHMEDABAD THEREAFTER ISSUED SECTION 133(6) NOTICE DATED 14.08.2012 THAT THE ASSESSEE HAD NOT CLAIMED TDS OF RS.1,20,875/- IN ITS RETURN. THE ASSESSEE FIL ED REPLY THERETO DATED 17.08.2012 PLEADING THEREIN THAT ITS BALANCE SHEET AS ON 31.03.2010 HAD STATED THE SAID AMOUNT AS RECEIVABLES DUE TO MISTAKE AND A LSO INADVERTENTLY OMITTED THE VERY AMOUNT IN ITS RETURN. IT THEN REQUESTED THE C PC BY WAY OF RECTIFICATION DATED 11.10.2012 FOR TDS REFUND. THE SAME STOOD RE JECTED VIDE INTIMATION DATED 02.11.2012. THE ASSESSEE THEN PREFERRED THE IMPUGNED RECTIFICATION BEFORE THE ASSESSING OFFICER. HE ALSO DECLINED THE SAME IN HI S ORDER DATED 13.06.2013 HOLDING THAT THE ABOVE ALLEGED ERROR WAS NOT IN THE NATURE OF MISTAKE APPARENT FROM RECORD. THE CIT(A) AFFIRMED THE SAME IN LOWER APPELLATE PROCEEDINGS. 3. WE HAVE HEARD RIVAL SUBMISSIONS REITERATING BOTH PARTIES RESPECTIVE STANDS AGAINST AND IN SUPPORT OF THE IMPUGNED RECTI FICATION. MR. DIVATIA TAKES US TO PAPER BOOK PAGES WELL CONTAINING FORM 26AS TO TH E EFFECT THAT THE PAYER IN QUESTION M/S. CLIANTHA RESEARCH LTD. HAD IN FACT DED UCTED TDS OF RS.1,20,875/- PERTAINING TO THE IMPUGNED ASSESSMENT YEAR. THE ASS ESSING OFFICERS NOTICE U/S. 133(6) OF THE ACT (SUPRA) FORMED PART OF RECORD AT PAGE 14 THAT THE ASSESSEE HAD NOT CLAIMED THE SAID TDS. ALL THIS SUFFICIENTLY IND ICATE THAT THE ASSESSEES COMPUTATION IN QUESTION SUFFERS FROM AN INADVERTENT ERROR. WE ACCORDINGLY CONCLUDE THAT IT IS VERY MUCH ENTITLED TO SEEK THE RELEVANT RECTIFICATION U/S.154 OF ITA NO. 2881/AHD/15 [M/S. THE SHALIN INFRASTRUCTURE PVT. LTD. VS. ITO ] A.Y. 2010-11 - 3 - THE ACT FOR APPROPRIATE ASSESSMENT OF ITS TAXABLE I NCOME/LOSS AS PER THE PROVISIONS OF THE ACT. WE ACCORDINGLY ACCEPT ASSES SEES SOLE SUBSTANTIVE GRIEVANCE AND DIRECT THE ASSESSING OFFICER TO FRAME CONSEQUENTIAL COMPUTATION AS PER LAW. 4. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS. [PRONOUNCED IN THE OPEN COURT ON THIS THE 28 TH DAY OF MARCH, 2018.] SD/- SD/- ( N. K. BILLAIYA ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIA L MEMBER AHMEDABAD: DATED 28/03/2018 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )* + ,--. . /0 / DR, ITAT, AHMEDABAD 1 + 23 / GUARD FILE. BY ORDER / . // . /0