DCIT, Coimbatore V. Bharaneedhars Refineries (P) Ltd., Tiruppur

ITA 333/CHNY/2016

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 9415 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-04-2016
• Appeal Filed By: Department
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 16-02-2016
• Court: TRIBUNAL
• Department Lawyers: DR U ANJANEYULU
• Assessee Lawyers: G BASKAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , ! ' , # $% BEFORE SHRI N.R.S.GANESAN, JUDICIAL MEMBER AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ./ ITA NO. 333/MDS/2016 / ASSESSMENT YEAR : 2012-13 THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCL-2, COIMBATORE 641 018. ( /APPELLANT) VS M/S. BHARANEEDHARS REFINERIES (P) LTD., 113, PALANI ROAD, GANAPATHIPALAYAM SOUTH, KOLINJIVADI POST, DHARAPURAM, TIRUPUR 638 673. PAN AAECB3359A ( /RESPONDENT) / APPELLANT BY : DR. U. ANJANEYULU , CIT / RESPONDENT BY : SHRI G. BASKAR, ADVOCATE / DATE OF HEARING : 25.04.2016 ! / DATE OF PRONOUNCEMENT: 29.04.2016 / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS) DATED 14 .9.2015. - - ITA 333/16 2 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS : 2. THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITI ON OF ` 2,25,86,094/- BEING INCOME INVOLVING SUSPICIOUS TRANSACTION MADE IN THE CASE OF THE COMPANY ON PROTECTIVE BASIS. 2.1 THE LD. CIT(A) ALTHOUGH HAS CONFIRMED/UPHELD T HE ADDITION OF ` 2,25,86,094/- MADE ON SUBSTANTIVE BASIS IN THE CASE OF SHRI T.M.RAMALINGAM, MANAGING DIRECTOR OF THE ASSESSEE COMPANY VIDE ORDER IN ITA NO.225-231/15-16 DT. 14.09.2015, OUGHT TO HAVE GIVE N A FINDING UPHOLDING THE ACTION OF THE ASSESSING OFF ICER IN ADDING THAT AMOUNT ON PROTECTIVE BASIS IN THIS C ASE. 3. THE FACTS OF THE CASE ARE THAT IN THE ASSESSMENT ORDER IN THE CASE OF THE DIRECTOR, THE SAME AMOUNT HAS BEEN ADDED ON SUBSTANTIVE BASIS. AS IN THE APPELLATE ORDER IN IT A NO.225 TO 231/15-16, THIS ADDITION WAS UPHELD, THE ADDITION M ADE IN THE PRESENT CASE ON PROTECTIVE BASIS IS DELETED. 4. AT THE TIME OF HEARING, IT WAS BROUGHT TO OUR NO TICE THAT THE ADDITION IN THE CASE OF THE DIRECTOR WAS SUBJECT MA TTER BEFORE THIS TRIBUNAL IN ITA NOS.2300 TO 2306/MDS/2015 DATED 13. 4.2016, WHEREIN THE TRIBUNAL REMITTED THE ISSUE TO THE FILE OF THE AO FOR FRESH CONSIDERATION. HENCE, IN OUR OPINION, IT IS APPROPRIATE TO DECIDE THIS ISSUE ALONG WITH THAT APPEAL, I.E. ITA NOS.2300 TO 2306/MDS/2015 IN THE CASE OF T.M. RAMALINGAM. ACCO RDINGLY, - - ITA 333/16 3 WE REMIT THIS ISSUE TO THE FILE OF THE AO FOR FRESH CONSIDERATION AND THIS GROUND OF APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS ALLO WED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON FRIDAY, THE 29 TH OF APRIL, 2016 AT CHENNAI. SD/- SD/- ( ' . . ' . #$ ) ( % & ' ( ) ) N.R.S.GANESAN * )+,-./0-1223-04* 5 67 /JUDICIAL MEMBER 6789::2;.<-.<=>?@>0 %5 /CHENNAI, A6 /DATED, THE 29 TH APRIL, 2016. MPO* 6$ BCDC /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. E)* /CIT(A) 4. E /CIT 5. CF# G /DR 6. #HI /GF.