Jewel Knitwears Ltd, Baroda V. The ACIT.,Circle-1(2), Baroda

ITA 3478/AHD/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 6012 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-07-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 30-12-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH B BEFORE SHRI MUKUL KR.SHRAWAT, JUDICIAL MEMBER AN D SHRI A.K. GAROIDA, ACCOUNTANT MEMBER DATE OF HEARING :29/07/2011 DRAFTED ON: 29/07/ 2011 ITA NO.3478/AHD/2010 ASSESSMENT YEAR : 2005-06 JEWEL KNITWEARS LTD. PLOT NO.1181/3 NEAR BHARAT COTTON MILLS KARJAN (DIST.BARODA) VS. THE ACIT CIRCLE-1(2) BARODA PAN/GIR NO. : AAACJ 4588 GK (APPELLANT) .. (RESPONDENT) APPELLANT BY : -NONE- RESPONDENT BY: SHRI SAMIR TEKRIWAL, SR. D.R. O R D E R PER SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER : THIS IS AN APPEAL AT THE BEHEST OF THE ASSESSEE W HICH HAS EMANATED FROM THE ORDER OF LEARNED CIT(APPEALS)-IV, BARODA DATED 18/10/2010 PASSED FOR ASSESSMENT YEAR 2005-06 AS PE R FOLLOWING GROUNDS:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE, THE LEARNED CIT(A) ERRED IN CONFIRMING THE LEVY ON PENALTY OF R S.4,24,000/- UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961 . 2. THE INCOME ARRIVED AT BY THE LEARNED CIT(A) ON WHICH THE PENALTY HAS BEEN LEVIED IS BASED ON DISALLOWANCE OF 50% OF THE EXPENSES CLAIMED BY THE APPELLANT OUT OF ITS GROSS INCOME THUS SUCH INCOME IS ON ESTIMATED BASIS. ITA NO. 3478/AHD/2010 JEWEL KNITWEARS LTD. VS. ACIT ASST.YEAR - 2005-06 - 2 - 3. THE ASSESSEE HAS NEITHER CONCEALED ANY INCOME N OR HAS IT PROVIDED ANY INACCURATE DETAILS OF INCOME DURING TH E YEAR UNDER CONSIDERATION. 2. N OTICE HAS BEEN ISSUED ON 11/07/2011 FIXING THE DATE OF HEARING ON 29/07/2011 WAS SENT THROUGH REGISTERED POST (AD ) TO THE ASSESSEE (AS PER EVIDENCE ON RECORD) WHICH WAS RETURNED BY THE P OSTAL AUTHORITIES UNSERVED WITH THE REMARKS COMPANY CLOSED. UNDE R THE CIRCUMSTANCES, WE HAVE NO OPTION BUT TO DISMISS TH IS APPEAL SINCE THE ASSESSEE IS NOT INTERESTED IN PURSUING WITH ITS APP EAL. THEREFORE, IN VIEW OF HON'BLE MADHYA PRADESH HIGH COURT DECISION IN TH E CASE OF ESTATE OF LATE TUKOJIRAO HOLKA VS. CWT (1997) 223 ITR 480 (M. P.) AND OF HON'BLE DELHI TRIBUNAL DECISION IN THE CASE OF CI T VS. MULTIPLAN INDIA (PVT.) LTD. 38 ITD 320 (DELHI), WE DISMISS THE APP EAL OF THE ASSESSEE IN LIMINE . 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED IN THE COURT ON 29 / 07 /2011. SD/- SD/- ( A.K. GARODIA ) ( MUKU L KR. SHRAWAT ) ACCOUNTANT MEMBER JUDICIAL MEMB ER AHMEDABAD; DATED 29/ 07 /2011 T.C. NAIR, SR. PS ITA NO. 3478/AHD/2010 JEWEL KNITWEARS LTD. VS. ACIT ASST.YEAR - 2005-06 - 3 - COPY OF THE ORDER FORWARDED TO : 1. THE ASSESSEE. 2. THE DEPARTMENT. 3. THE CIT CONCERNED 4. THE LD. CIT(APPEALS)-IV, BARODA 5. THE DR, AHMEDABAD BENCH 6. THE GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT.REGISTRAR), ITAT, AHMEDABAD 1. DATE OF DICTATION ..29/07/2011 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 29/07/2011 OTHER MEMBER 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S 29/07/2011 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 29/07/2011 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK . 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 9. DATE OF DESPATCH OF THE ORDER