Jai Shree Shyam Industries, Surat V. The ACIT.,Circle-2, Surat

ITA 3771/AHD/2008

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 9825 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 10 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-09-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 30-09-2010
• Assessment Year: 2005-2006
• Appeal Filed On: 19-11-2008
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K M MAHESH
• Keywords: Principle of natural justice

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 1AHMEDABAD BENCH C BEFORE SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER AND SHRI A.N. PAHUJA, ACCOUNTANT MEMBER DATE OF HEARING : 30/09/2010 DRAFTED ON: 30/09 /2010 ITA NO.3771/AHD/2008 ASSESSMENT YEAR : 2005-06 JAI SHREE SHYAM INDUSTRIES PLOT NO.5211, ROAD NO.5 GIDC SACHIN, SURAT VS. THE ASSTT.CIT CIRCLE-2 SURAT PAN/GIR NO. : AATFS 2323 K ( APPELLANT ) .. ( RESPONDENT ) APPELLANT BY : NONE RESPONDENT BY: SHRI K.M. MAHESH, SR.DR O R D E R PER SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER : THIS IS AN APPEAL AT THE BEHEST OF THE ASSESSEE WHICH HAS EMANATED FROM THE ORDER OF LEARNED CIT(APPEALS)-II SURAT DATED 28/08/2008 PASSED FOR ASSESSMENT YEAR 2005-06 BY R AISING THE FOLLOWING GROUNDS :- 1. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE, TH E LEARNED CIT(A) HAS ERRED IN UPHOLDING THE ADDITION ON ACCOU NT OF SUPPRESSION OF SALES OF `6,33,049/- AS MADE BY THE AO PURELY ON CONJECTURES, SURMISES AND ESTIMATES, WHIC H NEEDS TO BE DELETED IN THE INTEREST OF NATURAL JUSTICE AN D EQUITY. 2. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE THE LEA RNED CIT(A) HAS ERRED IN UPHOLDING THE REJECTION OF BOOK S OF ACCOUNTS U/S.143(3) OF THE ACT FOR NON-MAINTENANCE OF STOCK ITA NO. 3771/AHD/2008 JAI SHREE SHYAM INDS. VS. ASST.CIT ASST.YEAR - 2005-06 - 2 - REGISTER AND FALL IN GROSS PROFIT WITHOUT PLEADING ANY DEFECT IN THE BOOKS OF ACCOUNTS, WHICH IS ABSOLUTELY ERRON EOUS AND BAD-IN-LAW. 3. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE, THE LE ARNED CIT(A) HAS ERRED IN UPHOLDING THE DISALLOWANCE OF RS.4,65,354/- ON ACCOUNT OF LEGITIMATE AND BONAFID E CLAIM OF CENVAT RECEIVABLE WRITTEN OFF, WHICH NEEDS TO BE DELETED IN THE INTEREST OF NATURAL JUSTICE AND EQUITY. 4. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE, THE LE ARNED CIT(A) HAS ALSO ERRED IN UPHOLDING THE DISALLOWANCE OF INTEREST EXPENSES OF `20,210/- AS MADE BY THE LD. A O ON THE GROUND THAT EXCESSIVE INTEREST HAS BEEN PAID WHICH IS ERRONEOUS AND NEEDS TO BE DELETED IN THE INTEREST O F NATURAL JUSTICE AND EQUITY. 2. IT WAS FOUND THAT THE APPELLANT IS CONTINUOUSL Y IGNORING THE NOTICES ISSUED FROM THE REGISTRY. IT HAS ALSO BEEN TOLD BY THE LEARNED DEPARTMENTAL REPRESENTATIVE MR. K.M. MAHESH THAT TH IS APPELLANT HAS NOT APPEARED BEFORE THE FIRST APPELLATE AUTHORITY A S WELL. A NOTICE WAS ISSUED BY THE REGISTRY AND AS PER THE RPAD ACKNOWLE DGMENT ON RECORD, THE NOTICE WAS DULY SERVED COMMUNICATING THE DATE O F HEARING FOR TODAY, I.E. ON 30/09/2010, HOWEVER, NO ONE APPEARED. UNDE R THE CIRCUMSTANCES, WE HAVE NO OPTION BUT TO DISMISS THIS APPEAL SINCE THE ASSESSEE IS NOT INTERESTED IN PURSUING WITH ITS APPEAL. THEREFORE, IN VIEW OF HON'BLE MADHYA PRADESH HIGH COURT DECISION IN THE CASE OF E STATE OF LATE TUKOJIRAO HOLKA VS. CWT (1997) 223 ITR 480 (M.P.) A ND OF HON'BLE DELHI TRIBUNAL DECISION IN THE CASE OF CIT VS. MU LTIPLAN INDIA (PVT.) LTD. 38 ITD 320 (DELHI), WE DISMISS THE APPEAL OF THE ASSESSEE IN LIMINE . ITA NO. 3771/AHD/2008 JAI SHREE SHYAM INDS. VS. ASST.CIT ASST.YEAR - 2005-06 - 3 - 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30/ 09 /2010. SD/- SD/- ( A.N. PAHUJA ) ( MU KUL KR. SHRAWAT ) ACCOUNTANT MEMBER JUDICIAL MEMBE R AHMEDABAD; DATED 30 / 09 /2010 T.C. NAIR, SR. PS COPY OF THE ORDER FORWARDED TO : 1. THE ASSESSEE. 2. THE DEPARTMENT. 3. THE CIT CONCERNED 4. THE LD. CIT(APPEALS)-II, SURAT 5. THE DR, AHMEDABAD BENCH 6. THE GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT.REGISTRAR), ITAT, AHMEDABAD 1. DATE OF DICTATION 30/09/2010 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 30/09/2010 OTHER MEMBER 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S04/10/10 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 04/10/10 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 04/10/10 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