Rahul Arunchand Jain, Dhule V. The Income Tax Officer Ward-1, Dhule

ITA 390/PUN/2023

AI Insights

The case involves Rahul Arunchand Jain, an individual engaged in trading gold and gold ornaments, who appealed against the order of the NFAC for the assessment year 2014-15. The NFAC had dismissed his appeal due to a significant delay in filing, which was not adequately explained by the assessee. The primary legal issue was whether the delay in filing the appeal could be condoned. The Tribunal, after reviewing the materials and hearing the Senior Departmental Representative, concluded that the NFAC was justified in not condoning the delay and dismissed the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137445 (ITAT-PUNE)
• Duration Of Justice: 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-07-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 20-06-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 05-04-2023
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Condonation of delay
• Section: 147; 148; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.390/PUN/2023 िनधाᭅरण वषᭅ / Assessment Year : 2014-15 Rahul Arunchand Jain, C/o Rupam Steel, Main Road, Songir, Dist. Dhule- 424309. PAN : ACYPJ8433C Vs. ITO, Ward-1, Dhule. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the National Faceless Appeal Centre [‘NFAC’] dated 07.03.2023 for the assessment year 2014-15. 2. Briefly, the facts of the case are that the appellant is an individual deriving income from the business of trading in gold and gold ornaments etc. The Return of Income for the assessment year 2014-15 was filed on 13.08.2016 declaring total income of Rs.7,96,682/-. Subsequently, the case was reopened u/s 147 of the Income Tax Act, 1961 (‘the Act’) and notice u/s 148 was issued on 07.07.2016. Against the said return of income, the assessment was Assessee by : None Revenue by : Shri M. G. Jasnani Date of hearing : 21.06.2023 Date of pronouncement : 05.07.2023 ITA No.390/PUN/2023 2 completed by the Income Tax Officer, Ward-2, Dhule (‘the Assessing Officer’) vide order dated 31.07.2017 passed u/s 143(3) r.w.s. 148 accepting the returned income. However, an appeal was filed before the NFAC claiming that the interest received on the compensation, received on acquisition of agricultural land is exempt from tax, cannot be brought to tax. The said appeal was filed with the delay of 1488 days. The NFAC not being satisfied with the reasons given for the condonation of delay had dismissed the appeal of the assessee in limine on the hands of limitation. 3. Being aggrieved, the appellant is in appeal before us in the present appeal. 4. Even before us, when the appeal was called on, none appeared on behalf of the assessee despite due service of notice of hearing. Therefore, we proceed to dispose of this matter considering the material on record and after hearing the ld. Sr. DR. 5. We heard the ld. Sr. DR and perused the material on record. We had carefully gone through the grounds of appeal filed before us. The appellant had not taken any plea as to how the NFAC was not justified in not condoning the delay. We had also gone through the reasons for condonation of delay filed before the NFAC. We are convinced that the NFAC is justified in not condoning the delay of 1488 days, as the assessee could not properly explain the reasons for ITA No.390/PUN/2023 3 condonation of delay in filing the appeal before the NFAC. Therefore, we do not find any merits in the grounds of appeal filed by the assessee. 6. In the result, the appeal filed by the assessee stands dismissed. Order pronounced on this 05 th day of July, 2023. Sd/- Sd/- (PARTHA SARATHI CHAUDHURY) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 05 th July, 2023. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The Pr. CIT concerned. 4. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “B” बᱶच, पुणे / DR, ITAT, “B” Bench, Pune. 5. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.