Appeal details
Counselvise Citation
[2015] 140 COUNSELVISE.COM (IT) 88618 (ITAT-MUMBAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 year(s) 10 month(s) 1 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
18-03-2015
Appeal Filed By
Assessee
Bench Allotted
C
Next Hearing Date
02-12-2014
Assessment Year
2006-2007
Appeal Filed On
17-05-2013
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI VK;DJ VIHYH; VF/KDJ.K] LH U;K;IHB EQACBZ BEFORE SHRI VIJAY PAL RAO , JUDICIAL MEMBER AND SHRI RAJENDRA, ACCOUNTANT MEMBER JH FOT; IKY JKO] U;KF;D LNL; ,OA JH JKTSUNZ] YS[KK LNL; DS LE{K ITA NO. 3965 /MUM/201 3 ASSESSMENT YEAR: - 2006 - 07 THE CLEARING CORPORATION OF INDIA LTD. FINAL PLOT NO. 822, COLLEGE LANE, OFF SK BOLE ROAD, DADAR (WEST) MUMBAI 400 028. VS.` THE ASSISTANT COMMISSIONER OF INCOME TAX, RANGE 7(3) MU MBAI. PAN: AABCT4143P APPELLANT / VIHYKFKHZ RESPONDENT / IZR;FKHZ ORDER PER VIJAY PAL RAO, JM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 19.03.2013 OF CIT(A) FOR A.Y. 2006 - 07. THE ASSESSEE HAS RAISED FOLLOWING GROUND: - ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN CONFIRMING THE REOPENING OF THE ASSESSMENT PROCEEDINGS U/S 147 OF THE ACT WITHOUT THE ASSESSING OFFICER HAVING ANY NEW MATERIAL FACTS WHICH WERE NOT AVAILABLE WITH HIM AT THE TIME OF THE ORIGINAL ASSESSMENT PROCEEDINGS. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN CONFIRMING THE REOPENING OF THE ASSESSMENT ASSESSEE BY / FU/KKZFJRH FD VKSJ LS SHRI SHRI N. H. GAJARIA REVENUE BY / JKTLP DH VKSJ LS SHRI PREMANAND J. DATE OF HEARING 10.03.2015 DATE OF PRONOUNCEMENT 18 .03.2015 ITA NO. 3965/MUM/2013 ASSESSMENT YEAR: - 2006 - 07 2 | P A G E PROCEEDINGS U/S 147 OF THE ACT ON 12 ISSUES WHICH WOULD AMOUNT TO CHANGE OF OPINION RATHER ANY MATERIAL FACTS WHICH WERE NOT DISCLOSED BY THE APPELLANT DURING THE COURSE OF THE ORIGINAL ASSESSMENT PROCEEDINGS. 2. IN THE REASSESSMENT ORDER DATED 26.12.2011 PASSED U/S 143(3) R.W.S 147, THE ASSESSING OFFICER HAS MADE VARIOUS ADDITIONS AND ASSESSED THE TOTAL INCOME AT RS. 39.25 CRORES AS AGAINST THE TOTAL INCOME ASSESSED IN THE ORIGINAL ASSESSMENT AT RS. 35.56 CRORE. 3. THE ASSESSEE CHALLENGED THE ACTION OF ASSESSING OFFICER INCLUDING THE VALIDITY OF RE - OPENING OF THE ASSESSMENT BEFORE THE CIT(A). THE CIT(A) DELETED ALL THE ADDITIONS MADE BY ASSESSING OFFICER IN THE REASSESSMENT ORDER, HOWEVER, THE REOPENING OF THE ASSESSMENT WAS HELD TO BE VALID AND, THEREFORE, THE GROUND OF ASSESSEE CHALLENGING THE VALIDITY OF REOPENING OF ASSESSMENT WAS REJECTED. THE ASSESSEE IN THE PRESENT APPEAL HAS RAISED THE ONLY ISSUE OF VALIDITY OF REOPENING OF ASSESSMENT. 4. AT THE TIME OF HEARING THE LD. AUTHORIZED REPRESENTATIVE OF THE ASSESSEE HAS FAIRLY SUBMITTED THAT THOUGH ON MERITS THERE IS NO GRIEVANCE AGAINST THE ORDER OF CIT(A), HOWEVER, THE ASSESSEE FILED THIS APPEAL IN THE ANTICIPATION THAT THE REVENUE MAY FILED A CROSS APPEA L IN RESPECT OF THE ADDITION DELETED BY THE CIT(A). SINCE THE REVENUE HAS NOT FILED ANY APPEAL AGAINST THE IMPUGNED ORDER OF CIT(A), THEREFORE, THE GROUND RAISED IN THE ASSESSEES APPEAL ARE ONLY ACADEMIC IN NATURE. 5. HAVING REGARD TO THE FACTS AND CIRC UMSTANCES OF THE CASE, WE FIND THAT THE CIT(A) HAS GRANTED FULL RELIEF TO THE ASSESSEE ON MERITS SO FAR AS THE ADDITION MADE BY ASSESSING OFFICER. THEREFORE, WE DO NOT PROPOSE TO ITA NO. 3965/MUM/2013 ASSESSMENT YEAR: - 2006 - 07 3 | P A G E ADJUDICATE THE GROUND OF VALIDITY OF REOPENING OF ASSESSMENT, BEING ACADEMIC IN NATURE. 6 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DI SMISSED ORDER PRONOUCNED IN THE OPEN COURT ON THIS 18 DAY OF MARCH 2015 VKNS'K DH ?KKS'K.KK [KQYS U;K;KY; ES FNUKAD 18 EKPZ 2015 DKS DH XBZA SD/ - SD/ - ( RAJENDRA ) (VIJAY PAL RAO) ( ACCOUNTANT MEMBER / YS[KK LNL; ) (JUDICIAL MEMBER/ U;KF;D LNL; ) MUMBAI DATED 18 .03.2015 SKS SR. P.S, COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CONCERNED CIT(A) 4. THE CONCERNED CIT 5. THE DR, C BENCH, ITAT, MUMBAI BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI
Mehul