M/s Krishi Upaj Mandi Samiti, Sehore V. The ACIT, Bhopal

ITA 397/IND/2009

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 1539 (ITAT-INDORE)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-10-2009
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 12-10-2009
• Assessment Year: 2006-2007
• Appeal Filed On: 30-07-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V K KARAN
• Assessee Lawyers: S K KHANDELWAL
• Keywords: Depreciation
• Section: 11

Judgement Text

PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH : INDORE BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI V.K. GUPTA, ACCOUNTANT MEMBER PAN NO. : AAALK0364P I.T.A.NO. 397/IND/2009 A.Y. :2006-07 KRISHI UPAJ MANDI SAMITI, ACIT MANDI COMPOUND, VS RANGE 2(1), SEHORE, DISTRICT SEHORE BHOPAL APPELLANT RESPONDENT APPELLANT BY : SHRI S.K.KHANDELWAL, C.A. RESPONDENT BY : SHRI V.K.KARAN, SR. DR DATE OF HEARING : 12.10.2009 O R D E R PER GUPTA, A.M. THIS APPEAL FILED BY THE ASSESSEE ARISES OUT OF ORD ER OF THE LD. CIT(A)-I, BHOPAL, DATED 06.05.2009, FOR THE ASSESSM ENT YEAR 2006-07. 2. WE HAVE HEARD BOTH THE PARTIES AND HAVE ALSO PERUSE D THE MATERIAL AVAILABLE ON RECORD. 3. GROUNDS RAISED IN THIS APPEAL READ AS UNDER :- 1. THAT THE LD. CIT(A) ERRED IN SUSTAINING ADDITIO N OF RS. 52,17,909/- BEING TRANSFER TO STHAI NIDHI. THE LD. CIT(A) FAILED TO APPRECIATE THE FACT THAT IT IS A STATUTORY OBLIGATION ON THE PART OF THE ASSESSEE. T HE ADDITION IS ARBITRARY AND BAD IN LAW. THE SAID ADDI TION IS KINDLY DELETED. PAGE 2 OF 3 2. THAT THE LD. CIT(A) ERRED IN SUSTAINING ADDITION OF RS. 14,19,433/- BEING TRANSFER TO AARAKSHIT NIDHI. THE LD. CIT(A) FAILED TO APPRECIATE THE FACT THAT IT IS A STATUTORY OBLIGATION ON THE PART OF THE ASSESSEE. T HE ADDITION IS ARBITRARY AND BAD IN LAW. THE SAID ADDI TION IS KINDLY DELETED. 3. THAT THE LD. CIT(A) ERRED IN SUSTAINING AND ENHANCI NG THE ENTIRE ADDITION OF DEPRECIATION CLAIMED BY US O F RS. 35,29,935/-. THE LD. CIT(A) FAILED TO APPRECIAT E THE FACT ALL THE DETAILS OF ADDITION ETC. AND DETAI L CHART OF CALCULATION FOR DEPRECIATION WAS SUBMITTED BEFOR E THE A.O. THE SAID ADDITION IS KINDLY DELETED. 4. THE LEARNED COUNSEL FOR THE ASSESSEE, AT THE VERY O UT-SET, SUBMITTED THAT IN PARA 4.1 AT PAGE 3 OF THE APPELLA TE ORDER, THE LD. CIT(A) HAD HELD THAT INCOME OF THE ASSESSEE WAS LIABLE TO BE ASSESSED/COMPUTED AS PER THE PROVISIONS OF SECTIONS 11 TO 13 OF THE I NCOME-TAX ACT, 1961. HOWEVER, WHILE COMPUTING THE SAME, THESE OBSERVATIO NS WERE NOT GIVEN EFFECT TO. THE LEARNED COUNSEL FOR THE ASSESSEE, TH EREAFTER, SUBMITTED THAT INCOME AS PER THIS FINDING WAS TO BE COMPUTED IN TH E MANNER AS MENTIONED IN THE WRITTEN SYNOPSIS SUBMITTED BEFORE US. AT THIS STAGE, THE BENCH OPINED THAT THIS COMPUTATION NEEDED VERIFICAT ION. HENCE, ALL THE ISSUES RAISED IN APPEAL HAD TO BE RESTORED TO THE F ILE OF A.O. THE LD. CIT(A), HOWEVER, STATED THAT NO GROUND TO THIS EFFE CT HAD BEEN RAISED BY THE ASSESSEE IN THE MEMORANDUM OF APPEAL. HENCE, TH E ASSESSEE SHOULD HAVE FILED AN ADDITIONAL GROUND ONLY, THEN, THIS IS SUE COULD BE DISPOSED OF . WE, HOWEVER, ARE OF THE OPINION THAT AS FAR AS TH E ASPECT OF COMPUTATION PAGE 3 OF 3 AS PER SECTIONS 11 TO 13 OF THE ACT IS CONCERNED, T HE SAME IS NOT DISPUTED AND IT IS ALSO NOT IN DISPUTE THAT THE COMPUTATION OF INCOME HAS NOT BEEN DONE ACCORDINGLY. HENCE, FILING OF ADDITIONAL GROU ND WOULD ONLY RESULT INTO DELAY OF DISPOSAL OF THIS APPEAL WHICH IS NOT WARRANTED. HENCE, WE RESTORE ALL THE ISSUES RAISED IN THIS APPEAL TO THE FILE OF THE A.O. TO DECIDE THE ISSUE AFRESH AS PER LAW AFTER TAKING COGNIZANCE OF THE SUCH OBSERVATIONS OF THE LD. CIT(A). IT IS NEEDLESS TO M ENTION THAT WHILE DOING SO, THE A.O. SHALL GRANT AN ADEQUATE OPPORTUNITY OF HEARING TO THE ASSESSEE. 5. THUS, ALL THE ISSUES RAISED IN THIS APPEAL STAND AL LOWED FOR STATISTICAL PURPOSES. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE STA NDS ALLOWED FOR STATISTICAL PURPOSES. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 12 TH OCTOBER, 2009. SD/- SD/- (JOGINDER SINGH) (V. K. GUPTA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED :12 TH OCTOBER, 2009. CPU* 1213D19