Maheshwari Gems and Jewels India Private Limited, Hyderabad, Hyderabad V. ITO, Ward-16(3), Hyderabad, Hyderabad

ITA 42/HYD/2017

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 2316 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 25-07-2017
• Assessment Year: 2012-2013
• Appeal Filed On: 06-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MOHAN KUMAR SINGHANIADR
• Keywords: Principle of natural justice

Judgement Text

ITA NO 42 OF 2017 MAHESHWARI GEMS AND JEWELS INDIA P LTD HYDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.42/HYD/2017 (ASSESSMENT YEAR: 2012-13) M/S. MAHESHWARI GEMS & JEWELS INDIA P LTD HYDERABAD PAN: AAHCM 2585 L VS INCOME TAX OFFICER WARD 16(3) HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI SIDDHARTH TOSHNIVAL FOR REVENUE : SHRI MOHAN KUMAR SINGHANIA,DR O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2012-13. IN TH IS APPEAL, THOUGH THE ASSESSEE HAS RAISED AS MANY AS 8 GROUNDS OF APPEAL, THE MAIN GRIEVANCE OF THE ASSESSEE IS THAT THE ASSESSEE HAS NOT BEEN GIVEN SUFFICIENT OPPORTUNITY OF HEARIN G BEFORE COMPLETING THE ASSESSMENT AND THEREFORE, IT IS IN V IOLATION OF THE PRINCIPLES OF NATURAL JUSTICE. 2. AS THIS GROUND GOES TO THE ROOT OF THE MATTER, W E HAVE EXAMINED THE ASSESSMENT ORDER AND WE FIND THAT THE NOTICE FOR HEARING OF THE APPEAL ON 25.3.2015 HAS BEEN SERVED ON THE ASSESSEE ONLY ON 24.3.2015 AND THE ASSESSMENT ORDER WAS PASSED DATE OF HEARING : 25.07.2017 DATE OF PRONOUNCEMENT : 27.07.2017 ITA NO 42 OF 2017 MAHESHWARI GEMS AND JEWELS INDIA P LTD HYDERABAD PAGE 2 OF 2 ON 26.3.2015. FURTHER, WE ALSO FIND THAT THE ENTIRE CAPITAL OF THE ASSESSEE HAS BEEN BROUGHT TO TAX AND NOT THE SHARE PREMIUM ALONE. THE ASSESSEE HAS RAISED THE GROUND OF VIOLAT ION OF PRINCIPLES OF NATURAL JUSTICE BEFORE THE CIT (A), B UT THE CIT (A) HAS FAILED TO ADJUDICATE ON THE SAME. HENCE, WE ARE OF THE OPINION THAT IT IS CLEAR VIOLATION OF PRINCIPLES OF NATURAL JUST ICE AND THE ENTIRE ISSUE NEEDS TO BE RECONSIDERED BY THE AO ON MERITS. IN VIEW OF THE SAME, WE SET ASIDE THE ORDER OF THE CIT (A) AND THE AO AND REMAND THE PROCEEDING TO THE FILE OF THE AO FOR REC ONSIDERATION IN ACCORDANCE WITH LAW. NEEDLESS TO MENTION THAT THE A SSESSEE SHALL BE GIVEN A FAIR OPPORTUNITY OF HEARING AND ALSO TO PRODUCE ALL THE RELEVANT MATERIAL IN SUPPORT OF ITS CONTENTIONS. 3. IN THE RESULT, ASSESSEES APPEAL IS TREATED AS A LLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH JULY, 2017. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 27 TH JULY, 2017. VINODAN/SPS COPY TO: 1 SHRI SIDDHARTH TOSHNIVAL, ADVOCATE, O/O SHRI K.L. RATHI, ADVOCATE, 3-5-144/5 EDEN GARDEN, HYDERABAD 500001 2 INCOME TAX OFFICER WARD 16(3) HYDERABAD 3 CIT (A)-4 HYDERABAD 4 PR. CIT 4 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER