M/s Naraina Institute of Management Studies Pvt. Ltd., Kanpur V. Dy. Commissioner of Income Tax-6, Kanpur

ITA 535/LKW/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2542 (ITAT-LUCKNOW)
• Duration Of Justice: 1 year(s) 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 10-10-2018
• Assessment Year: 2009-2010
• Appeal Filed On: 18-08-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: J S MINHAS
• Assessee Lawyers: B P YADAV COST ACCOUNTANT
• Keywords: Revised return

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A , LUCKNOW BEFORE SHRI. N .S. SAINI , ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER ITA NO. 535/LKW/2017 ASSESSMENT YEAR: 2009 - 10 NARAINA INSTITUTE OF MANAGEMENT STUDIES PVT. LTD. HIG - 1C - SHYAM NAGAR KANPUR V. DCIT RANGE 6 KANPUR T AN /PAN : AACCN2356B (APP ELL A NT) (RESPONDENT) APP ELL ANT BY: SHRI B. P. YADAV, COST ACCOUNTANT RESPONDENT BY: SHRI J. S. MINHAS, CIT (DR) DATE OF HEARING: 10 10 201 8 DATE OF PRONOUNCEMENT: 31 10 201 8 O R D E R PER N.S. SAINI , A .M : THIS IS AN APPEAL PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A) - II, KANPUR DATED 24/5/2017. GROUND NO.1 OF THE APPEAL OF THE ASSESSEE READS AS UNDER: - 1. BECAUSE THE 'CIT (A)' HAS ERRED IN LAW AND FAILED TO ADJUDICATE WHILE SUSTAINING THE VALIDITY OF INITIATION OF PROCEEDINGS U/S.263/143(2), MERELY ON THE GROUND THAT APPELLANT NEITHER PRESSED NOR CHALLENGED THE ORDER PASSED U/S.263 DT.28.03.2014, BEFORE ANY SUPERIOR AUTHORITY. 2 . THE LD. CIT(A) DISMISSED THE GROUND OF APPEAL OF THE ASSESSEE OBSERVING THAT THIS GROUND OF APPEAL WAS NOT PRESSED BY THE ASSESSEE. HENCE, THERE CAN BE NO GRIEVANCE OF THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A), THEREFORE, THIS GROUND OF APPEAL OF THE ASSESSEE IS DISMISSED. ITA NO.535/LKW/2017 PAGE 2 OF 4 3 . GROUND NO.2 READS AS UNDER: - 2. BECAUSE 'CIT (A)' HAS ERRED IN LAW AND ON FACTS IN SUSTAINING THE ADDITION OF RS.9907/ - WHICH WAS PENALTY IMPOSED ON DEDUCTOR NOT ON THE APPELLANT, AND ALSO WRONG TO SAY NOT PRESSED BY THE APPELLANT. 4 . THE LD. CIT(A) HAS OBSERVED THA T THIS GROUND OF APPEAL WAS NOT PRESSED BY THE ASSESSEE BEFORE HIM. HENCE, THERE CAN BE NO GRIEVANCE OF THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A), THEREFORE, THIS GROUND OF APPEAL OF THE ASSESSEE IS DISMISSED. 5 . GROUND NO.3 READS AS UNDER: - 3. BECAUSE LO OKING TO THE MATERIAL AND INFORMATION ON RECORD, THE L D. 'CIT (A)' WAS ALSO FAILED TO ISSUE DIRECTION TO THE ASSESSING OFFICER, TO AVOID DOUBLE T AXATION, FOR DELETION OF R'S.6, 42,142/ - FROM THE TOTAL INCOME OF AY.2011 - 12, WHERE SAID INCOME HAS ALREADY BEEN INCLUDED. 6 . THE BRIEF FACTS OF THE CASE ARE THAT ASSESSING OFFICER OBSERVED THAT ON THE ISSUE OF UNDERSTATEMENT OF RECEIPT OF INTEREST OF RS.6,42,142/ - , ASSESSEE IN ITS REPLY DATED 20/3/2015 HAS STATED THAT THOUGH RECEIPT BELONGS TO ASSESSMENT YEAR 2009 - 10, THE SAME WAS CONSIDERED IN REVISED RETURN FOR ASSESSMENT YEAR 2011 - 12. ASSESSING OFFICER OBSERVED THAT AS PER SECTION 4 OF THE ACT PERIOD FOR INCOME TO BE TAXED IS THE MOST VITAL ASPECT OF TAXATION. AS THIS INCOME PERTAINS TO PREVIOUS YEAR 2008 - 09, IT C ANNOT BE CONSIDERED IN PREVIOUS YEAR 2010 - 11, THEREFORE, HE ADDED RS.6,42,142/ - TO THE INCOME OF THE ASSESSEE. 7 . ON APPEAL, LD. CIT(A) HELD THAT BEFORE HIM ASSESSEE HAS ADMITTED THAT INTEREST INCOME OF RS.6,42,142/ - WAS NOT DISCLOSED IN ASSESSMENT YEAR 2009 - 10 BUT WAS INADVERTENTLY DISCLOSED IN ASSESSMENT YEAR 2011 - 12 AND THAT HE AGREED WITH THE OPINION OF THE ASSESSING ITA NO.535/LKW/2017 PAGE 3 OF 4 OFFICER THAT INCOME HAS TO BE TAXED IN ASSESSMENT YEAR 2009 - 10. HENCE, HE CONFIRMED THE ADDITION. 8 . THE ONLY GRIEVANCE OF THE LD. A.R. OF THE ASSESSEE BEFORE US IS THAT SAME INTEREST INCOME OF RS.6,42,142/ - CANNOT BE TAXED TWICE , ONCE IN PRESENT ASSESSMENT YEAR 2009 - 10 AND AGAIN IN ASSESSMENT YEAR 2011 - 12. THE CONTENTION OF THE LD. A.R. OF THE ASSESSEE IS THAT IF THE INCOME IS TAXED IN ASSESSME NT YEAR 2009 - 10, THEN THE SAME SHOULD BE DELETED IN ASSESSMENT YEAR 2011 - 12. 9 . THE LD. D.R. ALSO AGREED WITH THE ABOVE SUBMISSION OF THE LD. A.R. OF THE ASSESSEE. 10 . AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERUSING THE MATERIALS ON RECORD, WE ARE OF THE CON SIDERED OPINION THAT THE MATTER SHOULD BE RESTORED BACK TO THE FILE OF THE ASSESSING OFFICER FOR LIMITED PURPOSE TO EXAMINE IF THE INTEREST INCOME OF RS.6,42,142/ - IS TAXED IN PRESENT ASSESSMENT YEAR 2009 - 10 AND THE SAME HAS BEEN INCLUDED BY THE ASSESSEE I N ASSESSMENT YEAR 2011 - 12, THEN THE SAME SHOULD BE DELETED IN ASSESSMENT YEAR 2011 - 12 AS THE SAME INCOME CANNOT BE TAXED TWICE. WITH THESE DIRECTIONS, GROUND NO.3 OF APPEAL OF THE ASSESSEE IS ALLOWED. 11 . IN THE RESULT, APPEAL OF THE ASSESSEE IS PARTLY ALLOWE D. ORDER PRONOUNCED IN ACCORDANCE WITH RULE 34(4) BY PUTTING ON NOTICE BOARD ON 31 ST OCTOBER, 2018. SD/ - SD/ - [PARTHA SARATHI CHAUDHURY] [ N.S. SAINI ] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 31 ST OCTO BER , 201 8 JJ: 1010 ITA NO.535/LKW/2017 PAGE 4 OF 4 COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT(A) 4 . CIT 5 . DR