VINCENT & CO P LTD, TRICHY V. ACIT COMPANY CIRCLE-1(1), TRICHY

ITA 546/CHNY/2020

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 9068 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-11-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 15-03-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Principle of natural justice
• Section: 143(3)

Judgement Text

आयकर अपीलीय अिधकरण, ‘बी’ (एस एम सी) ᭠यायपीठ, चे᳖ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ (SMC) BENCH, CHENNAI Įी महावीर ͧसंह, उपाÚय¢ के समᭃ BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT आयकर अपील सं./ITA No.: 546/CHNY/2020 िनधाᭅरण वषᭅ /Assessment Year: 2004-05 M/s. Vincent & Co. P. LTd., No.6, Madurai Road, Trichy – 620 001. PAN : AAACV 2977L v. The ACIT, Company Circle -1(1), No.44, Willams Road, Trichy- 620001. (अपीलाथᱮ/Appellant) (ᮧ᭜यथᱮ/Respondent) अपीलाथᱮ कᳱ ओर से/Appellant by : Shri Arjun Raj, CA for Shri S. Sridhar, Advocate ᮧ᭜यथᱮ कᳱ ओर से/Respondent by : Shri B. Sajive, JCIT स ु नवाई कȧ तारȣख/Date of Hearing : 09.11.2021 घोषणा कȧ तारȣख/Date of Pronouncement : 09.11.2021 आदेश /O R D E R This appeal by the assessee is arising out of the order of Commissioner of Income Tax (Appeals)-1, Trichy, in ITA No.158/2009-10/CIT(A)-1/TRY vide order dated 27.12.2019. The Assessment was framed by ACIT, Company Circle 1, Trichy for the assessment year 2004-05 vide order dated 24.12.2009 U/s 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’). 2 I.T.A. No.546/Chny/2020 2. At the outset, the ld.counsel for the assessee stated that the CIT(A) has passed the order ex-parte, passed in violation of principles of natural justice. 3. I have gone through the order of CIT(A), who first decided the appeal ex-parte but the CIT(A) has not at all discussed about the facts of the case on merits. The relevant adjudication by CIT(A) in Para 3.2 & 3.4 reads as under:- “3.2 Only issue in this case is regarding taxability u/s.115JB of the Act on book profits, which have been computed without including capital gains on sale of shares. This issue has been decided against the assessee by ITAT Bangalore [ITA 1659/1660/1861 & 1862/203] which has allowed benefit of indexation to assessee while computing the mat liability, as has been done in this case. The relevant extracts of this judgement as under: ...... ...... 3.3...... 3.4 AR of assessee, Mr. S. Sridhar, CA’s have not responded to notices dated 09.11.2016 and then again on 27.12.2019 and hence the matter is decided on the merits of the case.” 4. As the CIT(A) passed ex-parte order and moreover nothing was discussed on merits, I deem it fit to remand the matter back to the file of the CIT(A) for fresh adjudication. When these facts was pointed out to ld. senior Department Representative, he could not controvert the above stated position. In the facts and 3 I.T.A. No.546/Chny/2020 circumstances, I set aside the order of CIT(A) and remand the matter back to his file for fresh consideration. 5. In the result, the appeal of the assessee is allowed for statistical purpose Order pronounced in the open court on 9 th November, 2021 at Chennai. Sd/- (महावीर ͧसंह ) (Mahavir Singh) उपाÚय¢ /Vice President चे᳖ई/Chennai, ᳰदनांक/Dated, the 9 th November, 2021 RSR आदेश कᳱ ᮧितिलिप अᮕेिषत/Copy to: 1. अपीलाथᱮ/Appellant 2. ᮧ᭜यथᱮ/Respondent 3. आयकर आयुᲦ (अपील)/CIT(A) 4. आयकर आयुᲦ /CIT 5. िवभागीय ᮧितिनिध/DR 6. गाडᭅ फाईल/GF.