M/s Krishnarjuna Par Boiled Rice Mills Pvt.Ltd, Khammam V. THE ACIT, Khammam

ITA 575/HYD/2006

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 3089 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 1 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-07-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 13-07-2010
• Assessment Year: 2002-2003
• Appeal Filed On: 24-05-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R B NAIK
• Assessee Lawyers: M V ANIL KUMAR
• Keywords: Valuation report
• Section: 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE SHRI N.R.S. GANSAN, JUDICIAL MEMBER AND SHRI CHANDRA POOJARI ACCOUNTANT MEMBER ITA.575/HYD/2006 ASSESSMENT YEAR 2002-03 M/S KRISHNARJUNA PAR BOILED RICE MILLS (P) LTD., KHAMMAM (PAN AA CCK 3261 E) VS ACIT, CIRCLE I, KHAMMAM (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI M.V. ANIL KUMAR RESPONDENT BY : SHRI R.B. NAIK, DR O R D E R PER: CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL PREFERRED BY THE ASSESSEE IS DIRECTED AGA INST THE ORDER PASSED BY THE CIT(A)-VIJAYAWADA, DATED 16.3.200 7 AND PERTAINS TO THE ASSESSMENT YEAR 2002-03. 2. THE ASSESSEE RAISED VARIOUS GROUNDS ON MERIT IN ITS AP PEAL. FURTHER THE ASSESSEE RAISED ADDITIONAL GROUND STATING THA T ON THE BASIS OF AVAILABLE INFORMATION THE ASSESSING OFFICER HAD NO GR OUND TO BELIEVE THAT THE INCOME OF THE ASSESSEE FOR THE RELEVANT ASSESSMENT YEAR HAD ESCAPED ASSESSMENT EXCEPT THE DEPARTMENT VALUATION REPORT AND CONSEQUENTLY ERRED IN ISSUING A NOTICE U/S 148 OF THE IT ACT. 3. THE ASSESSEES COUNSEL SUBMITTED THAT THIS GROUND WAS NO T RAISED BEFORE THE CIT(A). BEING THIS IS A LEGAL GROUN D AND THE ASSESSEE WAS NOT PROPERLY ADVISED BY THE EARLIER COUNSEL, AS SUCH , THE ASSESSEE 2 2 WAS UNABLE TO RAISE THIS GROUND BEFORE THE LOWER AUTH ORITIES AND PRAYED TO ADMIT THIS GROUND AND ADJUDICATE THE SAME. 4. THE DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT H E HAS NO OBJECTION FOR ADMISSION OF THIS GROUND AND PRAYED THAT THE ISSUE IN THE GROUND MAY BE SET ASIDE TO THE FILE OF CIT(A) FOR CONSI DERATION. 5. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE M ATERIAL AVAILABLE ON RECORD. WE HAVE ALSO GONE THROUGH THE A DDITIONAL GROUND RAISED BY THE ASSESSEE FOR THE FIRST TIME BEFORE US. WE A RE SATISFIED WITH THE REASONS ADVANCED BY THE ASSESSEE IN ITS PETITION FOR NO T RAISING THIS GROUND BEFORE THE LOWER AUTHORITIES. WE ARE INCLINED TO ADMIT THE ADDITIONAL GROUND. SINCE THE CIT(A) HAD NO OCCASION T O CONSIDER THIS GROUND, WE SET ASIDE THIS ISSUE TO THE FILE OF CIT(A) FO R FRESH CONSIDERATION. ACCORDINGLY, THE ISSUE IS SET ASIDE TO THE FILE OF CIT(A) TO ADJUDICATE THE ADDITIONAL GROUND, THEREUPON DEAL WI TH THE OTHER ISSUES ON MERIT IF REQUIRED. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWE D FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT 13. 7.2010 SD/- SD/- N.R.S. GANESAN CHANDRA POOJARI JUDICIAL MEMBER ACCOUNTANT MEMBER DATED THE 13 TH JULY, 2010 3 3 COPY FORWARDED TO: 1. M/S KRISHNARJUNA PAR BOILED RICE MILLS (P) LTD., WA RANGAL CROSS ROADS, KHAMMAN 2. THE ACIT/JCIT, CIRCLE 1, KHAMMAM 3. CIT(A)- VIJAYAWADA & KHAMMAN. 4. CIT, HYDERABAD 5. THE D.R., ITAT, HYDERABAD. NP