Tidewater Marine International Inc., New Delhi V. Addl. DIT, Dehradun

ITA 5775/DEL/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58842 (ITAT-DELHI)
• Duration Of Justice: 2 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-03-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Next Hearing Date: 07-12-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 26-12-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRS REENA S PURI
• Section: 234B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH H DELHI BEFORE SHRI U.B.S. BEDI AND SHRI K.G. BANSAL ITA NO. 5289(DEL)/2010 ASSESSMENT YEAR: 2007-08 & ITA NO. 5775(DEL)/2011 ASSESSMENT YEAR: 2008-09 TIDEWATER MARINE INTERNATIONAL INC. ADDITIONAL DIRECTOR OF INCOME C/O NANGIA &COMPANY, VS. TAX, INTERNATIONAL TAXATION, CHARTERED ACCOUNTANTS, DEHRADUN. SUITE-4A, PLAZA M-6, JASOLA, NEW DELHI-110025. (APPELLANT) (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY: MRS. REENA S. PURI, CIT, D.R. DATE OF HEARIN G : 06.03.2012 DATE OF PRONOUN CEMENT: 06.03.2012 ORDER PER K.G. BANSAL : AM IN APPEAL NO. 5775(DEL)/2011, THE ASSESSEE HAS TAKEN UP FOLLOWING GROUNDS:- (I) THAT THE ASSESSING OFFICER HAS ERRED ON FACTS AND IN LAW IN COMPLETING ASSESSMENT UNDER SECTION 144C/143(3) OF THE INCOME-TAX ACT, 1961 (THE ACT) AT AN INCOME OF RS. 85,627,420/- AS AGAINST THE INCOME OF RS. 71,900,89 0/- RETURNED BY THE APPELLANT. ITA NO. 5289(DEL)/2010 & ITA NO. 5775(DEL)/2011 2 (II) THAT THE ASSESSING OFFICER HAS ERRED ON FACTS AND IN LAW IN HOLDING THAT REVENUES OF RS. 37,049,514/- ARISING FROM LETTING OUT EQUIPMENT USED IN THE EXPLORATION/PROSPECTING/E XTRACTING OF MINERAL OIL WERE ROYALTY PAYMENTS UNDER SECTION 9(1)(VI) OF THE ACT AS OPPOSED TO REVENUES CHARGEABLE TO TAX IN T ERMS OF SECTION 44BB OF THE ACT. (III) THAT THE ASSESSING OFFICER HAS ERRED ON FACTS AND IN LAW IN HOLDING THAT INCOME FROM THE AFORESAID REVENUES O F RS. 37,049,514/- WAS TO BE COMPUTED BY ADOPTING A P RESUMPTIVE PROFIT RATE OF 25 PER CENT. (IV) THAT THE ASSESSING OFFICER HAS ERRED ON FACTS AND IN LAW IN LEVYING INTEREST UNDER SECTION 234B OF THE ACT ESPECIALLY WHEN THERE WAS NO LIABILITY ON THE ASSESSEE TO PAY AD VANCE TAX UNDER SECTION 209(1)(D) OF THE INCOME-TAX ACT, 1961. 2. THE CASE WAS FIXED FOR HEARING ON 27.02.201 2. THE LD. COUNSEL FOR THE ASSESSEE, SHRI AMIT ARORA, FILED A LETTER T HAT HE IS IN THE PROCESS OF COLLATING AND COLLECTING EVIDENCE TO BE FILED IN THE FORM OF PAPER BOOK. THEREFORE, ADJOURNMENT WAS SOUGHT AT ANY OTHER DATE CONVENIENT TO THE BENCH. THE CASE WAS ADJOURNED TO 06.03.2012, A DATE INTIMATED TO HIM IN THE OPEN COURT. HE ALSO FILED A LETTER TO T HE EFFECT THAT THE APPEAL FOR ASSESSMENT YEAR 2007-08 IS PENDING FOR DISPOSAL BEFORE THE TRIBUNAL. IT WAS REQUESTED THAT THE TWO APPEALS MAY BE CONSO LIDATED. ACCORDINGLY, THE APPEALS WERE CONSOLIDATED. HOWEVER, WHEN THE CAS E WAS CALLED FOR HEARING ON 06.03.2012, NONE ATTENDED ON BEHALF OF THE ASSESSEE. NO APPLICATION FOR ADJOURNMENT HAS ALSO BEEN FILED. IN THESE CIRCUMSTANCES, THE APPEALS ARE LIKELY TO BE DISMISSED IN LIMINE FOR NON-PROSECUTION, IN ITA NO. 5289(DEL)/2010 & ITA NO. 5775(DEL)/2011 3 THE LIGHT OF THE DECISION IN THE CASE OF CIT VS. MULTIPLAN INDIA (P) LTD., 38 ITD 320(DEL) AND ESTATE OF LATE TUKAJIRAO HOLKA R VS. CWT, 223 ITR 480 (M.P). RESPECTFULLY FOLLOWING THESE CASES , THE APPEALS ARE DISMISSED. SD/- SD/- (U.B.S. BEDI) (K.G. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER SP SATIA COPY OF THE ORDER FORWARDED TO:- TIDEWATER MARINE INTERNATIONAL INC., NEW DELHI. ADDITIONAL DIRECTOR OF INCOME-TAX, INTERNATIONAL T AXATION, DEHRADUN. CIT(A) CIT, THE D.R., ITAT, NEW DELHI. ASSISTANT REGISTRAR.