M/s Rishi Constructions, Bhopal V. The Income Tax Officer 3(1), Bhopal

ITA 612/IND/2010

• Counselvise Citation: 61222714 RSA 2010
• Duration Of Justice: 10 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-10-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2005-2006
• Appeal Filed On: 27-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARUN DEWAN
• Keywords: Revised return
• Section: 143(3); 80IB

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI R.C. SHARMA, ACCOUNTANT MEMBER ITA NO.612/IND/2010 A.Y. 2005-06 M/S RISHI CONSTRUCTIONS BHOPAL PAN AABPR-2764H ... APPELLANT VS INCOME TAX OFFICER 3(1), BHOPAL ... RESPONDENT APPELLANT BY : SHRI NITIN KAUSHIK DEPARTMENT BY : SHRI ARUN DEWAN, SR. DR DATE OF HEARING : 18.10.2011 DATE OF PRONOUNCEMENT : 18.10.2011 O R D E R 2 PER JOGINDER SINGH THIS APPEAL IS BY THE ASSESSEE CHALLENGING THE IMPU GNED ORDER DATED 19.8.2010 OF THE LEARNED COMMISSIONER O F INCOME TAX (APPEALS) BHOPAL, ON THE GROUND THAT THE LEARNE D FIRST APPELLATE AUTHORITY ERRED IN REJECTING THE REVISED RETURN FILED BY THE ASSESSEE AND DISALLOWING THE CLAIM U/S 80IB OF THE ACT. THE CRUX OF ARGUMENTS ON BEHALF OF THE ASSESSEE IS IDENTICAL TO THE GROUND RAISED. ON THE OTHER HAND, THE LEARNED SENIOR DR DEFENDED THE IMPUGNED ORDER. 2. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PER USED THE MATERIAL AVAILABLE ON FILE. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE IS ENGAGED IN THE BUSINESS OF CONSTRUCTION , DECLARED TAXABLE INCOME OF RS. 1,18,000/- IN ITS RETURN FILE D ON 31.10.2005. THE RETURN WAS PROCESSED U/S 143(1)(A) VIDE INTIMATION DATED 30.8.2006. THEREAFTER, THE ASSESS EE FILED A REVISED RETURN ON 31.3.2007 WHEREIN THE ASSESSEE PR EPARED TWO SEPARATE TRADING AND PROFIT AND LOSS ACCOUNT ON E RELATING TO CONSTRUCTION ACTIVITY FOR WHICH THE ASSESSEE CLAIME D DEDUCTION 3 U/S 80IB OF THE ACT ON THE NET PROFIT OF RS.4,11,52 9/- AND ANOTHER ONE RELATING TO OTHER CONSTRUCTION WORK IN WHICH PROFIT OF RS. 80,400/- WAS SHOWN. THE ASSESSMENT WAS COMPLET ED U/S 143(3) AT THE TOTAL INCOME OF RS. 5,43.417/-. IN T HE IMPUGNED ORDER IT HAS BEEN MENTIONED THAT THOUGH THE ASSESSE E MADE THE CLAIM U/S 80IB IN THE REVISED RETURN BUT IN ITS WRITTEN SUBMISSIONS NO GROUND WAS RAISED FOR CONSIDERATION OF REVISED RETURN, CONSEQUENTLY, THE ASSESSING OFFICER TREATED THE REVISED RETURN TO BE INVALID AND DID NOT TAKE ANY COGNIZANC E OF THE SAME RESULTING INTO REJECTION OF CLAIM OF DEDUCTION U/S 80IB OF THE ACT. IN VIEW OF THESE FACTS AND WITHOUT GOING INTO MERITS OF THIS APPEAL, WE REMAND THIS APPEAL TO THE FILE OF T HE ASSESSING OFFICER FOR FRESH ADJUDICATION IN ACCORDANCE WITH L AW AND TO CONSIDER THE REVISED RETURN FILED BY THE ASSESSEE A FTER GIVING THE ASSESSEE A REASONABLE OPPORTUNITY OF BEING HEAR D TO THE ASSESSEE WITH FURTHER LIBERTY TO FURNISH EVIDENCE, IF ANY, IN SUPPORT OF ITS CLAIM. FINALLY, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. 4 ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE O F LEARNED REPRESENTATIVES FROM BOTH THE SIDES AT THE CONCLUSION OF THE HEARING. (R.C.SHARMA) (JOGINDER SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 18.10.2011 COPY TO: APPELLANT, RESPONDENT, CIT, CIT(A), DR, GU ARD FILE DN/-