M/s. Jyoti Power Transmission (P) Ltd., GONDAL V. The Assistant Commissioner of Income Tax, Cen. Circle-2, RAJKOT-GUJARAT

ITA 626/RJT/2012

• Counselvise Citation: 62624914 RSA 2012
• Duration Of Justice: 10 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 18-10-2013
• Assessment Year: 1999-2000
• Appeal Filed On: 04-12-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VILASH V SHINDE DR
• Assessee Lawyers: DM RINDANI
• Section: 40A(3); 234B

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBULAL; RAJKOT BENCH, RAJKOT .. .. BEFORE SHRI T. K. SHARMA JM AND SHRI D. K. S RIVASTAVA AM ITA NO. 626/RJT/2012 / ASSESSMENT YEAR : 1999-2000 M/S. JYOTI POWER TRANSMISSION (P) LTD. MATRU JYOT, OPP. AGRO PETROL PUMP, GONDAL PAN : AAACJ 9341 C ( / APPELLANT) THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT / RESPONDENT ! ' #$ / ASSESSEE BY SHRI D M RINDANI, CA % ! ' #$ / REVENUE BY SHRI VILASH V SHINDE, DR # & ' ! ( / DATE OF HEARING 18.10.2013 ) ! ( / DATE OF PRONOUNCEMENT 25.10.2013 / ORDER .. , / T. K. SHARMA, J. M. : THIS APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORDER DATED 26.10.2012 OF THE CIT(A)-IV , AHMEDABAD FOR THE ASSESSMENT YEAR 1999-2000. THE VARIOUS GROUNDS RAISED BY THE ASSESSEE IN ITS APPEAL ARE AS UNDER:- 1. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS )-IV, AHMEDABAD HAS ERRED DISMISSING THE APPEAL IS UNWARRANTED, UNJUSTI FIED AND BAD IN LAW. 2. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) -IV, AHMEDABAD HAS ERRED UPHOLDING THE DECISION OF THE ASSESSING OFFIC ER FOR MAKING ADDITION OF RS.2,47,821/- ON THE ALLEGED GROUND OF EXCESS STOCK IS UNWARRANTED, UNJUSTIFIED AND BAD IN LAW. 3. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) -IV, AHMEDABAD HAS ERRED UPHOLDING THE DECISION OF THE ASSESSING OFFIC ER IN RESPECT OF DISALLOWANCE OF RS.7,99,740/- U/S 40A(3) OF THE I.T. ACT IS UNWA RRANTED, UNJUSTIFIED AND BAD IN LAW. 4. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) -IV, AHMEDABAD HAS ERRED UPHOLDING THE DECISION OF THE ASSESSING OFFIC ER OF CHARGING INTEREST U/S 234A, 234B AND 234C IS UNWARRANTED, UNJUSTIFIED AND BAD IN LAW. 2. AT THE TIME OF HEARING BEFORE US, ON BEHALF OF A SSESSEE, SHRI D M RINDANI, CA APPEARED AND CONTENDED THAT THE VARIOUS GROUNDS RAI SED IN THIS APPEAL ARE NOT PRESSED. IN THIS VIEW OF THE MATTER, THE APPEAL OF THE ASSESSEE IS DISMISSED. 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON THE DATE MEN TIONED HEREINABOVE. SD/- SD/- ( *.$. ,% D. K. SRIVASTAVA ) ( .$. -. / T. K. SHARMA) $( #/% / ACCOUNTANT MEMBER #/% /JUDICIAL MEMBER /$- 0/1/ ORDER DATE 25.10.2013. /RAJKOT *BT 626-RJT-2012 - JYOTI POWER TRANSMISSION P LTD. 2 !'# $%'& / COPY OF ORDER FORWARDED TO:- 1. / APPELLANT- M/S. JYOTI POWER TRANSMISSION (P) LTD ., MATRU JYOT, OPP. AGRO PETROL PUMP, GONDAL 2. / RESPONDENT- ACIT, CENTRAL CIRCLE-2, RAJKOT 3. #151 & 6 / CONCERNED CIT, CENTRAL-II, AHMEDABAD 4. & 6 - / CIT(A)-IV, AHMEDABAD 5 . 9:; , , / DR, ITAT, RAJKOT 6 . ;* <= / GUARD FILE /$- #$ / BY ORDER TRUE COPY PRIVATE SECRETARY, ITAT, RAJKOT