Earth Minerals Company Limited, Jharsuguda V. DCIT, Rourkela Circle, Rourkela

ITA 63/CTK/2020

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0009 (ITAT-CUTTACK)
• Duration Of Justice: 4 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-06-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 30-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K BANDYOPADHYAY
• Keywords: Depreciation; Unabsorbed depreciation
• Section: 201

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM . / ITA NO. 63 /CTK/20 20 ( / ASSESSMENT YEAR : 20 1 2 - 201 3 ) EARTH MINERALS CO. LTD., PLOT NO .38(P), VILLAGE - KIRARAMA, POST - BANDHBAHAL, TEHSIL - LAKHANPUR, DISTRICT - JHARSUGUDA VS. DCIT, ROURKELA CIRCLE, ROURKELA PAN NO. : A ABCE 2015 K ( / APPELLANT ) .. ( / RESPONDENT ) /ASSESSEE BY : SHRI MOHIT SHETH, ADVO CATE /REVENUE BY : SHRI S.K.BANDYOPADHYAY , DR / DATE OF HEARING : 17 / 0 6 /20 20 / DATE OF PRONOUNCEMENT : 18 / 06 /20 20 / O R D E R PER L.P.SAHU , A M : TH IS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORD ER DATED 10.01.2020 PASSED BY THE CIT(A), CUTTACK FOR THE ASSESSMENT YEAR 201 4 - 201 5 . 2. AT THE OUTSET, LD. AR SUBMITTED THAT THE CIT(A) HAS PASSED THE EX - PARTE ORDER WITHOUT PROVIDING ANY OPPORTUNITY OF HEARING. THEREFORE, THE LD. AR PRAYED FOR AN OPPORTUN ITY TO REPRESENT ITS CASE BEFORE THE CIT(A). 3. LD. DR RELIED ON THE ORDER OF CIT(A) AND SUBMITTED THAT THE CIT(A) HAS PASSED ORDER AFTER CONSIDERING THE MATERIAL AVAILABLE ON RECORD. HENCE, THE APPEAL OF THE ASSESSEE DESERVES TO BE DISMISSED. ITA NO. 63 /CTK/20 20 2 4. AFTER CONSIDERING THE SUBMISSIONS OF BOTH THE SIDES AND PERUS ING THE RELEVANT MATERIAL PLACED IN THE RECORD OF THE TRIBUNAL , W E FIND THAT THE CIT(A) HAS PASSED THE IMPUGNED ORDER EX - PARTE FOR WANT OF COMPLIANCE FROM THE ASSESSEE. THE CIT(A) IN ITS ORDER HAS ALSO NOTED THAT THE ASSESSEE HAS NOT DEDUCTED THE TAX AT SOURCE TOWARDS PAYMENT TO MCL AS RENT FOR USAGE OF RAILWAY SIDING. AS PER THE CIT(A) THE ASSESSEE HAS NOT OBTAINED DECLARATION FROM A CHARTERED ACCOUNTANT OF MCL IN A PRESCRIBED FORM STATING THAT THE SAID RECEIPT HAS BEEN ACCOUNTED FOR BY MCL IN ITS BOOKS OF ACCOUNT AND TAX HAS DULY BEEN PAID ON IT AND FURTHER SUCH FORM HAS TO BE FURNISHED BEFORE A PRESCRIBED AUTHORITY. LD. AR BEFORE US SUBMITTED THAT THE DEDUCTION FROM THE CURRENT YEARS INCOME OF TH E UNABSORBED BUSINESS LOSSES AND UNABSORBED DEPRECIATION BROUGHT FORWARD FROM PRECEDING ASSESSMENT YEARS AND CLAIMED IN THE RETURN OF INCOME FILED U/S.139(1) OF THE ACT. IT WAS ALSO SUBMITTED BY THE LD. AR THAT THE DECLARATION FROM THE CHARTERED ACCOUNTANT OF MCL IN A PRESCRIBED FORM HAS BE EN OBTAINED, HOWEVER, DUE TO SOME UNAVOIDABLE CIRCUMSTANCES, THE SAME COULD NOT BE PRODUCED BEFORE THE CIT(A) , THEREFORE, HE REQUESTED FOR AN OPPORTUNITY TO PRODUCE THE SAME BEFORE THE CIT(A) . CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN THE INTEREST OF JUSTICE, WE RESTORE THE APPEAL OF THE ASSESSEE TO THE FILE OF CIT(A) WITH A DIRECTION TO VERIFY TH E DECLARATION TO BE PRODUCED BY THE ASSESSEE AND PASS A ITA NO. 63 /CTK/20 20 3 SPEAKING AND REASONED ORDER CONSIDERING THE SUBMISSIONS OF THE ASSESSEE . NEEDLESS TO SAY , THE ASSESSEE SHALL BE PROVIDED REASONABLE OPPORTUNITY OF HEARING. THE ASSESSEE IS ALSO DIRECTED TO APPEAR BEFORE THE CIT(A) POSITIVELY AND COOPERATE WITH THE CIT(A) IN EARLY DISPOSAL OF THE CASE. 5 . IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES . ORDER PRONOUNCED IN THE OPEN COURT ON 18 / 06 / 20 20 . S D/ - ( C.M .GARG ) SD/ - (L.P.SAHU) / JUDICIAL MEMBER / ACCOUNTANT MEMBER CUTTACK ; DATED 18 /06 /20 20 PRAKASH KUMAR MISHRA, SR.P.S. / COPY OF THE ORDER FORWARDED TO : / BY ORDER, ( SENIOR PRIVATE S ECRETARY ) , /ITAT, CUTTACK 1. / THE APPE LLANT - EARTH MINERALS CO. LTD., PLOT NO.38(P), VILLAGE - KIRARAMA, POST - BANDHBAHAL, TEHSIL - LAKHANPUR, DISTRICT - JHARSUGUDA 2. / THE RESPONDENT - DCIT, ROURKELA CIRCLE, ROURKELA 3. ( ) / THE CIT(A), 4. / CIT 5. , , / DR, ITAT, CUTTACK 6. / GUARD FILE. //TRUE COPY//