VSN Automobiles Private Limited, Hyderabad, Secunderabad V. ACIT(OSD), Range-3, Hyderabad, Hyderabad

ITA 710/HYD/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 2317 (ITAT-HYDERABAD)
• Duration Of Justice: 7 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 25-04-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAMAKRISHNA BANDI
• Section: 115JB

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO. 710/HYD/2017 ASSESSMENT YEAR: 2011-12 VSN AUTOMOBILES PVT. LTD., SECUNDERABAD. PAN AADCV 0973D VS. ASST. COMMISSIONER OF INCOME- TAX (OSD), RANGE 3, HYD. (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SHRI RAMAKRISHNA BANDI DATE OF HEARING : 30-11-2017 DATE OF PRONOUNCEMENT : 30-11-2017 O R D E R PER S. RIFAUR RAHMAN, A.M.: THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST O RDER OF CIT(A) 5, HYDERABAD, DATED 27/02/ 2017 FOR AY 2011-12. 2. INITIALLY, THIS APPEAL WAS FIXED FOR HEARING ON 29/08/2017, NONE APPEARED ON BEHALF OF THE ASSESSEE AND THE CASE WAS ADJOURNED TO 30/11/2017, FOR WHICH NOTICE OF HEARING WAS SENT TH ROUGH RPAD WITH ACKNOWLEDGMENT CARD, THE PROOF OF WHICH IS ON RECOR D WITH THE SIGNATURE OF THE ASSESSEE THAT THE NOTICE WAS RECEI VED ON 20/09/2017. HOWEVER, ON THE DATE OF HEARING OF THIS APPEAL TODA Y I.E. ON 30/11/2017, NONE APPEARED ON BEHALF OF THE ASSESSEE NOR THERE IS A REQUEST FOR ADJOURNMENT OF THE CASE. IN THESE CIRCU MSTANCES, WE ARE OF THE VIEW THAT THE ASSESSEE IS NOT INTERESTED IN PROSECUTING HIS APPEAL. IT HAS BEEN HELD BY THE HONBLE SUPR EME COURT IN THE CASE OF B.N. BHTTACHARGEE & ANR., 118 ITR 46 1 THAT APPEAL DOES NOT MEAN ONLY FILING OF MEMO OF APPEAL BUT ALSO PURSUING IT EFFECTIVELY. IN CASES WHERE THE ASSESSEE DOES NOT WANT TO PURSUE THE APPEAL, COURT/TRIBUNAL HAVE INHERENT POWER TO DISMI SS THE APPEAL FOR 2 ITA NO. 710 /HYD/2017 DARUL YATHAMA HYDERABAD DECCAN, HYD. NON-PROSECUTION AS HELD BY HONBLE HIGH COURT OF MU MBAI IN THE CASE OF M/S CHEMIPOL VS. UNION OF INDIA IN EXCISE APPEAL NO. 62 OF 2009. THEREFORE, RESPECTFULLY FOLLOWING THE DECISION OF T HE TRIBUNAL IN THE CASE OF MULTIPLAN (INDIA) LTD., (38 ITD 320) AND MA DHYA PRADESH HIGH COURT IN LATE TUKOJIRAO HOLKAR (223 ITR 480), WE DI SMISS THIS APPEAL OF THE ASSESSEE FOR WANT OF PROSECUTION. 3. EVEN ON MERITS, IT IS OBSERVED THAT AO INITIAT ED PENALTY PROCEEDINGS FOR LEVY OF PENALTY U/S 271(1)(C) OF TH E ACT FOR FAILURE OF ASSESSEE TO COMPUTE BOOK PROFIT AND MAT PAYABLE. TH E AO HELD THAT ASSESSEE HAD CONCEALED ITS INCOME AND FURNISHED INA CCURATE PARTICULARS. WHEN THE ASSESSEE CARRIED THE MATTER I N APPEAL BEFORE THE CIT(A), THE CIT(A) HELD THAT IT WAS AN ADMITTED CASE OF LOSS RETURN WITHOUT COMPLYING WITH PROVISIONS OF SECTION 115JB AND THE ASSESSE WAS LIABLE TO PAY MAT AND NON-COMPLIANCE TH EREOF WOULD RESULT IN IMPOSITION OF PENALTY IN TERMS OF SECTION 271(1)(C) OF THE ACT. HE ACCORDINGLY, CONFIRMED THE PENALTY LEVIED BY THE AO. 4. CONSIDERED THE SUBMISSIONS OF THE DR AND MATERIAL F ACTS ON RECORD. SINCE, THERE IS NO REPRESENTATION FROM THE ASSESSEE AND THE FINDINGS OF THE REVENUE AUTHORITIES ARE UNCONTROVER TED, WE UPHOLD THE ORDER OF CIT(A) AND DISMISS THE APPEAL OF THE ASSES SEE. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 30 TH NOVEMBER, 2017. SD/- SD/- (P. MADHAVI DEVI) (S. RIFAUR RAHMAN) JUDICIAL MEMBER AC COUNTANT MEMBER HYDERABAD, DATED: 30 TH NOVEMBER, 2017. KV 3 ITA NO. 710 /HYD/2017 DARUL YATHAMA HYDERABAD DECCAN, HYD. COPY TO:- 1) VSN AUTOMOBILES PVT. LTD., NO. 5-3-372, NEW MODI MANSION, R.P. ROAD, SECUNDERABAD 500 003. 2) ACIT(OSD), RANGE 3, HYDERABAD. 3) CIT (A) - 5, HYDERABAD. 4) PR. CIT 5, HYDERABAD. 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., H YDERABAD. 6) GUARD FILE