Appeal details
Counselvise Citation
[2014] 140 COUNSELVISE.COM (IT) 77338 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 month(s) 5 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
09-06-2014
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
B
Next Hearing Date
09-06-2014
Assessment Year
2009-2010
Appeal Filed On
03-04-2014
Judgement Text
, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , ! '# , $ !%' !& BEFORE DR. O.K. NARAYANAN, VICE PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER ./ I.T.A. NOS.800 & 801/MDS/2014 ( / ASSESSMENT YEARS : 2005-2006 &2009-2010) M/S. CITI FINANCIAL RETAIL SERVICES (I) LTD, 117, RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI 600 004. [PAN:AAACN2379N] ( #' /APPELLANT) VS THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE-I(3), CHENNAI. ( ()#' /RESPONDENT) / APPELLANT BY : SHRI. V.S. JAYAKUMAR, ADVOCATE / RESPONDENT BY : SHRI. GURU BHASHYAM, IRS, JCIT. /DATE OF HEARING : 09.06.2014 !' /DATE OF PRONOUNCEMENT : 09.06.2014. %* / O R D E R PER DR. O.K. NARAYANAN, VICE PRESIDENT THESE TWO APPEALS ARE FILED BY THE ASSESSEE. THE RELEVANT ASSESSMENT YEARS ARE 2005-06 AND 2009-2010. THE APP EALS ARE DIRECTED AGAINST THE ORDERS PASSED BY THE COMMISSIO NER OF INCOME TAX I.T.A.NO800 &801/MDS/2014. :- 2 -: (APPEALS)-II AT CHENNAI, ON 24.01.2014. THE APPEAL S ARISE OUT OF ASSESSMENT COMPLETED U/S. 143(3) OF THE INCOME TAX ACT, 1961. 2. AS FAR AS THE ASSESSMENT YEAR 2005-06 IS CONCERNED, THE GROUND RAISED BY THE ASSESSEE IS LIABLE TO THE DISMISSED A S COMMISSIONER OF INCOME TAX (APPEALS) HAS DECIDED THE FIRST APPEAL F OLLOWING THE ORDER OF THE TRIBUNAL PASSED FOR ASSESSMENT YEAR 2002-03 IN ITA NO.361/MDS/2006 DATED 27.09.2007. ACCORDINGLY, ITA NO.800/MDS/2014 IS DISMISSED. 3. AS FAR AS APPEAL FOR THE ASSESSMENT YEAR 2009-2010 IS CONCERNED, THE GRIEVANCE OF THE ASSESSEE IS AGAINST DISALLOWANCE OF BROUGHT FORWARD LOSS AND NON CONSIDERATION OF TDS C REDIT AND ADVANCE TAX PAYMENT. AFTER HEARING BOTH SIDES, WE ARE OF T HE OPINION THAT THIS ISSUE HAS TO BE RECONSIDERED BY THE ASSESSING AUTHO RITY IN THE LIGHT OF ASSESSMENT ORDER AS WELL AS IN THE LIGHT OF EVIDENC E AVAILABLE WITH THE ASSESSEE. ACCORDINGLY, THE CASE FOR THE IMPUGNED A SSESSMENT YEAR IS REMANDED BACK TO THE ASSESSING OFFICE TO RECONSIDER BOTH ISSUES IN THE LIGHT OF MATERIAL OR EVIDENCE THAT MAY BE PRODUCED BY THE ASSESSEE. I.T.A.NO800 &801/MDS/2014. :- 3 -: THE ASSESSING OFFICER HAS TO GIVE SUFFICIENT OPPORT UNITY TO THE ASSESSEE FOR PRESENTING HIS CASE. 4. THE APPEAL FOR THE ASSESSMENT YEAR 2009-2010 IS TRE ATED AS PARTLY ALLOWED. 5. IN RESULT, APPEAL FILED BY THE ASSESSEE FOR THE ASS ESSMENT YEAR 2005-2006 IS DISMISSED AND APPEAL FILED FOR THE ASS ESSMENT YEAR 2009- 2010 IS PARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON MONDAY, THE 9 TH OF JUNE, 2014 AT CHENNAI. SD/- SD/- ( ! '# ) (VIKAS AWASTHY) $ !%' / JUDICIAL MEMBER ( . . . ) (DR. O.K. NARAYANAN) / VICE PRESIDENT DATED:9 TH JUNE, 2014. K.V #$ %& '& /COPY TO: 1. ( APPELLANT 2. / RESPONDENT 3. ) ( )/CIT(A) 4. ) /CIT 5. &*+ , /DR 6. +- . /GF. I.T.A.NO800 &801/MDS/2014. :- 4 -:
