Deepak Kumar Dhanraj & Sons (HUF), Chennai V. ITO, Non Corp Ward -4(3), Chennai

ITA 826/CHNY/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 1525 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 27-03-2019
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , A BENCH, CHENNAI [ , , BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ I.T.A.NO.826/CHNY/2019 ( [ [ / ASSESSMENT YEAR:2013-14) M/S. DEEPAK KUMAR DHANRAJ & SONS (HUF), NO.1A, SIVARAM SASTRY STREET, PARK TOWN, CHENNAI 600 003. VS THE INCOME TAX OFFICER, NON-CORPORATE WARD 4(3) CHENNAI. PAN: AABHD1187N ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : NONE / RESPONDENT BY : SHRI AR.V. SREENIVASAN, JCIT /DATE OF HEARING : 11.06.2019 /DATE OF PRONOUNCEMENT : 11.06.2019 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-5, CHENNAI IN APPEAL NO.198/CIT(A)-5/2017-18 DATED 17.12.2018 FOR THE ASSESSMENT YEAR 2013-14. 2. NONE REPRESENTED ON BEHALF OF THE ASSESSEE. SHRI AR.V. SREENIVASAN REPRESENTED ON BEHALF OF THE REVENUE. 2 ITA NO.826/CHNY/2019 3. THE NOTICE FOR HEARING HAS BEEN SERVED ON THE ASSESSEE AND THE ACKNOWLEDGEMENT CARD IS PLACED ON RECORD. THE APPEAL FILED BY THE ASSESSEE IS DEFECTIVE AND THE DEFECT NOTICE HAS ALSO BEEN ISSUED TO THE ASSESSEE ALONG WITH THE HEARING NOTICE. IT WAS SUBMITTED BY THE LD.DR THAT THE ISSUE IN THE APPEAL WAS WITH RESPECT OF THE PENNY STOCK AND THE DISALLOWANCE OF THE CLAIM OF EXEMPTION U/S.10(38) OF THE ACT. 4. WE HAVE CONSIDERED THE SUBMISSIONS. AS THE ASSESSEE HAS NOT RECTIFIED THE DEFECTS PRIMA FACIE THE APPEAL OF THE ASSESSEE IS LIABLE TO BE DISMISSED IN LIMINI. FURTHER AS IT IS NOTICED THAT THE ASSESSEE HAS ALSO NOT PRODUCED ANYTHING TO SHOW AS TO HOW THE ASSESSEE HAS IDENTIFIED THE SAID COMPANY M/S.BLAZON MARBLE LTD FOR INVESTMENT OR THE ASSESSEE HAS BROUGHT ANY EVIDENCE TO SHOW THAT THE LONG TERM CAPITAL GAIN CLAIMED AS CORRECT BEFORE THE LOWER AUTHORITIES OR BEFORE US, IN VIEW OF THE DECISION OF THE HONBLE JURISDICTIONAL MADRAS HIGH COURT IN THE CASE OF SMT. THARAKUMARI IN TAX CASE APPEAL NO.128 OF 2019 AND C.M.P. NO.3353 OF 2019 DATED 11.02.2019, THE APPEAL OF THE ASSESSEE IS DISMISSED. 3 ITA NO.826/CHNY/2019 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 11 TH JUNE, 2019 AT CHENNAI. SD/- SD/- /CHENNAI, /DATED 11 TH JUNE, 2019 RSR /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( ) /CIT(A) 4. /CIT 5. /DR 6. [ /GF ( ) (S. JAYARAMAN) /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) /JUDICIAL MEMBER