Shri Adarsh Malhotra, Bhopal V. THE DCIT 1(1), Bhopal

ITA 840/IND/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 5684 (ITAT-INDORE)
• Duration Of Justice: 2 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 03-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S D DESHPANDE
• Assessee Lawyers: MOHD JAVED
• Keywords: Opportunity of being heard

Judgement Text

ADARSH MALHOTRA ITA NO. 840/IND/2016 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE .., ..!', #$ # !% BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER I.T.A. NO. 840/IND/2016 ASSESSMENT YEAR: 2010-11 ADARSH MALHOTRA BHOPAL PAN ABBPM 3048A :: APPELLANT VS DCIT 1(1) BHOPAL :: RESPONDENT REVENUE BY SHRI S.D. DESHPANDE ASSESSEE BY SHRI MOHD. JAVED ! ' #$ DATE OF HEARING 28.9.2016 %&'( #$ DATE OF PRONOUNCEMENT 28.10.2016 * O R D E R PER SHRI D.T. GARASIA, JM THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED CIT(A)-31, NEW DELHI, CAMP BHOP AL, DATED 6.4.2016. ADARSH MALHOTRA ITA NO. 840/IND/2016 2 2. THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSEE FILED THE RETURN OF INCOME FOR THE ASSESSMENT YEAR UNDER CONSIDERATION. ON PERUSAL OF COMPUTATION OF INCOME FURNISHED BY THE ASSESSEE THE ASSESSING OFFICER FOUN D THAT THE ASSESSEE HAD CLAIMED BROUGHT FORWARD BUSINESS LOSS OF RS.7,97,302/- PERTAINING TO THE ASSESSMENT YEAR 2006-0 7, 2007-08 AND 2008-09. THE ASSESSING OFFICER FURTHER F OUND THAT IT IS SEEN FROM THE ASSESSMENT ORDER FOR THE ASSESSMENT YEAR 2008-09 THAT THE ASSESSEE HAS BEEN ASSESSED AT RS.1,61,97,470/-. HE, THEREFORE, OBSERVE D THAT IT IS APPARENT THAT THERE IS NO ASSESSED LOSS IN THE CAS E OF THE ASSESSEE AS CLAIMED BY THE ASSESSEE. VIDE ORDERE S HEET ENTRY DATED 13.3.2013 THE ASSESSEE WAS ASKED TO JUSTIFY THE CLAIM OF BROUGHT FORWARD LOSSES AGAINST THE INCOME OF T HE CURRENT ASSESSMENT YEAR. THE ASSESSEE HAS NOT FURNISHED ANY EXPLANATION OF THE SAME. THE ASSESSING OFFICER, THEREFORE, DISALLOWED THE BROUGHT FORWARD LOSSES AMOUN TING ADARSH MALHOTRA ITA NO. 840/IND/2016 3 TORS.7,97,302/- AND ADDED THE SAME TO THE TOTAL INCOME OF THE ASSESSEE. THE MATTER TRAVELLED TO THE LEARNED CIT( A) AND THE LEARNED CIT(A) DISMISSED THE APPEAL OF THE ASSESSEE. NOW THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. 3. WE HAVE HEARD BOTH THE SIDES. DURING THE COURSE OF HEARING BEFORE THE LEARNED CIT(A) IN ORDER TO VERIFY THE CONTENTION OF THE ASSESSEE, THE ASSESSEE WAS ASKED TO EXPLAIN AND BIFURCATE THE INTEREST PAID FOR THE FIRM/PROPRIETARY CONCERN AND THE INCOME FROM THE FIRM AND APPORTIONMENT THE ASSESSEE HAS NOT PRODUCED BEFORE THE LEARNED CIT(A) BUT THE ASSESSEE HAS PRODUCED BEFORE U S IN THE PAPER BOOK, THEREFORE, WE SET ASIDE THE MATTER TO THE ASSESSING OFFICER TO VERIFY THE SAME AFTER PROVIDING REASONABLE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. 4. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ADARSH MALHOTRA ITA NO. 840/IND/2016 4 THE ORDER HAS BEEN PRONOUNCED IN OPEN COURT ON 28 OCTOBER, 2016. SD/- SD/- ( ..!') (..) #$ (O.P.MEENA) (D.T.GARASIA) ACCOUNTANT MEMBER J UDICIAL MEMBER (') / DATED : 28 OCTOBER, 2016. DN/ ADARSH MALHOTRA ITA NO. 840/IND/2016 5