The ACIT, Calicut V. M/s. Uniroyal Marine Exports (P) Ltd, Calicut

ITA 98/COCH/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 7719 (ITAT-COCHIN)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 17-08-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 25-02-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHANTOM BOSE
• Assessee Lawyers: IYPE MATHEW
• Section: 143(3); 260A; 148; 263

Judgement Text

ITA NO 98/C/2016 1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH KOCHI BEFORE S/ SHRI B P JAIN , AM & GEORGE GEORGE K, JM ITA NO 98/COCH/2016 (A SST YEAR 2004 - 05 ) THE ASST COMMR OF INCOME TAX CIRCLE 2(1), KOZHIKODE VS M/S UNIROYAL MARINE EXPORTS P LD 11/19 VENGALAM C ALICUT 673 303 ( APPELLANT) (RESPONDENT) PAN NO. AAACU4631N ASSESSEE BY SH IYPE MATHEW REVENUE BY SH SHANTOM BOSE, CIT - DR DATE OF HEARING 17 TH AUG 2016 DATE OF PRONOUNCEMENT 1 8 TH AUG 2016 ORDER PER GEORGE GEORGE K, JM; THIS APPEAL, AT THE INSTANCE OF THE REVENUE , IS DIRECTED AGAINST THE CIT(A)S ORDER DATED 9.10.2015. THE RELEVANT ASSESSMENT YEAR IS 2004 - 05. 2 THE BRIEFLY STATED THE FACTS OF THE CASE ARE AS FOLLOWS: THE ASSESSMENT IN THIS CASE WAS ORIGINALLY COMPLETED U/S 143(3) VIDE ORDER DATED 22.11.2006. SUBSEQUENTLY, THE ASSESSMENT WAS REOPENED BY ISSUING NOTICE U/S 148 OF THE I T ACT AND THE ASSESSMENT U/S 143(3) R.W.S 147 WAS COMPLETED ON 9.5.2011. THEREAFTER, THE COMMISSIONER OF INCOME TAX SET ASIDE THE ORDER OF REASSESSMENT BY INVOKING HIS REVISIONARY POWERS U/S 263 OF THE I T ACT (ORDER DATED 31.12.2012). THE AO GAVE EFFECT TO THE REVISIONARY ORDER ITA NO 98/C/2016 2 PASSED U/S 263 OF THE ACT , VIDE ORDER DATED 27.3.2014 RAISING A DEMAND OF RS. 27,01,190/ - . 3 AGGRIEVED BY THE ORDER OF THE AO PASSED U/S 143(3) R.W.S 263 OF THE ACT, THE ASSESSEE PREFERRED APPEAL TO THE FIRST APPELLATE AUTHORITY. WHEN THE MATTER WAS TAKEN UP BY THE CIT(A), IT WAS BROUGHT TO THE NOTICE OF THE CIT(A) THAT THE ORDER PASSED U/S 263 WAS SET ASIDE BY THE TRIBUNAL VI DE ITS ORDER IN ITA NO. 118/COCH/2013(ORDER DATED 14.5.2015). THE CIT(A), TAKING NOTE OF THE TRIBUNALS ORDER , SETTING ASIDE THE 263 ORDER, QUASHED THE ORDER PASSED U/S 143(3) R.W.S 263 OF THE ACT. 4 AGGRIEVED, THE REVENUE IS IN APPEAL BEFORE US. THE LD DR SUBMITTED THAT AGAINST THE ORDER OF THE TRIBUNAL SETTING ASIDE THE ORDER PASSED U/S 263, THE REVENUE HAS PREFERRED APPEAL TO THE HONBLE JURISDICTIONAL HIGH COURT U/S 260A OF THE ACT AND THE SAME IS PENDING ADJUDICATION. 5 THE LD COUNSEL FOR THE ASSE SSEE, ON THE OTHER HAND, SUBMITTED THAT THE ORDER OF THE TRIBUNAL DATED 14.5.2015 (SUPRA) , SETTING ASIDE THE ORDER U/S 263 HAS NOT BEEN REV ERSED BY THE HONBLE HIGH COURT . IT WAS FURTHER SUBMITTED THAT THE APPEAL FILED BY THE REVENUE IS BELOW THE MONETARY LIMIT PR ESCRIBED BY THE LATEST CBDT INSTRU CTION AND HENCE, THE APPEAL BEFORE THE HON BLE HIGH COURT IS NOT MAINTAINABLE. 6 WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. THE REVISIONARY ORDER PASSED BY THE CIT U/S 263 OF THE ACT , HAS BEEN SET ASIDE ITA NO 98/C/2016 3 BY THE TRIBUNAL VIDE ORDER DATED 14.5.2015 IN ITA NO. 118/COCH/2013 . THE ORDER OF THE TRIBUNAL HAS NOT BEEN SET ASIDE BY THE HON BLE HIGH COURT. THE PRESENT APPEAL ARISES OUT OF THE ASSESSMENT ORDER PASSED U/S 143(3) R .W.S 263 OF THE ACT. SINCE T HE ASSESSMENT ORDER, WHICH IS A SUBJECT MATTER BEFORE US, IS BASED ON THE REVISIONARY ORDER PASSED U/S 263 OF THE ACT, WHICH HAS ALREADY BEEN SET ASIDE BY THE TRIBUNAL ; THIS APPEAL FILED BY THE REVENUE HAS LOST ITS SUBSTRATUM AND IS DISMISSED. IT IS ORDERED ACCORDINGLY . 7 IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 1 8 TH DAY OF AUG 2016 . SD/ - SD/ - ( B P JAIN ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN: DATED 18 TH AUG 2016 RAJ* COPY TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT(A) , KOZHIKODE 4 . CIT, KOZHIKODE 5 . DR 6 . GUARD FILE BY ORDER ASSISTANT REGISTRAR ITAT, COCHIN