Shri Mahesh A. Vora, Ahmedabad V. The ACIT, Circle-5, Ahmedabad

ITA 985/AHD/2015

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 6273 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 8 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 20-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANTONY PARIATH
• Keywords: Revised return
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA NO. 985/AHD/2015 (ASSESSMENT YEAR: 2011- 12) MAHESH A. VORA B-101, ABHIYAN APPT., NR. DEVIKANANDAN DERASAR, NARANPURA, AHMEDABAD - 380013 APPELLAN T VS. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, AHMEDABAD, B-409, 4 TH FLOOR, PRATYAKSHA KAR BHAVAN, NEAR PANJRAPOLE, AHMEDABAD RESPONDENT PAN: AAUPV5856H /BY ASSESSEE : SHRI ANKIT CHOKSHI, A.R. /BY REVENUE : SHRI ANTONY PARIATH, SR. D.R. /DATE OF HEARING : 16.01.2018 /DATE OF PRONOUNCEMENT : 18.01.2018 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2011-12 ARISES AGAINST THE CIT(A)-9, AHMEDABADS ORDER DATED 03.02.2015, IN CA SE NO. CIT(A)-XI/413/ACIT CIR.5/13-14, IN PROCEEDINGS U/S. 143(3) OF THE INCO ME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE PLEADE D IN THE INSTANT APPEAL CHALLENGES BOTH THE LOWER AUTHORITIES ACTION DISAL LOWING ITS INTEREST EXPENDITURE OF ITA NO. 985/AHD/15 [MAHESH A. VORA VS. ACIT] A.Y. 2011-12 - 2 - RS.17,30,357/- DURING THE COURSE OF ASSESSMENT AS W ELL AS IN LOWER APPELLATE PROCEEDINGS MAINLY ON THE GROUND THAT THE SAME IS N OT ALLOWABLE IN ABSENCE OF A REVISED RETURN FILED DURING SCRUTINY AS HELD IN HON BLE APEX COURTS JUDGMENT IN GOETZ INDIA LTD. VS. CIT 284 ITR 323 (SC). THERE IS NO DISPUTE THAT THE ASSESSEE CLAIMED THE RELEVANT INTEREST EXPENSES (PAGE 16 OF THE PAPER BOOK) ON THE GROUND THAT THE SAME HAD INADVERTENTLY BEING LEFT OUT IN T HE ORIGINAL RETURN. BOTH THE LOWER AUTHORITIES DO NOT ENTERTAIN THE SAME IN ABSENCE OF REVISED RETURN AS PER THE ABOVE CASE LAW. LEARNED DEPARTMENTAL REPRESENTATIVE FAIL S TO DISPUTE THAT THEIR LORDSHIPS OF HONBLE APEX COURT IN THE ABOVE CASE LAW MAKE IT CLEAR THAT APPELLATE AUTHORITIES JURISDICTION UNDER THE ACT IS NOT IN ANY WAY IMPING ED UPON IN CONSIDERING SUCH A PLEA EVEN IN ABSENCE OF REVISED RETURN. WE THEREFO RE ACCEPT ASSESSEES SOLE SUBSTANTIVE GROUND FOR STATISTICAL PURPOSES AND LEA VE IT OPEN FOR THE ASSESSING OFFICER TO FRAME CONSEQUENTIAL ASSESSMENT AS PER LA W AFTER AFFORDING ADEQUATE OPPORTUNITY OF HEARING TO THE ASSESSEE. 3. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSES. [PRONOUNCED IN THE OPEN COURT ON THIS THE 18 TH DAY OF JANUARY, 2018.] SD/- SD/- ( PRADIP KUMAR KEDIA ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 18/01/2018 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0