THE ACIT, 3(1), Bhopal V. M/s. RAJ HOMES PVT. LTD., Bhopal

ITSSA 174/IND/2014

• Counselvise Citation: [2015] 122 COUNSELVISE.COM (IT) 1149 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 4 month(s) 23 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 05-10-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 12-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJEEV VARSHANE
• Keywords: Loose papers
• Section: 143(3); 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, J.M. AND SHRI B.C.MEENA, A.M. I.T(SS).A.NO. 174/IND/2014 PERIOD : 01.04.1995 TO 27.02.2002 ACIT, 3(1) M/S.RAJ HOMES PRIVATE LIMITED, BHOPAL VS BHOPAL APPELLANT RESPONDENT P.A.N. NO A AA CR7786F APPELLANT BY SHRI RAJEEV VARSHANE, CIT DR RESPONDENT BY WRITTEN SUBMISSIONS DATE OF HEARING : 16 .0 9 .2015 DATE OF PRONOUNCEMENT : 05 . 10 .2015 I.T.(SS).A.NOS. 174/IND/2014 - ACIT VS. M/S.RAJ HOM ES P.LTD., BHOPAL 2 2 O R D E R PER GARASIA, J.M. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF CIT(A), BILASPUR, CAMP AT BHOPAL, DATED 13.02.20 14 FOR THE BLOCK PERIOD 01.04.1995 TO 27.02.2002. 2. THE REVENUE HAS TAKEN THE FOLLOWING GROUND OF APPEA L :- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE CIT(A)-I HAS ERRED IN DELETING THE ADDITION OF RS. 11,28,560/- MADE BY THE ASSESSING OFFICER FOR THE BLOCK PERIOD 01.04.1995 TO 27.02.2002. 3. THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSEE I S A BUILDER AND DERIVES INCOME FROM CONSTRUCTION WORK A ND SALE OF FLATS. A SEARCH WAS CONDUCTED AT BUSINESS PREMISES AND RESIDENTIAL PREMISES OF THE DIRECTORS OF THE ASSESS EE GROUP. DURING THE COURSE OF SEARCH, CASH OF RS. 2,47,950/- WAS FOUND AND CERTAIN LOOSE PAPERS WERE ALSO SEIZED. THEREFOR E, NOTICE I.T.(SS).A.NOS. 174/IND/2014 - ACIT VS. M/S.RAJ HOM ES P.LTD., BHOPAL 3 3 U/S 158BC READ WITH SECTION 143(3) FOR BLOCK PERIO D 1.4.1995 TO 27.02.2002 WAS ISSUED AND THE AO HAS DETERMINED THE TOTAL INCOME AT RS. 14,20,15,000/- FOR ASSESSMENT YEAR 20 02-03. THE AO HAS MADE THE ADDITION OF RS. 11,28,560/- ON ACCOUNT OF UNRECORDED CONTRACT RECEIPTS FROM ANCHAL GRIH NI RMAN SAHKARI SANSTHA. HOWEVER, THIS WAS INADVERTENTLY NO T ADDED TO THE TOTAL ASSESSED INCOME OF THAT YEAR WHICH RES ULTED INTO UNDER-ASSESSMENT OF INCOME BY RS. 11,28,560/-. FOR RECTIFYING THE MISTAKE, NOTICE U/S 154 WAS ISSUED ON 11.10.201 1. 4. THE MATTER CARRIED TO THE LD. CIT(A) AND THE LD. C IT(A) ALLOWED THE APPEAL OF THE ASSESSEE BY OBSERVING AS UNDER :- THE SUBMISSION OF THE LD. AUTHORIZED REPRESENTATIV E WAS CONSIDERED CAREFULLY. THE MATTER WAS DISCUSSED WITH THE AO AS WELL. IN FACT, THE IMPUGNED ADDITION OF RS. 11,28,560/- TO THE ASSESSED INCOME FALLING IN BLOCK PERIOD 01.04.1995 TO 27.02.2002 ON ACCOUNT OF UNRECORDED CONTRACT RECEIPTS FROM ANCHAL GRIH NIRMAN SAHKARI SANSTHA WAS DELETED BY CIT(A), BHOPAL AND HON'BLE TRIBUNAL AFFIRMED THE ORDER OF T HE I.T.(SS).A.NOS. 174/IND/2014 - ACIT VS. M/S.RAJ HOM ES P.LTD., BHOPAL 4 4 CIT(A), BHOPAL, DELETING THE IMPUGNED ADDITION. THU S, ASSESSMENT U/S 158 BC R.W.S. 143(3) OF THE ACT ATTAINED FINALITY AND HENCE, ORDER U/S 154 RECTIFYI NG THE MISTAKE AT A LATER DATE IS NO MORE MAINTAINABLE . THE GROUND OF APPEAL IS ACCEPTED. IN THE RESULT, THE APPEAL IS ALLOWED. 5. WE HAVE HEARD THE LD. CIT DR AND HAVE GONE THROUGH THE WRITTEN SUBMISSIONS. LOOKING TO THE FACTS AND CIRCUMSTANCES OF THE CASE, WE FIND THAT THE AO HAS MADE THE ADDITION OF RS. 11,28,560/- FOR ASSESSMENT YEAR 200 2-03 ON ACCOUNT OF UNRECORDED CONTRACT RECEIPTS FROM ANCHAL GRIH NIRMAN SANSTHA. THE LD. CIT(A) HAS DELETED THE ADDI TION AND THE TRIBUNAL HAS CONFIRMED THE ORDER OF LD. CIT(A). THEREFORE, THIS ADDITION CANNOT BE MADE AGAIN. THEREFORE, THE LD. CIT(A) HAS ALLOWED THE APPEAL. THEREFORE, OUR INTERFERENCE IS NOT CALLED FOR. I.T.(SS).A.NOS. 174/IND/2014 - ACIT VS. M/S.RAJ HOM ES P.LTD., BHOPAL 5 5 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWE D. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 5 TH OCTOBER, 2015. SD/- (B. C. MEENA) ACCOUNTANT MEMBER SD/- ( D.T.GARASIA) JUDICIAL MEMBER DATED : 5 TH OCTOBER, 2015. CPU* 5.10