M/s I & B Seeds Private Limited , Bangalore V. The Deputy Commissioner of Income Tax Circle-3(1)(1), Bangalore

MA 103/BANG/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 5512 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-10-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 16-10-2020
• Assessment Year: 2015-2016
• Appeal Filed On: 20-08-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: WAY OF SLUMP SALE. HE
• Section: 205; 201; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER [ M P NO. 10 3 /B ANG /20 20 (IN ITA NO. 3415 /B ANG /20 1 8 )] (ASSESSMENT Y EAR: 20 1 5 - 1 6 ) M/S. I & B SEEDS PVT. LTD., UNIT NO.1690, SIA, 15 TH MAIN, 30 TH CROSS, BANASHANKARI 2 ND STAGE, BENGALURU 560 070. APPLICANT VS. D CIT, CIRCLE 3(1)(1), BENGALURU. RESPONDENT APPLICANT BY : SHRI. R. E. BALASUBRAMANYAM, CA RESPONDENT BY : S HRI. S. SUNDAR RAJAN , ADDL. CIT (DR)(ITAT), BENGALURU DATE OF HEARING : 25 /09/2020 DATE OF PRONOUNCEMENT : 01 / 10 /2020 O R D E R PER A. K. GARODIA, AM: THIS MISCELLANEOUS PETITION (MP) IS FILED BY THE ASSESSEE IN WHICH THIS IS THE MAIN SUBMISSION OF THE ASSESSEE THAT THE TRIBUNAL IN THE IMPUGNED ORDER HAS PROCEEDED ON THIS BASIS THAT IN SPITE OF SPECIFIC QUERY, THESE DETAILS WERE NOT PROVIDED BY THE AR OF THE ASSESSEE AS TO HOW MUCH LAND WAS INCLUDED IN THE FIXED ASSETS OF I & B SEEDS TAKEN OVER BY THE ASSESSEE BY WAY OF SLUMP SALE. IN THIS REGARD, IT IS SUBMITTED IN THE MP FILED BY THE ASSESSEE THAT PAPER BOOK WAS FILED BY THE ASSESSEE ON 05.07.2019 CONTAINING 200 PAGES AND IN THE COURSE OF HEARING, ATTENTION WAS DRAWN TO PAGE NOS.7 TO 36, 131, 92, 137, 157 AND 185 AND MP NO. 103/BANG/2020 (IN ITA NO.3415/BANG/2018) PAGE 2 OF 3 THE SECOND PAPER BOOK WAS ALSO SUBMITTED CONTAINING PAGES 201 TO 334 AND IT WAS SPECIFICALLY SUBMITTED THAT ON PAGE 205 OF THE PAPER BOOK IS THE COPY OF RTC CERTIFICATE OF LANDLORD AND THIS DOCUMENT SHOWS THAT THE ERSTWHILE BUSINESS WAS CARRIED FROM AN AGRICULTURAL LAND BELONGING TO A THIRD PARTY NAMELY SHRI. N. KRISHNA BHAT AND THE COMPANY IS PROHIBITED FROM ACQUIRING AGRICULTURAL LAND UNDER SECTION 79A AND 79B OF KARNATAKA LAND REFORMS ACT. 2. IN THE COURSE OF HEARING OF THE M.P., IT WAS SUBMITTED THAT SINCE VARIOUS DOCUMENTS WERE BROUGHT ON RECORD BY ASSESSEE BY WAY OF FILING TWO PAPER BOOKS CONTAINING 334 PAGES, THERE IS APPARENT MISTAKE IN THE TRIBUNAL ORDER IN NOT CONSIDERING THE RELEVANT DOCUMENTS AND DECIDING THE APPEAL ON THIS BASIS THAT , THESE DETAILS WERE NOT PROVIDED BY THE AR OF THE ASSESSEE AS TO HOW MUCH LAND WAS INCLUDED IN THE FIXED ASSETS OF I & B SEEDS TAKEN OVER BY THE ASSESSEE BY WAY OF SLUMP SALE. HE SUBMITTED THAT UNDER THESE FACTS, THIS TRIBUNAL ORDER SHOULD BE RECTIFIED BY MAKING A DECISION ON THE BASIS OF ALL THE DOCUMENTS AVAILABLE ON RECORD OR THIS TRIBUNAL ORDER SHOULD BE RECALLED FOR A FRESH DECISION. IN REPLY, IT WAS SUBMITTED BY LEARNED DR OF THE REVENUE THAT THERE IS NO APPARENT MISTAKE IN THE IMPUGNED TRIBUNAL ORDER. 3. IN THE REJOINDER, IT WAS SUBMITTED BY LEARNED AR OF THE ASSESSEE THAT SINCE DOCUMENTS AVAILABLE ON RECORD WERE INADVERTENTLY NOT CONSIDERED BY THE TRIBUNAL, THIS TRIBUNAL ORDER SHOULD BE RECALLED. AT THE CONCLUSION OF HEARING, IT WAS INDICATED BY THE BENCH THAT IN VIEW OF THESE FACTS, IT HAS TO BE ACCEPTED THAT THERE IS AN APPARENT MISTAKE IN THE IMPUGNED TRIBUNAL ORDER AND THEREFORE, THE TRIBUNAL IS RECALLING THIS MP NO. 103/BANG/2020 (IN ITA NO.3415/BANG/2018) PAGE 3 OF 3 TRIBUNAL ORDER FOR A FRESH DECISION AFTER FRESH HEARING AND THE DATE OF FRESH HEARING WAS ALSO PRONOUNCED IN THE OPEN COURT BEING 14.10.2020. 4. IN VIEW OF THE ABOVE DISCUSSION, WE RECALL THIS TRIBUNAL ORDER AND FIX THE APPEAL FOR FRESH HEARING ON 14.10.2020 AND SINCE THE DATE OF HEARING WAS PRONOUNCED IN THE OPEN COURT, NO SEPARATE NOTICE OF HEARING IS REQUIRED TO BE ISSUED. 5. IN THE RESULT, THE MP FILED BY THE ASSESSE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- ( BEENA PILLAI ) JUDICIAL MEMBER (A. K. GARODIA) ACCOUNTANT MEMBER PLACE : BANGALORE DATED : 01/10/2020 /NS/* COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A)-II BANGALORE 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL BANGALORE