Assistant Commissioner of Income-tax, V. Finolex Industries Ltd., Pune

MA 11/PUN/2015

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 3717 (ITAT-PUNE)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-10-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 19-06-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 13-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Revised return

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE , . . , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI R.K. PANDA, AM . /MA NO. 11 /PN/ 20 1 5 ARISING OUT OF ITA NO. 31 /PN/ 20 1 2 / ASSESSMENT YEAR : 200 5 - 0 6 THE ASST. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 1(2), PUNE APPLICANT VS. FINOLEX INDUSTRIES LTD., D - 1/10, MIDC, CHINCHWAD, PUNE 19 RESPONDENT PAN: AAACF2634A APPLICANT BY : SHRI RAJESH DAMOR RESPONDENT BY : SHRI C.H. NANIWADEKAR / DATE OF HEARING : 1 1 .0 9 .2015 / DATE OF PRONOUNCEMENT: 16 . 1 0.2015 / ORDER PER SUSHMA CHOWLA , JM : THE APPLICANT HAS FILED THE PRESENT MISCELLANEOUS APPLICATION AGAINST THE ORDER OF TRIBUNAL IN ITA NO. 31 /PN/2012, DATED 2 8 .0 2 .2014 . 2. THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS APPLICATION ON THE PREMISE THAT THE TRIBUNAL WHILE DECIDING THE PRESENT APPEAL HAD NOT CONSIDERED THAT THE ASSESSEE HAD FILED THE REVISED RETURN OF INCOME BEYOND THE TIME PERMISSIBLE UNDER THE INCOME - TAX ACT AND IN VIEW OF TH E RATIO LAID DOWN BY THE HONBLE SUPREME COURT IN GOETZE (INDIA) LTD. VS . CIT (2006) 284 ITR 323 (SC) , T HE REVISED CLAIM OF THE ASSESSEE COULD NOT BE CONSIDERED. 2 M A NO. 11 /PN/20 1 5 ARISING O UT OF ITA NO. 31 /PN/ 20 1 2 3. THE SHORT ISSUE RAISED IN THE PRESENT MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS WHETHER THE RATIO LAID DOWN BY THE HONBLE SUPREME COURT IN GOETZE (INDIA) LTD. VS . CIT (SUPRA) IS APPL ICABLE WHEN THE TRIBUNAL IS DECIDING AN ISSUE RAISED BY THE ASSESSEE BY WAY OF REVISED RETURN, WHICH IS FILED BEYOND THE TIME PERMISSIBLE UNDER THE INCOME - TAX ACT. THE PERUSAL OF JUDGMENT OF THE HONBLE SUPREME COURT IN GOETZE (INDIA) LTD. VS . CIT (SUPRA) REFLECTS THAT THE ASSESSING OFFICER IS PRECLUDED FROM CONSIDERING THE REVISED CLAIM OF THE ASSESSEE, WHICH HAS BEEN FILED BEYOND THE PERMISSIBLE TIME LIMIT PRESCRIBED UNDER THE IN COME - TAX ACT. HOWEVER, NO SUCH CURB HAD BEEN PLACED ON THE EXERCISE OF JURI SDICTION BY THE TRIBUNAL. IN VIEW THEREOF, THE TRIBUNAL IS NOT PRECLUDED FROM LOOKING INTO THE REVISED CLAIM OF THE ASSESSEE, WHICH WA S FILED BY WAY OF REVISED RETURN OF INCOME BEYOND THE TIME LIMIT PRESCRIBED IN THE ACT. THE TRIBUNAL HAVING BEEN CONSIDE RED THE ISSUE AT LENGTH AND HAVING DECIDED THE SAME, WE FIND NO MERIT IN THE MISCELLANEOUS APPLICATION MOVED BY THE REVENUE AND THE SAME IS DISMISSED. 4 . IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED . 4 . IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED . ORDER P RONOUNCED ON THIS THE 16 TH DAY OF OCTOBER , 201 5 . SD/ - SD/ - ( R.K. PANDA ) ( SUSHMA CHOWLA ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE ; DATED : 16 TH OCTOBER , 2015 . GCVSR / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APP LICANT ; 2. / THE RESPONDENT; 3. ( ) / THE CIT(A) - V , PUNE; 4. / THE CIT - V , PUNE ; 5. , , / DR A , ITAT, PUNE; 6. / GUARD FILE . / BY ORDER, // TRUE COPY // // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE