M/S R EASWARAN HUF, TIRUPUR V. ACIT CIRCLE 2, TIRUPPUR

MA 115/CHNY/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 4784 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 09-08-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 27-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: N V BALAJI
• Keywords: Bad and doubtful debts

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , , BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER MISCELLANEOUS PETITION NO. 115/CHNY/2019 [ IN I.T.A. NO. 591/CHNY/2018] ( [ [ / ASSESSMENT YEAR : 2011-12) M/S. R. EASWARAN HUF, NO.2/1004, KURUMANKUTTAI THOTTAM, PALAVANJIPALAYAM ROAD, VEERAPANDI POST, TIRUPUR 641 605. PAN : AACHR 0736G V. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2, TIRUPUR. (APPLICANT ) ( /RESPONDENT) / APPLICANT BY : SHRI N V BALAJI, ADVOCATE /RESPONDENT BY : SHRI AR.V. SREENIVASAN, JCIT /DATE OF HEARING : 09.08.2019 /DATE OF PRONOUNCEMENT : 09.08.2019 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THE ASSESSEE FILED THE PRESENT MISCELLANEOUS APPLICATION ON THE GROUND THAT THERE IS AN ERROR IN THE ORDER OF THIS TRIBUNAL DATED 03.12.2018. 2 MP NO. 115/MDS/2019 2. SHRI N.V. BALAJI, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT AT PARA NO.3 OF THE ORDER, THE TRIBUNAL OBSERVED THAT THE ASSESSEE CLAIMED RS.1,99,64,641/- AS BAD DEBT BUT FOR RS.1,18,08,800/-, THERE WAS NO ACTUAL WRITTEN OFF. ACCORDING TO THE LD.COUNSEL, THE ASSESSEE HAD WRITTEN OFF BAD DEBT TO THE EXTENT OF RS.3,40,12,641/-. THE ASSESSEE HAS WRITTEN OFF THE ENTIRE AMOUNT AS BAD DEBT IS NOT IN DISPUTE. THE ASSESSEE HAD WRITTEN OFF A SUM OF RS.1,20,51,575/- BEFORE THE DATE OF SURVEY AND AFTER THE DATE OF SURVEY THE ASSESSEE HAD WRITTEN OFF RS.2,19,61,066/- THE LD.CIT(A) ALLOWED RS.70,09,095/- WHICH WAS REVERSED BY THIS TRIBUNAL IN THE QUANTUM PROCEEDINGS. FURTHER THE FACT REMAINS THAT THE ENTIRE BAD DEBT OF RS.3,40,12,641/- WAS WRITTEN OFF. THEREFORE, THE OBSERVATION MADE BY THIS TRIBUNAL AT PARA NO. 3 THAT THE ASSESSEE HAS WRITTEN OFF ONLY RS.1,18,08,800/- IS NOT CORRECT. WE HEARD SHRI AR.V. SREENIVASAN, THE LD. DEPARTMENTAL REPRESENTATIVE ALSO. 3. IT IS NOT IN DISPUTE THAT THE ASSESSEE HAS CLAIMED RS.1,99,64,641/- AS BAD DEBTS IN THE QUANTUM APPEAL. THIS TRIBUNAL IN ITA NO.168/MDS/2016, ORDER DATED 21.10.2016 FOUND THAT THERE 3 MP NO. 115/MDS/2019 WAS NO ACTUAL WRITE OFF OF BY THE ASSESSEE IN THE BOOKS BUT FOR A SUM OF RS.1,18,08,800/-. THEREFORE, THE LAW LAID DOWN BY THE APEX COURT IN TRF LTD CANNOT BE EXTENDED TO THE PRESENT CASE. IN VIEW OF CLEAR FINDING OF THIS TRIBUNAL IN THE ASSESSEES OWN CASE IN THE QUANTUM APPEAL, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THERE IS NO ERROR IN THE ORDER OF THIS TRIBUNAL OR ANY PRIMA FACIE ERROR WHICH CALLS FOR RECTIFICATION U/S.254(2) OF THE ACT. THERE IS NO MERIT IN THE PETITION FILED BY THE ASSESSEE. ACCORDINGLY, THE SAME IS DISMISSED AS DEVOID OF MERITS. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 9 TH AUGUST, 2019 AT CHENNAI. SD/- SD/- ( ) (INTURI RAMA RAO) /ACCOUNTANT MEMBER ( . . . ) (N.R.S. GANESAN) /JUDICIAL MEMBER /CHENNAI, /DATED, THE 9 TH AUGUST, 2019 RSR . /COPY TO: 1. / APPLICANT 2. / RESPONDENT 3. ( ) /CIT(A) 4. /CIT 5. /DR 6. [ /GF.