UNIQUE BUILDERS (RAMA), Jaipur V. DCIT, Jaipur

MA 12/JPR/2015

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 2819 (ITAT-JAIPUR)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-02-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 18-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KAILASH MANGAL JCIT DR DHK

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; ,OA JH VH-VKJ-EHUK] YS[KK LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JM & SHRI T.R. MEENA, AM M.A. NO.12 & 13/JP/2015 (ARISING OUT OF VK;DJ VIHY LA-@ ITA NOS. 649 & 650/JP/2012) FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2008-09 & 2009-10 M/S. UNIQUE BUILDERS (RAMA) C-116, JANPATH, LAL KOTHI SCHEME, JAIPUR CUKE VS. THE DCIT CENTRAL CIRCLE- 2 JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO .: AACFU 0823 D VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI MANISH AGARWAL, CA JKTLO DH VKSJ LS@ REVENUE BY : SHRI KAILASH MANGAL, JCIT - DR LQUOKBZ DH RKJH[K@ DATE OF HEARING : 13/02/2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 13/02/2015 VKNS'K@ ORDER PER R.P. TOLANI, JM BOTH THESE APPLICATIONS HAVE BEEN FILED BY THE ASS ESSEE POINTING OUT THE MISTAKE APPARENT FROM RECORD. 2.1 THE LD. COUNSEL FOR THE ASSESSEE CONTENDS THAT ITAT HAS FOLLOWED ITS EARLIER ORDER OF ITAT IN ASSESSEE'S OWN GROUP CASE VIDE PARA 2.1 PARA OF THE ORDER THEREBY UPHOLDING THE REJECTION OF BOO KS OF ACCOUNT OF THE ASSESSEE PROJECT COMPLETION METHOD FOLLOWED BY IT. THIS BENCH OF ITAT HAS CONCLUDED ITS ORDER IN PARA 2.3 AS UNDER:- MA NO.12/JP/2015 M/S. UNIQUE BUILDERS (RAMA) VS. DCIT, CENTRAL CIRCL E- 2, JAIPUR . 2 2.3 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUS ED THE MATERIALS AVAILABLE ON RECORD. THE FACTS AND CIRCUM STANCES OF THE ASSESSEE'S CASE AND ITS OTHER GROUP CASES ARE SIMIL AR. THUS IN VIEW THEREOF AND BY RESPECTFULLY FOLLOWING THE CONSOLIDA TED ORDER REFERRED ABOVE, WE UPHOLD THE REJECTION OF BOOKS OF ACCOUNT OF THE ASSESSEE AND METHOD OF ACCOUNTING OF PERCENTAGE COM PLETION METHOD AS FOLLOWED BY THIS BENCH OF ITAT IN ASSESSE E'S GROUP OF CASES. THUS IN THE ENTIRETY OF THE FACTS AND CIRCUM STANCES, THE ADDITIONS ARE DELETED AND THE APPEALS OF THE ASSESS EE ARE ALLOWED. IT IS POINTED OUT THAT THIS BENCH OF ITAT HAS FOLLO WED ITS EARLIER ORDER AND FOLLOWING MISTAKE MAY BE CORRECTED. THE WORD REJECTION SHOULD BE OMITTED AND INSTEAD OF PERCENTAGE COMPLETION METHOD, PROJECT COMPLETION ME THOD SHOULD BE UPHELD. 2.3 THE LD. DR IS HEARD. 2.4 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. WE FIND MERIT IN THE ARGUMENTS OF THE LD. COUNSEL FOR THE ASSESSEE. THIS BENCH OF ITAT HAS FOLLOWED T HE CONSOLIDATED ORDER DATED 14-03-2013 IN ASSOCIATED CONCERNS THEREBY UP HOLDING THE BOOKS OF ACCOUNT MAINTAINED BY THE ASSESSEE AS WELL AS PROJ ECT COMPLETION METHOD FOLLOWED BY IT. CONSEQUENTLY, THE MISTAKE AS POINTE D OUT BY THE ASSESSEE AMOUNTS TO MISTAKE APPARENT FROM RECORD AND PARA 2. 3 OF THE ORDER IS RECTIFIED U/S 254(2) AS UNDER:- 2.3 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. THE FACT S AND CIRCUMSTANCES OF THE ASSESSEE'S CASE AND ITS OTHER GROUP CASES ARE SIMILAR. THUS IN VIEW THEREOF AND RESPECTFULLY FOLL OWING THE CONSOLIDATED ITAT ORDER REFERRED TO ABOVE, WE UPHOL D THE BOOKS OF MA NO.12/JP/2015 M/S. UNIQUE BUILDERS (RAMA) VS. DCIT, CENTRAL CIRCL E- 2, JAIPUR . 3 ACCOUNT OF THE ASSESSEE AND ALSO UPHOLD METHOD OF ACCOUNTING OF PROJECT COMPLETION METHOD AS FOLLOWED BY THIS BENC H OF ITAT IN ASSESSEE'S GROUP OF CASES. THUS IN THE ENTIRETY OF THE FACTS AND CIRCUMSTANCES, THE ADDITIONS ARE DELETED AND THE AP PEALS OF THE ASSESSEE ARE ALLOWED. EXCEPT ABOVE, THERE IS NO CHANGE IN THE BODY OF THE ORDER 3.0 IN THE RESULT, BOTH THE MISCELLANEOUS APPLICATI ONS OF THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 13/02/2015. SD/- SD/- VH-VKJ-EHUK VKJ-IH-RKSYKUH (T.R. MEENA) (R.P.TOLANI) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 13 TH FEB 2015 *MISHRA VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- M/S. UNIQUE BUILDERS (RAMA) AIPUR 2. IZR;FKHZ@ THE RESPONDENT- THE DCIT, CENTRAL CIRCLE- 2, JAIPU R . 3. VK;DJ VK;QDRVIHY@ THE CIT(A). 4. VK;DJ VK;QDR@ CIT, JAIPUR 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (MA NO.12& 13/JP/2015) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR