M/s United Freight Carriers (Vizag) Pvt. Ltd., Visakhapatnam V. The ACIT, Circle-4(1)/Ward-3(1), Visakhapatnam

MA 14/VIZ/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6489 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-04-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2005-2006
• Appeal Filed On: 21-03-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: J SIRI KUMAR

Judgement Text

MA NO.14/V/11UNITED FREIGHT CARRIERS (VIZAG) PVT. LTD ., VSKP. IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER MA NO.1 4 /VIZAG/ 20 11 (ARISING OUT OF ITA NO.286/VIZ/2008) ASSESSMENT YEAR : 200 5 - 0 6 M/S. UNITED FREIGHT CARRIERS (VIZAG) PVT. LTD. VISAKHAPATNAM VS. ACIT, CIRCLE - 4(1), WARD - 3(1) VISAKHAPATNAM (APPELLANT) (RESPONDENT) PAN NO .AAACU 4498B APPELLANT BY: SHRI I. KAMA SASTRY, CA RESPONDENT BY: SHRI J. SIRI KUMAR, SR. DR ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER:- THIS MISCELLANEOUS APPLICATION IS PREFERRED BY TH E ASSESSEE AGAINST THE ORDER OF THE TRIBUNAL WITH THE SUBMISSION THAT WHIL E ESTIMATING THE PROFIT FROM TRANSPORT BUSINESS AT 6.75% THE TRIBUNAL HAS A DOPTED THE PROFIT OF TRANSPORT BUSINESS DECLARED BY THE SISTER CONCERN O F THE ASSESSEES. IN THE CORRESPONDING YEAR THE NET PROFIT FROM THE BUSINESS WAS DECLARED BY THE SISTER CONCERN AT 3.65% AND THE TRIBUNAL HAS ADOPTE D THE PROFIT DECLARED BY THE SISTER CONCERN OF THE ASSESSEES IN FUTURE YEARS I.E. ASSESSMENT YEAR 2007- 08. THEREFORE, AN ERROR APPARENT FROM THE RECORD I S CREPT IN THE ORDER OF THE TRIBUNAL WHICH CALLS FOR A RECTIFICATION. 2. THE LD. D.R. ON THE OTHER HAND HAS SUBMITTED THA T THE TRIBUNAL HAS NOT STATED ANYWHERE THAT IT HAS FOLLOWED THE NET PR OFIT DECLARED BY THE SISTER CONCERN IN THE CORRESPONDING YEAR. THE TRIBUNAL HA S SIMPLY EXAMINED THE NET PROFIT DECLARED BY THE SISTER CONCERN OF THE AS SESSEES. THEREFORE, THE ESTIMATION OF THE TRIBUNAL DOES NOT SUFFER FROM ANY ERROR OR ILLEGALITY. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND CAREFULL Y PERUSED THE TRIBUNALS ORDER VIS--VIS THE MISCELLANEOUS APPLIC ATION AND WE FIND THAT IN MA NO.14/V/11UNITED FREIGHT CARRIERS (VIZAG) PVT. LTD ., VSKP. PARA-10 OF THE TRIBUNALS ORDER, TRIBUNAL HAS ESTIM ATED THE TRANSPORT PROFIT KEEPING IN MIND THE PROFIT DECLARED BY THE SISTER C ONCERN. THE TRIBUNAL HAS NOT SPECIFIED THE ASSESSMENT YEAR IN WHICH THE PROF IT OF SISTER CONCERN WAS DECLARED. SINCE THE TRIBUNAL HAS ESTIMATED THE NET PROFIT FROM CONTRACTUAL TRANSPORT BUSINESS KEEPING IN MIND THE PROFIT DECLA RED BY THE SISTER CONCERN, NO ERROR APPARENT IN THE ORDER OF THE TRIBUNAL IS N OTICED. THEREFORE, WE FIND NO MERIT IN THE MISCELLANEOUS APPLICATION OF THE AS SESSEES. ACCORDINGLY, WE DECLINE TO INTERFERE WITH THE ORDER OF THE TRIBUNAL . 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION OF THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 13.4.2011 SD/- SD/- (BR BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 13 TH APRIL, 2011 COPY TO 1 UNITED FREIGHT CARRIERS (VIZAG) (P) LTD., PLOT NO.1 65A, APIIC, PEDAGANTYADA, GAJUWAKA, VISAKHAPATNAM 2 ACIT, CIRCLE - 4(1), WARD - 3(1), VISAKHAPATNAM 3 THE CI T, VISAKHAPAT NAM 4 THE CIT (A) , VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM