D,C.I.T. CENTRAL CIR.- 2(1), Nagpur V. M/S MAHENDRA CONSTRUCTIOIN & M.G. BHAANGADIYA (JV), Nagpur

MA 15/NAG/2017

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 2885 (ITAT-NAGPUR)
• Duration Of Justice: 2 year(s) 2 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-02-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 13-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: U U KASAR; ANGES THOMAS
• Assessee Lawyers: PRADIP VAIDYA

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL BENCH, NAGPUR (AT E-COURT, PUNE) BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI PARTHA SARATHI CHAUDHURY, JM . / MA NOS.08 & 09/NAG/2017 (IN ITA NOS.64 & 65/NAG/2016) A. YRS. : 2009-10 & 2010-11 DCIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. SHRI KIRTIKUMAR M. BHANGADIYA, 20-2, HOUSE NO.526, NEAR GETWELL HOSPITAL, DHANTOLI, NAGPUR-440012. PAN : AGYPB1659G / RESPONDENT . / MA NOS.10 & 14 TO 16/NAG/2017 (IN ITA NOS.66 TO 65/NAG/2016) A. YRS. : 2007-08 TO 2010-11 DCIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. M/S MAHENDRA CONSTRUCTION & M. G. BHAANGADIYA, 905, B WING, LOKMAT BHAVAN, WARDHA ROAD, NAGPUR-440010 PAN : AANFM5658B / RESPONDENT . / MA NOS.11 & 19/NAG/2017 (IN ITA NOS.76 & 77/NAG/2016) A. YRS. : 2007-08 & 2008-09 DCIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. M/S. S. S. PATIL & CO. & M. G. BHANGADIYA (JV), 908-909, B WING, LOKMAT BHAVAN, WARDHA ROAD, NAGPUR-440012 PAN : ABIFS3645L / RESPONDENT 2 . / MA NOS.12 & 20/NAG/2017 (IN ITA NOS.81 & 78/NAG/2016) A. YRS. : 2011-12 & 2007-08 ACIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. SHRI SANJAY RAMESHCHANDRAJI HEDA, PLOT NO.32, SWASTIK NAGAR, NEAR WATER TANK, AMRAVATI-444601. PAN : AADPH7109J / RESPONDENT . / MA NO.13/NAG/2017 (IN ITA NO.285/NAG/2016) A. Y. : 2012-13 DCIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. M/S. MKS CONSTRO VENTURE PVT. LTD., 905, B WING, LOKMAT BHAVAN, WARDHA ROAD, NAGPUR-440012 PAN : AAHCM0383J / RESPONDENT . / MA NOS.17 & 18/NAG/2017 (IN ITA NOS.73 & 74/NAG/2016) A. YRS. : 2010-11 & 2011-12 DCIT, CENTRAL CIRCLE-2(1), NAGPUR. ....... / APPELLANT / V/S. M/S. K. M. BHANGADIYA & MAHENDRA CONSTRUCTION (JV), 905, B WING, LOKMAT BHAVAN, WARDHA ROAD, NAGPUR-440010 PAN : AAKFK1820C / RESPONDENT REVENUE BY : SHRI U. U. KASAR, SR. DR & SMT. ANGES THOMAS, SR. DR ASSESSEE BY : SHRI PRADIP VAIDYA, CA / DATE OF HEARING : 21.02.2020 / DATE OF PRONOUNCEMENT : 24.02.2020 3 / ORDER PER BENCH : THE CAPTIONED MISCELLANEOUS APPLICATIONS ARISE FROM THE RESPECTIVE REVENUES APPEALS MENTIONED IN THE ABOVE CAUSE TITLE OF THIS ORDER. 2. BEFORE US, AT THE OUTSET, LD. DR FOR THE REVENUE SUBMITTED THAT THE PRESENT MAS FILED BY THE REVENUE INVOLVING VARIOUS DIFFERENT ASSESSMENT YEARS. THE COMMON ISSUES IN ALL THE MAS REVOLVE AROUND THE SETTLED LEGAL PROPOSITION, IF THE ASSESSED INCOME SHOULD FALL BELOW THE LESSER RETURNED INCOME OF THE ASSESSEE. IN ALL THESE MAS, IT IS MENTIONED THAT THE DIRECTIONS OF THE TRIBUNAL BY DENYING THE PERCENTAGE ON GROSS PROFITS IS BEING FELL BELOW THE RETURNED INCOME. 3. ON THE OTHER HAND, LD. AR FOR THE ASSESSEE MENTIONED THAT SUCH ARGUMENT ALREADY MADE BY THE ASSESSEE DURING THE APPELLATE PROCEEDINGS. WHILE GIVING EFFECT TO THE ORDERS OF THE TRIBUNAL, THE ASSESSING OFFICER IN ALL THE CASES QUANTIFIED THE ASSESSED INCOME WHICH HAPPENED TO BE BELOW THE RETURNED INCOME MARGINALLY. 4. IN THIS BACKGROUND OF THE FACTS, BOTH THE LD. COUNSELS FOR THE ASSESSEE AND THE REVENUE SUBMITTED THAT CONSIDERING THE STATEMENT MADE BY THE LD. COUNSEL DURING THE APPELLATE PROCEEDINGS, THE INCOME ASSESSED SHOULD NOT FALL BELOW THE RETURNED INCOME, WHICH HAPPENED IN THESE CASES POSTERIOR TO THE TRIBUNAL ORDERS. THEREFORE, IT IS PRAYER OF BOTH THE LD. COUNSELS THAT THE RETURNED INCOME SHOULD BE MINIMUM ASSESSED INCOME IN ALL THE CASES WHEREVER REQUIRED. THE DIRECTION IS REQUIRED TO BE ISSUED TO THE ASSESSING OFFICER ACCORDINGLY. THE LD. COUNSEL FOR THE ASSESSEE HAS NO OBJECTION TO THE SAME. ACCORDINGLY, WE RECTIFY OUR ORDERS, AS THE CASE MAY BE. THEREFORE, THE 4 ASSESSING OFFICER IS DIRECTED TO ADOPT THE RETURNED INCOME AS ASSESSED INCOME WHEREVER THE INCOME ASSESSED FALLS BELOW THE RETURNED INCOME. ACCORDINGLY, ALL THE ABOVE CAPTIONED MAS FILED BY THE REVENUE ARE ALLOWED AS ABOVE. 5. IN THE RESULT, ALL THE MAS FILED BY THE REVENUE FOR THE DIFFERENT ASSESSMENT YEARS ARE ALLOWED. ORDER PRONOUNCED ON THIS 24 TH DAY OF FEBRUARY, 2020. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (D. KARUNAKARA RAO) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / PUNE; / DATED : 24 TH FEBRUARY, 2020. SUJEET / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(A) 4. THE CIT 5. , , / DR, ITAT, NAGPUR. 6. / GUARD FILE. / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE.