M/s. Rex Rotary India Pvt. Ltd., CHENNAI V. DCIT, CHENNAI

MA 173/CHNY/2017

• Counselvise Citation: [2018] 123 COUNSELVISE.COM (IT) 5762 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-02-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2006-2007
• Appeal Filed On: 26-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S VIJAYAPRABHA
• Assessee Lawyers: B RAMAKRISHNAN
• Keywords: Reopening of assessment

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI ... , !'# .$%$&,( #) BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER ** / M.P. NO.173/MDS/2017 (IN I.T.A. NO.2980/MDS/2016) & +& / ASSESSMENT YEAR : 2006-07 M/S REX ROTARY INDIA PVT. LTD., C/O CNGSN & ASSOCIATES LLP SWATHI COURT, FLAT C & D, NO.43, VIJAYARAGHAVA ROAD, T. NAGAR, CHENNAI - 600 017. PAN : AABCR 3046 H V. THE DEPUTY COMMISSIONER OF INCOME TAX, COMPANY CIRCLE 5(3), CHENNAI - 600 034. (-.& /PETITIONER) (-/.0/ RESPONDENT) -.& 2 3 /PETITIONER BY : SH. B. RAMAKRISHNAN, CA -/.0 2 3 / RESPONDENT BY : MS. S. VIJAYAPRABHA, JCIT 4 2 5( / DATE OF HEARING : 02.02.2018 67+ 2 5( / DATE OF PRONOUNCEMENT : 07.02.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THE ASSESSEE HAS FILED THE PRESENT MISCELLANEOUS PETITION ON THE GROUND THAT THE REOPENING OF ASSESSMENT WAS HELD TO BE INVALID ONLY IN RESPECT OF THE ADDITION MADE BY THE ASSESSING OFFICER TOWARDS INTEREST ACCRUED. 2 M.P. NO.173/MDS/17 2. SH. B. RAMAKRISHNAN, THE LD. REPRESENTATIVE FOR THE ASSESSEE, SUBMITTED THAT THE ASSESSEE HAS ALSO RAIS ED A GROUND WITH REGARD TO ADDITION OF CREDIT. THIS WAS NOT RE FERRED IN THE ORDERS OF THE TRIBUNAL. THEREFORE, ACCORDING TO THE LD. R EPRESENTATIVE, THERE IS AN ERROR IN THE ORDER OF THIS TRIBUNAL DAT ED 12.04.2017. 3. ON THE CONTRARY, MS. S. VIJAYAPRABHA, THE LD. DE PARTMENTAL REPRESENTATIVE, SUBMITTED THAT THERE IS NO ERROR IN THE ORDER OF THIS TRIBUNAL DATED 12.04.2017. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. ON THE BASIS OF THE BALANCE SHEET FILED BY THE ASSESSEE ALONG WITH RETURN OF INCOME, THE ASSESSING OFFICER FOUND THAT THE INTEREST ACCRU ED BUT NOT DUE HAS ESCAPED FROM ASSESSMENT. THE ASSESSING OFFICER HAS ALSO FOUND FROM THE BALANCE SHEET THAT CURRENT LIABILITI ES AND PROVISION EXHIBITED ALSO NEED TO BE EXAMINED. THE FACT REMAI NS THAT THE ENTIRE DETAILS WERE AVAILABLE BEFORE THE ASSESSING OFFICER IN THE FORM OF BALANCE SHEET AND RETURN OF INCOME. ADMITTEDLY, NO NEW MATERIAL CAME INTO THE POSSESSION OF ASSESSING OFFICER. IT IS ALSO NOT THE CASE OF THE REVENUE THAT THERE WAS NEGLIGENCE ON TH E PART OF THE ASSESSEE TO DISCLOSE THE ENTIRE FACTS REQUIRED FOR COMPLETING THE ASSESSMENT. MERELY BECAUSE THE ASSESSING OFFICER H AS NOT 3 M.P. NO.173/MDS/17 EXAMINED THE DETAILS FURNISHED BY THE ASSESSEE, IT CANNOT BE SAID THAT THERE WAS NEGLIGENCE ON THE PART OF THE ASSESS EE IN DISCLOSING THE MATERIAL FACTS REQUIRED FOR COMPLETING THE ASSE SSMENT. IN VIEW OF THE ABOVE, THIS TRIBUNAL DO NOT FIND ANY ERROR I N THE ORDER OF THIS TRIBUNAL DATED 12.04.2017. THEREFORE, THE MISCELLA NEOUS PETITION FILED BY THE ASSESSEE IS DEVOID OF MERIT. 5. IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED COURT ON 7 TH FEBRUARY, 2018 AT CHENNAI. SD/- SD/- (!'# .$%$& ) ( ... ) (ABRAHAM P. GEORGE) (N.R.S. GANESAN) ( / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 9 /DATED, THE 7 TH FEBRUARY, 2018 KRI. 2 -5:* ;*+5 /COPY TO: 1. -.& / PETITIONER 2. -/.0 /RESPONDENT 3. 4 <5 () /CIT(A) 4. 4 <5 /CIT 5. *= -5 /DR 6. & > /GF.