ACIT Corporate, Cochin V. M/s.Plant LIpids P. Ltd, Ernakulam

MA 173/COCH/2021

AI Insights

The case involves a Miscellaneous Petition by the Revenue against Plants Lipids Pvt Ltd concerning an earlier Tribunal decision that dismissed the Revenue's appeal in limine under section 268A of the Income Tax Act, 1961. The Revenue contended that their appeal was covered by an exception in Board Circular 3/2018, which was acknowledged by the Tribunal in its earlier dismissal order. The Tribunal, upon reviewing the circumstances and with no objection from the assessee, decided to restore the Revenue's appeal for a decision on its merits.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115467 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 9 month(s) 10 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-09-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 28-11-2021
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Audit objection
• Section: 268A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Manomohan Das, Judicial Member MPNo. 173/Coch/2021 (Arising out of ITA No. 32/Coch/2020) (Assessment Year: 2012-13) Asst. CIT, Corporate Circle-2(1) C.R. Building I.S. Press Road Kochi 682018 vs. Plants Lipids Pvt Ltd. Kadayiruppu, Kolencherry Ernakulam 683101 [PAN: AABCP6061C] (Applicant) (Respondent) Applicant by: Smt. J.M. Jamuna Devi, Sr. D.R. Respondent by: Shri Thomson Thomas, CA Date of Hearing: 08.09.2023 Date of Pronouncement:08.09.2023 O R D E R PerSanjay Arora, AM This Miscellaneous Petition (MP) by the Revenue is in respect of the Order dated 21.10.2020 by the Tribunal dismissing the Revenue’s appeal in limine under section 268A of the Income Tax Act, 1961 (hereinafter ‘the Act’). 2. The Revenue has per it’s instant petition, placing the relevant material on record, made out a case that it’s appeal under reference was in fact covered by the exception listed in the Board Circular 3/2018, dated 11.07.2018. The right to move it in this respect stands saved by the Tribunal while dismissing the Revenue’s appeal per the impugned order, vide para 3.1 thereof. Shri Thomas, the learned counsel for the assessee, on being enquired in the matter by the Bench, fairly conceded that the assessee had, under the circumstances, no objection to the recall of the Revenue’s appeal. MP No. 173/Coch/2021 (AY : 2012-13) Asst. CIT v. Plants Lipids Pvt. Ltd. 2 3. We have heard the parties, and perused the material on record, to find that the issue raised by the Revenue per the audit objection is the same as stands agitated by the Revenue per it’s instant appeal. We accordingly direct for restoration of the Revenue’s appeal for being decided by the Tribunal on merits in accordance with law after given due opportunity of hearing to the parties. We decide accordingly. 4. In the result, the MP filed by the Revenue is allowed. Order pronounced in the open court on the conclusion of the hearing. Sd/- Sd/- (Manomohan Das) (Sanjay Arora) Judicial Member Accountant Member Cochin, Dated: September 08, 2023 n.p. Copy to: [ 1. The Applicant 2. The Respondent 3. The Pr. CIT concerned By Order 4. The Sr. DR, ITAT, Cochin 5. Guard File Assistant Registrar ITAT, Cochin