Assistant Commissioner of Income-tax, V. Shri Kargaonkar A. Prabhakar (HUF), Kolhapur

MA 18/PUN/2015

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 3797 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 14-08-2015
• Assessment Year: misc
• Appeal Filed On: 02-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B C MALAKAR
• Assessee Lawyers: M K KULKARNI INGH
• Keywords: Bad and doubtful debts

Judgement Text

] IQ.KS ] IQ.KS ] IQ.KS ] IQ.KS IQ.KS IQ.KSIQ.KS IQ.KS IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE , . . , # BEFORE MS. SUSHMA CHOWLA, JM AND SHRI R.K. PANDA, AM $$ . / MA NO.18/PN/2015 (ARISING OUT OF ITA NO.308/PN/2006) BLOCK PERIOD 1997-98 TO 2003-04 ACIT, CIRCLE-2, KOLHAPUR . / APPLICANT V/S SHRI KORGAONKAR ANIL PRABHAKAR (HUF), 345, SHAHUPURI, KOLHAPUR PAN NO. AAEHK4407R . / RESPONDENT / APPLICANT BY : SHRI B.C. MALAKAR / RESPONDENT BY : S SHRI M.K. KULKARNI INGH / ORDER PER R.K. PANDA, AM : THE REVENUE THROUGH THIS MISCELLANEOUS APPLICATION REQUEST S THE TRIBUNAL TO RECALL THE ORDER PASSED BY IT SINCE CERTA IN MISTAKES HAVE CREPT IN THE ORDER OF THE TRIBUNAL. 2. THE LD. COUNSEL FOR THE ASSESSEE DREW THE ATTENTION OF THE BENCH TO THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE WHICH READS AS UNDER : A COPY OF THE DECISION OF THE ITAT PUNE BENCH B P UNE IN RESPECT OF ITA NO.308/PN/2006 PASSED ON 31-08-2012 HAS BEEN RECEIVED BY THE OFFICE OF THE COMMISSIONER OF INCOME TAX-II, KOLHAPUR ON 24- 09-2012. / DATE OF HEARING : 06.11.2015 / DATE OF PRONOUNCEMENT:04.12.2015 2 MA NO.18/PN/2015 IN THIS CASE, THE ASSESSEE, HAD PREFERRED APPEAL BEFORE THE ITAT PUNE BENCH B PUNE AGAINST THE ORDER OF CIT(A), KOLHAPUR DATED 30-12-2005. WHILE PASSING THE ORDER, THE HONBLE TRIBUNAL HAD ALL OWED A CLAIM OF BAD DEBTS/BUSINESS LOSS TO THE TUNE OF RS.1,21,28,468/- IN ADD ITION TO CLAIM ALLOWED BY THE CIT(A) KOLHAPUR TO THE EXTENT OF RS.2 5,26,000/-. THE ABOVE AMOUNT OF BAD DEBTS/BUSINESS LOSS CLAIMED BY THE ASSE SSEE OF RS.1,21,28,468/- WAS NOT ALLOWED BY THE ASSESSING OFFICER AS WELL AS BY THE CIT(A) KOLHAPUR FOR THE REASON THAT SUCH ADVANCE OF UNACCOUNTED MONEY LENDING ACTIVITY WERE LENT TO THE BLOCK PERIO D. THESE FACTS WERE REMAINED TO BE CONSIDERED BY THE HONBLE TRIBUNAL WH ILE PASSING THE ABOVE ORDER. IN VIEW OF THE ABOVE FACTS THE ORDER PASSED BY THE HON BLE ITAT NEEDS TO RECONSIDERED IN THE LIGHT OF THE FOLLOWING REASONS WHI CH WERE IGNORED BY THE ITAT PUNE WHILE PASSING THE ABOVE REFERRED ABOVE : (A) RELIEF ALLOWED TO THE ASSESSEE EXCEEDED RELIEF SOUGHT BY THE ASSESSEE. (B) THE TRIBUNAL HAS NOT TAKEN NOTE OF THE FACT THAT BUSI NESS LOSS/BAD DEBTS CLAIMED RELATED TO UNACCOUNTED ADVANCES MADE PR IOR TO THE BLOCK PERIOD, WHICH WERE NOT INCLUDED IN THE NET ASSE T METHOD OF VALUATION. IN VIEW OF THE ABOVE IT IS REQUESTED THAT THE HONBLE ITAT MAY BE PLEASED TO RECALL THE MATTER FOR APPROPRIATE ACTION. 3. HOWEVER, THE LD. DEPARTMENTAL REPRESENTATIVE SUBMITTE D THAT IN VIEW OF THE SUBSEQUENT ORDER PASSED BY THE TRIBUNAL IN THE CASE OF DCIT VS. SHRIL ANIL PRABHAKARPANT KORGAONKAR (HUF) VIDE IT A NOS. 693 & 694/PN/2013 AND CO NOS. 90 & 91/PN/2014 FOR TH E BLOCK PERIOD 1997-98 TO 2003-04 ORDER DATED 04-09-2015 NOT HING REMAINS. THEREFORE, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE BECOMES INFRUCTUOUS. 4. AFTER HEARING BOTH THE SIDES, WE FIND THE TRIBUNAL VIDE ITA NOS.308, 1022 AND 499/PN/2006 FOR THE BLOCK PERIOD 1997- 98 TO 2003-04 WHILE ALLOWING THE APPEAL FILED BY THE ASSESSEE HAD DISMISSED THE APPEAL FILED BY THE REVENUE ON THE GROUND T HAT REVENUE HAD NOT FILED GROUNDS OF APPEAL BUT HAS FILED ONLY AUTHORIZATION MEMO FOR WHICH IT WAS HELD TO BE DEFECTIVE. T HE TRIBUNAL ACCORDINGLY DISMISSED THE APPEAL OF THE REVENUE. HOWEVER, AT THE SAME TIME, IT WAS DIRECTED THAT REVENUE CAN FILE FRE SH APPEAL 3 MA NO.18/PN/2015 AFTER REMOVING THE DEFECTS. SUBSEQUENTLY, THE REVENUE FILE D APPEALS VIDE ITA NOS.693 & 694/PN/2013 AND THE TRIBUNAL VIDE ORD ER DATED 04-09-2015 HAS DECIDED THE APPEALS FILED BY THE REVENUE AND DISMISSED THE GROUNDS RAISED BY IT. SINCE THE TRIBUNAL HAS ALREADY CONSIDERED THE GRIEVANCE OF THE REVENUE IN THE SUBSEQUE NT ORDER, THEREFORE, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE BECOMES INFRUCTUOUS. ACCORDINGLY, THE SAME IS DISMISSED. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 04-12-2015. SD/- SD/- ( SUSHMA CHOWLA ) ( R.K. PANDA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER IQ.KS PUNE ; DATED : 04 TH DECEMBER, 2015. LRH'K ' (*$ +$ / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. $ ( ) - THE CIT(A), KOLHAPUR 4. $ S / THE CIT, KOLHAPUR 5. ' **+ , + , IQ.KS / DR, ITAT, B PUNE; 6. / / GUARD FILE. / BY ORDER , ' * //TRUE COPY// //TRUE COPY// 12 * + / SR. PRIVATE SECRETARY +, IQ.KS / ITAT, PUNE