Assistant Commissioner of Income-tax, V. Sandvik Asia Mining & Construction Tools India P.Ltd., Pune

MA 18/PUN/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5744 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 3 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 14-06-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 02-06-2017
• Assessment Year: 2005-2006
• Appeal Filed On: 23-02-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SNEHA PAI; SRINIWAS
• Keywords: Rectification of order; Bad and doubtful debts
• Section: 115JB; 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE , , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM . /MA NO. 18 /P U N/ 20 1 6 ARISING OUT OF ITA NO. 1 4 2 6 /P U N/20 1 3 ASSESSMENT YEAR : 200 5 - 0 6 THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE - 10, PUNE ... APPLICANT VS. SANDVIK ASIA MINING & CONSTRUCTION TOOLS INDIA PVT. LTD., (NOW MERGED WITH SAND VIK ASIA LTD.) 4, BOMBAY - PUNE ROAD, DAPODI, PUNE 411012 ... RESPONDENT PAN: AAHCS249R APPLICANT BY : SHRI YOGESH KAMAT, ADDL. CIT RESPONDENT BY : MS. SNEHA PAI & SHRI SRINIWAS / DATE OF HEARING : 02 . 0 6 .201 7 / DATE OF PRONOUNCEMENT: 14 . 0 6 .201 7 / ORDER PER SUSHMA CHOWLA , JM : THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS APPLICATION AGAINST THE ORDER OF TRIBUNAL DATED 16.09.2015. 2 M A NO. 18 /P U N/20 1 6 ARISING O UT OF ITA NO. 14 2 6 /P U N/ 20 1 3 2. THE REVENUE IS AGGRIEVED BY THE DISPOSAL OF THE ISSUE REL ATING TO PROVISION OF DOUBTFUL DEBTS OF RS.40,64,469/ - WHILE COMPUTING BOOK PROFITS UNDER SECTION 115JB OF THE ACT. THE GRIEVANCE OF THE REVENUE APPLICANT IS THAT THE ASSESSEE RESPONDENT HAD NOT RAISED THE ISSUE IN ITS GROUND OF APPEAL AND THE TRIBUNAL HA D RAISED THE SAID ISSUE AND DECIDED THE SAME SUO MOTO AND ADJUDICATED IN FAVOUR OF THE ASSESSEE RESPONDENT. THE LEARNED DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE REFERRED TO THE ORDER OF TRIBUNAL AND ALSO REFERRED TO THE GROUNDS OF APPEAL. 3. THE LEARN ED AUTHORIZED REPRESENTATIVE FOR THE ASSESSEE RESPONDENT ON THE OTHER HAND, POINTED OUT THAT THE GROUND OF APPEAL NO.1 RAISED BY THE ASSESSEE IS AGAINST RECTIFICATION ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 154 OF THE ACT AND THE ADDITION WAS M ADE BY WAY OF RECTIFICATION ORDER ON A DEBATABLE ISSUE AND HENCE, THE ISSUE IS COVERED BY THE GROUND OF APPEAL NO.1 ITSELF. 4. WE HAVE PERUSED THE ORDER OF TRIBUNAL AND THE SHOW CAUSE NOTICE ISSUED UNDER SECTION 154 OF THE ACT , WHICH IS EXTRACTED UNDER PA RA 3.2 AND IN THE SHOW CAUSE NOTICE, THE PARTICULARS OF MISTAKES PROPOSED TO BE RECTIFIED ARE OUTLINED AND IT INCLUDES THE PROVISION FOR DOUBTFUL DEBTS AMOUNTING TO RS.40,64,469/ - . THE SAID ADJUSTMENT WAS MADE IN THE BOOK PROFITS UNDER SECTION 115JB OF TH E ACT , WAS MADE VIDE ORDER PASSED UNDER SECTION 154 OF THE ACT, AGAINST WHICH THE ASSESSEE RESPONDENT HA D FILED THE PRESENT APPEAL. THE ISSUE BEING RAISED BY WAY OF GROUND OF APPEAL NO.1 HAS BEEN DECIDED BY THE TRIBUNAL VIDE ORDER DATED 16.09.2015, THERE IS NO MERIT IN THE PRESENT MISCELLANEOUS APPLICATION FILED BY THE 3 M A NO. 18 /P U N/20 1 6 ARISING O UT OF ITA NO. 14 2 6 /P U N/ 20 1 3 REVENUE ALLEGING THAT NO SUCH ISSUE WAS RAISED BY THE ASSESSEE RESPONDENT . HENCE, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. 5 . IN THE RESULT, THE M ISCELLANEOUS APPLICATION OF REVENUE IS DISMISSED. ORDER P RONOUNCED ON THIS 14 TH DAY OF JUNE , 201 7 . SD/ - SD/ - ( ANIL CHATURVEDI ) ( SUSHMA CHOWLA ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE ; DATED : 14 TH J UNE , 2017 6 . GCVSR / COPY OF THE ORDER IS FORWARDED TO : 1. THE APPELLANT ; 2. THE RESPONDENT; 3. THE CIT(A) - V, PUNE; 4. THE CIT - V , PUNE; 5. THE DR A, ITAT, PUNE; 6. GUARD FILE . / BY ORDER , // TRUE COPY // / ASSISTANT REGISTRAR, , / ITAT, PUNE