M/s SLC Projects Pvt., Ltd., Visakhapatnam V. THE ACIT., CENTRAL CIRCLE - 2, Visakhapatnam

MA 2/VIZ/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 1739 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-03-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 14-02-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: KOMALI KRISHNA

Judgement Text

MP NO.2/VIZAG/2014 SLC PROJECTS PVT. LTD., VSKP IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER MP NO.2/VIZAG/2014 (ARISING OUT OF ITA NO.158/VIZAG/2013) ASSESSMENT YEAR : 2007-08 SLC PROJECTS PVT. LTD. VISAKHAPATNAM VS. ACIT CENTRAL CIRCLE-2 VISAKHAPATNAM (APPELLANT) (RESPONDENT) PAN NO.AAJCS 8616C ASSESSEE BY: SHRI I. KAMA SASTRY, CA REVENUE BY: SMT. KOMALI KRISHNA, ADDL. CIT DATE OF HEARING : 07.03.2014 DATE OF PRONOUNCEMENT : 07.03.2014 ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER:- BY THIS MISCELLANEOUS PETITION, THE ASSESSEE SEEKS RECALL OF THE ORDER DATED 13.12.2013 PASSED IN ITA NO.158/VIZAG/2013 ON THE GROUND THAT WHILE DISPOSING OF THE AFORESAID APPEAL, THE TRIBUNAL HAS NOT ADJUDICATED THE FOLLOWING GROUND: THE LD. AO IS NOT CORRECT IN MAKING ADDITIONS TO T HE RETURNED INCOME AS THE ASSESSMENT FOR THIS YEAR IS NOT PENDING AS O N THE DATE OF SEARCH AND CONSEQUENTLY DOES NOT ABATE. 2. IN THE AFORESAID PETITION AS WELL AS IN COURSE OF HEARING, THE LD. A.R. SUBMITTED THAT THOUGH DETAILED SUBMISSIONS WERE ALS O MADE WITH RESPECT TO THE AFORESAID GROUND, BUT THE TRIBUNAL HAS FAILED T O ADJUDICATE THE SAME. 3. THE LD. D.R. HOWEVER DRAWING OUR ATTENTION TO TH E OBSERVATIONS MADE BY THE TRIBUNAL IN PARA-12 OF ITS ORDER, SUBMITTED THAT THE TRIBUNAL AFTER TAKING INTO CONSIDERATION THE SUBMISSIONS OF THE PA RTIES HAVE DECIDED THE ISSUE. MP NO.2/VIZAG/2014 SLC PROJECTS PVT. LTD., VSKP 2 4. WE HAVE HEARD THE PARTIES AND PERUSED THE MATERI ALS ON RECORD. IT IS TO BE NOTED THAT THE TRIBUNAL DISPOSED OF THE AFORE SAID APPEAL ONLY CONSIDERING THE ISSUE OF ESTIMATION OF PROFIT SINCE THE ASSESSEE DID NOT PRESS ANY OTHER GROUNDS. THE OBSERVATION MADE BY THE TRI BUNAL IN THIS REGARD AS CONTAINED IN PARA-12 OF ITS ORDER IS EXTRACTED HERE UNDER FOR THE SAKE OF CONVENIENCE: IN THE COURSE OF ARGUMENTS, VARIOUS LEGAL ISSUES WE RE RAISED BUT THEY ARE NOT SERIOUSLY PRESSED AND THE ARGUMENTS OF THE LD. COUNSEL ARE WITH REFERENCE TO ESTIMATION OF INCOME AT 9.5%. 5. A REFERENCE TO THE LOG BOOK ALSO REVEALS THAT TH E ASSESSEE HAS NOT ADVANCED ANY ARGUMENT WITH REGARD TO ANY OTHER GROU NDS EXCEPT GROUND NO.4 RELATING TO THE ISSUE OF ESTIMATION OF PROFIT. THEREFORE, THE PRESENT PETITION FILED IS THOROUGHLY MISCONCEIVED AND DESER VES TO BE DISMISSED. ACCORDINGLY, WE DO SO. 6. IN THE RESULT, THE MISCELLANEOUS APPLICATION OF T HE ASSESSEE STANDS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 7 TH MAR14 SD/- SD/- (J. SUDHAKAR REDDY) (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 7 TH MARCH, 2014 COPY TO 1 SLC PROJECTS PVT. LTD., 50-104-2, PLOT NO.A-20, T PT COLONY, SEETHAMMADHARA, VISAKHAPATNAM 2 ACIT CENTRAL CIRCLE-2, VISAKHAPATNAM 3 THE CIT (CENTRAL), HYDERABAD 4 THE CIT(A), VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM