Assistant Commissioner of Income-tax, V. Niki Agro Products P. Ltd.,

MA 21/PUN/2015

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 3796 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 11 month(s) 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-11-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 10-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR MAHESH AKHADE
• Assessee Lawyers: SUNIL GANOO INGH
• Keywords: Tax effect

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.21/PN/2015 (ARISING OUT OF ITA NO.422/PN/2011) ASSESSMENT YEAR 2007-08 ACIT, CIRCLE-2, JALGAON . / APPLICANT V/S NIKI AGRO PRODUCTS PVT. LTD., PLOT NO.V/191/1, MIDC, JALGAON PAN NO.AABCN6531B . / RESPONDENT / APPLICANT BY : DR. MAHESH AKHADE / RESPONDENT BY : S SHRI SUNIL GANOO INGH / ORDER PER R.K. PANDA, AM : THE REVENUE THROUGH THIS MISCELLANEOUS APPLICATION REQUEST S THE TRIBUNAL TO RECTIFY THE ORDER PASSED BY IT SINCE CE RTAIN APPARENT MISTAKES HAVE CREPT IN THE ORDER OF THE TRIBUNAL. 2. THE LD. DEPARTMENTAL REPRESENTATIVE REFERRING TO THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE SUBMITTED THAT THE AO IN THE INSTANT CASE HAS MADE ADDITION OF RS.25 LAKHS U/S.68 OF THE I.T. ACT IN CASE OF 4 PERSONS. THE CIT(A) DELETED RS.15 LAK HS ON ACCOUNT OF ADDITIONS IN THE CASE OF SHRI KRISHNA DAHIYA (RS . 5 LAKHS) / DATE OF HEARING : 04.12.2015 / DATE OF PRONOUNCEMENT: 04.12.2015 2 MA NO.21/PN/2015 AND SHRI SURYAKANT TARACHAND BATEWARA (RS.10 LAKHS). HE HOWEVER SUSTAINED THE ADDITION OF RS.5 LAKHS IN THE CASE OF SHRI A SHISH DAHIYA AND RS. 5 LAKHS IN THE CASE OF SMT. TAMMANA DHANKAR ON THE GROUND THAT THE ABOVE 2 LOAN CREDITORS HAD NOT PROVED THEIR CREDIT WORTHINESS AND IT IS HIGHLY IMPROBABLE AS TO WHY SHRI KRISH NA DAHIYA INSTEAD OF GIVING MONEY DIRECTLY TO THE ASSESSEE COMPANY HAS GIVEN MONEY TO HIS SON AND DAUGHTER-IN-LAW RESPECTIVELY, WHO IN TURN HAVE ADVANCED THE SAME TO THE ASSESSEE COMPANY. HE SUBMIT TED THAT THE DEPARTMENT DID NOT FILE ANY APPEAL AGAINST THE RELIEF GRANT ED BY THE CIT(A) BECAUSE OF LOW TAX EFFECT. THUS, THE SAME DOES NOT MEAN THAT THE DEPARTMENT HAS ACCEPTED IN PRINCIPLE THE RELIEF GRANT ED BY THE CIT(A). IN VIEW OF THE ABOVE, IT IS NOW BROUGHT TO THE NOT ICE OF THE TRIBUNAL SO THAT APPROPRIATE ORDER MAY BE PASSED BY DIS MISSING THE APPEAL FILED BY THE ASSESSEE. 3. THE LD. COUNSEL FOR THE ASSESSEE ON THE OTHER HAND STRONGLY OPPOSED THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE. HE SUBMITTED THAT THE TRIBUNAL AFTER CONSIDERING THE VARIOUS DETAILS FILED BEFORE IT HAD DELETED THE ADDITION CONFIRMED BY THE CIT(A) ON THE GROUND THAT THE LOANS HAVE SUBSEQUENTLY BEEN RETURNE D TO THE LOAN CREDITORS. IT HAS FURTHER HELD THAT THE DEPARTMENT CAN NOT GUIDE THE ASSESSEE AS TO IN WHOSE NAME HE SHOULD HAVE OBTAINED T HE LOAN. SINCE THE TRIBUNAL HAS THOROUGHLY DISCUSSED THE ISSUE BE FORE DELETING THE ADDITION, THE MISCELLANEOUS APPLICATION FILED BY THE REVEN UE DESERVES TO BE DISMISSED. 4. AFTER HEARING BOTH THE SIDES, WE DO NOT FIND ANY MERIT IN THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE. THE TRIBUNAL HAS NOT DELETED THE ADDITION IN THE HANDS OF THE ASSESSEE ON TH E BASIS OF NON- 3 MA NO.21/PN/2015 FILING OF APPEAL BY THE REVENUE AGAINST THE ORDER OF THE CI T(A) DELETING CERTAIN ADDITIONS. THE TRIBUNAL AFTER CONSIDERING THE FACTUAL ASPECT OF THE MATTER HAS DELETED THE ADDITION. NO APPARENT MIS TAKE COULD BE POINTED OUT BY THE LD. DEPARTMENTAL REPRESENTATIVE IN TH E ORDER PASSED BY THE TRIBUNAL. UNDER THESE CIRCUMSTANCES, WE H OLD THAT THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DEVOID OF ANY MERIT. 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)-II, NASHIK 4. $ S / THE CIT-II, NASHIK 5. ' **+ , + , IQ.KS / DR, ITAT, B PUNE; 6. / / GUARD FILE. / BY ORDER , ' * //TRUE COPY// Y//TRUE COPY// 12 * + / SR. PRIVATE SECRETARY +, IQ.KS / ITAT, PUNE