M/s. Mohan Cotton Ginning(p), Limited, Garagapadu V. The Assistant Commissioner of Income Tax, Cercle-2(1), Guntur

MA 25/VIZ/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 2150 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 1 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 27-05-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 02-05-2024
• Assessment Year: 2014-2015
• Appeal Filed On: 16-04-2023
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: APARNA VILLURI
• Keywords: Gift

Judgement Text

आयकर अपीलीयअधिकरण, विशाखापटणम पीठ, विशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री द ु व्ि ू रु आर एल रेड्डी, न्याययक सदस्य एिं श्री एस बालाक ृ ष्णन, लेखा सदस्य के समक्ष BEFORE SHRI DUVVURU RL REDDY, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER (Through Hybrid Hearing) M.A. No. 25/Viz/2023 (In आयकर अपील सं./ I.T.A. No.678/Viz/2019) (निर्धारण वर्ा / Assessment Year :2014-15) M/s. Mohan Cotton Ginning (P) Ltd., Garapadu Village, Guntur District, Andhra Pradesh. PAN: AAICM 5397 D Vs. Assistant Commissioner of Income Tax, Circle-2(1), Guntur. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थी की ओर से/ Appellant by : Sri M. Madhusudan, AR प्रत्यधर्थी की ओर से / Respondent by : Dr. Aparna Villuri, Sr. AR स ु िवधई की तधरीख / Date of Hearing : 03/05/2024 घोर्णध की तधरीख/Date of Pronouncement : 28/05/2024 O R D E R PER S. BALAKRISHNAN, Accountant Member : This Miscellaneous Application is filed by the assessee seeking rectification of the order of the Tribunal in ITA No.678/Viz/2019 (AY 2014-15), dated 16/11/2022. 2 2. At the outset, the Ld. Authorized Representative [AR] pleaded that while adjudicating the appeal of the assessee the Tribunal has found that the confirmation letters furnished by the assessee seem to be an afterthought and therefore the assessee’s submission that various parties provided funds could not be considered as genuine. He further pleaded that even the gift given by the father which was confirmed by him vide confirmation letter dated 05/09/2021 was considered as non-genuine by the Tribunal. The Ld.AR therefore pleaded that the mistake in the order of the Tribunal may be rectified. Per contra, the Ld. Departmental Representative relied on the order of the Tribunal. 3. On careful perusal of the order of the Tribunal dated 16/11/2022 (supra), we find that while adjudicating the appeal, the Tribunal has clearly examined the confirmations and sources of funds from various investors and has discussed the matter in detail in paragraphs 5 and 6 of its order. The Tribunal held a view that the confirmations and evidences produced by the investors regarding the sources of income are not genuine and cannot be considered because of the meagre income declared by the various investors while filing their returns of income and non-disclosure 3 of the agricultural income as claimed by the various investors. Hence, we find that there is no mistake apparent on record in the order of the Tribunal (supra) wherein the Tribunal has taken a view based on the material available on record and therefore we are inclined to dismissed the Miscellaneous Application filed by the assessee. 4. In the result, Miscellaneous Application filed by the assessee is dismissed. Pronounced in the open Court on 28 th May, 2024. Sd/- Sd/- (द ु व्ि ू रु आर.एल रेड्डी) (एस बालाक ृ ष्णन) (DUVVURU RL REDDY) (S.BALAKRISHNAN) न्याययकसदस्य/JUDICIAL MEMBER लेखा सदस्य/ACCOUNTANT MEMBER Dated :28/05/2024 OKK - SPS आदेश की प्रतिलिपि अग्रेपिि/Copy of the order forwarded to:- 1. निर्धाररती/ The Assessee – M/s. Mohan Cotton Ginning (P) Ltd., 3- 153, Garapadu Village, Guntur District, Andhra Pradesh. 2. रधजस्व/The Revenue – Asst. Commissioner of Income Tax, Circle-2(1), 2 nd Floor, Rajkamal Complex, Lakshmipuram, Guntur, Andhra Pradesh. 3. The Principal Commissioner of Income Tax 4. आयकर आय ु क्त (अपील)/ The Commissioner of Income Tax (Appeals) 4 5. ववभधगीय प्रनतनिधर्, आयकर अपीलीय अधर्करण, ववशधखधपटणम/ DR, ITAT, Visakhapatnam 6. गधर्ा फ़धईल / Guard file आदेशधि ु सधर / BY ORDER Sr. Private Secretary ITAT, Visakhapatnam