M/s. Indu Nissan Oxo Chemical Indus.Ltd., Baroda. V. The DY. CIT., Cent.Circle-1, Baroda.

MA 266/AHD/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6528 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 month(s) 1 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 11-05-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 1999-2000
• Appeal Filed On: 09-11-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S N DIVETIA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: SHR I MAHAVIR PRASAD , JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER M/S. INDU NISSAN OXO CHEMICAL IND. LTD. BAJUA CHHANI ROAD, B/H. GSFC COMPLEX, VADODARA - 391310 PAN: AAACI4359M (APPELLANT) VS THE DCIT, CEN. CIRCLE - 1, BARODA (RESPONDENT) REVENUE BY : S H RI MUDIT NAGPAL , SR. D . R. ASSESSEE BY: S H RI S.N. DIVETIA , A.R. DATE OF HEARING : 20 - 04 - 2 018 DATE OF PRONOUNCEMENT : 11 - 05 - 2 018 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THE ASSESSEE HAS FILED MISCELLANEOUS APPLICATION IN ITA NO. 1295/AHD/2015 WHICH IS AS UNDER: - 1. THE APPLICANT ABOVE NAMED SUBMITS THIS MISC. APPLICATION U/S. 254(2) OF THE IT ACT 1961 (FOR SHORT 'THE ACT') FOR RECTIFICATION OF THE ORDER OF THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH - D., AHMEDABAD, WHICH WAS PASSED ON 02.08.2017 WHEREBY THE APPEAL OF THE APPLICANT HAS BEEN PARTLY ALLOWED. 2. THE APPLICANT SUBMITS THAT BEING AGGRIEVED AND D ISSATISFIED WITH THE ORDER PASSED U/S.250 OF THE ACT ON 23.03.2004 BY CIT(A) - IIJ AHMEDABAD PARTLY CONFIRMING THE ORDER PASSED U/S.143(3) ON 28.03.2002 BY THE RESPONDENT, THE APPLICANT HAD PREFERRED AN APPEAL BEFORE THE APPELLATE TRIBUNAL WHEREIN THE APPLIC ANT HAD CHALLENGED VARIOUS ADDITIONS/DISALLOWANCES SO CONFIRMED. 3. THE APPLICANT SUBMITS THAT ONE OF THE GROUNDS OF APPEAL RELATED TO THE ADDITION OF RS.41,17,195/ - AS UNACCOUNTED SALE OF THE SEMI - FINISHED ISO DECANOL OF 94.91MT SHOWN AS OPENING M.A. NO. 266 /AHD/2017 (IN I T A NO . 1295 / A HD/20 04 ) A SSESSMENT YEAR 1999 TO 2000 M.A. NO. 266/AHD/2017(IN I.T.A NO. 1295/AHD/2004) A.Y.1999 TO2000 PAGE NO M/S. INDU NISSAN OXO CHE M ICAL IND. LTD. VS. DCIT 2 STOCK BUT THERE WAS NO CORRESPONDING SALES OR CLOSING STOCK IN THE CURRENT YEAR. DURING THE COURSE OF APPELLATE PROCEEDINGS, THE APPLICANT CONTENDED THAT IT WAS AN OBSOLETE STOCK SO THAT IT WAS VALUED AT NIL AND THERE WAS NO QUESTION OF UNACCOUNTED SALES IN VIEW O F THE APPLICANT SUBJECTED TO CENTRAL EXCISE. IT WAS ALSO POINTED OUT THAT DURING THE COURSE OF SEARCH ON 28.03.2002, NO INCRIMINATING MATERIAL WAS FOUND SHOWING SUCH UNACCOUNTED SALES. THE APPLICANT HAD FURTHER CONTENDED THAT IT WAS A CASE OF MULTIPLE ADDI TIONS IN VIEW OF THE BOOKS BEING REJECTED AND ADDITIONS MADE TOWARDS GP BY AO. THE SYNOPSIS SUBMITTED DURING THE COURSE OF APPELLATE PROCEEDINGS BEFORE THE TRIBUNAL ON 02.05.2017 POINT OUT THE AFORESAID CONTENTIONS. 4. THE AFORESAID GROUND OF APPEAL HAS BE EN DISPOSED OF FOR THE REASONS STATED IN PARA - 24 OF THE SAID ORDER. IT APPEARS FROM THE ORDER OF THE HON. TRIBUNAL THAT NEITHER THE SAID SYNOPSIS NOR THE CASE LAW CITED DURING THE HEARING OF THE APPEAL HAVE BEEN CONSIDERED. THE CONTENTION RELATING TO MULTI PLE ADDITION ALSO REQUIRES TO BE CONSIDERED WHILE DISPOSING OF THIS GROUND OF APPEAL. 5. IN VIEW OF ABOVE FACTS AND CIRCUMSTANCES, THE APPLICANT SUBMITS THAT THE ORDER PASSED BY THE HON BLE TRIBUNAL MAY BE RECALLED FOR THE LIMITED PURPOSE OF ADJUDICATING T HE SAID GROUND OF APPEAL QUA THE REST OF THE CONTENTIONS OF THE APPLICANT, SYNOPSIS, CASE LAWS AND OTHER MATERIAL PRODUCED DURING THE APPELLATE PROCEEDINGS BEFORE THE TRIBUNAL AND THE APPEAL SHOULD BE FIXED FOR FRESH HEARING FOR DISPOSAL ON MERITS, OTHERWI SE IT WOULD CAUSE GREAT INJUSTICE AND HARDSHIP TO THE APPLICANT WITHOUT ANY CAUSE ATTRIBUTABLE TO IT. 6. NEEDLESS TO SAY FOR THIS ACT OF KINDNESS, THE APPLICANT AS IN DUTY BOUND SHALL FOREVER PRAY AND REMAIN GRATEFUL. 2. THE ASS ESSEE HAS FILED THE MISC . APPLICATION AGAINST THE DECISION OF THE COORDINATE BENCH OF THE ITAT DATED 02/08/2017 OF UP HOLDINGS THE FINDINGS OF THE LD.CIT(A) FOR SUSTAINING THE ADDITION OF RS. 41,17,195/ - ON ACCOUNT OF UNACCOUNTED SALE. THE BRIEF FACT OF THIS ISSUE IS THAT D URING THE COURSE OF APPELLATE PROCEEDINGS , THE A SSESSEE HAD SHOWN OPENING STOCK OF SEMI - FINISHED ISO DECANO L OF 9 4.91 MT. BUT IN THE CLOSING STOCK , THE STOCK WAS SHOWN AT NIL. DURING THE COURSE OF ASSESSMENT PROCEEDINGS AND APPELLATE PROCEEDINGS, THE ASS SSSEE HAD FAILED TO SUBSTANTIATE WITH THE SUPPORTING EVI DENCES THAT SUCH QUANTUM OF FULL STOCK HAS BECOME O BSOLE TE AND WRITTEN OFF. IN THE SYNOPSIS, THE ASSESSEE DURING THE COURSE OF APPELLATE PROCEEDINGS BEFORE U S H AS SUBMITTED THAT SINCE IT WAS A N O BSOL ETE STOCK IT W AS VALUED AT NIL . IN THIS CONNECTION WE FIND THAT THE ASSESSEE HAS FAILED TO SUBSTANTIATE WITH THE RELEVANT MATERIAL BEFORE THE LOWER AUTHORITIES AND AT THE THIRD STAGE BEFORE THE COORDINATE BENCH OF THE ITAT THAT SAID STOCK WAS WRITTEN OFF AT NIL VALUE BECAUSE OF OBSOLESCENCE. WE COULD NOT FIND ANY SPECIFIC MATERIAL WHICH CAN DEMONSTRATE THAT THERE WAS APPARENT M.A. NO. 266/AHD/2017(IN I.T.A NO. 1295/AHD/2004) A.Y.1999 TO2000 PAGE NO M/S. INDU NISSAN OXO CHE M ICAL IND. LTD. VS. DCIT 3 MISTAKE IN THE DECISION OF THE ITAT WH ICH CAN BE RECTIFIED U/S. 254(2) OF THE ACT. ACCORDINGLY, THE MISCELLANEOUS APPEAL OF THE AS SESSEE IS REJECTED. 3. IN THE RESULT, THE MISC. APPLICATION FILED BY ASSESSEE IS DISMISSED. ORDER PR ONOUNCED IN THE OPEN C OURT ON 11 - 05 - 201 8 SD/ - SD/ - ( MAHVAVIR PRASAD ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 11 /05 /2018 / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,