Sh. Freewill Sport Pvt Ltd, Jalandhar V. The Addl. Commissioner of Income-tax, Jalandhar

MA 3/ASR/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 3963 (ITAT-AMRITSAR)
• Duration Of Justice: 1 year(s) 9 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-03-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 05-02-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 09-06-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R K SHARDA
• Assessee Lawyers: P K ANAND

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH; AMRITSAR BEFORE SH. A.D. JAIN, JUDICIAL MEMBER AND SH. T.S. KAPOOR, ACCOUNTANT MEMBER M.A. NO.03(ASR)/2015 (ARISING OUT OF I.T.A. NO.20(ASR)/2013) ASSESSMENT YEAR:2007-08 PAN :AAACF2160M M/S. FREEWILL SPORTS PRIVATE LIMITED VS. ADDL. COMM R. OF INCOME TAX, S-32, INDUSTRIAL AREA, RANGE-II, JALANDHAR. JALANDHAR. (APPELLANT) (RESPONDENT) APPELLANT BY:SH.P.K.ANAND, CA RESPONDENT BY: SH. R.K. SHARDA, DR DATE OF HEARING: 05/02/2016 DATE OF PRONOUNCEMENT: 29/02/2016 ORDER PER T.S. KAPPOR, AM THIS MISCELLANEOUS APPLICATION HAS BEEN FILED AGAI NST THE ORDER OF THE TRIBUNAL DATED 13.05.2014, PASSED IN ITA NO.20( ASR)/2013 FOR THE ASSESSMENT YEAR 2007-08. 2 THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, SUBMITTED THAT THE ISSUE INVOLVED IN THE ORDER DECIDED BY THE TRIBUNAL RELATED TO THE ALLOWABILITY OF PREMIUM ON KEYMAN INSURANCE POLICY, WHICH THE TRIBUNAL HAD DECIDED AGAINST THE ASSESSEE BY FOLLOWING ITS O RDER IN THE CASE OF M/S. F.C. SONDHI & CO. (INDIA) PVT. LTD. VS. DCIT, IN ITA NO.117(ASR)/2010. THE LD. COUNSEL FURTHER SUBMITTED THAT THE SAID ORDER IN THE CASE OF M/S. F.C. SONDHI & CO (INDIA) PVT. L TD. (SUPRA) WAS RECALLED MA NO.03(ASR)/2015 AY: 2007-08 2 VIDE TRIBUNAL ORDER DATED 31.08.2015 IN M.A. NO.75( ASR)/2014 AND IN THIS RESPECT OUR ATTENTION WAS INVITED TO THE SAID ORDER, WHICH IS PLACED IN THE FILE. THE LD. COUNSEL FOR THE ASSESSEE SUBMI TTED THAT SINCE THE ISSUES INVOLVED ARE SIMILAR AND THE TRIBUNAL HAD DI SMISSED THE APPEAL OF THE ASSESSEE BY FOLLOWING THE ORDER IN THE CASE OF M/S. F.C. SONDHI & CO. (INDIA) PVT.LTD. (SUPRA) AND SINCE THE ORDER ITSEL F HAD BEEN RECALLED BY THE TRIBUNAL, THEREFORE, THE ORDER OF THE PRESENT A SSESSEE ALSO NEEDS TO BE RECALLED. 3. THE LD. DR, HOWEVER, RELIED UPON THE ORDER OF TH E TRIBUNAL PASSED IN THE CASE OF THE ASSESSEE. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND HAVE GO NE THROUGH THE MATERIAL AVAILABLE ON RECORD. WE FIND THAT THE APPE AL OF THE ASSESSEE WAS DISMISSED BY THE TRIBUNAL VIDE ORDER DATED 13.05.20 14 AND THE TRIBUNAL HAD DISMISSED THE APPEAL OF THE ASSESSEE BY FOLLOWI NG THE DECISION IN THE CASE OF M/S. F. C. SONDHI & CO. (SUPRA), PASSED ON DATED 21.04.2014. WE FURTHER FIND THAT THE SAID ORDER OF THE TRIBUNAL H AS BEEN RECALLED IN MISC. APPLICATION VIDE ORDER DATED 31.08.2015. WE FIND THAT SINCE THE APPEAL OF THE ASSESSEE WAS DISMISSED BY FOLLOWING THE ORDER OF M/S. F.C. SONDHI & CO., WHICH STANDS RECALLED, THEREFORE, THE TRIBUNAL ORDER DATED 13.05.2014 PASSED IN THE CASE OF ASSESSEE ALSO NEED S TO BE RECALLED. MA NO.03(ASR)/2015 AY: 2007-08 3 5. IN VIEW OF THE ABOVE, WE RECALL THE ORDER OF TH E TRIBUNAL DATED 13.05.2014 AND FIX THE MAIN APPEAL FOR HEARING ON M ERITS ON 16.03.2016. SINCE THE DATE OF HEARING WAS PRONOUNCED IN THE OPE N COURT, NO SEPARATE NOTICE IS REQUIRED TO BE ISSUED TO THE PARTIES. 6. IN THE RESULT, MISCELLANEOUS APPLICATION IS ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 29/02/20 16 SD/- SD/- (A.D. JAIN) (T.S. KAPOOR) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 29/02/2016 /SKR/ COPY OF ORDER FORWARDED TO: 1. THE ASSESSEE:M/S. FREEWELL SPORTS PVT. LTD., JAL ANDHAR. 2. THE ADDL. CIT, R-II, JALANDHAR. 3. THE CIT(A), JLR 4. THE CIT, JLR 5. THE SR. DR, ITAT, ASR. TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH: AMRITSAR.