SMT. ASHARFI DEVI, Alwar V. ITO, Alwar

MA 39/JPR/2012

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 2093 (ITAT-JAIPUR)
• Duration Of Justice: 2 year(s) 8 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 18-07-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 10-07-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: D C SHARMA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH: JAIPUR (BEFORE SHRI R.P. TOLANI AND SHRI T.R. MEENA) M.A. NO. 39/JP/2012 (ARISING OUT OF I.T.A. NO. 158/JP/2012) ASSTT. YEAR-2008-09 PAN NO. AHXPA1297M SMT. ASHARFI DEVI, THE I.T.O. PROP. M/S MAHADEV PRASAD AGARWAL, VRS. WARD 1(3), A LWAR. CLOTH MERCHANTS, GANESH MARKET, ALWAR. (APPELLANT) (RESPONDENT) ASSESSEE BY :- WRITTEN SUBMISSION. DEPARTMENT BY :- SHRI D.C. SHARMA. DATE OF HEARING : 11/07/2014 DATE OF PRONOUNCEMENT : 18/07/2014 O R D E R PER: T.R. MEENA, A.M. THE ASSESSEE HAS FILED THIS M.A. AGAINST THE ORDER OF THE B BENCH OF ITAT, JAIPUR IN ITA NO. 158/JP/2012, WHICH WAS PASSED ON 01/06/2012. 2. IN THIS CASE, THE ITAT B BENCH OF JAIPUR HAS DE CIDED ITA NO. 158/JP/2012 FOR A.Y. 2008-09 ON THE BASIS OF WRITTEN SUBMISSION FILED BY THE ASSESSEE ON 01/06/2012 AND THE ASSESSEES APPEAL WAS PARTLY ALLOWED BY THE BENCH. 2 3. NOW THE ASSESSEE HAS FILED THIS M.A. IT WAS SUBMIT TED THAT SHRI DEVENDRA KUMAR, PROPRIETOR OF M/S M.P. FOOD PRODUCT , ALWAR HAS NO SISTER CONCERN OF THE ASSESSEE. THE HON'BLE SUPREME COURTS DECISION IN THE CASE OF S.A. BUILDERS LTD. VS CIT (APPEALS) & ANR. (2007) 2 88 ITR 1 (SC) IS NOT APPLICABLE IN ASSESSEES CASE. THE ASSESSEE HAS ALSO SUBMITTED THAT THE ASSESSEE CAPITAL AS WELL AS INTEREST FREE LOAN WITH T HE ASSESSEE SHOULD BE CONSIDERED IN VIEW OF THE ITAT JODHPUR BENCH, JODHPUR DECISION IN THE CASE OF SMT. RENU GUPTA RAISINGH NAGAR VS. A.O., SURATGARH (2009) 42 T.W. 259. THE TOTAL CAPITAL AND INTEREST FREE LOAN WAS RS. 15,82,6 07/- AND LOAN GIVEN TO M/S M.P. FOOD PRODUCT LTD. AT RS. 21,41,040/-. THUS, THE REMAINING INTEREST FREE AMOUNT WAS AT RS. 5,58,433/-, ON WHICH THE HONBLE IT AT CAN DISALLOW THE INTEREST. 4. THE LEARNED D.R. VEHEMENTLY OPPOSED THE M.A. AND ARGUED THAT THIS IS REVISION OF OWN CASE, WHICH IS NOT PERMITTED UNDER TH E LAW. 5. WE HAVE HEARD THE RIVAL CONTENTIONS OF BOTH THE PARTIES AND PERUSED THE MATERIAL AVAILABLE ON THE RECORD. THE COORDINATE BEN CH HAS DECIDED THIS ISSUE AFTER CONSIDERING THE SAME ARGUMENT ON PAGE 4 IN PA RAGRAPH NO. 6 OF THE ORDER IN ITA NO. 158/JP/2012 AND CONFIRMED THE ORDE R OF THE LEARNED CIT(A). WE DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER OF THE COORDINATE BENCH AS WE DO NOT HAVE ANY POWER TO REVIEW OUR OWN DECISION U/S 254(2) OF THE INCOME TAX ACT, 1961. 3 6. IN THE RESULT, M.A. APPLICATION FILED BY THE ASS ESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18/07/2014. SD/- SD/- (R.P. TOLANI) (T.R. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER JAIPUR, DATED : 18 TH JULY, 2014 * RANJAN COPY FORWARDED TO :- 1. SMT. ASHARFI DEVI, ALWAR. 2. THE I.T.O., WARD 1(3), ALWAR. 3. THE CIT (A) 4. THE CIT 5. THE D/R GUARD FILE (M.A. NO. 39/JP/2012) BY ORDER, AR ITAT JAIPUR.