ITO, Jaipur V. SHRI JAI KUMAR GOLANI, Jaipur

MA 46/JPR/2015

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 5440 (ITAT-JAIPUR)
• Duration Of Justice: 10 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-09-2016
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 30-10-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: KALIKA SINGH
• Assessee Lawyers: S L PODDAR DHK

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH HKKXPUN] YS[KK LNL; ,OA JH DQY HKKJR] U;KF;D LNL; DS LE{K BEFORE: SHRI BHAGCHAND, AM AND SHRI KUL BHARAT, JM M.A. NO. 46/JP/2015 ARISING OUT IF ITA NO. 495 & 461/JP/2011 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2006-07. THE INCOME TAX OFFICER, WARD 1(3), JAIPUR. CUKE VS. SHRI JAI KUMAR GOLANI, PROP. M/S. KALA FASHIONS, 116-117, BAPU BAZAR, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. ABDPG 1352 M VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY : SHRI KALIKA SINGH (CIT) FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI S.L. PODDAR (ADVOCATE) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 02.09.2016. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 08/09/2016. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THE REVENUE HAS FILED THIS MISCELLANEOUS APPLICATI ON SEEKING RECALLING OF THE TRIBUNALS ORDER DATED 09.01.2015 PASSED IN ITA NO. 495 & 461/JP/2011. 2. THE LD. D/R SUBMITTED THAT THERE IS A MISTAKE AP PARENT ON RECORD. THE LD. D/R SUBMITTED THAT THE HONBLE TRIBUNAL WHILE DECID ING THE APPEAL OF THE ASSESSEE HAS ALLOWED DOUBLE BENEFIT TO THE ASSESSEE BY OBSER VING IN PARA 5.22 AND 5.23 AT PAGE 28 OF ITS ORDER AS UNDER :- LD. CIT (A)S OBSERVATION CLEARLY INDICATE THAT A N AMOUNT OF RS. 7,26,760/- ON ACCOUNT OF DOUBLE VALUATION WAS TO BE GIVEN, HOWEVER THE REDUCTION REMAINS TO BE GIVEN. IN OUR CONSIDERE D VIEW THIS BEING A MATHEMATICAL CALCULATION IT SHOULD BE REDUCED FROM RS. 15,80,480/-, CONSEQUENTLY THE FINAL ADDITION AMOUNT COME TO RS. 8,53,720/-. 5.23. THUS IN OUR CONSIDERED VIEW THAT AFTER THIS C ORRECTION THE AMOUNT OF ADDITION ON ACCOUNT OF STOCK IN THE CASE OF JAI KUMAR GOLANI SHOULD COME TO RS. 8,53,720/-. THUS WE HOLD ACCORDI NGLY, CONSEQUENTLY THIS GROUND OF REVENUE IS DISMISSED AND THAT OF ASS ESSEE IS PARTLY ALLOWED. 2 MA NO. 46/JP/2015 ITO VS. SHRI JAI KUMAR GOLANI THE LD. D/R SUBMITTED THAT WHILE DECIDING THE APPEA L OF THE ASSESSEE, THE LD. CIT (A) HAS ALREADY GRANTED THE RELIEF OF RS. 7,26,760/- AS OBSERVED AT PAGE 3 OF HIS ORDER AS UNDER :- THE TOTAL OF PAGE NO. 1 TO 18 COMES TO RS. 78,61,1 41/- WHEREAS AS PER THE BOOKS THE STOCK SHOULD BE RS. 55,53,900/-. THUS THE EXCESS STOCK COMES TO RS. 15,80,480/-. FURTHER DEDUCTION O F RS. 7,26,760/- IS ALLOWED FOR THE ITEMS CONSIDERED MORE THAN ONCE. TH E ADDITION OF RS. 49,97,061/- IS THEREFORE REDUCED TO RS. 15,80,480/- . THE AO IS, THEREFORE, DIRECTED TO REDUCE THE ADDITION OF RS. 4 9,97,061 TO RS. 15,80,480/-. THE APPELLANT THUS GETS PARTIAL RELIE F. THE LD. D/R HAS ALSO SUBMITTED THAT THIS FACT IS AL SO PROVED BY THE FOLLOWING WORKING :- TOTAL OF PAGE 1 TO 18 OF INVENTORY LIST RS. 78, 61,141/- LESS : STOCK AS PER BOOKS OF ACCOUNT RS. 55,53,9 00/- EXCESS STOCK FOUND RS. 23,07,241/- LESS : RELIEF OF RS. 7,26,760/- ALLOWED ON ACCOUNT OF ITEMS CONSIDERED IN THE INVENTORY LIST MORE THAN ONCE. RS. 7,26,760/- ------------------- ADDITION CONFIRMED BY THE LD. CIT (A) RS. 15,80, 760/- ------------------- THE ABOVE WORKING SHOWS THAT LD. CIT (A) CONFIRMED THE ADDITION OF RS. 15,80,480/- AFTER ALLOWING THE DEDUCTION OF RS. 7,2 6,760/- ON ACCOUNT OF ITEMS CONSIDERED IN THE INVENTORY LIST MORE THAN ONCE. NOW THE DIRECTIONS GIVEN BY THE HONBLE ITAT ON PAGE 28 OF ITS ORDER FOR FURTHER REDUCING THE ADDITION CONFIRMED BY THE LD. CIT (A) WILL TANTAMOUNT TO DOUBLE DEDUCTION FOR SAME AMOUNT. THE LD. D/R THEREFORE REQUESTED THAT ORDER OF THE T RIBUNAL MAY BE RECTIFIED ACCORDINGLY. 3 MA NO. 46/JP/2015 ITO VS. SHRI JAI KUMAR GOLANI 2.1. ON THE OTHER HAND, THE LD. COUNSEL FOR THE ASS ESSEE SUBMITTED THAT THE REVENUE IS SEEKING REVIEW OF THE ORDER WHICH IS BEY OND THE SCOPE OF SECTION 254 OF THE IT ACT. 2.2. WE HAVE HEARD RIVAL CONTENTIONS, PERUSED THE M ATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELO W. WE FIND MERIT IN THE CONTENTION OF THE REVENUE. ACCORDINGLY WE HEREBY R ECTIFY THE MISTAKE AND MODIFY THE ORDER OF THE TRIBUNAL DATED 09.01.2015 AS UNDER :- THE OBSERVATIONS OF THE TRIBUNAL IN THE ORDER IN PARA 5.22 AND 5.23 AT PAGE 28 AS REPRODUCED HEREIN ABOVE IN PARA 1 IS RE CTIFIED AND MODIFIED AND BE READ AS UNDER : THEREFORE, THE ASSESSEE IS NOT ENTITLED FOR FURTH ER DEDUCTION OF RS. 7,26,760/-. WE HOLD ACCORDINGLY. 3. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE REVENUE IS ALLOWED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 08/09/ 2016. SD/- SD/- ( HKKXPUN ( DQY HKKJR ) ( BHAGCHAND) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 08/09/2016. DAS/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE ITO WARD 1(3), JAIPUR. 2. THE RESPONDENT SHRI JAI KUMAR GOLANI, JAIPUR. 3. THE CIT(A). 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (M.A NO. 46/JP/2015) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR 4 MA NO. 46/JP/2015 ITO VS. SHRI JAI KUMAR GOLANI