Dy. Commissioner of Income Tax , Circle-4(1), Hyderabad V. Shyam Sunder Agarwal, Hyderabad, Hyderabad

MA 51/Hyd/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6867 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 27-07-2018
• Assessment Year: 2006-2007
• Appeal Filed On: 05-06-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: J PAVITRAM KUMAR
• Assessee Lawyers: A V RAGHURAM

Judgement Text

MA NO 51 OF 2018 SHYAM SUNDER AGARWAL HYDERABAD. PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER M.A.NO.51/HYD/2018 (ARISING OUT OF WTA NO.2/HYD/2017) (ASSESSMENT YEAR:2006-07) SHRI SH YAM SUNDER AGARWAL, HYDERABAD PAN: ACSPA8366L VS DY. COMMISSIONER OF WEALTH TAX, CIRCLE 4 (1) HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI A.V. RAGHURAM FOR REVENUE : SHRI J. PAVITRAM KUMAR, DR O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS AN APPLICATION FILED BY THE ASSESSEE SEEKIN G RECTIFICATION OF THE ALLEGED MISTAKES IN THE ORDER OF THE TRIBUNAL DATED 21.03.2018. 2. THE LEARNED COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS MADE IN THE MISCELLANEOUS APPLICATION W HICH ARE AS UNDER: MISCELLANEOUS APPLICATION FILED UNDER SECTION 254(2) OF THE INCOME TAX ACT, 1961 THE HON'BLE TRIBUNAL VIDE ITS ORDER DATED 21.03.201 8 RECEIVED BY THE APPELLANT ON 05.04.2018, WAS PLEASE D TO DISMISS THE APPEAL FILED BY THE APPELLANT. WHILE DISMISSING GROUNDS 4 & 5 (ALSO RAISED AS ADDITIONAL DATE OF HEARING: 27.07. 201 8 DATE OF PRONOUNCEMENT: 31.07.2018 MA NO 51 OF 2018 SHYAM SUNDER AGARWAL HYDERABAD. PAGE 2 OF 3 GROUNDS) WITH RESPECT TO LEVY OF INTEREST UNDER SEC TION 17A, BAND C OF THE WEALTH TAX ACT, THE HON'BLE TRIBUNAL HELD THAT THEY ARE MANDATORY. IT IS SUBMITTED THAT THE A BOVE FINDING OF THE HON'BLE TRIBUNAL IS MISTAKE APPARENT FROM RECORD AS THERE IS NO PROVISION IN THE WEALTH TAX A CT TO CHARGE INTEREST UNDER SECTION 17A AND 17C OF THE SA ID ACT. FURTHER, LEVY OF INTEREST UNDER SECTION 17B OF THE WEALTH TAX ACT IS FACTUALLY INCORRECT AS THERE IS NO DELAY IN FILING THE WEALTH TAX RETURN BY THE APPELLANT. THE HON'BLE TRIBUNAL, HOWEVER, HAS DISMISSED THE GROUND HOLDING THAT IT IS MANDATORY. IT IS SUBMITTED THAT GIVEN THE FAC TS EMERGING FROM RECORD, THERE WAS NO DELAY IN FILING THE WEALTH TAX RETURN AND THE SAME CANNOT BE SUSTAINED. IN THE AFORESAID CIRCUMSTANCES, IT IS PRAYED THAT T HE HON'BLE TRIBUNAL MAY BE PLEASED TO KINDLY RECTIFY T HE MISTAKE APPARENT AS POINTED ABOVE IN THE INTEREST O F JUSTICE. 3. THE LEARNED DR IS ALSO HEARD. 4. TAKING INTO CONSIDERATION THE LEGAL POSITION, WE FIND THAT THE ASSESSEES CONTENTION THAT THERE ARE NO PR OVISIONS OF SECTION 17A AND 17C IN THE WEALTH TAX ACT TO CHARGE INTEREST IS CORRECT. THEREFORE, THE ORDER OF THE TRIBUNAL TO S UCH AN EXTENT IS NOT CORRECT AND NEEDS RECTIFICATION. FURTHER, WE AL SO FIND THAT THE ASSESSEE HAD RAISED A GROUND ABOUT LEVY OF INTEREST U/S 17B THOUGH THE RETURN WAS FILED WITHIN TIME. WE FIND TH AT THE TRIBUNAL INADVERTENTLY HAD NOT CONSIDERED AND ADJUDICATED TH E SAID GROUND OF APPEAL. IN VIEW OF THE SAME WE DEEM IT FIT AND P ROPER TO RECALL THE ORDER OF THE TRIBUNAL ONLY FOR ADJUDICATION OF GROUNDS OF APPEAL NOS.4 & 5. THE APPEAL IS DIRECTED TO BE FIXE D FOR HEARING ON 19.12.2018. AS THE DATE OF HEARING HAS BEEN ANNOUNC ED IN THE OPEN COURT IN THE PRESENCE OF BOTH THE PARTIES, NO FRESH NOTICE IS TO BE GIVEN. MA NO 51 OF 2018 SHYAM SUNDER AGARWAL HYDERABAD. PAGE 3 OF 3 4. IN THE RESULT, MISCELLANEOUS APPLICATION FILED B Y THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST JULY, 2018. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 31 ST JULY 2018. VINODAN/SPS COPY TO: 1 SHRI SHYAM SUNDER AGARWAL, C/O. K. VASANTKUMAR, A .C. RAGHURAM, ADVOCATES, 610 BABUKHAN ESTATE, BASHEERBA GH, HYDERABAD - 1 2 DY.COMMISSIONER OF WEALTH TAX, CIRCLE 4(1) HYDERA BAD 3 CIT (A)-3 HYDERABAD 4 PR. CIT 4, HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER