M/s. LEO Coats(India) (P) Ltd.., Surat V. The Addl. CIT, Range-1, Ward-3(3), Surat

MA 55/AHD/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4873 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 month(s) 12 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2008-2009
• Appeal Filed On: 09-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K MADHUSUDHAN
• Assessee Lawyers: MIHIR GANDHI
• Section: 14A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER AND SHRI RAJPAL YADAV, JUDICIAL MEMBER MA NO.55/AHD/2016 IN ITA.NOS.2248/AHD/2011 / ASSTT. YEAR: 2008-09 M/S. LEO COATS (INDIA) P.LTD. 2 ND FLOOR, SAMEER NR. GUJARAT GAS CIRCLE RANDER ROAD SURAT. PAN : AAGFG 5384 B VS ACIT, RANGE - 1 WARD-3(3) SURAT. / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI MIHIR GANDHI, AR REVENUE BY : SHRI K. MADHUSUDHAN, SR.DR / DATE OF HEARING : 21/10/2016 / DATE OF PRONOUNCEMENT: 21/10/2016 !'/ O R D E R PRESENT MISC. APPLICATION IS DIRECTED AT THE INSTAN CE OF THE ASSESSEE POINTING OUT APPARENT ERROR IN THE ORDER OF THE TRI BUNAL DATED 17.6.2015 IN ITA NO.2248/AHD/2011. 2. IT IS PLEADED IN THE APPLICATION THAT FIRST HEAR ING OF THE CASE WAS LISTED FOR 22.4.2015 WHICH WAS ATTENDED BY THE LD.COUNSEL FOR THE ASSESSEE. HEARING WAS ADJOURNED ON THE GROUND THAT THE ISSUE REGARDIN G DISALLOWANCE UNDER SECTION 14A IN THE CASE OF PORTFOLIO MANAGEMENT SCH EME WAS PENDING TO BE MA NO.55/AHD/2016 2 DECIDED BY THE ITAT, DELHI BENCH(SB). THE HEARING WAS RE-FIXED ON 17.6.2015, BUT NO NOTICE WAS ISSUED TO THE ASSESSEE . ON THE OTHER HAND, THE LD.DR CONTENDED THAT THE ASSESSEE SHOULD BE VIGILAN T IN PROSECUTING ITS APPEAL. 3. WE HAVE DULY CONSIDERED RIVAL CONTENTIONS AND GO NE THROUGH THE RECORD CAREFULLY. WE ARE SATISFIED THAT THE ASSESSEE WAS PREVENTED BY SUFFICIENT REASONS FOR NOT APPEARING BEFORE THE TRIBUNAL. THE REFORE, WE RECALL THE ORDER OF THE TRIBUNAL DATED 17.6.2015 AND RESTORE THE APP EAL TO ITS ORIGINAL NUMBER. THE REGISTRY IS DIRECTED TO LIST THE APPEAL FOR HEA RING ON 12 TH JANUARY, 2017. THIS DATE HAS DULY BEEN INFORMED TO THE REPRESENTAT IVES OF BOTH THE PARTIES, THEREFORE, NO FRESH NOTICE TO BE ISSUED TO THE PART IES. 4. IN THE RESULT, MA OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 21 ST OCTOBER, 2016 AT AHMEDABAD. SD/- SD/- (PRAMOD KUMAR) ACCOUNTANT MEMBER (RAJPAL YADAV) JUDICIAL MEMBER AHMEDABAD; DATED 21/10/2016