T.C.Mani, Ernakulam V. DCIT, Ernakulam

MA 59/COCH/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5849 (ITAT-COCHIN)
• Duration Of Justice: 7 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-11-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 10-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A DHANARAJ
• Assessee Lawyers: BANUSEKHAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI ABRAHAM P.GEORGE, AM & SHRI GEORGE GEORGE K, JM M A NO. 5 9 / COCH /201 7 : ASST.YEAR 20 0 7 - 20 08 (ARISING OUT OF ITA NO. 457 /COCH/ 2011 ) SRI T.C.MANI THANNIKKAMATTATHIL HOUSE KOLENCHERY 682 311 PAN : ACAPM3621K . VS. THE ASST.COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE II ERNAKULAM. ( APPLICANT ) (RESPONDENT) APPLICANT BY : SRI. BANUSEKHAR RESPONDENT BY : SRI. A.DHANARAJ, SR.DR DATE OF HEARING : 20 .11 .2017 DATE OF PRONOUNCEMENT : 20 .11 .2017 O R D E R PER GEORGE GEORGE K, JM THIS MISCELLANEOUS APPLICATION U/S.254(2) OF THE INCOME - TAX ACT, 1961 HAS BEEN PREFERRED BY THE ASSESSEE PRAYING FOR THE RECTIFICATION OF THE ORDER OF THE TRIBUNAL DATED 26 TH APRIL, 2013 , PASSED IN ITA NO. 447 / COCH /20 1 3, ALONG WITH OTHER GROUP APPEALS, FOR THE ASSESSMENT YEAR 2007 - 2008 . 2. THE LEARNED COUNSEL FOR THE ASSESSEE STATED THAT GROUND NO. (X) RAISED BY THE ASSESSEE IN ITS APPEAL IN ITA NO.447/COCH/2013 FOR ASSESSMENT YEAR 2007 - 2008, REMAINED TO BE DISPOSED , WHICH READS AS FOLLOW: - (X) THE ASSESSING AUTHORITY MERELY TREATED ALL CREDITS AS NON - GENUINE IN AN ATTEMPT TO SUBSTANTIATE THE ADDITION IN RESPECT OF THE BUSINESS WHILE THE APPELLANT HAD ESTABLISHED THE GENUINENESS OF THE CREDITS. EVEN ASSUMING WITHOUT CONCEDING THAT THE CREDIT HAD PROVED AS NON - GENUINE, THE TOTAL AMOUNT OF CREDIT DO NOT SUPPORT THE ARBITRARY AND HUGE ADDITION MADE BY THE ASSESSING AUTHORITY IN M A NO. 5 9 / COCH /201 7 . SRI T.C.MANI . 2 RESPECT OF THE BUSINESS AND CONFIRMED BY THE COMMISSIONER (APPEALS). 3. AFTER HEARING BOTH THE PARTIES AND PERUSING THE RELEVANT MATERIAL ON RECORD, WE FIND THAT THE TRIBUNAL WHILE PASSING THE ORDER U/S 254(1), HAS NOT CONSIDERED THE ABOVE GROUND FOR ADJUDICATION. THEREFORE, WE RECALL THE IMPUGNED ORDER TO THAT EXTENT OF ADJUDICATING GROUND NO.(X) (SUPRA). THE REGISTRY IS D IRECTED TO FIX THE APPEAL FOR HEARING ON 19.12.2017. AN ANNOUNCEMENT TO THIS EFFECT WAS MADE ON THE CONCLUSION OF THE HEARING. THE ASSESSEE HAS WAIVED THE RIGHT TO SEPARATE NOTICE OF HEARING. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION IS ALLOWED, P RO TANTO. ORDER PRONOUNCED ON THIS 20 TH DAY OF NOVEMBER , 2017. SD/ - SD/ - (ABRAHAM P.GEORGE) (GEORGE GEORGE K.) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 20 TH NOVEMBER , 2017. DEVDAS* COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, COCHIN 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT, KOCHI. 4. THE CIT(A) , KOCHI . 5. DR, ITAT, COCHIN. 6. GUARD FILE.