PANATONE FINVEST LTD, V. DCIT CIR 2(2),

MA 614/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0339 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-04-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: K
• Assessment Year: 2004-2005
• Appeal Filed On: 28-09-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: BURZIS TARAPOREVALA
• Keywords: Reasonable cause

Judgement Text

, , , , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES K, MUMBAI .. , !', # # # # .#. ' , $ !', % BEFORE SHRI R.K.GUPTA, JM AND SHRI R.S.SYAL, AM && !' ./ MA NOS.614 & 615/MUM/2012 ( )*+ , / ARISING OUT OF ITA NOS.7446 & 7447/MUM/2007) ( ' - ' - ' - ' - / / / / ASSESSMENT YEARS : 2004-2005 & 2005-2006) M/S.PANATONE FINVEST LIMITED BOMBAY HOUSE 24 HOMI MODY STREET MUMBAI 400 001. PAN :AAACP9523G. THE DY.COMMISSIONER OF INCOME-TAX CIRCLE 2(2) MUMBAI. ( ! / // / APPLICANT) ' ' ' ' / VS. ( ./01/ RESPONDENT) ! 2 22 2 3 3 3 3 / APPLICANT BY : SHRI BURZIS TARAPOREVALA ./01 2 3 2 3 2 3 2 3 / RESPONDENT BY : SHRI RAJARSHI DWIVEDY ' 2 +$ / / / / DATE OF HEARING : 19.04.2013. 45- 2 +$ / DATE OF PRONOUNCEMENT : 19.04.2013. !6 !6 !6 !6 / / / / O R D E R PER R.S.SYAL, AM : THESE TWO MISCELLANEOUS APPLICATIONS U/S.254(2) OF THE INCOME-TAX ACT, 1961 HAVE BEEN MOVED BY THE ASSESSE E PRAYING FOR THE RECALLING OF THE COMMON EX PARTE ORDER OF THE TRIBUNAL DATED 8 TH OCTOBER, 2009 IN ITA NOS.7446 & 7447/MUM/2007 FOR THE CAPTIONED ASSESSMENT YEARS. 2. THE ASSESSEE VIDE THE PRESENT MISCELLANEOUS APPL ICATION SUBMITTED THAT THE TRIBUNAL HAS DISMISSED THE APPEA LS OF THE ASSESSEE IN LIMINE FOR WANT OF PROSECUTION. THE LEARNED COUNSEL FOR T HE MA NOS.614 & 615/MUM/2012 M/S.PANATONE FINVEST LIMITED. 2 ASSESSEE STATED THAT THE NOTICE OF HEARING WAS NOT RECEIVED BY THE ASSESSEE. IT WAS, THEREFORE, SUBMITTED THAT THE ASS ESSEE WAS PREVENTED BY REASONABLE CAUSE FOR APPEARANCE ON THE DATE OF H EARING. AN AFFIDAVIT OF SHRI KERSI R. BHAGAT, DIRECTOR OF THE ASSESSEE-COMPANY HAS BEEN FILED IN SUPPORT OF THIS CONTENTION. THE LEARNED D.R. DID NOT RAISE ANY SERIOUS OBJECTION TO IT. 3. WE HAVE HEARD THE RIVAL PARTIES AND PERUSED THE R ELEVANT MATERIAL ON RECORD. WE ARE SATISFIED WITH THE REASON S FOR THE ABSENCE OF THE ASSESSEE AT THE TIME WHEN THE APPEALS WERE T AKEN UP FOR HEARING BY THE TRIBUNAL. WE, THEREFORE, RECALL THE IMPUGNED ORDER AND DIRECT THE REGISTRY TO FIX THE APPEALS FOR HEARING ON 19 TH JUNE, 2013. NO SEPARATE NOTICE NEED BE SENT TO THE ASSESSEE AS THE ANNOUNCEMENT TO THIS EFFECT WAS MADE IN THE OPEN COURT AND THE LEAR NED A.R. HAS WAIVED HIS RIGHT TO SEPARATE NOTICE. 4. 7 +8 ! 2 && !' '+ 2 9+ :; < IN THE RESULT, THE MISCELLANEOUS APPLICATIONS ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 19 TH APRIL, 2013. !6 2 45- =!'8 5 2 SD/- SD/- (R.K.GUPTA) (R.S.SYAL) !' !' !' !' / JUDICIAL MEMBER $ !' $ !' $ !' $ !' / ACCOUNTANT MEMBER MUMBAI ; =!' DATED : 19 TH APRIL, 2013. DEVDAS* MA NOS.614 & 615/MUM/2012 M/S.PANATONE FINVEST LIMITED. 3 !6 2 . +>& ?&-+ !6 2 . +>& ?&-+ !6 2 . +>& ?&-+ !6 2 . +>& ?&-+/ COPY OF THE ORDER FORWARDED TO : 1. ! / THE APPLICANT. 2. ./01 / THE RESPONDENT. 3. @ () / THE CIT(A) - II, MUMBAI. 4. @ / CIT 5. &C . + ' , , / DR, ITAT, MUMBAI 6. D E / GUARD FILE. !6' !6' !6' !6' / BY ORDER, /&+ . + //TRUE COPY// ) ) ) )/ // /: 9 : 9 : 9 : 9 ( DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI