The ITO, Trichur V. Sri.V.R.Sreekumar, Trichur

MA 62/COCH/2014

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4948 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 4 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-11-2016
• Appeal Filed By: Department
• Bench Allotted: DB
• Next Hearing Date: 07-11-2016
• Assessment Year: 2002-2003
• Appeal Filed On: 07-07-2014
• Court: TRIBUNAL
• Assessee Lawyers: A DHANARAJ
• Section: 148

Judgement Text

M.P. NO.62/COCH/2014 1 , IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN . . , ., ! ! ! ! BEFORE S/SHRI B. P. JAIN, AM & GEORGE GEORGE K., JM M.P. NO. 62/COCH/2014 (ARISING OUT OF ' ' ' ' ./ I.TA NO.320/COCH/2010) ( #$ % /ASSESSMENT YEAR : 2002-03) THE INCOME TAX OFFICER, WARD-2(4), TRICHUR. VS SHRI V.R. SREEKUMAR, VARIAMPAT HOUSE, MULANKUNNATHKAVU, TRICHUR. ( &' &' &' &' /REVENUE APPELLANT) ( ( (( ( ) ) ) ) &' &'&' &' /ASSESSEE -RESPONDENT) & . . ' ./PAN NO. AJLPS 7297R &' * + /ASSESSEE BY SHRI A. DHANARAJ, SR. DR ( ) &' * + /REVENUE BY SHRI ARUN RAJ S., ADV. ,- * ./ / DATE OF HEARING 07/11/2016 0 % * ./ /DATE OF PRONOUNCEMENT 07/11/2016 1 1 1 1 /ORDER PER B.P. JAIN, AM: THIS MISCELLANEOUS PETITION AT THE INSTANCE OF THE REVENUE, ARISES OUT OF THE TRIBUNAL ORDER IN I.T.A. NO.320/COCH/2010 FOR THE A SSESSMENT YEAR 2002-03. 2. THE TRIBUNAL VIDE ORDER DATED 08/03/2013 HAD AL LOWED THE APPEAL OF THE ASSESSEE BY FOLLOWING THE JUDGMENT OF THE HONBLE J URISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. M/S. ABAD FISHERIES REPORTED IN 246 CTR 513. THE TRIBUNAL HELD M.P. NO.62/COCH/2014 2 THAT RE-ASSESSMENT PROCEEDINGS IS INVALID SINCE THE TIME LIMIT PRESCRIBED FOR ISSUANCE OF NOTICE U/S. 143(2) OF THE ACT HAD NOT E XPIRED. 3. THE REVENUE HAS NOW SUBMITTED IN THE MISCELLA NEOUS PETITION THAT IT HAD FILED A REVIEW PETITION AGAINST THE JUDGMENT OF THE HONBLE HIGH COURT OF KERALA IN THE CASE OF CIT VS. ABAD FISHERIES (SUPRA) AND T HE HONBLE COURT HAS DECIDED THE DECIDED THE ISSUE OF VALIDITY OF RE-ASSESSMENT IN FAVOUR OF THE REVENUE. IT WAS SUBMITTED THAT THE JUDGMENT OF THE HONBLE HIGH COURT OF KERALA IN THE REVIEW PETITION FILED BY THE REVENUE IS REPORTED IN (2013) 40 TAXMAN.COM 125 (KERALA). A COPY OF THE JUDGMENT IS PLACED ON RECOR D. 4. THE LD. COUNSEL FOR THE ASSESSEE PRESENT WAS D ULY HEARD. THE LD. AR SUBMITTED THAT IN THE EVENT OF THE ISSUE OF JURISDI CTION IS DECIDED IN FAVOUR OF THE REVENUE, THE MATTER MAY BE RECALLED FOR THE CONSIDE RATION OF THE ISSUE ON MERITS. 5. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. IT IS ADMITTED THAT THE TRIBUNAL IN ITS ORDER DATED 08 /03/2013 HAD DECIDED THE ISSUE OF RE-ASSESSMENT IN FAVOUR OF THE ASSESSEE BY HOLDI NG THAT SINCE THE TIME LIMIT FOR ISSUANCE OF NOTICE U/S. 143(2) OF THE ACT HAS NOT E XPIRED, THE ISSUANCE OF NOTICE U/S. 148 IS INVALID. IN TAKING THE ABOVE VIEW THE TRIBUNAL RELIED ON THE JUDGMENT OF THE HONBLE KERALA HIGH COURT IN THE CASE OF CIT VS. ABAD FISHERIES REPORTED IN M.P. NO.62/COCH/2014 3 246 CTR 513. SUBSEQUENTLY, THE JUDGMENT OF THE HON BLE KERALA HIGH COURT IN THE CASE OF M/S. ABAD FISHERIES(SUPRA) WAS REVERSED IN THE REVIEW PETITION FILED BY THE REVENUE . THE HONBLE HIGH COURT OF KERALA IN THE REVIEW PETI TION HELD THAT THE RE-ASSESSMENT WAS VALID. IN THE LIGHT OF THE JUDGMENT OF THE HONBLE HIGH COURT OF KERALA IN THE REVIEW PETITION FILED, WE ARE OF THE VIEW THAT THE ORDER OF THE TRIBUNAL IN I.T.A. NO. 320/COCH/2010 N EEDS TO BE RECALLED AND ACCORDINGLY, WE RECALL THE SAME FOR HEARING THE CAS E ON MERITS. THE REGISTRY IS DIRECTED TO FIX THE APPEAL FOR HEARING ON THE AVAIL ABLE DATE. 6. IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE REVENUE IS ALLOWED. SD/- SD/- ( . ) (GEORGE GEORGE K.) ( . . ) (B. P. JAIN) /JUDICIAL MEMBER /ACCOUNTANT MEMBER & /PLACE: /COCHIN 3 /DATED: 7 TH NOVEMBER, 2016 GJ/ 1 * (.4 54%. /COPY TO: 1. &' / THE INCOME TAX OFFICER, WARD-2(4), TRICHUR. 2. () &' /SHRI V.R. SREEKUMAR, VARIAMPAT HOUSE, MULANKUNNATH KAVU, TRICHUR . 3. ,6 . ( )/THE COMMISSIONER OF INCOME-TAX(APPEALS)-V, KOCHI. M.P. NO.62/COCH/2014 4 4. ,6 . /THE COMMISSIONER OF INCOME-TAX, TRICHUR. 5. 478 (. , /THE DR/ITAT, COCHIN BENCH. 6. 8: ;- /GUARD FILE. 1, /BY ORDER < /ASSISTANT REGISTRAR - . =/ . > . =/ ., /I.T.A.T., COCHIN