ACIT, Tirunelveli V. M/s. Susee Engineering & Automobiles (P) Ltd., Tirunelveli

MA 65/CHNY/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8579 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 16 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-07-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 27-04-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Unexplained investment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER M.P. NO.65(MDS)/2012 IN ITA NO.300(MDS)/2011 ASSESSMENT YEAR: 2005-06 THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE III, MADURAI. (NOW PURSUED BY ACIT, CLE.I, TIRUNELVELI). VS. M/S.SUSEE ENGINEERING & AUTOMOBILES PVT. LTD., 184/2, TRIVANDRUM ROAD, VANNARAPETTAI, TIRUNELVELI. PAN AAHCS8802L. (PETITIONER) (RESPONDENT) PETITIONER BY : SHRI SHAJI P JA COB, IRS, CIT RESPONDENT BY: SHRI N.VIJAY KUMAR, C.A. DATE OF HEARING :13 TH JULY, 2012 DATE OF PRONOUNCEMENT : 13 TH JULY, 2012 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT: THIS MISCELLANEOUS PETITION IS FILED BY THE REVE NUE. IT RELATES TO THE ASSESSMENT YEAR 2005-06. THIS RE CTIFICATION PETITION IS FILED IN THE CONTEXT OF THE COMMON ORDE R DATED - - MP NO.65 OF 2012 2 8-8-2011PASSED BY THE TRIBUNAL IN ITA NOS.299, 300, 301 & 302(MDS)/2011. 2. IT IS THE CASE OF THE REVENUE THAT WHILE DISPOS ING OF THOSE APPEALS THROUGH THEIR COMMON ORDER, THE TRIBU NAL HAS NOT CONSIDERED THE ISSUE OF UNEXPLAINED INVESTMENT IN S HARES OF ` 54,83,332/-, RAISED FOR THE ASSESSMENT YEAR 2005-0 6 IN ITA NO.300(MDS)/2011. THE SAID ISSUE HAS NOT BEEN ADJU DICATED BY THE TRIBUNAL. 3. AFTER HEARING BOTH THE SIDES AND AFTER GOING TH ROUGH THE ORDERS, WE FIND THAT THE REVENUE IS CORRECT IN POINTING OUT THAT THE TRIBUNAL HAS NOT ADJUDICATED THE GROUNDS R AISED BY THE REVENUE IN RESPECT OF THE UNEXPLAINED INVESTMENT IN SHARES OF ` 54,83,332/-, FOR THE ASSESSMENT YEAR 2005-06. SO MUCH SO, THERE IS A MISTAKE APPARENT ON THE RECORDS AS FAR A S THE ORDER OF THE TRIBUNAL IS CONCERNED IN ITA NO.300(MDS)/2011 F OR THE ASSESSMENT YEAR 2005-06. THE SAID MISTAKE IS TO BE RECTIFIED. 4. ACCORDINGLY, THE APPEAL IN ITA NO.300(MDS)/2011 RELATING TO THE ASSESSMENT YEAR 2005-06 IS RECALLED WITHOUT DISTURBING THE COMMON ORDER IN RESPECT OF THE REMAI NING APPEALS IN ITA NOS.299, 301, AND 302(MDS)/2011. - - MP NO.65 OF 2012 3 5. THE APPEAL IN ITA NO.300(MDS)/2011 RELATING TO THE ASSESSMENT YEAR 2005-06 IS RECALLED FOR THE LIMITED PURPOSE OF ADJUDICATING THE QUESTION OF UNEXPLAINED INVESTMENT IN SHARES OF ` 54,83,332/-. 6. THE APPEAL IS RECALLED AND POSTED FOR HEARING O N 22-8-2012. 7. THE MISCELLANEOUS PETITION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON FRIDAY, THE 13 TH OF JULY, 2012 AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 13 TH JULY, 2012. V.A.P. COPY TO: (1) PETITIONE R (2) RESPONDENT (3) CIT (4) CIT(A) (5) D.R. (6) G.F.