BSI SECURITIES INTERNATIONAL LTD, V. ASST CIT 4(1)(1),

MA 9/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4326 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-04-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2003-2004
• Appeal Filed On: 12-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Reasonable cause; Bad and doubtful debts

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL F BE NCH, MUMBAI BEFORE SHRI SANJAY ARORA, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER M.A. NO. 09 & 10/MUM/2015 (ARISING OUT OF I .TA NO. 6991 & 6992/MUM/2008 ( / ASSESSMENT YEAR: 2003-04 BSI SECURITIES INTERNATIONAL LTD., 34A, NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI-40 021 / VS. THE ACIT, RANGE 4(1)(1), AAYAKAR BHAVAN, MUMBAI 400 020 ./ ./ PAN/GIR NO.AAACB 1930D ( / APPELLANT ) .. ( / RESPONDENT ) / APPLICANT BY: SHRI PARESH SHAPARIA / REVENUE BY: SHRI ANIL KUMAR DAS / DATE OF HEARING :22.04.2016 ! / DATE OF PRONOUNCEMENT :22.04.2016 / O R D E R PER C.N. PRASAD, JM: THE ASSESSEE HAS FILED THIS MISCELLANEOUS APPLICATI ON FOR RESTORING THE APPEALS DISMISSED BY THE TRIBUNAL VID E ITS ORDER DATED 28.01.2011 FOR NON-APPEARANCE BY THE ASSESSEE. 2. IN THE MISCELLANEOUS APPLICATION FILED, THE ASSE SSEE SUBMITTED AS FOLLOWS AND REQUESTED FOR RECALLING THE EX-PARTE ORDER BY THIS TRIBUNAL AND PROVE ONE MORE OPPORTUNITY OF HEARING. THE APPELLANT FILED AN APPEAL BEFORE THE HON'BLE ITAT ON 10.12.2008 AGAINST CIT(A)'S ORDER IN RELATION TO OR DER U/S 154. M.A. NO. 09/M/2015 2 ON 17.02.2011, THE APPELLANT RECEIVED THE EX PARTE ORDER DATED 28.01.2011. THE REASON FOR EX-PARTE ORDER WAS NON ATTENDANCE ON THE DATE OF HEARING FIXED ON 17.01.20 11. THE FIRST HEARING FOR THE APPEAL WAS FIXED ON 13.10 .2009. THE APPELLANT FILED FACTUAL PAPER BOOK ON 10.10.200 9 IN RELATION TO THE SAID HEARING. HOWEVER. ON 13.10.2009 IT WAS DECLARED AS A HOLIDAY ON ACCOUNT OF ELECTIONS AND THE NEXT DATE OF HEARING W AS FIXED FOR 25.11.2009. ON 25.11.2009, THE APPEAL WAS PARTLY HEARD AND FURT HER HEARING WAS FIXED FOR 13.01.2010. ON 13.1.2010 THE BENCH WAS CANCELLED AND THE SUBSE QUENT DATE OF HEARING WAS FIXED ON 11.3.2010. ON 11.3.2010, THE APPEAL WAS BLOCKED FOR BAD DEBTS ISSUE PENDING BEFORE THE SPECIAL BENCH IN THE CASE OF SHR EYAS MORAKHIA. THE NEXT HEARING WAS FIXED ON 14.07.2010. ON 14.7.2010, CA PARESH SHAPARIA, THE AUTHORIZED REPRESENTATIVE ATTENDED THE APPEAL AND AS REQUESTED BY THE HON. MEMBERS, WROTE A LETTER DATED 14.07.2010 FOR BLOCKI NG OF APPEAL. THE APPELLANT HAD NOT RECEIVED ANY SUBSEQUENT NOTIC E FOR HEARING OF THE APPEAL FIXED FOR 17.1.2011 AND HENCE NO ONE ATTENDED ON THE SAID DATE. THE APPELLANT VIDE LETTER DATED 21.02.2011 REQUESTE D FOR COPY OF NOTICE FIXING BEARING ON 17.01.2011 ALONG W ITH PROOF OF SERVING. FURTHER ON 13.11.2014, THE APPELLANT AGAIN REQUESTE D FOR INSPECTION OF FILES IN ORDER TO OBTAIN A COPY OF TH E NOTICE ALONG WITH PROOF OF SERVING. THE APPELLANT HAS HOWEVER NOT RECEIVED THE NOTICE A LONG WITH PROOF OF SERVING TILL DATE. M.A. NO. 09/M/2015 3 THE APPLICANT SUBMITS THAT THE HON'BLE TRIBUNAL BE PLEASED TO GIVE A FINAL OPPORTUNITY OF HEARING CONS IDERING THE ABOVE FACTS AND CIRCUMSTANCES. 3. ON A PERUSAL OF THE SEQUENCE OF EVENTS, WE FIND THAT THE REASONS GIVEN BY THE ASSESSEE ARE SATISFACTORY AND THE NON- APPEARANCE WAS UNINTENTIONAL AND HAS REASONABLE CAUSE. 4. THE LD. DEPARTMENTAL REPRESENTATIVE HAS NO SERI OUS OBJECTION IN RECALLING THE EX-PARTE ORDER OF THE TRIBUNAL. 5. WE HAVE CAREFULLY CONSIDERED THE SUBMISSIONS OF THE RIVAL PARTIES AND PERUSED THE MATERIAL AVAILABLE ON RECOR D. IN THIS VIEW OF THE SITUATION, AFTER HEARING BOTH THE PARTIES, WE A RE SATISFIED WITH THE REASONS GIVEN THEREIN FOR NON-APPEARANCE OF THE ASS ESSEE ON THE DATE OF HEARING. THEREFORE, AS PER RULE-24 OF APPELLATE TRIBUNAL RULES, 1963, WE SET ASIDE THE AFOREMENTIONED EX-PARTE ORDE R DATED 28.1.2011 AND RESTORE THE APPEAL FILED BY THE ASSES SEE, WHICH WILL NOW BE FIXED FOR HEARING ON 18.5.2016. SINCE THE D ATE OF HEARING IS PRONOUNCED IN THE COURT, NOTICE OF HEARING IS WAIVE D. 3. IN THE RESULT, MISCELLANEOUS APPLICATIONS FILE D BY THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND APRIL, 2016. SD/- SD/- (SANJAY ARORA) (C.N. PRASAD ) ' / ACCOUNTANT MEMBER $%' /JUDICIAL MEMBER MUMBAI; (' DATED : 22 ND APRIL, 2016 . % . ./ RJ , SR. PS M.A. NO. 09/M/2015 4 !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ) ( ) / THE CIT(A)- 4. ) / CIT 5. *+,%%-. , -.! , / DR, ITAT, MUMBAI 6. ,/01 / GUARD FILE. / BY ORDER, *% //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI