M/s. Esteem Finventures Ltd., Chandigarh v. ITO, New Delhi

ITA 1321/DEL/2010 | 2001-2002
Pronouncement Date: 19-07-2011 | Result: Allowed

Appeal Details

RSA Number 132120114 RSA 2010
Assessee PAN AAACE9112E
Bench Delhi
Appeal Number ITA 1321/DEL/2010
Duration Of Justice 1 year(s) 3 month(s) 23 day(s)
Appellant M/s. Esteem Finventures Ltd., Chandigarh
Respondent ITO, New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 19-07-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted B
Tribunal Order Date 19-07-2011
Date Of Final Hearing 19-07-2011
Next Hearing Date 19-07-2011
Assessment Year 2001-2002
Appeal Filed On 26-03-2010
Judgment Text
ITA NO. 1321/DEL/2010 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B NEW DELHI BEFORE SHRI A.D. JAIN JUDICIAL MEMBER AND SHRI SHAMIM YAHYA ACCOUNTANT MEMBER I.T.A. NO. 1321/DEL/2010 A.Y. : 2001-02 M/S ESTEEM FINVENTURES LIMITED (FORMERLY ESTEEM SECURITY AND LEASING LIMITED) SCO-18-19 1 ST FLOOR SECTOR-8C MADHYA MARG CHANDIGARH (PAN : AAACE9112E) VS. INCOME TAX OFFICER COMPANY WARD 11(2) NEW DELHI (APPELLANT ) (APPELLANT ) (APPELLANT ) (APPELLANT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) ASSEESSEE BY : SH. ATUL GANDHI CA DEPARTMENT BY : SH. ROHIT GARG SR. D.R. ORDER ORDER ORDER ORDER PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) DATED 25.1.2 010 AND PERTAINS TO ASSESSMENT YEAR 2001-02. 2. THE FIRST ISSUE RAISED IS THAT LD. COMMISSIONER OF INCOME TAX (APPEALS) HAS PASSED THE ORDER EXPARTE WITHOUT GIVI NG AN OPPORTUNITY OF BEING HEARD WHICH IS AGAINST THE PRINCIPLES OF NATURAL JUSTICE AND THE SETTLED LAW IN THIS REGARD. ITA NO. 1321/DEL/2010 2 3. IN THIS CASE THE ASSESSING OFFICER HAS DISALLOW ED SHARE APPLICATION MONEY OF ` 20 LACS AND HELD THE SAME TO BE UNDISCLOSED INCOME OF THE ASSESSEE UNDER SECTION 68 OF THE IT A CT. 4. UPON ASSESSEES APPEAL LD. COMMISSIONER OF INCOME TAX (APPEALS) NOTED THAT ASSESSEE HAS SOUGHT ADJOURNMEN T ON SEVERAL OCCASIONS AND FINALLY ON 20.1.2010 NOBODY APPEARED . LD. COMMISSIONER OF INCOME TAX (APPEALS) PROCEEDED EXPAR TE QUA THE ASSESSEE TO HOLD THAT ASSESSEE DID NOT HAVE ANYTH ING ON THE MERITS OF THE CASE. HENCE HE SUSTAINED THE ASSESSING OFF ICERS ACTION. 5. AGAINST THE ABOVE ORDER THE ASSESSEE IS IN APPE AL BEFORE US. 6. WE HAVE HEARD THE RIVAL CONTENTIONS IN LIGHT O F THE MATERIAL PRODUCED AND PRECEDENT RELIED UPON. WE NOTE THAT ASSESSEE HAS FILED AN AFFIDAVIT BEFORE US IN WHICH IT HAS BEEN STATED THAT ON 20.1.2010 BECAUSE OF FOGGY CONDITION HE WAS DELAYED ON THE C HANDIGARH-DELHI NATIONAL HIGHWAY. WE HAVE CAREFULLY PERUSED THE AFO RESAID AFFIDAVIT AND WE ARE INCLINED TO AGREE WITH THE CONTENTION OF THE ASSESSEE THAT THERE WAS REASONABLE CAUSE FOR THE ASSESSEE FOR NON -APPEARANCE BEFORE THE LD. COMMISSIONER OF INCOME TAX (APPEALS). MOREOVER WE FIND THAT LD. COMMISSIONER OF INCOME TAX (APPEALS) HA S NOT DEALT WITH THE MERITS OF THE ISSUE. IT IS A SETTLED LAW THAT E VEN AN ADMINISTRATIVE ORDER HAS TO BE CONSISTENT WITH THE RULES OF NATURA L JUSTICE. ACCORDINGLY WE SET ASIDE THE ORDER TO THE FILES OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) TO CONSIDER THE ISSUE AFRE SH. NEEDLESS TO ADD ITA NO. 1321/DEL/2010 3 THAT THE ASSESSEE SHOULD BE GIVEN ADEQUATE OPPORTUN ITY OF BEING HEARD. 7. IN THE RESULT THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 19/7/2011 UP ON CONCLUSION OF HEARING. SD/- SD/- [ [[ [A.D. JAIN A.D. JAIN A.D. JAIN A.D. JAIN] ]] ] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATE 19/7/2011 SRB COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: - -- - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR ITAT TRUE COPY BY ORDER DEPUTY REGISTRAR ITAT DELHI BENCHES