Abi Fireworks Agencies, Sivakasi v. DCIT, Madurai

ITA 2008/CHNY/2013 | 2008-2009
Pronouncement Date: 31-07-2014 | Result: Allowed

Appeal Details

RSA Number 200821714 RSA 2013
Assessee PAN AALFA6634R
Bench Chennai
Appeal Number ITA 2008/CHNY/2013
Duration Of Justice 8 month(s) 12 day(s)
Appellant Abi Fireworks Agencies, Sivakasi
Respondent DCIT, Madurai
Appeal Type Income Tax Appeal
Pronouncement Date 31-07-2014
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted B
Date Of Final Hearing 18-06-2014
Next Hearing Date 18-06-2014
Assessment Year 2008-2009
Appeal Filed On 18-11-2013
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL B B ENCH CHENNAI . ' $ % & ' BEFORE SHRI A.MOHAN ALANKAMONY ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD JUDICIAL MEMBER ./I.T.A.NO. 2008/MDS/2013 ( / ASSESSMENT YEAR: 2008-09) M/S. ABI FIREWORKS AGENCIES 74A VELAYUTHAM ROAD SIVAKASI-626 123. VS DEPUTY COMMISSIONER OF INCOME TAX COMPANY CIRCLE-III MADURAI. PAN: AALFA6634R ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. V.RAJASEKARAN C.A /RESPONDENT BY : MR. PRAMOD NANGIA CIT / DATE OF HEARING : 18 TH JUNE 2014 /DATE OF PRONOUNCEMENT : 31 ST JULY 2014 / O R D E R PER CHALLA NAGENDRA PRASAD JM: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE OR DER OF THE COMMISSIONER OF INCOME TAX (APPEALS) MADURAI DATED 07.08.2013 FOR THE ASSESSMENT YEAR 2008-09. THE ON LY ISSUE IN THE APPEAL OF THE ASSESSEE IS THAT COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN CONFIRMING THE ADDITION OF ` 5 65 845 TOWARDS SHORTFALL IN SOURCE FOR BANK CREDIT IN THE BOOKS OF THE ASSESSEE. 2 ITA NO. 2008/MDS/2013 2. COUNSEL FOR THE ASSESSEE REFERRING TO PARA 19 O F THE IMPUGNED ORDER SUBMITS THAT COMMISSIONER OF INCOM E TAX (APPEALS) COMPUTED SHORTFALL IN SOURCES FOR THE B ANK CREDIT AT ` 5 65 845/- AND THIS SHORTFALL WAS UPHELD IGNORING THE AMOUNT OF ` 7.60 LAKHS RECEIVED BY THE ASSESSEE FROM T.N. TUBE WORKS. COUNSEL SUBMITS THAT IN FACT T.N. TUBE WORKS CONFIRMED THROUGH THEIR LETTER THAT THIS AMOUNT WAS GIVEN TO THE ASSESSEE. REFERRING TO PAGE 31 OF THE PAPER BOO K COUNSEL SUBMITS THAT COMMISSIONER OF INCOME TAX (AP PEALS) OMITTED TO CONSIDER THE SAID SOURCE OF ` 7.60 LAKHS FROM T.N. TUBE WORKS IN ARRIVING AT THE SHORTFALL. 3. DEPARTMENTAL REPRESENTATIVE SUPPORTED THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) IN CONFIRM ING ADDITION OF ` 5.65 LAKHS. ON A QUERY FROM THE BENCH DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT THERE I S NO SERIOUS OBJECTION IN SENDING THE MATTER BACK TO THE COMMISSIONER FOR CONSIDERING THE SUBMISSION OF THE ASSESSEE THAT COMMISSIONER OF INCOME TAX (APPEALS) OMITTED TO CONSIDER THE SOURCE FOR ` 7.60 LAKHS IN ARRIVING AT SHORTFALL. 3 ITA NO. 2008/MDS/2013 4. HEARD BOTH SIDES. PERUSED ORDERS OF LOWER AUTHOR ITIES SUBMISSIONS OF THE ASSESSEE AND CONFIRMATION LETTER FROM T.N. TUBE WORKS PLACED AT PAGE 31 OF THE PAPER BOOK . THE COMMISSIONER OF INCOME TAX (APPEALS) AFTER CONSIDER ING THE SUBMISSIONS AND EVIDENCES ON RECORD ARRIVED AT SHOR TFALL OF ` 5 65 845/- IN SOURCE FOR THE BANK CREDIT AND THIS A MOUNT WAS SUSTAINED AS ADDITION. THE SUBMISSION OF THE ASSESS EE WAS THAT COMMISSIONER OF INCOME TAX (APPEALS) FAILED TO CONSIDER SOURCES OF ` 7.60 LAKHS GIVEN BY T.N. TUBE WORKS WHICH ALSO CONFIRMED BY LETTER THAT THEY HAVE ADVAN CED SUCH AMOUNT TO THE ASSESSEE. THEREFORE IN THE INTEREST OF JUSTICE WE REMIT THIS MATTER BACK TO THE FILE OF THE COMMIS SIONER OF INCOME TAX (APPEALS) TO EXAMINE THIS ISSUE AFRESH IN VIEW OF THE SUBMISSIONS OF THE ASSESSEE THAT THERE IS SOURC E FOR ` 7.60 LAKHS AGAINST SHORTFALL ARRIVED AT ` 5 65 845/-. THE COMMISSIONER OF INCOME TAX (APPEALS) MAY DECIDE THE ISSUE AFRESH AFTER PROVIDING ADEQUATE OPPORTUNITY TO THE ASSESSEE. 4 ITA NO. 2008/MDS/2013 5. THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATIS TICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON THURSDAY TH E 31 ST DAY OF JULY 2014 AT CHENNAI. SD/- SD/- ( A.MOHAN ALANKAMONY ) ( CHALLA NAGEND RA PRASAD ) . ( ' )* ) ACCOUNTANT MEMBER / JUDICIAL MEMBER/ ) ) /CHENNAI - /DATED 31 ST JULY 2014 SOMU /0 10 /COPY TO: 1. APPELLANT 2. /RESPONDENT 3. 2 () /CIT(A) 4. 2 /CIT 5. 0 6 /DR 6. /GF .