The Agriculture Product Market Committee, Anand v. The ACIT.,Circle-3,, Baroda

ITA 2304/AHD/2010 | 2003-2004
Pronouncement Date: 10-03-2011 | Result: Allowed

Appeal Details

RSA Number 230420514 RSA 2010
Assessee PAN AAAAT5775C
Bench Ahmedabad
Appeal Number ITA 2304/AHD/2010
Duration Of Justice 8 month(s) 1 day(s)
Appellant The Agriculture Product Market Committee, Anand
Respondent The ACIT.,Circle-3,, Baroda
Appeal Type Income Tax Appeal
Pronouncement Date 10-03-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 10-03-2011
Date Of Final Hearing 04-03-2011
Next Hearing Date 04-03-2011
Assessment Year 2003-2004
Appeal Filed On 09-07-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD A BENCH (BEFORE S/SHRI G.D. AGARWAL VICE-PRESIDENT AND BHAVNESH SAINI JUDICIAL MEMBER) ITA NO.2304/AHD/2010 [ASSTT. YEAR : 2003-2004] THE AGRICULTURE PRODUCT MARKET COMMITTEE BORSAD VASAD CHOWKDI BORSAD DIST : ANAND (GUJARAT) PAN : AAAAT 5775 C VS. ACIT CIR.3 BARODA. (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SHRI R.K. DHANESTA O R D E R PER G.D. AGARWAL VICE-PRESIDENT : THIS IS ASSESSEES APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-IV BARODA DATED 15.04.2010 ARISING OUT OF THE ORDER OF THE ASSESSING OFFICER PASSED UNDER SECTION 143(3) OF THE INCOME TAX ACT 1961. 2. AT THE TIME OF HEARING BEFORE US NONE APPEARED ON BEHALF OF THE ASSESSEE BUT WRITTEN SUBMISSIONS HAVE BEEN FILED A ND IT WAS REQUESTED THAT THE APPEAL MAY BE DECIDED ON THE BASIS OF WRIT TEN SUBMISSIONS. 3. WE HAVE CONSIDERED WRITTEN SUBMISSIONS AND ALSO HEARD THE LEARNED DR. THE MAIN GROUND IN THE ASSESSEES APPEAL IS WI TH REGARD TO THE DISALLOWANCE OF THE ASSESSEES CLAIM FOR DEPRECIATI ON. IN THE WRITTEN SUBMISSIONS IT IS MENTIONED THAT THE ASSESSEE IS A LOCAL AUTHORITY THEREFORE THE INCOME WAS EXEMPT UNDER SECTION 10(20) OF THE I NCOME TAX ACT UPTO THE ASSESSMENT YEAR 2002-2003. THE INCOME OF THE A SSESSEE BECAME ITA NO.2304/AHD/2010 -2- TAXABLE FOR THE FIRST YEAR FROM A.Y.2002-04 I.E. TH E YEAR UNDER APPEAL; THAT THE ASSESSEE CLAIMED THE DEPRECIATION ON THE ASSETS AS PER THE BOOK VALUE. THE AO DISALLOWED THE ASSESSEES CLAIM OF DEPRECIAT ION ON THE GROUND THAT THE ASSESSEE COULD NOT PRODUCE THE EVIDENCE OF EITHER THE PURCHASE OF THE ASSETS OR THE CONSTRUCTION OF THE ASSETS; THAT THE ASSETS WERE NOT ACQUIRED DURING THE ACCOUNTING YEAR RELEVANT TO THE ASSESSMENT YEAR UNDER CONSIDERATION BUT WERE ACQUIRED SEVERAL YEARS BACK ; THAT THE ASSESSEE WAS UNABLE TO TRACE OUT THE BILLS/EVIDENCES OF THE ACQU ISITION OF THE ASSETS DURING THE ASSESSMENT PROCEEDINGS HOWEVER SOME OF THE BILLS/VOUCHERS FOR CONSTRUCTION OF THE ASSETS WERE FOUND AND SUBMI TTED BEFORE THE TRIBUNAL AS FRESH EVIDENCE. IT IS ALSO STATED THAT THE ASSESSEE HAS NO OBJECTION IF THE MATTER IS SET ASIDE TO THE FILE OF THE AO AND THE ASSESSEE IS GIVEN AN OPPORTUNITY TO PRODUCE THIS EVIDENCE BEFOR E THE AO. THE ASSESSEE HAS ALSO RELIED UPON THE DECISION OF THE I TAT IN THE CASE OF NATIONAL DAIRY DEVELOPMENT BOARD VS. ACIT 114 TTJ 0145 (AHD) FOR ITS CLAIM OF ALLOWABILITY OF DEPRECIATION ON THE CO ST OF THE OLD ASSETS. THE LEARNED DR ON THE OTHER HAND RELIED UPON THE ORDE R OF THE AUTHORITIES BELOW. 4. WE HAVE CAREFULLY CONSIDERED WRITTEN SUBMISSIONS OF THE ASSESSEE AS WELL AS THE ARGUMENTS OF THE LEARNED DR. CONSID ERING THE FACTS OF THE CASE IN OUR OPINION IT WOULD MEET ENDS OF JUSTICE IF THE MATTER IS SET ASIDE TO THE FILE OF THE AO. WE THEREFORE SET ASID E THE ORDER OF THE AUTHORITIES BELOW AND RESTORE THE MATTER BACK TO TH E FILE OF THE AO. WE DIRECT HIM TO ALLOW ADEQUATE OPPORTUNITY TO THE ASS ESSEE TO PRODUCE THE EVIDENCE WITH REGARD TO THE ACQUISITION OF ASSETS THEREAFTER THE AO WILL RE-ADJUDICATE THE ISSUE IN ACCORDANCE WITH LAW. WH ILE RE-ADJUDICATING THE ISSUE THE AO WILL ALSO KEEP IN MIND THE DECISION OF THE ITAT ITA NO.2304/AHD/2010 -3- AHMEDABAD BENCHES IN THE CASE OF NATIONAL DAIRY DEV ELOPMENT BOARD (SUPRA). 5. IN RESULT THE APPEAL OF THE ASSESSEE IS DEEMED TO BE ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON 10 TH MARCH 2011 SD/- SD/- (BHAVNESH SAINI) JUDICIAL MEMBER (G.D. AGARWAL) VICE-PRESIDENT PLACE : AHMEDABAD DATE : 10-03-2011 C OPY OF THE ORDER FORWARDED TO: 1) : APPELLANT 2) : RESPONDENT 3) : CIT(A) 4) : CIT CONCERNED 5) : DR ITAT. BY ORDER DR/AR ITAT AHMEDABAD