Bobby Lease Finance Ltd.,, Baroda v. The Dy.CIT.,Circle-1,, Baroda

ITA 694/AHD/2011 | 1994-1995
Pronouncement Date: 25-04-2014 | Result: Allowed

Appeal Details

RSA Number 69420514 RSA 2011
Assessee PAN AABCB1442P
Bench Ahmedabad
Appeal Number ITA 694/AHD/2011
Duration Of Justice 3 year(s) 1 month(s) 23 day(s)
Appellant Bobby Lease Finance Ltd.,, Baroda
Respondent The Dy.CIT.,Circle-1,, Baroda
Appeal Type Income Tax Appeal
Pronouncement Date 25-04-2014
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 25-04-2014
Date Of Final Hearing 22-04-2014
Next Hearing Date 22-04-2014
Assessment Year 1994-1995
Appeal Filed On 04-03-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH A BENCH AHMEDABAD . .. . . .. . '# ' $ '# ' $ '# ' $ '# ' $ BEFORE SHRI KUL BHARAT JUDICIAL MEMBER AND SHRI T.R.MEENA ACCOUNTANT MEMBER APPEAL(S) BY APPELLANT VS. RESPONDENT SL. NO(S) ITA NO(S) ASSESSMENT YEAR(S) APPELLANT RESPONDENT 1. 694/AHD/2011 1994-95 BOBBY LEASE FINANCE LTD. A.C. HOUSE PRATAP ROAD NR.USHA KIRAN BUILDING RAOPURA BARODA PAN: AABCB 1442 P THE DY.CIT CIRCLE-1 BARODA 2. 695/AHD/2011 1995-96 ASSESSEE REVENUE 3. 696/AHD/2011 1996-97 ASSESSEE REVENUE ASSESSEE BY : MS.URVASHI SHODHAN A.R. REVENUE BY : SHRI RAJ MEHRA SR.D.R. %& ' # / / / / DATE OF HEARING : 22/04/2014 )*+ ' # / DATE OF PRONOUNCEMENT : 25/04/2014 ' / O R D E R PER SHRI KUL BHARAT JUDICIAL MEMBER : THESE THREE APPEALS BY THE ASSESSEE ARE DIRECTED AGAINST THE COMMON ORDER OF THE LD.COMMISSIONER OF INCOME TAX(A PPEALS)-I BARODA (CIT(A) FOR SHORT) DATED 24/01/2011 PERTAINING T O ASSESSMENT YEARS (AYS) 1994-95 1995-96 & 1996-97. SINCE CO MMON ISSUES ARE INVOLVED THESE APPEALS WERE HEARD TOGETHER AND ARE BEING DISPOSED OF BY WAY OF THIS CONSOLIDATED ORDER FOR THE SAKE OF CONV ENIENCE. THE ASSESSEE HAS RAISED THE FOLLOWING COMMON GROUNDS OF APPEAL(S):- ITA NOS.694 695 & 696/AHD/2 011 BOBBY LEASE FINANCE LTD. VS. DY.CIT ASST.YEARS 1994-95 1995-96 & 1996-97 - 2 - 1) THE LEARNED CIT(A) HAS GROSSLY AND GRIEVOUSLY E RRED IN LAW AND ON FACTS BY CONFIRMING THE REOPENING THE PROCEEDING S U/S.148 R.W.S. OF THE I.T.ACT AND THE SAME BEING TECHNICALL Y AB-INITIO-VOID AND BAD IN LAW IT IS PRAYED THAT THE SAME BE QUASH ED AND CANCELLED IN TOTO. 2) THE LEARNED CIT(A) HAS GROSSLY AND GRIEVOUSLY ERRED IN LAW AND ON FACTS BY BLINDLY CONFIRMING THE REMARKS PASSED I N THE REASSESSMENT ORDER BY THE ASSESSING OFFICER THAT F OR THE DETAILED REASONS MENTIONED IN THE BLOCK ASSESSMENT THIS REPRESENTS CONCEALED INCOME OF THE ASSESSEE WHICH I S TAXED ON CONSEQUENTIAL BASIS IN THE BLOCK ASSESSMENT AND THE SAME IS TAXED HERE ON PROTECTIVE BASIS ALSO. IT IS PRAYED THAT SINCE EACH AND EVERY ENTRY IN T HE BANK ACCOUNT STANDS DULY AND FULLY EXPLAINED THE ADDITION OF RS .11 10 095/- MADE BY THE LEARNED ASSESSING OFFICER BE KNOCKED OF F IN TOTO. IT MAY FURTHER BE NOTED THAT NEITHER THE HON.CIT(A) NO R THE LEARNED ASSESSING OFFICER HAS RAISED ANY FURTHER QUERY IN R ESPONSE TO OUR DETAILED SUBMISSIONS FOR EACH AND EVERY BANK TRANSA CTIONS. YOUR APPELLANT COMPANY CRAVES A LEAVE TO ADD ALTER AMEND AND/OR MODIFY ANY OF THE GROUNDS OF APPEAL ON OR BE FORE THE DATE OF HEARING OF THE APPEAL. 2. WE TAKE UP THE ASSESSEES APPEAL FOR ASST.YEAR 1 994-95 AS A LEAD CASE. 2.1. BRIEFLY STATED FACTS OF THE CASE ARE THAT A SEARCH U/S.132 OF THE INCOME TAX ACT 1961 WAS CARRIED OUT ON 15/12/1995 AND CERTAIN BOOKS OF ACCOUNTS AND DOCUMENTS WERE SEIZED. BASED ON T HESE DOCUMENTS ORDER U/S.158BC OF THE ACT WAS PASSED FOR THE PERIO D 86-97 TO 15.12.95 DETERMINING THE CONCEALED INCOME AT RS.6845405/- ON 31.12.96. HOWEVER THIS ORDER WAS SET ASIDE BY THE HONBLE IT AT AND FRESH ASSESSMENT U/S.158BC OF THE ACT DATED 26/03/2001 WA S PASSED BY THE ASSESSING OFFICER. SUBSEQUENTLY THE CASE OF THE A SSESSEE WAS REOPENED ITA NOS.694 695 & 696/AHD/2 011 BOBBY LEASE FINANCE LTD. VS. DY.CIT ASST.YEARS 1994-95 1995-96 & 1996-97 - 3 - U/S.147 OF THE ACT AND THE ASSESSMENT U/S.143(3) R. W.S. 147 OF THE ACT WAS FRAMED THEREBY THE AO MADE ADDITION OF RS.11 1 0 095/- AND THIS ADDITION WAS MADE ON PROTECTIVE BASIS. AGAINST THI S ORDER THE ASSESSEE FILED AN APPEAL BEFORE THE LD.CIT(A) WHO AFTER CON SIDERING THE SUBMISSIONS DISMISSED THE APPEALS PERTAINING TO AY S 1994-95 1995-96 AND 1996-97. NOW THE ASSESSEE IS IN FURTHER APPEA L BEFORE US. 3. THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT T HE SAME ADDITIONS WERE MADE U/S.158BC OF THE ACT IN BLOCK ASSESSMENT PROCEEDINGS WHICH TRAVELED UPTO THE HONBLE ITAT AND NO FURTHER APPEA L AGAINST THE ORDER OF THE ITAT HAS BEEN FILED BY THE ASSESSEE. SHE SU BMITTED THAT THE ORDER PASSED IN BLOCK ASSESSMENT PROCEEDINGS HAS BECOME F INAL. THEREFORE THE ADDITIONS MADE ON PROTECTIVE BASIS SHOULD BE DELETE D. 4. ON THE CONTRARY LD.SR.DR SUBMITTED THAT HE SHAL L VERIFY WHETHER ANY APPEAL HAS BEEN FILED BY THE ASSESSEE BEFORE TH E HONBLE HIGH COURT AGAINST THE ORDER OF THE HONBLE ITAT DATED 06/07/2 012. 5. WE HAVE HEARD THE RIVAL SUBMISSIONS PERUSED THE MATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. THE UNDISPUTED FACT REMAINS THAT IN THE BLOCK ASSES SMENT PROCEEDINGS AS WELL AS IN RE-OPENING ASSESSMENT PROCEEDINGS U/S.14 7 OF THE ACT THE ADDITIONS HAVE BEEN MADE IN RESPECT OF THE SAME BA NK ACCOUNT AND THE SAME AMOUNT WHICH HAS BEEN ADDED IN THE BLOCK ASSES SMENT ON SUBSTANTIVE BASIS. HOWEVER ADDITIONS MADE IN THE REOPENING ASSESSMENT PROCEEDINGS ARE ON THE PROTECTIVE BASIS. ITA NOS.694 695 & 696/AHD/2 011 BOBBY LEASE FINANCE LTD. VS. DY.CIT ASST.YEARS 1994-95 1995-96 & 1996-97 - 4 - 5.1. THE REVENUE HAS NOT CONTROVERTED THE CONTENTIO N OF LD.COUNSEL FOR THE ASSESSEE THAT THE SAME ADDITION HAS BEEN AFFIRM ED UPTO THE STAGE OF HONBLE ITAT IN BLOCK ASSESSMENT PROCEEDINGS AND T HEREFORE THE ADDITIONS MADE U/S.158BC OF THE ACT HAVE BECOME FIN AL. HENCE WE HEREBY DIRECT THE AO TO DELETE THE ADDITION MADE ON PROTECTIVE BASIS IN ALL THE THREE ASSESSMENT YEARS; I.E. AYS 1994-95 1995- 96 & 1996-97. THUS GROUNDS OF ASSESSEES APPEALS ARE ALLOWED. 6. IN THE RESULT ALL THE THREE APPEALS OF THE ASSE SSEE ARE ALLOWED. ORDER PRONOUNCED IN COURT ON THE DATE MENTIONED HER EINABOVE AT CAPTION PAGE SD/- SD/- ( .. ) ( ) '# ( T.R. MEENA ) ( KUL BHARAT ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 25/04/2014 ..% .%../ T.C. NAIR SR. PS ' ' /0 1'0+ ' ' /0 1'0+ ' ' /0 1'0+ ' ' /0 1'0+/ COPY OF THE ORDER FORWARDED TO : 1. 23 / THE APPELLANT 2. /423 / THE RESPONDENT. 3. 5 / CONCERNED CIT 4. 5() / THE CIT(A)-I BARODA 5. 06 /% / DR ITAT AHMEDABAD 6. 678 9& / GUARD FILE. ' % ' % ' % ' % / BY ORDER 40 / //TRUE COPY // : :: :/ // / ; ; ; ; ( DY./ASSTT.REGISTRAR) / ITAT AHMEDABAD