Kabra R. Fulchand HUF, v. I.T.O. Ward 1(2) Sangli,

ITA 747/PUN/2010 | 2006-2007
Pronouncement Date: 21-09-2010 | Result: Allowed

Appeal Details

RSA Number 74724514 RSA 2010
Assessee PAN AABHK0629L
Bench Pune
Appeal Number ITA 747/PUN/2010
Duration Of Justice 4 month(s) 3 day(s)
Appellant Kabra R. Fulchand HUF,
Respondent I.T.O. Ward 1(2) Sangli,
Appeal Type Income Tax Appeal
Pronouncement Date 21-09-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 21-09-2010
Assessment Year 2006-2007
Appeal Filed On 18-05-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH PUNE SINGLE MEMBER CASE BEFORE SHRI SHAILENDRA KUMAR YADAV JUDICIAL MEMBER I.T.A. NO. 747/PN/2010: A.Y. 2006-07 KABRA RAMBILAS FULCHAND HUF PROP. M/S. SHRIRAM TRADING CO. 1435 LALE PLOT MADHAVNAGAR ROAD SANGLI PAN AABHK 0629 L APPELLANT VS. I.T.O. WARD 1(2) SANGLI RESPONDENT APPELLANT BY : NONE RESPONDENT BY: SHRI ABHAY DAMLE ORDER THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT(A) KOLHAPUR DATED 25-1-2010 FOR A. Y. 2006-07 ON THE FOLLOWING GROUNDS. 1.1 THE LEARNED CIT(A) FAILED TO APPRECIATE THAT T HE ASSESSEE HAS OBTAINED DECLARATION IN FORM NO. 15G A ND SUBMITTED TO CIT KOLHAPUR ON 20-6-2005 WHICH FACT HAS BEEN CONFIRMED BY THE A.O IN HIS REMAND REPORT. 1.2 THE LEARNED CIT(A) ERRED IN CONFIRMING DISALLOW ANCE OF RS. 1 18 800/- U/S 40(A)(IA) OF THE ACT. 1.3 THE DISALLOWANCE OF RS. 1 18 000/- MAY PLEASE B E DELETED. 2. THE A.O MADE ADDITION OF RS. 1 18 000/- BY INVOK ING THE PROVISIONS OF SECTION 40(A)(IA) OF THE ACT. THE ASS ESSEE WAS ENGAGED IN THE BUSINESS OF TRADING IN FOODGRAINS AN D ITA NO. 747/PN/2010 KABRA R FULCHAND HUF A.Y. 2006-07 2 CATTLE/POULTRY FEEDS. FOR THE A.Y. 2006-07 RETURN OF INCOME WAS FILED ON 31-10-2006 DECLARING TOTAL INCOME AT R S. 2 24 890/-. THE A.O OBSERVED THAT INTEREST OF RS. 1 30 252/- WAS PAID TO MAHESH NAGARI SAHAKARI PAT SANSTHA LTD. AND NO TAX WAS DEDUCTED AT SOURCE ON THIS AMOUNT AS PER TH E PROVISIONS OF SECTION 194A OF THE ACT. THESE AMOUNT S WERE PAID TO THREE LOAN ACCOUNTS. THE STAND OF THE ASSE SSEE WAS THAT ALL THE DETAILS WERE FILED AND THE REVENUE AUT HORITIES HAVE NOT PROPERLY APPRECIATED THE SAME. THIS ISSUE NEED S FURTHER PROBE INTO THE MATTER AND TAKING INTO CONSIDERATION THE FACTS AND CIRCUMSTANCES OF THE CASE I SET ASIDE THE ORDE R OF THE CIT(A) AND RESTORE THE MATTER TO THE FILE OF THE A. O WITH A DIRECTION TO DECIDE THE SAME ON FACTS AND LAW AFTER PROVIDING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE. SINCE I AM RESTORING THE ISSUE ON THE PRELIMINARY GROUND SO I AM REFRAINED TO COMMENT ON MERITS OF THE ISSUE AT HAND . 3. IN THE RESULT THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON 21 ST SEPTEMBER 2010. SD/- (SHAILENDRAKUMAR YADAV) JUDICIAL MEMBER PUNE DATED THE 21 ST SEPTEMBER 2010 ANKAM ITA NO. 747/PN/2010 KABRA R FULCHAND HUF A.Y. 2006-07 3 COPY FORWARDED TO: (1) ASSESSEE (2) DEPARTMENT (3) CIT- IV PUNE (4) CIT(A)- III PUNE (5) THE D.R. ITAT PUNE PUNE TRUE COPY BY ORDER ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL PUNE BENCHES PUNE