DCIT, Trivandrum v. Malayil Bankers, Trivandrum

ITSSA 39/COCH/2007 | misc
Pronouncement Date: 02-02-2012 | Result: Dismissed

Appeal Details

RSA Number 3921916 RSA 2007
Bench Cochin
Appeal Number ITSSA 39/COCH/2007
Duration Of Justice 4 year(s) 5 month(s) 8 day(s)
Appellant DCIT, Trivandrum
Respondent Malayil Bankers, Trivandrum
Appeal Type Income Tax (Search & Seizure) Appeal
Pronouncement Date 02-02-2012
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 02-02-2012
Date Of Final Hearing 28-11-2011
Next Hearing Date 28-11-2011
Assessment Year misc
Appeal Filed On 24-08-2007
Judgment Text
1 I.T (SS)A. NO 39/COCH/2007 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH COCHIN BEFORE SHRI N.R.S. GANESAN (JM) & SHRI SANJAY ARORA (AM) IT(SS)A NO.39/COCH/2007 (BLOCK PERIOD 01-04-1987 TO 05-09-1997) DY.CIT CIR.1(1) VS M/S MALAYIL BANKERS AGRA TRIVANDRUM KASAWARKAL ROAD NALAMCHIRA TRIVANDRUM PAN : NOT AVAILABLE (APPLICANT) (RESPONDENT) C.O. NO.70/COCH/2007 (ARISING OUT OF IT(SS)A NO.39/COCH/2007) (BLOCK PERIOD 01-04-1987 TO 05-09-1997) M/S MALAYIL BANKERS VS DY.CIT CIR.1(1) TRIVANDRUM TRIVANDRUM (CROSS OBJECTOR) (RESPONDENT) REVENUE BY : SHRI S.R. SENAPATI ASSESSEE BY : SHRI T.N. SREEDHARAN DATE OF HEARING : 30-12-2011 DATE OF PRONOUNCEMENT : 02-02-2012 O R D E R PER N.R.S. GANESAN (JM) THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST TH E ORDER OF COMMISSIONER OF INCOME-TAX(A)-I TRIVANDRUM DATED 1 8-04-2007 FOR THE BLOCK PERIOD 01-04-1987 TO 05-09-1997. THE ASSESSEE HAS FILED THE CROSS OBJECTION. 2 I.T (SS)A. NO 39/COCH/2007 THEREFORE WE HEARD BOTH THE APPEAL OF THE REVENUE AND THE CROSS OBJECTION OF THE ASSESSEE TOGETHER AND DISPOSE OF THE SAME BY THIS COMMON ORDER. 2. THE COMMISSIONER OF INCOME-TAX(A) DELETED THE PE NALTY IMPOSED BY THE ASSESSING OFFICER U/S 158BFA(2) ON THE GROUND T HAT THE APPEAL OF THE ASSESSEE WAS ALLOWED BY COMMISSIONER OF INCOME-TAX( A). DURING THE COURSE OF HEARING IT IS BROUGHT TO THE NOTICE OF THE TRIBU NAL THAT IN RESPECT OF THE QUANTUM ADDITION THIS TRIBUNAL HAS REMITTED BACK T HE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR RECONSIDERATION. THE COM MISSIONER OF INCOME- TAX(A) HAS CANCELLED THE PENALTY AND GIVEN THE ASSE SSING OFFICER LIBERTY TO PASS A FRESH ORDER AFTER COMPLETING THE ASSESSMENT AS PER THE DIRECTION OF THE TRIBUNAL. 3. WE HEARD SHRI T.M. SREEDHARAN THE LD.SENIOR COU NSEL FOR THE ASSESSEE AND SHRI S.R. SENAPATI THE LD.DR. IT IS NOT IN DI SPUTE THAT THIS TRIBUNAL AFTER REVERSING THE ORDER OF THE COMMISSIONER OF INCOME-T AX(A) REMITTED BACK THE QUANTUM ADDITION TO THE FILE OF THE ASSESSING OFFIC ER FOR RECONSIDERATION. THEREFORE AS ON DATE THERE IS NO ASSESSMENT ORDER IN EXISTENCE. THEREFORE NO ONE CAN SAY THAT THERE WAS ANY CONCEALMENT OF IN COME. IN VIEW OF THE ABOVE THIS TRIBUNAL IS OF THE OPINION THAT THE COM MISSIONER OF INCOME-TAX(A) HAS RIGHTLY CANCELLED THE PENALTY LEVIED BY THE ASS ESSING OFFICER. HOWEVER THE MATTER IS NOW PENDING BEFORE THE ASSESSING OFFI CER FOR RECONSIDERATION. THE COMMISSIONER OF INCOME-TAX(A) HAS GIVEN LIBERTY TO THE ASSESSING OFFICER 3 I.T (SS)A. NO 39/COCH/2007 TO PASS PENALTY ORDER AFRESH AFTER COMPLETING THE A SSESSMENT AFRESH. IN VIEW OF THIS LIBERTY WE DO NOT FIND ANY MERIT IN THE AP PEAL OF THE REVENUE. 4. THE CROSS OBJECTION IS FILED TO SUPPORT THE ORDER OF COMMISSIONER OF INCOME-TAX(A). IT IS INFRUCTUOUS. IN OTHER WORDS IN SUPPORT OF THE ORDER OF COMMISSIONER OF INCOME-TAX(A) THE CROSS OBJECTION I S NOT MAINTAINABLE. 5. IN THE RESULT BOTH THE APPEAL OF THE REVENUE AN D THE CROSS OBJECTION OF THE ASSESSEE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 02 ND DAY OF FEBRUARY 2012. SD/- SD/- (SANJAY ARORA) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN DT : 02 ND FEBRUARY 2012 PK/- COPY TO: 1. DY.CIT CIR.1(1) TRIVANDRUM 2. M/S MALAYIL BANKERS AGRA 33 KUSAWARKAL ROAD NA LANCHIRA TRIVANDURM-695 015 3. THE COMMISSIONER OF INCOME-TAX(A)-I TRIVANDRUM 4. THE COMMISSIONER OF INCOME-TAX TRIVANDRUM 5. THE DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR INCOME-TAX APPELLATE TRIBUNAL COCHIN BENCH