DCIT, Kakinada v. M/s International Shippers & Traders Pvt Ltd, Kakinada

MA 5/VIZ/2010 | 2001-2002
Pronouncement Date: 05-03-2010 | Result: Dismissed

Appeal Details

RSA Number 525324 RSA 2010
Bench Visakhapatnam
Appeal Number MA 5/VIZ/2010
Duration Of Justice 1 month(s) 23 day(s)
Appellant DCIT, Kakinada
Respondent M/s International Shippers & Traders Pvt Ltd, Kakinada
Appeal Type Miscellaneous Application
Pronouncement Date 05-03-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 05-03-2010
Date Of Final Hearing 26-02-2010
Next Hearing Date 26-02-2010
Assessment Year 2001-2002
Appeal Filed On 13-01-2010
Judgment Text
PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV JUDICIAL MEMBER AND SHRI BR BASKARAN ACCOUNTANT MEMBER MA NO.5/VIZAG/2010 (ARISING OUT OF ITA 83/VIZAG/2005 & CO NO. 29/VIZ/2 005) ASSESSMENT YEAR: 2001-02 DCIT CIRCLE-1 KAKINADA VS. INTERNATIONAL SHIPPERS & TRADERS PVT. LTD. KAKINADA (APPELLANT) (RESPONDENT) GIR NO. 1-01/2001-02 APPELLANT BY: SHRI C.SUBRAHMANYAM CA RESPONDENT BY: SHRI B. SASMAL DR ORDER PER SHRI B R BASKARAN ACCOUNTANT MEMBER : BY THIS APPLICATION THE REVENUE SEEKS RECALL OF OR DER DATED 18-8-2009 PASSED BY THIS BENCH ON THE GROUND THAT THERE IS A MISTAKE APPARENT FROM THE RECORD. 2. THE REVENUE HAS POINTED OUT THAT THE TRIBUNAL HA S NOT CORRECTLY APPRECIATED THE FACTS OF THE CASE IN AS MUCH AS THE ASSESSING OFFICER NEVER STATED TO HAVE REJECTED THE BOOKS OF ACCOUNTS AND O NLY THE LD CIT (A) HAS WRONGLY CONCLUDED THAT THE AO HAS REJECTED THE BOOK S. THE REVENUE HAS ALSO POINTED OUT THAT THE TRIBUNAL SHOULD NOT HAVE IGNOR ED THE DISALLOWANCE MADE U/S 40A(3) SINCE THE DISALLOWANCE UNDER THE SECTION IS INDEPENDENT OF THE DETERMINATION OF THE INCOME OF THE ASSESSEE. 3. WE HAVE HEARD THE RIVAL CONTENTIONS AND CAREFULL Y PERUSED THE RECORD. WE NOTICE THAT THE LD CIT (A) HAS CONSIDERED THE WHOLE ISSUE AND ARRIVED AT THE CONCLUSION THAT THE AO WAS NOT CORRECT IN ESTIMATIN G THE INCOME OF THE ASSESSEE EACH ACTIVITY-WISE BY REJECTING THE BOOKS. AFTER H EARING THE RIVAL SUBMISSIONS AND ON PERUSAL OF THE RECORD THE TRIBUNAL HAS UPHE LD THE ORDER OF THE LD CIT(A). PAGE 2 OF 2 SINCE THE TRIBUNAL HAS TAKEN A PARTICULAR VIEW ON T HE BASIS OF THE FACTS AND CIRCUMSTANCES OF THE CASE SUCH A VIEW WOULD NOT GI VE RISE TO ANY MISTAKE APPARENT FROM THE RECORD WHICH IS RECTIFIABLE U/S 2 54 (2) OF THE ACT. IN VIEW OF THE ABOVE WE DO NOT FIND ANY MERIT IN THE APPLICAT ION FILED BY THE REVENUE. 4. IN THE RESULT THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 05-03-2010 SD/- SD/- (SUNIL KUMAR YADAV) (B R BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER PVV/SPS VISAKHAPATNAM DATE: 5 TH MARCH 2010. COPY TO 1 THE ACIT CIRCLE-1 KAKINADA 2 M/S INTERNATIONAL SHIPPERS & TRADERS PVT. LTD. CO CONADA CHAMBER OF COMMERCE BUILDING WARF ROAD KAKINADA 3 THE CIT(A) RAJAHMUNDRY 4 THE CIT RAJAHMUNDRY 5 THE DR ITAT VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM