9911796707
TMI Blog2014 (1) TMI 293X X X X Extracts X X X X X X X X Extracts X X X X ..... oted appeal, an adjournment application was moved by the partner associate of Chokshi & Chokshi, Chartered Accountants i.e. representatives of the assessee. Vide said application, Shri Rajnikant Chokshi, Chartered Accountant, the ld. representative of the applicant/assessee had sought adjournment on the ground that Mr. M.R. Chokshi, another parner of Chokshi & Chokshi, Chartered Accountants was not able to reach the court due to heavy rains. However, the Tribunal in the course of hearing informed Shri Rajnikant Chokshi- Chartered Accountant of the assessee company, that the issue involved in the appeal was a covered issue and therefore it could be disposed off, hence the application for adjournment was not considered. It has been pleaded th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eaded that this contention was not only raised by the assessee before the AO but also before the CIT(A), but the same was rejected by them. It has been further pleaded that an alternate contention was also raised before the ld. CIT(A) relying upon the decisions of the Hon'ble Bombay High Court in the case of CIT vs. Universal Medicare Pvt. Ltd. (2010) 324 ITR 263 and special bench decision of Mumbai Tribunal in the case of Bhaumik Colour Pvt. Ltd. 313 ITR(AT) 146 to the effect that even if it is held that advance/loan attracted the provisions of section 2(22)(e), the addition has to be made in the hands of the registered share holder i.e. Shri H.M. Singh and not the assessee company. It has been further contended that the CIT(A) accepted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he above said averments the applicant has sought the recalling of the order citing the reason of mistake apparent on the record of the order. 4. We have heard the ld. representatives of both the parties and also have gone through the records. From the averments made in the application, it is revealed that the alternate ground of the assessee had been accepted by the CIT(A) and the additions made by the AO were ordered to be deleted. The grievance of the assessee was that its contention regarding the transaction between the two companies being a business transaction was not accepted by the lower authorities. 5. It has been specifically contended by the assessee in para 7 of the application that the adjournment request made by Shri Rajnikan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l itself, it was the duty of the assessee to attach the necessary documents with the appeal file, upon which it wanted to rely upon. There is no specific provision or any rule provided either under the Income Tax Act or under Income Tax Rules or The Income Tax Appellate Tribunal Rules or any other related statute, giving any right to the appellant for seeking recalling of the order on the ground that on the date of hearing it could not produce the documents which were relied upon by it before the lower authorities. Whatever documents the appellant wanted to produce, were in the very much knowledge and possession of the appellant and that could have been attached with the grounds of appeal itself. Moreover, in the alleged application for adj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore parting with the order, we may also observe that the additions made by the AO in the case of assessee have already been deleted. It may be observed that the ld. CIT(A), while accepting the alternate argument of the assessee, had observed that the AO may consider the additions in the case of share holder namely Shri H.M. Singh. Regarding that finding, the assessee had also raised a ground of appeal before the Tribunal as ground No.1(c) which has not been reproduced by the applicant in its application while reproducing the other grounds. The said ground No.1(c) of the grounds of appeal is reproduced as under: "1(c). Without prejudice to above, the learned Commissioner of Income Tax (Appeals) has erred in stating that the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which shows that the applicant has not come to the court with clean hands while moving the present application and has concealed material facts and under such circumstances also the contention of the applicant cannot be sustained. 9. At this stage, the ld. D.R. has pointed out that the Revenue has already filed an appeal before the Hon'ble Bombay High Court against the deletion made by the CIT(A) in the case of the assessee further confirmed by the Tribunal. Since the Hon'ble Bombay High Court has already been seized off the matter and the assessee will also have opportunity to raise his grievances, if any, by way of cross appeal/cross objections before the Hon'ble High Court and under such circumstances it would otherwise be not proper f ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
