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Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM
Before: SHRI V. DURGA RAO& SHRI D.S. SUNDER SINGH
Per Shri D.S.Sunder Singh, Accountant Member : This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals), Tirupati in I.T.A..No. 304/2015- 16/CIT(A)/TPT dated 27.03.2019 for the Assessment Year (A.Y.) 2002-03.
2 I.T.A. No.398/Viz/2019, A.Y.2002-03 Shri Grandhi Manoj Kumar, HUF, Eluru 2. In this case, the Assessing Officer (AO) passed the order u/s 143(3) r.w.s. 263 on 22.02.2007 on total Income of Rs.2985620/- against the original income assessed u/s 143(3) at Rs.7,49,973/-. In the original assessment the AO determined the export profit of Rs.37,22,676/- and allowed deduction u/s 80HHC to the extent of Rs.26,085,873/-.Consequent to revision u/s263, the AO revised the profit from export trade to Rs.5,28,891/- and allowed the deduction u/s 80HHC for an amount of Rs.3,70,224/- and determined the taxable income at Rs.29,85,620/-. In the reassessment made consequent to order u/s 263, the AO reduced the following items for the purpose of computing the export profits : Profit from Export Trade as per 37,22,676 order u/s 143(3) Less : 1. Rate difference of 27,97,833 jewellery 2. Interest apportioned to 2,65,343 export trade 3. Making charges apportioned 1,47,721 32,10,897 to export trade Revised profit from Export 5,28,891 Trade
Against which the assessee filed appeal before the CIT(A) and the Ld.CIT(A) disposed the appeal ex-parte, without going into merits. Against which the assessee filed appeal before this Tribunal.
3 I.T.A. No.398/Viz/2019, A.Y.2002-03 Shri Grandhi Manoj Kumar, HUF, Eluru 4. We have heard both the parties and perused the material placed on record. In the revised assessment order while giving effect to the consequential order, the AO reduced the export profit from Rs.37,22,676/- to Rs.5,28,891/- which is eligible for deduction u/s 80HHC and allowed the deduction u/s 80HHC of Rs.3,70,224/- against the original amount of Rs. from Rs.26,05,873/- thereby resulting the addition of Rs.22,35,649/-. While disposing the appeal, the Ld.CIT(A) has not passed the speaking order on merits, since the assessee did not respond to the notices. Therefore, we remit the matter back to the file of the Ld.CIT(A) to adjudicate the issue on merits.
In the result, appeal of the assessee is allowed for statistical purpose.
Order pronounced in the open court on 15th November, 2019.
Sd/- Sd/- (िी.दुगाा राि) (धड.एस. सुन्दर धसंह) (V. DURGA RAO) (D.S. SUNDER SINGH) न्याधयक सदस्य/JUDICIAL MEMBER लेखा सदस्य/ACCOUNTANT MEMBER नवशधखधपटणम /Visakhapatnam नदनधंक /Dated :15.11.2019 L.Rama, SPS
4 I.T.A. No.398/Viz/2019, A.Y.2002-03 Shri Grandhi Manoj Kumar, HUF, Eluru
आदेश की प्रतितिति अग्रेतिि/Copy of the order forwarded to:- 1. ननधधाऩरती/ The Assessee - Shri Grandhi Manoj Kumar, HUF, C/o Vaibhav Jewellers, Main Bazag, Eluru 2. रधजस्व/The Revenue - Asst.Commissioner of Income Tax, Central Circle (1) Visakhapatnam 3. प्रधान आयकर आयुक्त / The Pr.Commissioner of Income Tax, Rajahmundry 4. आयकर आयुक्त(अिीि) / The Commissioner of Income-Tax (Appeals), Tirupati 5. तिभागीय प्रतितनतध, आयकर अिीिीय अतधकरण, तिशाखािटणम/DR, ITAT, Visakhapatnam 6. गार्ड फ़ाईि / Guard file
आदेशानुसार / BY ORDER // True Copy //
Sr. Private Secretary ITAT, Visakhapatnam