Income Tax Appellate Tribunal - Ahmedabad
Atmiben Alipitkumar Doshi,, ... vs The Ito, Sk Ward-4,, Himatnagar on 7 July, 2023
IN THE INCOME TAX APPELLATE TRIBUNAL
"SMC" BENCH, AHMEDABAD
BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER
M.A. No. 53/Ahd/2023
(In ITA No. 940/Ahd/2018)
(Assessment Year: 2014-15)
Atmiben Alipitkumar Doshi Vs. The Income Tax Officer,
18, Mahavirnagar Society, S. K. Ward-4, Himmatnagar,
Palace Road, Himmatnagar, Dist. Sabarkantha-383001
Sabarkantha-383001
[PAN No.AOEPD5072P]
(Appellant) .. (Respondent)
Appellant by : Shri Vipul Khandhar, A.R.
Respondent by : Shri Urjit Shah, Sr. D.R.
Date of Hearing 30.06.2023
Date of Pronouncement 07.07.2023
ORDER
This Miscellaneous Application is filed by the assessee in respect of the order dated 30.01.2023 passed by the Tribunal.
2. The Ld. A.R. submitted that the applicant has made perusal of the order passed by the Tribunal and its notices that there are certain mistakes apparent on record. The Ld. A.R. submitted that while passing the order the Tribunal has not considered the fact that the assessee has not been given opportunity of cross-examination of third party on the basis of whose statement the scrip of KAPPAC Pharma Ltd. is being considered as penny stock. The Ld. A.R. further submitted that the Assessing Officer has grossly failed to grant cross-examination of the directors and brokers whose statements are referred by the Directorate of Investigation, Kolkata which is against the principal of natural justice.
M.A No.53/Ahd/2023(in ITA No. 940/Ahd/2018) Atmiben Alipitkumar Doshi vs. ITO Asst.Year- 2014-15 -2- The said fact has already been submitted before the Tribunal vide Paper Book dated 17.03.2020 at Point No. 18 on Page No. 21. The Tribunal has not commented anything on this record. The Ld. A.R. further submitted that the Hon'ble Apex Court in case of PCIT vs. Parasben Kasturchand Kochar SLP No. 6782/2021 dated 02.08.2021 confirm the order of the Hon'bel Gujarat High Court in R/Tax Appeal No. 204 of 2020 therein it is held that capital gains - penny stock - alleged bogus transaction - denial exemption was held to be no justified. The Ld. A.R. further submitted that the assessee is without prejudice argument was not considered.
3. The Ld. D.R. submitted that the assessee is seeking review of the order dated 30.01.2023 and hence the same should not be allowed.
4. Heard both the parties and perused all the relevant material available on record. The Tribunal vide order dated 30.01.2023 in Para 7 has given a categorical findings related to Kappac Pharma Limited scrip shares and the Assessing Officer has conducted the enquiry beyond the investigation report and observed the same in the assessment order. Therefore, the argument of the assessee / Ld. A.R. that the Assessing Officer failed to give cross-examination of the directors and brokers whose statements are recorded cannot be justified. Without prejudice argument was considered duly by the Tribunal and therefore, there is no need to interfere with the findings of the Tribunal. There is no mistake apparent on record. In fact, the assessee is seeking review of the order M.A No.53/Ahd/2023 (in ITA No. 940/Ahd/2018) Atmiben Alipitkumar Doshi vs. ITO Asst.Year- 2014-15 -3- dated 30.01.2023 which is not allowable under the provisions of rectification of the orders under Section 254 of the Act.
5. In result, the Miscellaneous Application filed by the assessee is dismissed.
This Order pronounced in Open Court on 07/07/2023 Sd/-
(SUCHITRA KAMBLE)
JUDICIAL MEMBER
Ahmedabad; Dated 07/07/2023
TANMAY, Sr. PS TRUE COPY
आदे श क त ल प अ े षत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. यथ / The Respondent.
3. संबं धत आयकर आय
ु त / Concerned CIT
4. आयकर आयु त(अपील) / The CIT(A)-
5. वभागीय त न ध, आयकर अपील!य अ धकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड' फाईल / Guard file.
आदे शानुसार/ BY ORDER,
उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, अहमदाबाद / ITAT, Ahmedabad
1. Date of dictation 06.07.2023
2. Date on which the typed draft is placed before the Dictating Member 06.07.2023
3. Other Member.....................
4. Date on which the approved draft comes to the Sr.P.S./P.S .07.2023
5. Date on which the fair order is placed before the Dictating Member for pronouncement .07.2023
6. Date on which the fair order comes back to the Sr.P.S./P.S 07.07.2023
7. Date on which the file goes to the Bench Clerk 07.07.2023
8. Date on which the file goes to the Head Clerk..........................................
9. The date on which the file goes to the Assistant Registrar for signature on the order..........................
10. Date of Despatch of the Order..........................................