ACIT v. Shiv Shipping Services

Case Laws Analysis
REFERRED Pr. CIT v. Rawmin Mining & Industries (P) Ltd. 2020 TaxPub(DT) 0682 (Guj-HC)

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The Tax Publishers2023 TaxPub(DT) 4248 (Rkt-Trib) IN THE ITAT RAJKOT WASEEM AHMED, A.M. & T.R SENTHIL KUMAR, J.M. ACIT v. Shiv Shipping Services ITA No. 19/Rjt/2021 12 July, 2023 Revenue by: K.L Solanki, Sr. D.R Assessee by: Mehul Ranpura, A.R ORDER *Waseem Ahmed A. M.* The captioned appeal has been filed at the instance of the Revenue against the order of the Learned Commissioner (Appeals)-11, Ahmedabad, (in short Learned Commissioner (Appeals)) arising in the matter of assessment order passed under section 143(3) read with section 147 of the Income Tax Act 1961 (here-in-after referred to as 'the Act') relevant to the Assessment Year 2010-11. 2. The Revenue has raised following grounds of appeal:-- 1. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that additions were made on the basis of inquiry report of a committee appointed by the Government of India. 2. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that in export of iron ore there is large scale under invoicing by some of the companies. 3. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in the facts that the Assessing Officer has made addition on the basis of analyses of export data of the custom department/various government agencies, and ignore the fact that the under invoicing of iron ore was noticed by the different investigation agencies. 4. On the facts and in circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that average price of Iron Ore was compared with the average price of corresponding grade and found that under invoicing was done. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2023 TaxPub(DT) 4248 (Rkt-Trib)

IN THE ITAT RAJKOT

WASEEM AHMED, A.M. & T.R SENTHIL KUMAR, J.M.

ACIT v. Shiv Shipping Services

ITA No. 19/Rjt/2021

12 July, 2023

Revenue by: K.L Solanki, Sr. D.R

Assessee by: Mehul Ranpura, A.R

ORDER

Waseem Ahmed A. M.

The captioned appeal has been filed at the instance of the Revenue against the order of the Learned Commissioner (Appeals)-11, Ahmedabad, (in short Learned Commissioner (Appeals)) arising in the matter of assessment order passed under section 143(3) read with section 147 of the Income Tax Act 1961 (here-in-after referred to as 'the Act') relevant to the Assessment Year 2010-11.

2. The Revenue has raised following grounds of appeal:--

1. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that additions were made on the basis of inquiry report of a committee appointed by the Government of India.

2. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that in export of iron ore there is large scale under invoicing by some of the companies.

3. On the facts and in the circumstances of the case and in law, learned Commissioner (Appeals) erred in the facts that the Assessing Officer has made addition on the basis of analyses of export data of the custom department/various government agencies, and ignore the fact that the under invoicing of iron ore was noticed by the different investigation agencies.

4. On the facts and in circumstances of the case and in law, learned Commissioner (Appeals) erred in ignoring the facts that average price of Iron Ore was compared with the average price of corresponding grade and found that under invoicing was done.