TaxTMI 
TaxTMI 
TaxTMI 
2023 (6) TMI 1500
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....As transpires from order of the ld.Pr.CIT, the error noted by the ld.Pr.CIT in the order passed by the AO under section 143(3) of the Act was that he had considered the total exports of the assessee of frozen fish during the year as reflected in its P& L account of Rs.87,50,91,292/-, though ITS data of the assessee reflected the total invoice value of goods exported at Rs.87,79,91,536/-. As per the ld.Pr.CIT there was a difference of Rs.29,00,244/- in the export data as per ITS data and that reflected by the assessee in its books of accounts, and the AO having not examined the issue, and sought explanation from the assessee on this aspect, the order passed by theAO was an error causing prejudice to the Revenue. 3. Further perusal of the ....
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.... at impugned difference for the purpose of invocation of sec. 263 ), is arrived at. It shows there are 196 Items, but what is value of individual Item, is not available. How, without Shipping Bill-wise or Export-wise details, is it possible to "reconcile" ? Therefore, what is sought to be allleged ie. There is a difference which has remained 'un'reconciled, would not survive. It is 'not possible' either for AO or for the assessee, to 'compare' and/or 'reconcile': One - which is a Sum-Total; with Two ie. Books of accounts, unless the ITS Data may contain details as to How that SUM is arrived at. It is a settled position of Law that no addition is possible, merely based on IT....
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.... important is each and every shipping bill is reconciled by Customs Deptt. And Bankers with BRCs, which is mandatory as per RBI Directives. Therefore, it is impossbile that some export have been done as per Customs Deptt.'s systems, and it can escape books of accounts of an assessee, because in any case, it is ultimately going to be recorded in the books, upon actual receipt. 5) We further tried to dig into CBEC Data by visiting various sections of ICEGATE Portal of the Customs Deptt. The Screen-shots of what we could find is attached herewith. It revealed 198 entries (instead of 196 shown in ITS Data, and 195 being real number of SBs). And, it does not give any SB wise Value/Data, total of which can be traced back to total-sum....
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.... of sec. 263 could have been invoked, Had it been a case that any addition could have been made, 'only on the basis of a sum-total', without any bifurcation of it. If that could not have been done legally, then no prejudice can be said to have cused to revenue. In view of the above, we pray that : 1) If the ITS Data contains the SB-wise / Invoice-wise details of summation given in it for total yearly Export Values, than it may please be provided to us; or 2) In case ITS Data do not contain any such bifurcation, then no error, much less prejudicial to the revenue, can be said to have been caused, and accordingly the proceedings invoked u/s. 263 may please be dropped. 4. The ld.Pr.CIT, we have noted, went....
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....ITS and as reflected in the books of accounts of the assessee. The ld.counsel for the assessee also drew our attention to the data which the assessee itself extracted from ICEGATE portal (Custom Department's Portal). Screen-shots were produced before us at PB Page no.9 to 14. The ld.counsel for the assessee pointed out that the same revealed 198 entries while ITS data revealed 196 entries; he pointed out that there was no bill-wise detail provided either in the ITS data or data provided in the Custom's Portal ICEGATE; that in the absence of any specification information, the assessee was not in a position to file any reconciliation whatsoever of the exports reflected in the custom data and that reflected in the books of the assessee. 6. ....