ADDL. CIT, NEW DELHI V. SUMITOMO CORPORATION, NEW DELHI

MA 14/DEL/2020

AI Insights

The case involves a Miscellaneous Application filed by the Department against Sumitomo Corporation concerning the taxation of interest income for the Assessment Year 2007-08. The Department sought to rectify the Tribunal's earlier order, claiming that the interest income and certain supervision fees were not included in the total income computation in the original and revised returns. However, the Tribunal noted that the interest income had been duly taxed in a later order by the Assessing Officer, which the assessee accepted without contest. Consequently, the Tribunal dismissed the Department's application, affirming that there was no apparent mistake in the original order.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 705356 (ITAT-DELHI)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-07-2025
• Appeal Filed By: Department
• Order Result: Dismissed
• Assessment Year: 2007-2008
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARPREET KAUR HANSRA
• Assessee Lawyers: HIMANSHU SINHA
• Keywords: Revised return

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘F’ BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER, AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER MA No. 14/DEL/2020 [A/o ITA No. 5964/DEL/2010 [A.Y. 2007-08] Addl. CIT(A) Vs. Sumitomo Corporation Range – 2 C/o R.K.M & Associates International Taxation D-44, Kalkaji New Delhi New Delhi PAN – AABCS 6011 P (Applicant) (Respondent) Assessee By : Shri Himanshu Sinha, Adv. Shri Prashant Meharchandani & Shri Jainender Kataria, Advs. Department By : Ms. Harpreet Kaur Hansra, Sr. DR Date of Hearing : 27.06.2025 Date of Pronouncement : 03.07.2025 ORDER PER NAVEEN CHANDRA, ACCOUNTANT MEMBER:- With this order we shall dispose of the Miscellaneous Application filed by the Department u/s 254(2) of the Income tax Act, 1961 [for short, 'the Act'] for rectifying the mistakes apparent in the order of this 2 MA No. 14/DEL/2020 Sumitomo Corpn..[A.Y 2007-08] Bench of the Tribunal dated 01.07.2019 in ITA No. 5964/DEL/2010 for Assessment Year 2007-08. 2. In this MA, the ld. DR submitted that the assessee has shown interest income of Rs. 88,22,515/- in Schedule SI on which tax of Rs. 13,23,377/- was paid but not disclosed in Part B-T1 – Computation of total income under Para 4 – income from other sources. In the revised return, the assessee has shown interest income of Rs. 2,88,22,515/- in Schedule SI on which tax of Rs. 43,23,377/- was paid but not disclosed in Part B-T1 – Computation of total income under Para 4 – income from other sources. 3. The ld. DR further submitted that in the computation income and revised computation of income, there is difference of Rs. 6,69,527/- on account of supervision fees received from Maruti Suzuki Pvt Ltd. Accordingly, the ld. DR prayed that Para 82 may be rectified as interest income was not included in total income in both original as well as revised return. 4. On the other hand, the ld. AR submitted that interest income of Rs 2,88,22,515/- was declared in the revised computation of income for AY 2007-08. It is the say of the ld. AR that while giving effect to the ITAT 3 MA No. 14/DEL/2020 Sumitomo Corpn..[A.Y 2007-08] order under section 254/143(3), AO has added the interest income of Rs 2,88,22,515/- vide its order dated 21.09.2020 which the assessee has not contested and accepted. Therefore, the Revenue should be agitated as the said interest income has been taxed. 5. We have given thoughtful consideration to the rival submissions. We find that the issue of interest income of Rs 2,88,22,515/-has been addressed and taxed by the AO in its order dated 21.09.2020 while giving effect to the ITAT order. Therefore, we are of the considered view that there does not exist any mistake apparent from record u/s 254 of the I T Act in the Tribunal’s order as has been pointed out through this MA. Accordingly, the same is dismissed. 6. In the result, the MA of the Revenue in MA No. 14/DEL/2020 is dismissed. The order is pronounced in the open court on 03.07.2025. Sd/- Sd/- [VIKAS AWASTHY] [NAVEEN CHANDRA] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 03rd JULY, 2025. VL/ 4 MA No. 14/DEL/2020 Sumitomo Corpn..[A.Y 2007-08] Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Sl No. PARTICULARS DATES 1. Date of dictation of Tribunal Order 2. Date on which the typed draft Tribunal Order is placed before the Dictation Member 3. Date on which the typed draft Tribunal Order is placed before the other Member 4. Date on which the approved draft Tribunal Order comes to the Sr. P.S./P.S. 5. Date on which the fair Tribunal Order is placed before the Dictating Member for pronouncement 6. Date on which the signed order comes back to the Sr. P.S./P.S 7. Date on which the final Tribunal Order is uploaded by the Sr. P.S./P.S. on official website 8. Date on which the file goes to the Bench Clerk alongwith Tribunal Order 9. Date of killing off the disposed of files on the judiSIS portal of ITAT by the Bench Clerks 10. Date on which the file goes to the Supervisor (Judicial) 11. The date on which the file goes for xerox 12. The date on which the file goes for endorsement 13. The date on which the file goes to the Superintendent for checking 14. The date on which the file goes to the Assistant Registrar for signature on the Tribunal order 15. Date on which the file goes to the dispatch section 16. Date of Dispatch of the Order "