SHRI DNYANDEO NINU PATIL, Akola V. D.C.I.T. Akola Circle, Akola

CO 24/NAG/2015

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5129 (ITAT-NAGPUR)
• Duration Of Justice: 4 year(s) 2 month(s) 17 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 18-02-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 01-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR MILIND BHUSARI; AGNES THOMAS
• Assessee Lawyers: S C THAKUR
• Keywords: Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL BENCH, NAGPUR (AT E - COURT, PUNE) BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI PARTHA SARATHI CHAUDHURY , JM . /CO NO.24 / NAG/2015 /ASSESSMENT YEAR: 2008 - 09 (ARISING OUT OF ITA NO. 319/NAG /201 4 ) SHRI DNYANDEO NINU PATIL, C/O. ELITE UDYOG, NEAR RADHAKRISHNA CINEMA, MURTIZAPUR ROAD, AKOLA - 444 107 PAN: ADPPP0651A .. / CROSS OBJECT OR / V/S. THE DEPUTY COMMISSIONER OF INCOME TAX, AKOLA CIRCLE, AKOLA. / RESPONDENT A SSESSEE BY : SHRI S.C. THAKUR REVENUE BY : DR. MILIND BHUSARI, CIT & SMT. AGNES THOMAS, JCIT / DATE OF HEARING : 1 8 .0 2 .2020 / DATE OF PRONOUNCEMENT : 18 .02 .2020 / ORDER PER PARTHA SARATHI CHAUDHU RY, JM : THIS CROSS OBJECTION FILED BY THE ASSESSEE EMANATES FROM THE APPEAL FILED BY THE REVENUE IN ITA NO.319/NAG/201 4 WHICH WAS HEARD ON THE BASIS OF LOW TAX EFFECT. IN THE CROSS OBJECTION FILED BEFORE US, THE ASSESSEE REFERS TO 2 CO NO. 24 /NAG /20 15 A.Y. 2008 - 09 THE ISSUE U/S.14A OF THE INCOME T AX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT). 2. THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ISSUE RAISED IN THE PRESENT CROSS OBJECTION HAS BEEN DECIDED IN ASSESSEES OWN CASE IN ITA NO.1419/PUN/2015 FOR THE ASSESSMENT YEAR 2011 - 12 BY THE CO - ORDINATE BENCH OF THE TRIBUNAL, PUNE VIDE ORDER DATED 15.05.2018 WHEREIN THE QUESTION BEFORE THE TRIBUNAL WAS AS FOLLOWS: 1. T HE LD. CIT(A) ERRED IN DELETING THE ADDITION U/S.14A ON PRO - RATA BASIS ON ACCOUNT OF INTEREST PAID ON BORROWED FUNDS. 2.1 THE LD. COUNSEL FOR THE ASSESSEE FURTHER SUBMITTED THAT THE LD. CIT(APPEALS) HAS PASSED THE ORDER ON 05.03.2014 AND OBVIOUSLY, THE DECISION OF THE TRIBUNAL ON THE ISSUE WAS NOT AVAILABLE BEFORE THE FIRST APPELLATE AUTHORITY DURING THAT TIME. THEREFORE, TH E LD. COUNSEL FOR THE ASSESSEE PRAYED THAT THE MATTER MAY BE RESTORED TO THE FILE OF THE LD.CIT(APPEALS) TO CONSIDER THE SAID DECISION OF THE CO - ORDINATE BENCH OF THE TRIBUNAL, PUNE (SUPRA.) AND ADJUDICATE THE ISSUE ACCORDINGLY , AS PER LAW. 3. T HE LD. DR FAIRLY CONCEDED TO THE REQUEST OF THE LD. AR OF THE ASSESSEE. 4. BOTH SIDES HEARD. WE FIND THAT THE ISSUE U/S.14A OF THE ACT ON PRO - RATA BASIS HAS BEEN ALREADY DEALT WITH IN ASSESSEES OWN CASE (SUPRA.) BY THE CO - ORDINATE BENCH OF THE TRIBUNAL, PUNE AND T HE SAME WAS NOT AVAILABLE BEFORE THE FIRST APPELLATE AUTHORITY WHILE ADJUDICATING THE ISSUE. THEREFORE, IN THE INTEREST OF JUSTICE, THE MATTER NEEDS TO BE RESTORED TO THE FILE OF THE LD. CIT(APPEALS) TO PASS FRESH ORDER ADJUDICATING THE ISSUE AS PER LAW R ELYING ON 3 CO NO. 24 /NAG /20 15 A.Y. 2008 - 09 THE DECISION PASSED BY THE TRIBUNAL AS MENTIONED HEREINABOVE. WE ORDER ACCORDINGLY. 5. IN THE RESULT, CROSS OBJECTION FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRO NOUNCED ON 18 TH DAY OF FEBRUARY , 2020 . SD/ - SD/ - D. KARUNAKARA RAO PARTHA SARATHI CHAUDHURY ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; / DATED : 18 TH FEBRUARY , 20 20 . SB / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEALS) - 1, NAGPUR 4. THE CIT - 1, NAGPUR. 5 . , , / DR, ITAT, NAGPUR. 6. / GUARD FILE. // TRUE COPY // / BY ORDER, / PRIVATE SECRETARY , / ITAT, PUNE . 4 CO NO. 24 /NAG /20 15 A.Y. 2008 - 09 DATE 1 DRAFT DICTATED ON 18 .0 2 .2020 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 1 8.02 .2020 SR.PS/PS 3 DRAFT PROPOSED AND PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/JM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 DATE OF UPLOADING OF ORDER SR.PS/PS 8 FILE SENT TO BENCH CLERK SR.PS/PS 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE A.R 11 DATE OF DISPATCH OF ORDER