ADDL. CIT (LTU), Bangalore V. M/s. Astra Zeneca Pharma India Ltd, Bangalore

ITA 1202/BANG/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 51279 (ITAT-BANGALORE)
• Duration Of Justice: 10 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 29-09-2011
• Assessment Year: 1996-1997
• Appeal Filed On: 03-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: UMAPATHI
• Assessee Lawyers: H N GOUTHAMA
• Keywords: Period of limitation

Judgement Text

PAGE 1 OF 4 ITA NO.1202/BANG/201 0 1 INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES A BEFORE SHRI N K SAINI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K, JUDICIAL MEMBER ITA NOS.1202/BANG/2010 (ASST. YEAR 1996-97) THE ADDL. COMMISSIONER OF INCOME TAX, (LTU), BANGALORE. - APPELLANT VS M/S ASTRA ZENECA PHARMA INDIA LTD., P.B.NO.2483, OFF BELLARY ROAD, HEBBAL, BANGALORE. - RESPONDENT PA NO.AABCA1722B DATE OF HEARING : 29/09/2011 DATE OF PRONOUNCEMENT : 29/09/2011 APPELLANT BY : SHRI UMAPATHI, ADDL. CIT RESPONDENT BY : SHRI H N GOUTHAMA, C.A. O R D E R PER GEORGE GEORGE K : THIS APPEAL INSTITUTED BY THE DEPARTMENT IS DIRECT ED AGAINST THE ORDER OF THE CIT(A)-LTU, BANGALORE DATED 30/8/2 010.. THE RELEVANT ASST. YEAR IS 1996-97. 2. THE EFFECTIVE GROUNDS RAISED BY THE REVENUE READ S AS FOLLOWS:- 1. THE LEARNED CIT(A), LTU HAS FAILED TO APPRECIATE THAT THE TRANSACTION MADE ON SALE AND LEASE BACK TRANSA CTION PAGE 2 OF 4 ITA NO.1202/BANG/201 0 2 AND MONIES PAID ADVANCE TO MPSEB WERE PURELY IN THE NATURE OF FINANCIAL TRANSACTION. 2. THE CIT(A) ERRED IN DELETING THE INTEREST OF RS .40 LAKHS ADVANCED TO MPSEB. 3. WHEN THIS MATTER WAS TAKEN UP FOR HEARING, THE LEARNED AR, AT THE OUTSET SUBMITTED THAT AS AGAINST THE IMPUGNED O RDER OF THE CIT(A), THE ASSESSEE HAD ALSO FILED AN APPEAL BEFORE THE TRIBUN AL. THE TRIBUNAL DISPOSED OFF THAT MATTER VIDE ITS ORDER DATED 31 ST MAY, 2011 IN ITA NO.1224/10. IT IS SUBMITTED THAT IN THE ABOVE APPEAL THE ASSESSEE HAD CHALLENGED THAT THE IMPUGNED ASSESSMENT WAS BARRED BY LIMITATION. THE T RIBUNAL HELD THAT THE ASSESSMENT IN QUESTION IS BARRED BY LIMITATION. THE RELEVANT FINDING OF THE TRIBUNAL READS AS FOLLOWS:- 13. FURTHER PERUSING THE FACTS, WE FIND THAT THE (A) DATE OF TRIBUNAL ORDER IS 31 ST JULY, 2006. (B) DATE OF RECEIPT OF THE ORDER BY THE CIT IS 6/10/2006 (AS VERIFIED FROM THE REGISTRY). (C) DATE OF THE ASSESSMENT ORDER PURSUANT TO ITAT ORDER 15.12.2009. (D) DATE BEFORE WHICH THE AO HAS TO PASS THE ORDER AS PER SECTION 153(2A) 1/3/2008 IT IS APPARENT FROM THE ABOVE THAT THE ORDER PASSED BY THE LD. AO IS MUCH BEYOND THE PERIOD OF LIMITATION A S PROVIDED U/S 153(2A) OF THE ACT, AND THEREFORE THE ORDER OF LD.AO IS BARRED BY LIMITATION. SINCE WE HA VE DECIDED THE ISSUE AGAINST THE REVENUE ON LIMITATION , WE DO PAGE 3 OF 4 ITA NO.1202/BANG/201 0 3 NOT FIND IT NECESSARY TO LOOK INTO THE MERITS OF THE CASE. IT IS ORDERED ACCORDINGLY. THEREFORE, IT WAS SUBMITTED THAT THE ASSESSMENT HAV ING BEEN HELD TO BE BARRED BY LIMITATION, THE SUBSTRATUM FOR THE REVENUE S APPEAL HAS LOST ITS SIGNIFICANCE AND THE SAME IS TO BE DISMISSED. 4. THE LEARNED DR, ON THE OTHER HAND, SUBMITTED TH AT HE IS NOT AWARE WHETHER AN APPEAL HAS BEEN PREFERRED AS AGAIN ST THE ORDER OF THE TRIBUNAL IN ITA NO.1224/10 DATED 31/5/2011. IT WAS FURTHER SUBMITTED THAT IN THE EVENT THE APPELLATE FORUM REVERSED THE ORDER OF THE TRIBUNAL, THE REVENUE MAY BE AT LIBERTY TO REVIVE THE PRESENT A PPEAL. 5. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. THE TRIBUNAL IN ITA NO.1224/10 DATED 31 /5/2011 HAD HELD THAT THE ASSESSMENT IN QUESTION FOR THE CONCERNED ASST. YEAR IS BARRED BY LIMITATION, THEREFORE, THE SUBSTRATUM FOR WHICH THE APPEAL OF THE REVENUE LIES IS NO LONGER IN EXISTENCE. HENCE, THE APPEAL FILED BY THE REVENUE IS DISMISSED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH DAY OF SEPTEMBER, 2011 SD/- SD/- (N K SAINI) (GEORGE GEORGE K) ACCOUNTANT MEMBER JUDICIAL MEMBER PAGE 4 OF 4 ITA NO.1202/BANG/201 0 4 COPY TO:- 1.THE REVENUE 2. THE ASSESSEE 3. THE CIT CONCE RNED 4. THE CIT(A) CONCERNED 5. THE DR 6. GF MSP/-