ACIT, Cir.7, Pune, Pune V. Yashodhan Hotels Pvt.Ltd., Pune

ITA 1274/PUN/2009

• Counselvise Citation: 127424514 RSA 2009
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-06-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 06-11-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S C SHIVAGUNDE
• Assessee Lawyers: AMBEDKAR
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER AND SHRI G S PANNU, ACCOUNTANT MEMBER ITA NO 1274/PN/09 (ASSTT. YEAR: 2005-06) ASSTT. COMMISSIONER OF I.T .. APPELLANT CIR.7, PUNE VS. YASHODHAN HOTELS P LTD., .. RESPON DENT JOG CENTTRE, 28/1 WAKDEWADI, PUNE MUMBAI ROAD, PUNE 03 PAN AAACY 0617N APPELLANT BY : SHRI S C SHIVA GUNDE RESPONDENT BY: SHRI S H AMBEDKAR ORDER PER G.S. PANNU, AM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDE R OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-III, PUNE DATED 19 .8.2009 WHICH, IN TURN, HAS ARISEN OUT OF THE ORDER DATED 12.11.2007 PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) OF THE INCOME-TAX ACT, 1961 (IN SHORT THE ACT), PERTAINING TO THE ASSESSMENT YEAR 2005- 06. 2. THE ONLY ISSUE IN THIS APPEAL RELATES TO DISALLOWA NCE OF RS 25,61,159/- OUT OF INTEREST PAID TO RUPEE CO-OP. BAN K LTD. THE COMMISSIONER OF INCOME-TAX (APPEALS) HAS SINCE DELETED THE SAID DISALLOWANCE FOLLOWING HIS OWN DECISION IN ASSESSEES OWN C ASE FOR THE ASSESSMENT YEAR 2002-03. AGAINST THE AFORESAID, REVENUE IS IN APPEAL BEFORE US. 3. BEFORE US, IT WAS A COMMON GROUND BETWEEN THE PAR TIES THAT THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS) FOR T HE ASSESSMENT YEAR 2002-03, WHICH HAS BEEN RELIED UPON BY HIM TO D ELETE THE IMPUGNED 2 DISALLOWANCE, HAS SINCE BEEN SET ASIDE BY THE TRIBUNAL, VIDE ITA NOS 980 TO 982/PN/06 DATED 24.4.2008 AND THE MATTER HAS BEEN RESTORED BACK TO THE FILE OF THE COMMISSIONER OF INCOME-TAX (APPEA LS) FOR ADJUDICATION AFRESH. IT WAS, THEREFORE, A COMMON POIN T BETWEEN THE PARTIES THAT THE IMPUGNED ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS) BE ALSO SET ASIDE AND THE MATTER REMANDED BACK IN THE LIGHT OF THE PRECEDENT. 4. IN VIEW OF THE AFORESAID FACTUAL MATRIX AND IN DEFE RENCE TO THE SUBMISSIONS PUT-FORTH BEFORE US BY THE RESPECTIVE PARTIES, WE HEREBY SET ASIDE THE IMPUGNED ORDER OF THE COMMISSIONER OF INCOME- TAX (APPEALS) AND RESTORE THE MATTER BACK TO HIS FILE FOR ADJUDICATIO N AFRESH IN THE LIGHT OF THE DIRECTIONS OF THE TRIBUNAL CONTAINED IN ITS ORDER DATED 24.4.2008 (SUPRA) IN ASSESSEES OWN CASE FOR THE EARLIER ASSESSMENT YEAR. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS ALLOWE D FOR STATISTICAL PURPOSES. DECISION WAS PRONOUNCED IN THE OPEN COURT ON 30 TH DAY OF JUNE, 2011. SD/- SD/- (SHAILENDRA KUMAR YADAV) (G.S. P ANNU) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE: DATED: 30 TH JUNE, 2011 B COPY OF THE ORDER IS FORWARDED TO : 1. ASSESSEE 2. DEPARTMENT 3. THE CIT(A)-III, PUNE 4. THE CIT-IV, PUNE 4. THE D.R, B BENCH, PUNE 5. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, NAGPUR BENCH, NAGPUR 3