Asstt.Commissioner of Income Tax Circle-7, Nagpur V. M/s. Jas Toll Road Company Limited, Nagpur

ITA 137/NAG/2010

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9680 (ITAT-NAGPUR)
• Duration Of Justice: 2 year(s) 1 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-10-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 06-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: L S DEWANI
• Assessee Lawyers: DR MILIND BHUSARI
• Section: 234B; 115JB

Judgement Text

ITA NO. 137/NAG/2010 JAS TOLL ROAD COMPANY LTD, NAGPUR IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH , NAGPUR BEFORE: SHRI P.K. BANSAL , ACCOUNTANT MEMBER AND SHRI D.T. GARASIA , JUDICIAL MEMBER ITA NO. 137 / NAG / 20 10 ASSESSMENT YEAR : 2007 - 08 ACIT CIRCLE - 7 NAGPUR VS. JAS TOLL ROAD COMPANY LTD. NAGPUR (APPELLANT) (RESPONDENT) PAN NO.AABCJ 0659C APPELLANT BY: DR. MILIND BHUSARI, CIT(DR) RESPONDENT BY: SHRI L.S. DEWANI, ADVOCATE DATE OF HEARING: 16.10.2012 DATE OF PRONOUNCEMENT: 18.10.2012 ORDER PER P.K. BANSAL, ACCOUNTANT MEMBER: - THE ONLY ISSUE INVOLVED IN THIS APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE CIT(A) DATED 17.6.2010 RELATE TO THE LEVY OF THE INTEREST U/S 234B AND U/S 234C IN CASE INCOME HAS BEEN DETERMINED U/S 115JB OF THE INCOME - TAX ACT. 2. WE HEARD THE RIV AL SUBMISSIONS AND CAREFULLY CONSIDERED THE SAME. IN OUR VIEW, THIS ISSUE IS NO MORE RES INTEGRA IN VIEW OF THE DECISION OF THE HON BLE SUPREME COURT IN THE CASE OF JCIT VS. ROLTA INDIA LIMITED 3 3 0 ITR 470. IN THIS CASE, HON BLE SUPREME COURT HAS CLEARLY LAID DOWN THAT IN VIEW OF THE SPECIFIC PROVISIONS IN SECTION 115JA AND 115JB TO THE FACT THAT ALL THE OTHER PROVISIONS OF THE ACT SHALL APPLY TO THE COMPANY, INTEREST U/S 234B AND 234C IS PAYABLE ON FAILURE TO PAY THE ADVANCE TAX IN RESPECT OF TAX TO BE L EVIED U/S 115JA/115JB. WE ACCORDINGLY, SET ASIDE THE ORDER OF THE CIT(A) AND RESTORE THE ORDER OF THE ASSESSING OFFICER , S O FAR, IT RELATE TO THE INTEREST LEVIED U/S 234B & U/S 234C OF THE I.T. ACT IS CONCERNED. 3. IN THE RESULT, THE APPEAL FILED BY THE R EVENUE STANDS ALLOWED. PRONOUNCED IN THE OPEN COURT ON 18.10 .20 1 2 SD/ - SD/ - ( D.T. GARASIA ) (P.K. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER VG/ SPS NAGPUR DATED 18 TH OCTOBER , 20 1 2 ITA NO.137/NAG/2010 JAS TOLL ROAD COMPANY LTD, NAGPUR 2 COPY TO 1 ACIT, CIRCLE - 7, NAGPUR 2 JAS TOLL ROAD COMPANY LI MITED, F - 8, MIDC, HINGNA ROAD, NAGPUR 3 THE CIT - IV , NAGPUR 4 THE CIT (A) , NAGPUR 5 THE DR, ITAT, NAGPUR 6 GUARD FILE. BY ORDER SR. PRIVATE SECRETAR Y INCOME TAX APPELLATE TRIBUNAL NAGPUR