ITO ,Ward-1(1), Jamshedpur V. M/s- Anand Vihar Promoters & Developers (P) Ltd., Jamshedpur

ITA 159/RAN/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8856 (ITAT-RANCHI)
• Duration Of Justice: 2 year(s) 3 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 20-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P K MONDAL JCIT LD
• Assessee Lawyers: DEVESH PODDAR LD
• Section: 234B

Judgement Text

1 ITA NO. 159/RAN/2015 IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI BENCH, RANCHI BEFORE: SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIA L MEMBER I.T.A NO. 159/RAN/2015 A.Y 2010-11 INCOME TAX OFFICER WARD 1(3), JAMSHEDPUR APPELLANT VS. M/S. ANAND VIHAR PROMOTERS & DEVELOPERS PAN: AAFCA8771J RESPONDENT FOR THE APPELLANT : SHRI P.K. MONDAL, JCIT, LD.DR FOR THE RESPONDENT : SHRI DEVESH PODDAR, ADVOCATE , LD.AR DATE OF HEARING : 22-02-2018 DATE OF PRONOUNCEMENT : 28 -02-2018 ORDER PER BENCH: THIS APPEAL BY REVENUE IS AGAINST THE ORDER DT. 28- 09-2015 OF CIT(A), JAMSHEDPUR FOR THE ASSESSMENT YEAR 2010-11. 2. THE ONLY ISSUE IS TO BE DECIDED AS TO WHETHER TH E CIT-A JUSTIFIED IN DELETING THE ADDITIONS MADE ON ACCOUNT OF CHARGI NG OF INTEREST U/S. 234B OF THE ACT IN THE FACTS AND CIRCUMSTANCES OF T HE CASE. 3. AFTER HEARING THE RIVAL SUBMISSIONS AND PERUSIN G THE RECORD, WE FIND THAT THE LD. CIT-A DELETED THE ADDITION ON AC COUNT OF CHARGING OF ENTIRE INTEREST OF RS.21,26,399/-CHARGED U/S. 234B OF THE ACT BY RELYING ON THE DECISION OF THE HONBLE JURISDICTION AL HIGH COURT IN THE CASE OF SHRI AJAY PRAKASH VERMA IN TA NO. 38 OF 201 0 REPORTED IN 2013(1)TMI 140, WHICH IN TURN, FOLLOWED THE LAW LAI D DOWN BY THE FULL BENCH IN THE CASE OF SMT. TEJ KUMARI REPORTED IN 11 4 TAXMAN 404 (PAT) (FB), WHERE IT WAS HELD THAT INTEREST CANNOT BE LEVIED ON ASSESSED INCOME AND IT CAN BE LEVIED ONLY ON THE I NCOME DECLARED IN 2 ITA NO. 159/RAN/2015 THE RETURN OF INCOME. THE APPELLANT REVENUE CHALLEN GED THE SAME BEFORE THE HONBLE SUPREME COURT BY WAY OF A SLP WH ICH WAS DISMISSED BY HOLDING THAT THERE IS NO MERITS IN THE APPEAL VIDE ITS ORDER DT. 01-08-2000. THE LD. DR COULD NOT CONTROVE RT THE SAME. 4. WE FURTHER FIND THE CO-ORDINATE BENCH, ITAT, RAN CHI IN THE CASE OF RSB INDUSTRIES LTD(FORMERLY KNOWN AS M/S. LAL TE CHNOLOGIES LTD) VS. ACIT, ITA NOS. 199 & 200/RAN/2014 AND 212 & 213 /RAN/2014 FOR THE A.YS 2009-10 & 2010-11 AND IN THE CASE OF SHREE NIWAS JOSHI VS. ACIT, ITA NOS. 279 & 280/RAN/2016 FOR THE A.YS. 200 1-02 & 2005- 06, COPY OF THE SAME ARE ON RECORD, ON SIMILAR SET OF FACTS AND CIRCUMSTANCES HAS DISPOSED OF THE SAID ISSUE IN FAV OUR OF ASSESSEE BY DISMISSING THE GROUNDS OF APPEAL OF THE REVENUE BY FOLLOWING THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT O F JHARKHAND IN THE CASE OF SUPRA. WE FURTHER FIND THAT THE ISSUE IN HAND, FACTS AND CIRCUMSTANCES OF THOSE CASES OF ITAT RANCHI ARE IDE NTICAL AND SIMILAR. 5. IN VIEW OF ABOVE, AND RESPECTFULLY FOLLOWING THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF AJ AY PRAKASH VARMA SUPRA , WE ARE OF THE VIEW THAT AO WAS NOT JUSTIFIED IN C HARGING THE INTEREST ON ASSESSED INCOME AND THE CIT-A WAS CORR ECT IN DELETING THE SAME AND THE ORDER OF CIT-A IS UPHELD. THEREFO RE, THE SOLITARY GROUND RAISED BY THE REVENUE IN THIS REGARD IS DISM ISSED. 6. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- J. SUDHAKAR REDDY S.S. VISWANETHRA RAVI ACCOUNTANT MEMBER JUDICIAL MEMBER DATED :28-02-2018 3 ITA NO. 159/RAN/2015 PP(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT THE ITO, WARD 1(1), 47 C.H AREA, JAMSHE DPUR-831001. 2 RESPONDENT M/S. ANAND VIHAR PROMOTERS & DEVELOPERS PVT. LTD 1 ST FLOOR, MUNESHWARI BHAWAN, CONTRACTOR AREA, BISTUPU R, JAMSHEDPUR-831001. 3 . THE CIT(A), RANCHI 4. 5. CIT , RANCHI DR, ITAT RANCHI BENCHES, RANCHI. / TRUE COPY, BY ORDER, SR.PS ITAT, RANCHI