Z F Steering Gear (India) Ltd., Pune V. Deputy Commissioner of Income-tax,

ITA 1617/PUN/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 9112 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 7 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 09-12-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: ABHAY KULKARNI
• Section: 244A; 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUNE , , , BEFORE SHRI ANIL CHATURVEDI, AM AND SHRI VIKAS AWASTHY, JM . / ITA NO . 1617 /P U N/201 5 / ASSESSMENT YEAR : 20 1 2 - 13 ZF STEERING GEAR (INDIA) LTD., GAT NO. 1242/44, VILLAGE - VADU BUDRUK, TALUKA - SHIRUR, DISTRICT - PUNE - 412216 PAN : AAACZ0549G ....... / APPELLANT / V/S. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(1), PUNE / RESPONDENT ASSESSEE BY : SHRI ABHAY KULKARNI REVENUE BY : SHRI AJAY MODI / DATE OF HEARING : 31 - 07 - 2017 / DATE OF PRONOUNCEMENT : 31 - 0 7 - 2017 / ORDER PER VIKAS AWASTHY, JM : THE APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) - 11, PUNE DATED 15 - 10 - 2015 PASSED U/S. 154 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR THE ASSESSMENT YEAR 20 12 - 13. 2 ITA NO. 1617/PUN/2015, A.Y. 2012 - 13 2. THE ASSESSEE HAS FILED AN APPLICATION DATED 20 - 07 - 2017 TO WITHDRAW THE APPEAL. THE RELEVANT EXTRACT OF THE APPLICATION READS AS UNDER : 1.1 THE ASSESSEE IS A PUBLIC LIMITED COMPANY ENGAGED IN THE BUSINESS OF MANUFACTURING OF STEERING GEARS. 1.2 FOR THE AY 2012 - 13, THE APPELLANT HAS FILED AN APPEAL (REFER APP EAL MEMO MARKED AS - ANNEXURE - B) BEFORE YOUR HONOUR AGAINST THE ORDER DT. 15 OCTOBER 2015 PASSED BY THE HON'BLE CIT(A) (COPY ENCLOSED MARKED AS ANNEXURE - C). IT IS SUBMITTED THAT THE HON'BLE CIT(A) HAS DISMISSED THE APPELLANT'S PLEA FOR GRANTING INTEREST ON REFUND AMOUNT U/S 244A OF THE INCOME TAX ACT, 1961 ('THE ACT') FOR THE PERIOD OF 15 MONTHS [I.E. OCTOBER 2012 TO DECEMBER 2013] COVERED BY PROCEEDINGS BEFORE THE HON'BLE INCOME TAX SETTLEMENT COMMISSION ('IT S C'). THE HON'BLE CIT(A) HELD THAT AS PER SECTI ON 244A(2) OF THE ACT, ANY DECISION REGARDING EXCLUSION OF PERIOD FOR INTEREST ON REFUND IS TO BE DECIDED BY THE PR. CCIT /PR. CIT /CCIT /CIT AND HIS ORDER SHALL BE FINAL. FURTHER, THE HON'BLE CIT(A) MENTIONED IN THE ORDER THAT THE APPELLANT IS AT LIBERT Y TO TAKE ITS CASE TO THE ADMINISTRATIVE CIT AS PER THE PROVISIONS OF THE ACT. 1.3 THEREAFTER, BASED ON THE DIRECTION RECEIVED FROM THE HON'BLE CIT(A), ON 9 NOVEMBER 2015, IN ADDITION TO THE APPEAL FILED BEFORE YOUR HONOUR, THE APPELLANT HAS ALSO FILED A N APPLICATION BEFORE THE HON'BLE COMMISSIONER OF INCOME TAX - CENTRAL, PUNE ('CIT - CENTRAL) FOR GRANT OF INTEREST U/S 244A OF THE ACT. CONSIDERING THE APPELLANT'S APPLICATION, THE HON'BLE CIT - CENTRAL VIDE THEIR ORDER DT. 27 MARCH 2017 HAS ALLOWED INTEREST U /S 244A ON REFUND DUE FOR THE PERIOD OF 15 MONTHS COVERED BY PROCEEDINGS BEFORE THE HON'BLE ITSC (COPY ENCLOSED MARKED AS - ANNEXURE - D). 1.4 SUBSEQUENTLY, THE ASSESSING OFFICER ('THE AO') VIDE ORDER DT. 20 APRIL 2017 PASSED U / S 154 OF THE ACT FOR GIVING EFFECT TO THE ORDER PASSED BY THE HON'BLE CIT - CENTRAL HAS GRANTED INTEREST U / S 244A ON REFUND DUE FOR THE PERIOD OF 15 MONTHS COVERED BY PROCEEDINGS BEFORE THE HON'BLE ITSC (COPY ENCLOSED MARKED AS - ANNEXURE - E). 1 . 0 APPELLANT'S PLEA: IT IS SUBMITTED BEFORE YOUR HONOUR THAT SINCE THE ISSUE INVOLVED IN THE CAPTIONED APPEAL FILED BY THE APPELLANT HAS BEEN RESOLVED BY THE HON'BLE CIT - CENTRAL VIDE THEIR ORDER DT. 27 MARCH 2017 IN FAVOUR OF THE APPELLANT, THE APPELLANT HAS DECIDED NOT TO PUR SUE THE CAPTIONED APPEAL FILED BEFORE YOUR HONOUR AND WITHDRAW THE SAME. AS SUCH, IT IS LEADED BEFORE YOUR HONOUR TO ALLOW THE APPELLANT TO WITHDRAW THE CAPTIONED APPEAL. IN CONVENIENCE CAUSE TO YOUR HONOUR IS DEEPLY REGRETTED. 3 ITA NO. 1617/PUN/2015, A.Y. 2012 - 13 3. SHRI AJAY MODI REPRES ENTING THE DEPARTMENT SUBMITTED THAT THE DEPARTMENT HAS NO OBJECTION IN CASE THE ASSESSEE WISHES TO WITHDRAW THE APPEAL. 4. IN VIEW OF THE WRITTEN REQUEST MADE BY THE ASSESSEE/APPELLANT THE APPEAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT AFTER HEARING OF THE APPEAL ON MONDAY, T HE 31 ST DAY OF JULY, 2017 . SD/ - SD/ - ( / ANIL CHATURVEDI ) ( / VIKAS AWASTHY) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE; / DATED : 31 ST JULY, 2017 RK / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 11, PUNE 4. THE PR. CIT (CENTRAL), PUNE 5. , , , / DR, ITAT, B BENCH, PUNE. 6. / GUARD FILE. // // TRUE COPY// / BY ORDER, / PRIVATE SECRETARY, , / ITAT, PUNE