KOTAK MAHINDRA CAPITAL CO. LTD, MUMBAI V. DCIT RG 3(2), MUMBAI

ITA 1812/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2683 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 08-06-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 06-03-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: H M WANARE
• Keywords: Gift

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI BEFORE HONBLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR, ( AM ) ./ I.T.A. NO . 1812 /MUM/20 1 3 ( / ASSESSMENT YEAR : 20 08 - 09 ) KOTAK MAHINDRA CAPITAL CO.LTD, 2 ND FLOOR, BAKTHAWAR, 229, NARIMAN POINT, MUMBAI - 400021 / VS. DY. COMMISSIONER OF INCOME TAX - RANGE 3(2), AAYAKAR BHAVAN, MUMBAI - 400020 ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN/GIR NO. : AAACK5577D / APPELLANT BY: SHRI FARROKH IRANI / RESPONDENT BY SHRI H M WANARE / DATE OF HEARING : 1 9 . 7 .201 6 / DATE OF PRONOUN CEMENT : 26 . 7.2016 / O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER : THIS IS AN APPEAL FILED BY THE ASSESSEE AND IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A) - 4, MUMBAI DT. 2 8 .1 2 .201 2 PERTAINING TO A.Y. 20 08 - 09 . 2. AT THE OUTSET, THE LD.AR D ID NOT PRESS GROUND NO.1, AND THEREFORE, THE SAME IS DISMISSED AS NOT PRESSED. 3. THE ISSUE RAISED IN GROUNDS OF APPEAL NO.2 TO 7 IS AGAINST UPHOLDING THE ORDER OF AO TREATING CERTAIN EXPENSES SUCH AS BUSINESS PROMOTION ITA NO. 1812 /M/1 3 2 EXPENSES, GIFT EXPENSES, TELE PHONE EXPENSES, MOBILE EXPENSES, TRAVELLING EXPENSE, CONFERENCE AND MEETING EXPENSES ETC. ARE LIABLE FOR LEVY OF FRINGE BENEFIT TAX. 4 . AT THE TIME OF HEARING THE LD. AR VEHEMENTLY SUBMITTED THAT THE ISSUE OF FBT ON THE SAID EXPENSES CLAIMED WAS REST ORED TO THE FILE OF AO IN ITS OWN CASE BY THE DECISION OF CO - ORDINATE BENCH OF THE TRIBUNAL IN ITA NO.7334/MUM/2010 (AY - 2006 - 07) AND ITA NO.8313/MUM/2011 (AY - 2007 - 08) DATED 16.1.2013 FOR FRESH ADJUDICATION IN THE LIGHT OF THE OBSERVATIONS MADE BY THE TRIBUNAL IN ITA NO.63/MUM/2010 (AY - 2006 - 07) IN THE CASE OF SISTER CONCERN. A COPY OF THE SAID ORDER FILED BY THE LD.AR OF THE ASSESSEE IS TAKEN ON RECORD. WE FIND MERIT IN THE SUBMISSIONS OF THE LD.AR AND FIND FROM THE RECORD AVAILABLE BEFORE US INCLUD ING THE DECISION OF THE CO - ORDINATE BENCH OF THE TRIBUNAL WHEREIN AN IDENTICAL ISSUE HAS BEEN RESTORED TO THE FILE OF THE AO FOR FRESH ADJUDICATION IN THE LIGHT OF THE DECISION OF THE RENDERED IN ITA NO.63/MUM/2010 (AY - 2006 - 07). RELEVANT EXTRACT OF TH E DECISION RENDERED IN ITA NO.7334/MUM/2010 AND ITA NO.8313/MUM/2011(SUPRA) IS REPRODUCED BELOW: 6. WE HAVE CAREFULLY PERUSED THE ORDERS OF THE LOWER AUTHORITIES. WE FIND FORCE IN THE CONTENTION OF THE LD. COUNSEL. THEREFORE, RESPECTFULLY FOLLOWING THE D ECISION OF THE TRIBUNAL IN ITA NOS. 63/M/10 AND 5151/M/10 (SUPRA), WE RESTORE THESE ISSUES BACK TO THE FILES OF THE AO FOR ADJUDICATION AFRESH IN THE LIGHT OF THE OBSERVATIONS MADE BY THE TRIBUNAL IN ITA NO. 63/M/10 ITA NO. 1812 /M/1 3 3 WE, THEREFORE , RESPECTFULLY FOLLOWI NG T HE DECISION OF THE CO - ORDINATE BENCH OF T HE TRIBUNAL RESTORE THE ISSUE BACK TO THE FILE OF THE AO WITH A DIRECTION TO DECIDE THE MATTER AFRESH IN THE LIGHT OF DECI SI ON OF THE TRIBUNAL AS CITED ABOVE. 5 . IN THE RESULT, THE APPEAL OF THE ASSESSEE IS AL LOWED FOR STATISTICAL PURPOSES. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 26TH JULY, 2016 . 26 TH JULY, 2016 SD SD (JOGINDER SINGH ) ( RAJESH KUMAR ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI: 26TH JULY, 2016 . . . ./ SRL , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - CONCERNED 4. / CIT CONCERNED 5. 6. , , / DR, ITAT, MUMBAI CONCERNED / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) , /ITAT, MUMBAI