ITO 7(2)-1, MUMBAI V. RISHIRAJ FILAMENTS LTD, MUMBAI

ITA 1991/MUM/2010

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 1410 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-07-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 05-07-2010
• Assessment Year: 2006-2007
• Appeal Filed On: 11-03-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K SINGH
• Section: 234B; 115JB; 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'SMC' BENCH, MUMBAI BEFORE SHRI A.L. GEHLOT, ACCOUNTANT MEMBER ITA NO. 1991/MUM/2010 (ASSESSMENT YEAR: 2006-07) INCOME TAX OFFICER - 7(2)(1) M/S. RISHIRAJ FILAMENT S LTD. ROOM NO. 670, 6TH FLOOR 12-A, NEW SUN MILL COMPOUND AAYAKAR BHAVAN, M.K. ROAD VS. LOWER PAREL, MUMBAI 400013 MUMBAI 400020 PAN - AAACR 2494 L APPELLANT RESPONDENT APPELLANT BY: SHRI S.K. SINGH RESPONDENT BY: NONE O R D E R PER A.L. GEHLOT, A.M. THIS APPEAL BY THE REVENUE IS AGAINST THE ORDER OF THE CIT(A) -13, MUMBAI DATED 06.11.2009. THE GROUNDS RAISED IN THE APPEAL ARE IN RESPECT OF CHARGING OF INTEREST UNDER SECTION 234B & 234C O N INCOME ASSESSABLE UNDER SECTION 115JB OF THE ACT. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVER, A FTER CONSIDERING THE FACTS OF THE CASE I PROCEED TO DECIDE THE APPEA L ON MERITS. 3. THE INTEREST UNDER SECTION 234B & 234C CHARGED BY T HE ASSESSING OFFICER WHILE COMPUTING THE INCOME UNDER SECTION 11 5JB HAS BEEN DELETED BY THE CIT(A) FOLLOWING THE JUDGEMENT OF THE HON'BL E SUPREME COURT IN THE CASE OF KWALITY BISCUITS 285 ITR 434 (SC) AND THE J URISDICTIONAL HIGH COURTS JUDGEMENT IN THE CASE OF SNOW CEM INDIA LTD. 313 IT R 170 (MUM). IN THE GROUNDS OF THE APPEAL IT IS STATED THAT THE JUDGEME NTS ON WHICH THE CIT(A) RELIED UPON ARE DISTINGUISHABLE ON FACTS BUT THE RE VENUE HAS FAILED TO POINT OUT HOW THOSE JUDGEMENTS ARE DISTINGUISHABLE ON FAC TS. SINCE THE CIT(A) HAS FOLLOWED THE JUDGEMENT OF THE JURISDICTIONAL HIGH C OURT IN THE CASE SNOW ITA NO. 1991/MUM/2010 2 CEM INDIA LTD. 313 ITR 170, I DO NOT FIND ANY INFIR MITY IN THE ORDER OF THE CIT(A). THE ORDER OF THE CIT(A) IS CONFIRMED. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH JULY 2010. SD/- (A.L. GEHLOT) ACCOUNTANT MEMBER MUMBAI, DATED: 5 TH JULY 2010 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) XIII, MUMBAI 4. THE CIT VII, MUMBAI CITY 5. THE DR, SMC BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.