DCIT Non Corporate Circle 2, CHENNAI V. Kesari Sanjey Kundalia, CHENNAI

ITA 2115/CHNY/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 7913 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: misc
• Appeal Filed On: 09-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GURUBASHYAM JCITD R
• Assessee Lawyers: KARUNAKARAN
• Keywords: Earning of tax free income

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : CHENNAI , . , BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ I.T.A.NO.2115/CHNY/2018 / ASSESSMENT YEAR : 2014-15 THE DEPUTY COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE-2, CHENNAI. VS. SHRI KESARI SANJEY KUNDALIA , OLD NO.114,NEW NO.36, G.N.CHETTY ROAD,T.NAGAR, CHENNAI. [PAN APDPS 7301 G] ( / APPELLANT) ( /RESPONDENT) ! ' # / APPELLANT BY : MR.GURU BASHYAM,JCIT,D.R $% ! ' # /RESPONDENT BY : MR.KARUNAKARAN,ADVOCATE & ' ' () / DATE OF HEARING : 01 - 01 - 201 9 * ' () / DATE OF PRONOUNCEMENT : 01 - 01 - 201 9 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-2, CHENNA I IN ITA NO.218/2016-17/A.Y.2014-15/CIT(A)-2 DATED 16.05.201 8 FOR THE ASSESSMENT YEAR 2014-15. ITA NO.2115/CHNY/2018 :- 2 -: 2. MR.KARUNAKARAN REPRESENTED ON BEHALF OF THE ASSESSEE AND MR.GURU BASHYAM REPRESENTED ON BEHALF OF THE REVENUE. 3. IT WAS SUBMITTED BY LD.D.R THAT THE APPEAL WAS AGAINST THE ACTION OF LD.CIT(A) IN RESTRICTING THE DISALLOWANCE S MADE U/S.14A OF THE INCOME TAX ACT, 1961 READ WITH RULES 8D OF THE INCOME TAX RULES, 1962 TO THE EXTENT OF EXEMPT INCOME EARNED. IT WAS A SUBMISSION THAT THE LD.CIT(A) HAD FOLLOWED THE DECI SION OF THE CO-ORDINATE B BENCH OF CHENNAI TRIBUNAL IN ASSESS EE'S OWN CASE IN ITA NO.1515/MDS/2016 & 1666/MDS/2017 FOR ASSESSMENT YEARS 2012- 13 & 2013-14 DATED 21.12.2017 WHEREIN THE TRIBUNAL HAD FOLLOWED THE DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF JOINT INVESTMENT P. LTD. VS. CIT IN 372 ITR 694 (DELHI). IT WAS A SUBMI SSION THAT THE ORDER OF THE CIT(APPEALS) WAS LIABLE TO BE REVERSED. 4. IN REPLY, THE LD.A.R VEHEMENTLY SUPPORTED THE O RDER OF THE LD.CIT(APPEALS). 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. AS IT IS NOTICED THAT LD.CIT(A) HAS FOLLOWED THE DECISION OF CO-ORDI NATE BENCH OF THIS TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR S 2012-13 & 2013- ITA NO.2115/CHNY/2018 :- 3 -: 14 DATED 21.12.2017 WHEREIN THE TRIBUNAL HAD FOLLOW ED THE DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF JOINT INVES TMENT P. LTD. VS. CIT IN 372 ITR 694 (DELHI), WE FIND NO REASON TO IN TERFERE WITH THE ORDER OF THE CIT(APPEALS). CONSEQUENTLY, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 6. IN THE RESULT, THE APPEAL OF THE REVENUE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 01 JANUARY, 2019, AT CHENNAI. SD/ - SD/ - ( . ) (A.MOHAN ALANKAMONY) ! '# / ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) $ '# / JUDICIAL MEMBER - ' / CHENNAI . / DATED: 01 JANUARY, 2019. K S SUNDARAM / ' $(01 2 1( / COPY TO: 1 . ! / APPELLANT 4. & 3( / CIT 2. $% ! / RESPONDENT 5. 145 $(6 / DR 3. & 3( () / CIT(A) 6. 57 8' / GF