SUDHIR S. MEHTA, MUMBAI V. ASST CIT CEN CIR 4(1), MUMBAI

ITA 2740/MUM/2017

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 9157 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-10-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 22-06-2017
• Assessment Year: 2012-2013
• Appeal Filed On: 17-04-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: DR P DANIEL
• Section: 234B; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM ITA NO. 2740 / MUM/20 17 ( ASSESSMENT YEAR : 2012 - 13 ) SHRI SUDHIR S. MEHTA 32, MADHULI 3 RD FLOOR, DR. A.B. ROAD, WORLI, MUMBAI 400 018 VS. ASST. CIT CEN CIR 4(1) AIR IN DIA BUILDING NARIMAN POINT MUMBAI - 400021 PAN/GIR NO. ABAPM4496R APPELLANT ) .. RESPONDENT ) ASSESSEE BY SHRI ASHWIN KASHINATH REVENUE BY DR. P. DANIEL DATE OF HEARING 05 / 10 /201 7 DATE OF PRONOUNCEME NT 16 / 10 /201 7 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) - 52, MUMBAI DATED 02/02/2017 IN THE MATTER OF ORDER PASSED U/S.143(3) R.W.S. 147 OF THE IT ACT. 2. ASSESSEE IS AGGRIEVED FOR DISALLOWANCE OF INTEREST EXPENDITURE. AT THE OUTSET LEARNED AR CONTENDED THAT BOTH THE ISSUES ARE COVERED BY THE DECISION OF THE TRIBUNAL IN ASSESSEES OWN CASE. LEARNED DR FAIRLY AGREED FOR THE SAME. 3 . I HAVE GONE THROUGH THE ORDER OF THE TRIBUNAL AND FOUND THAT T HIS ISSUE IS IDE NTICAL TO THE ISSUE DECIDED IN THE FOLLOWING CASES WHEREIN THE HON'BLE TRIBUNAL HAS SET ASIDE THE ISSUE TO THE FILE OF THE LD. CIT(A) ITA NO. 2740/MUM/2017 SHRI SUDHIR S. MEHTA 2 DEEPIKA MEHTA V. ACIT [ITA NO. 6831/MUM/2013] DATED 21.10.2015 FOR A.Y. 2009 - 10. SUDHIR S. MEHTA V. DCI T [ITA NO. 2452/MUM/2014] DATED 18.11.2016 FOR A.Y. 1995 - 96. 4 . RESPECTFULLY FOLLOWING THE ORDER OF THE TRIBUNAL, THE MATTER IS RESTORED BACK TO THE FILE OF THE CIT(A) FOR DECIDING AS PER DIRECTION GIVEN BY THE TRIBUNAL IN ASSESSEES OWN CASE FOR THE A.Y. 1995 - 96 VIDE ORDER DATED 18/11/2016. 5. NEXT GRIEVANCE ASSESSEE IS RELAT ING TO CHARGING OF INTEREST U/S.234A, 234B AND 234C. I FOUND THAT THIS ISSUE IS ALSO IDENTICAL TO THE ISSUE DECIDED IN THE FOLLOWING CASES WHEREIN THE HON'BLE TRIBUNAL HAS UPHELD TH E APPLICABILITY OF INTEREST U/S. 234A, 234B AND 234C IN THE CASE OF NOTIFIED ENTITIES FOLLOWING THE DECISION OF THE HON'BLE BOMBAY HIGH COURT IN THE CASE OF DIVINE HOLDINGS PVT. LTD. AND CASCADE HOLDINGS PVT. LTD. FOR THE PURPOSE OF CALCULATION, THE HON'BL E TRIBUNAL HAS SET ASIDE THE ISSUE TO THE FILE OF THE ASSESSING OFFICER TO COMPUTE INTEREST LIABILITY AFTER CONSIDERING THE AMOUNT TAXED DEDUCTIBLE AT SOURCE ON THE INCOME ASSESSED. SUDHIR S. MEHTA V. DCIT [ITA NO. 2452/MUM/2014] DATED 18.11.2016 FOR A.Y. 1995 - 96. DCIT V. RASILA S. MEHTA [ITA NO. 5870/MUM/2011] DATED 21.10.2015 FOR A.Y. 2003 - 04 6. RESPECTFULLY FOLLOWING THE ABOVE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE, THE MATTER IS RESTORED BACK TO THE FILE OF THE AO FOR REC OMPUTING THE INTEREST LIABILITY IN TERMS OF THE DIRECTION GIVEN BY THE TRIBUNAL IN ITS ORDER DATED 18/11/2016. ITA NO. 2740/MUM/2017 SHRI SUDHIR S. MEHTA 3 7. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED IN PART FOR STATISTICAL PURPOSES. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 16 / 10 /2017 S D/ - ( R.C.SHARMA ) ACCOUNTANT MEMBER MUMBAI ; DATED 16 / 10 /201 7 KARUNA SR. PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//