Lumina Datamatics Limited, CHENNAI V. ITO Corporate Ward 4(3), CHENNAI

ITA 2769/CHNY/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 2043 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-06-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 26-09-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: MRS D ROHINI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI , . , & BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ ITA NO.2769/CHNY/2018 /ASSESSMENT YEAR: 2014-15 M/S.LUMINA DATAMATICS LTD., 12 TH FLOOR, PHASE-II CREST, INTL. TECH PARK, CSIR ROAD, TARAMANI, CHENNAI-600 113. [PAN: AABCL 3918 Q] VS. THE INCOME TAX OFFICER, CORPORATE WARD-4(3), CHENNAI-34. ( ( /APPELLANT) ( )*( /RESPONDENT) ( + / APPELLANT BY : MR.SP.CHIDAMBARAM, ADV. )*( + /RESPONDENT BY : MRS.D.ROHINI, JCIT + /DATE OF HEARING : 18.06.2019 + /DATE OF PRONOUNCEMENT : 18.06.2019 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-8, CHENNAI, IN ITA NO.327/16-17 DATED 20.07.2018 FOR THE AY 2014-15. 2. MRS.D.ROHINI, JCIT, REPRESENTED ON BEHALF OF THE REVENUE AND MR. SP.CHIDAMBARAM, ADV., REPRESENTED ON BEHALF OF THE ASSESSEE. 3. AT THE TIME OF HEARING, IT WAS SPECIFICALLY SUBM ITTED THAT THE LD.CIT(A) HAS NOT ADJUDICATED THE GROUNDS RAISED BY THE ASSESSEE IN ITA NO.2769/CHNY/2018 :- 2 -: RESPECT OF PART OF GROUND NO.3 AND THE ENTIRETY OF GROUND NO.4. IT WAS A SUBMISSION THAT IN RESPECT OF GROUND NO.3 BEFORE TH E LD.CIT(A) BEING AGAINST THE CONVERSION OF DEBENTURES TO EQUITY SHAR ES HELD AS TAXABLE U/S.56(2)(VIIB) OF THE ACT, IT WAS A SUBMISSION THA T THE LD.CIT(A) HAS GIVEN HIS FINDINGS IN RESPECT OF THE COMPANY M/S.J. M FINANCIAL TRUSTEE CO. PVT. LTD., BUT NO DECISION HAD BEEN GIVEN IN RESPEC T OF THE INDIVIDUALS SHRI SIVAKAMESWARI V. NARAYANAN AND SHRI KAPILANANDAN VI SWANATHAN. IT WAS A FURTHER SUBMISSION THAT THERE WAS NO ADJUDICATION IN RESPECT OF GROUND NO.4 BEFORE THE LD.CIT(A) IN RESPECT OF DISALLOWANC E U/S.79 OF THE ACT. IT WAS A SUBMISSION THAT THE ISSUES IN THIS APPEAL MAY BE RESTORED TO THE FILE OF THE LD.CIT(A) FOR ADJUDICATION. 4. IN REPLY, THE LD.DR ADMITTED THAT THE SAID GROUN DS HAD NOT BEEN ADJUDICATED. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. 6. AS IT IS NOTICED THAT PART OF GROUND NO.3 BEFORE THE LD.CIT(A) IN RESPECT OF INDIVIDUALS AND IN RESPECT OF GROUND NO. 4 BEFORE THE LD.CIT(A) HAVE NOT BEEN ADJUDICATED. CONSEQUENTLY, THE ISSUES IN THIS APPEAL ARE RESTORED TO THE FILE OF THE LD.CIT(A) FOR RE-ADJUDI CATION OF THE GROUNDS ON MERITS INCLUDING THE ENTIRETY OF GROUND NOS.3 & 4. ITA NO.2769/CHNY/2018 :- 3 -: 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON THE 18 TH DAY OF JUNE, 2019, IN CHENNAI. SD/- SD/- ( . ) ( S. JAYARAMAN ) /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) /JUDICIAL MEMBER /CHENNAI, 2 /DATED: 18 TH JUNE, 2019. TLN + )34 54 /COPY TO: 1. ( /APPELLANT 4. 6 /CIT 2. )*( /RESPONDENT 5. 4 ) /DR 3. 6 ( ) /CIT(A) 6. /GF