DCIT, CHENNAI V. M/s. Sterling Holiday Resorts (I) Ltd., CHENNAI

ITA 2956/CHNY/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 4604 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-05-2017
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 13-04-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 17-10-2016
• Court: TRIBUNAL
• Department Lawyers: SURPIYO PAL
• Assessee Lawyers: M VISWANATHAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI , . , BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER ./ ITA NO.: 2956/MDS/2016 / ASSESSMENT YEARS: 2010-11 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 6(2), CHENNAI 34. V. M/S. STERLING HOLIDAY RESORTS (I) LTD., NO.7, 3 RD CROSS STREET, KASTHURIBAI NAGAR, CHENNAI 20. PAN: AADCS4841D ( /APPELLANT) ( /RESPONDENT) /APPELLANT BY : SHRI SURPIYO PAL, JCIT /RESPONDENT BY : SHRI M/ VISWANATHAN, CA / DATE OF HEARING : 13.04.2017 / DATE OF PRONOUNCEMENT : 05.05.2017 / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER : THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS)-15, CHENNAI DATED 13.07.2016. 2. THE ONLY ISSUE IN THIS APPEAL IS WITH REGARD TO DELETION OF ADDITION OF ` 2,05,41,950/- TOWARDS DEFERRED REVENUE INCOME BY TH E LD.CIT(A). 2 I.T.A. NO.2956/MDS/2016 3. THE FACTS OF THE ISSUE ARE THAT THE ASSESSEE HA S SUBMITTED THAT THE AO HAS TAKEN THE FIGURE WRONGLY AT ` 2,05,41,950/- INSTEAD OF ` 1,62,90,081/- AS THE AO HAS NOT CONSIDERED THE SALE RETURNS. IT HAS ALSO RELIED UPON THE DECISION OF HONBLE ITAT C HENNAI IN ITS OWN CASE FOR ASSESSMENT YEARS 2002-03, 2006-07, 200 7-08 AND 2008-09 VIDE ITA NOS.471 TO 473 & 160/MDS./2012 DAT ED 30.08.2012. THE AO HAS STATED THAT THE ADDITION IS MADE SINCE AFORESAID ORDER HAS NOT BEEN ACCEPTED BY THE DEPARTMENT. ON APPEAL, LD.CIT(A) FOLLOWING DECISION OF TRIBUNAL CITED SUPRA IN ASSESSEE'S OWN CASE DIRECTED THE AO TO FOLLOW THE DIRECTIONS IN THE CASE CITED SUPRA AND DECIDED IN F AVOUR OF ASSESSEE. AGAINST THIS, THE REVENUE IS IN APPEAL BEFORE US. 4. AFTER HEARING BOTH THE PARTIES, WE ARE OF THE O PINION THAT SIMILAR ISSUE CAME FOR CONSIDERATION BEFORE THIS TR IBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2009-10 IN ITA NO.1345/MDS./2015 VIDE ORDER DATED 13.07.2016 WHERE IN HELD THAT:- 10. WE HAVE HEARD BOTH SIDES AND GONE THROUGH THE ORDERS OF AUTHORITIES BELOW. THE ASSESSING OFFICER MADE THE D ISALLOWANCE ONLY ON THE GROUND THAT SIMILAR ISSUE FOR EARLIER A SSESSMENT YEAR IS PENDING BEFORE THE HONBLE HIGH COURT. DURING THE C OURSE OF APPELLATE PROCEEDINGS, THE AR OF THE ASSESSEE FURNI SHED DECISION OF THE ITAT D BENCH CHENNAI IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEARS 2002-03, 2006-07, 2007-08 AND 2008 -09 IN ITA NOS. 471, 472, 473 & 60/MDS/2012 DATED 30.08.2012 W HEREIN ITAT ALLOWED THE CLAIM OF THE ASSESSEE TO DEFER THE INCOME IN THE SUBSEQUENT YEARS ON THE BASIS OF THE ITAT CHENNAI B BENCH 3 I.T.A. NO.2956/MDS/2016 (SPECIAL BENCH) IN THE CASE OF M/S MAHINDRA HOLIDAY S & RESORTS(INDIA) LTD. IN ITA NOS. 2412 TO 2416/MDS/200 5. BY FOLLOWING THE DECISION OF THE TRIBUNAL, THE LD. CIT (A) DIRECTED THE ASSESSING OFFICER TO DELETE THE ADDITION. THE LD. D R COULD FILE ANY DECISION HAVING REVERSED OR MODIFIED THE ORDERS OF THE TRIBUNAL. JUST BECAUSE, THE DEPARTMENT HAS FILED AN APPEAL AG AINST THE ORDER OF THE TRIBUNAL, WE CANNOT TAKE A DIFFERENT V IEW ON THIS ACCOUNT. THUS, WE CONFIRM THE ORDER PASSED BY THE L D. CIT(A) ON THIS ISSUE AND THE GROUND RAISED BY THE REVENUE IS DISMISSED. IN VIEW OF THE ABOVE ORDER OF TRIBUNAL AND ALSO PLA CING RELIANCE IN THE ORDER OF SPECIAL BENCH IN THE CASE OF M/S.MAHIN DRA HOLDIAY & RESORTS (INDIA) LTD., FOR ASSESSMENT YEARS 2002-03, 2006-07 TO 2008-09 IN ITA NOS.471, 472, 473 & 160/MDS./2012 DA TED 30.08.2012 WHEREIN THE SPECIAL BENCH OF TRIBUNAL AL LOWED THE CLAIM OF ASSESSEE TO DEFER THE INCOME, WE ARE INCLINED TO DISMISS THE GROUND TAKEN BY THE REVENUE. 5. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISS ED. ORDER PRONOUNCED ON 05 TH MAY, 2017 AT CHENNAI. SD/- SD/- ( . ) ( ) (G. PAVAN KUMAR) (CHANDRA POOJARI) /JUDICIAL MEMBER / ACCOUNTANT MEMBER /CHENNAI, /DATED, THE 05 TH MAY, 2017. K S SUNDARAM. /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( )/CIT(A) 4. /CIT 5. /DR 6. /GF.