DCIT ,Circle-3(1)(1), Ahmedabad V. M/s. Navdurga Voyage Pvt.Ltd., Ahmedabad

ITA 30/AHD/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 1161 (ITAT-AHMEDABAD)
• Duration Of Justice: 8 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 02-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LALIT P JAIN
• Keywords: Earning of tax free income
• Section: 143(3); 14A

Judgement Text

ITA NO. 30/AHD/2018 DCIT VS. NAVDURGA VOYAGE PVT LTD ASSESSMENT YEAR: 2014-15 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR, AM AND MS. MADHUMITA ROY, JM] ITA NO. 30/AHD/2018 ASSESSMENT YEAR: 2014-15 DY. COMMISSIONER OF INCOME-TAX .............. ....APPELLANT CIRCLE-3(1)(1), AHMEDABAD VS. NAVDURGA VOYAGE PVT LTD ...........................RESPONDENT C-51, SAMKETT-II, OPP. CHANDAN PARTY PLOT, RAMDEVNAGAR, SATELLITE, AHMEDABAD [PAN : AACCN 9698 J] APPEARANCES BY: LALIT P JAIN, FOR THE APPELLANT NONE, FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : 06.09.2018 DATE OF PRONOUNCING THE ORDER : 18.09.2018 O R D E R PER PRAMOD KUMAR, AM: 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE LEARNED CIT(A)-7, AHMEDABADS ORDER DATED 13 TH OCTOBER 2017, IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME-TAX A CT, 1961, FOR THE ASSESSMENT YEAR 2014-15. 2. THE GRIEVANCES RAISED BY THE APPELLANT ARE AS FO LLOWS:- 1. THE CIT(A) HAS ERRED IN LAW & FACTS IN DELETING THE ADDITION U/S 14A OF RS.2,06,12,915/- RELYING ON DECISION OF GUJARAT HIG H COURT IN THE CASE OF CIT V/S. CORRTECH ENERGY PVT LTD. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. COMMISSIONER OF INCOME-TAX (A) OUGHT TO HAVE UPHELD THE ORDER OF TH E ASSESSING OFFICER IN RESPECT OF ABOVE ISSUES.' 3. NONE APPEARED FOR THE ASSESSEE, BUT WE HAVE HE ARD THE LEARNED DEPARTMENTAL REPRESENTATIVE, PERUSED THE MATERIAL O N RECORD AND DULY CONSIDERED FACTS OF THE CASE IN THE LIGHT OF APPLICABLE LEGAL POSITION. 4. TO ADJUDICATE ON THIS APPEAL, IT IS SUFFICIENT T O TAKE NOTE OF THE FACT THAT, ADMITTEDLY, THERE WAS NO DIVIDEND INCOME IN THE REL EVANT PREVIOUS YEAR, AND, THAT AS ITA NO. 30/AHD/2018 DCIT VS. NAVDURGA VOYAGE PVT LTD ASSESSMENT YEAR: 2014-15 PAGE 2 OF 2 HELD BY THE HONBLE JURISDICTIONAL HIGH COURT IN TH E CASE OF CIT VS CORRTECH ENERGY PVT LTD [(2015) 372 ITR 97 (GUJ)], THERE CANNOT BE ANY DISALLOWANCE UNDER SECTION 14A IN CASE OF THERE BEING NO TAX EXEMPT INCOME IN THE RELEVANT PREVIOUS YEAR. IT WAS FOR THIS SHORT REASON THAT THE IMPUGNED DISALLO WANCE OF RS.2,06,12,915/- WAS DELETED BY THE LEARNED CIT(A). 5. LEARNED DEPARTMENTAL REPRESENTATIVE FAIRLY ACCEP TS THAT THE ISSUE IS COVERED, IN FAVOUR OF THE ASSESSEE, BY THE HONBLE JURISDICT IONAL HIGH COURTS JUDGMENT IN THE CASE OF CORRTECH ENERGY PVT LTD (SUPRA), BUT RELIED ON THE STAND OF THE ASSESSING OFFICER NEVERTHELESS. 6. WE SEE NO REASONS TO TAKE ANY OTHER VIEW OF THE MATTER THAN THE VIEW TAKEN IN THE BINDING JUDICIAL PRECEDENT RENDERED BY THE HON BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CORRTECH ENERGY PVT LTD (SUPRA). RESPECTFU LLY FOLLOWING THE SAME, WE CONFIRM THE ACTION OF THE CIT(A) AND DECLINE TO INT ERFERE IN THE MATTER. 7. IN THE RESULT, APPEAL IS DISMISSED. PRONOUNCE D IN THE OPEN COURT TODAY ON THE 18 TH SEPTEMBER, 2018 SD/- SD/- MS. MADHUMITA ROY PRA MOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) AHMEDABAD, THE 18 TH DAY OF SEPTEMBER, 2018 **BT COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD 1. DATE OF DICTATION: ..17.09.2018................ ... 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER: .. 18.09.2018..... 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR . P.S./P.S.: 18.09.2018.. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT: . . 18.09.2018 5. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK : . . 18.09.2018. 6. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK : . 7. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER : . 8. DATE OF DESPATCH OF THE ORDER: ......