ACIT, CHENNAI V. M/s. Chola Business Services Ltd., CHENNAI

ITA 3105/CHNY/2016

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 5280 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 5 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 07-11-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 14A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . . . , ! .#$#%, ' !( BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER ./ ITA NO.3105/CHNY/2016 % *% / ASSESSMENT YEAR : 2012-13 THE ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(2), CHENNAI - 600 034. V. M/S CHOLA BUSINESS SERVICES LTD., NO.2, DARE HOUSE, NSC BOSE ROAD, PARRYS, CHENNAI - 600 001. PAN : AACCC 5400 D (,-/ APPELLANT) (./,-/ RESPONDENT) ,- 0 1 / APPELLANT BY : SHRI AR.V. SREENIVASAN, JCIT ./,- 0 1 / RESPONDENT BY : NONE 2 0 3' / DATE OF HEARING : 26.04.2018 45* 0 3' / DATE OF PRONOUNCEMENT : 26.04.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) -1, CHENNA I, DATED 16.08.2016 AND PERTAINS TO ASSESSMENT YEAR 2012-13. 2 I.T.A. NO.3105/CHNY/16 2. THE FIRST ISSUE ARISES FOR CONSIDERATION IS DISA LLOWANCE MADE BY THE ASSESSING OFFICER UNDER SECTION 14A OF THE I NCOME-TAX ACT, 1961 (IN SHORT 'THE ACT'). 3. WE HEARD SHRI AR.V. SREENIVASAN, THE LD. DEPARTM ENTAL REPRESENTATIVE. NO ONE APPEARED FOR THE ASSESSEE E VEN THOUGH THE NOTICE OF HEARING WAS SERVED ON IT. THE CIT(AP PEALS) FOUND THAT THE ASSESSEE HAS NOT RECEIVED ANY EXEMPTED INCOME O N MAKING INVESTMENT. THIS TRIBUNAL IS OF THE CONSIDERED OPI NION THAT WHEN THE ASSESSEE HAS NOT EARNED ANY EXEMPTED INCOME, IN VIE W OF THE JUDGMENT OF MADRAS HIGH COURT IN REDINGTON (INDIA) LTD. V. ADDL. CIT (2017) 77 TAXMANN.COM 257, THERE CANNOT BE ANY DISALLOWANCE. THEREFORE, THIS TRIBUNAL DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SA ME IS CONFIRMED. 4. THE NEXT ISSUE IS WITH REGARD TO EMPLOYEES CONT RIBUTION TOWARDS ESI. 5. ADMITTEDLY, THE ASSESSEE HAS NOT PAID THE AMOUNT WITHIN THE DUE DATE PRESCRIBED UNDER PROVIDENT FUND ACT. BUT, IT WAS THE FACT THAT THE ASSESSEE PAID THE CONTRIBUTION WITHIN THE DUE DATE FOR FILING RETURN UNDER SECTION 131(1) OF THE ACT. THEREFORE, THE CIT(APPEALS) 3 I.T.A. NO.3105/CHNY/16 HAS RIGHTLY ALLOWED THE CLAIM OF THE ASSESSEE. HEN CE, THIS TRIBUNAL DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SAME IS CONFIRMED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL, 2018 AT CHENNAI. SD/- SD/- ( ! .#$#% ) ( . . . ) (ABRAHAM P. GEORGE) (N.R.S. GANESAN) ' / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 7 /DATED, THE 26 TH APRIL, 2018. KRI. 0 .389 :9*3 /COPY TO: 1. ,- /APPELLANT 2. ./,- /RESPONDENT 3. 2 ;3 () /CIT(A)-1, CHENNAI 4. PRINCIPAL CIT, CHENNAI-1, CHENNAI 5. 9< .3 /DR 6. =% > /GF.