DDIT (IT) 3(1), MUMBAI V. OMAN INTERNATIONAL BANK S.A. O.G, MUMBAI

ITA 3154/MUM/2014

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 7754 (ITAT-MUMBAI)
• Duration Of Justice: 7 year(s) 3 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 05-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VODAL RAJ SINGH
• Assessee Lawyers: KUNAL VORA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , J BENCH MUMBAI BEFORE : SHRI M.BALAGANESH, A CCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA NO. 3154 /MUM/ 20 14 ( ASSESSMENT YEAR : 2008 - 09 ) DEPUTY DIRECTOR OF INCOME TAX - (IT) - 3(1) ROO M NO.136, 1 ST FLOOR SCINDIA HOUSE N M ROAD, BALLARD ESTATE, MUMBAI - 400 038 VS. DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) SAKHAR BHAWAN, GROUND FLOOR PLOT NO.230, BLOCK NO.III BACKBAY RECLAMATION, NARIMAN POINT, MUMBAI - 400 021 PAN/GIR NO. AAFCD3506L (APPELLANT ) .. (RESPONDENT ) ITA NO. 3431 /MUM/ 2014 ( ASSESSMENT YEAR : 2008 - 09 ) DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) SAKHAR BHAWAN, GROUND FLOOR PLOT NO.230, BLOCK NO.III BACKBAY RECLAMATION, NARIMAN POINT, MUMBAI - 400 021 VS. DEPUTY DIRECTOR OF INCOME TAX - (IT) - 3(1), 1 ST FLOOR, ROOM NO.114, SCINDIA HOUSE N.M. MARG, BALLARD ESTATE MUMBAI - 400 038 PAN/GIR NO. AAFCD3506L (APPELLANT ) .. (RESPONDENT ) ITA NO . 3154/MUM/2014 AND OTHER APPEALS DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) 2 CO NO.169/MUM/2015 (ARISING OUT OF ITA NO.315 4/MUM/2015) ( ASSESSMENT YEAR : 2008 - 09 ) DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) SAKHAR BHAWAN, GROUND FLOOR PLOT NO.230, BLOCK NO.III BACKBAY RECLAMATION, NARIMAN POINT, MUMBAI - 400 021 VS. DEPUTY DIRECTOR OF INCOME TAX - (IT) - 2(1 )(2), 1 ST FLOOR, ROOM NO.114, SCINDIA HOUSE N.M. MARG, BALLARD ESTATE MUMBAI - 400 038 PAN/GIR NO. AAFCD3506L (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI VODAL RAJ SINGH ASSESSEE BY SHRI KUNAL VORA DATE OF HEARING 30 / 08 /2021 DATE OF PRONOUN CEMENT 30 / 08 /202 1 / O R D E R PER BENCH : TH ESE CROSS APPEAL S IN ITA NO. 3154/MUM/2014, ITA MO.3431/MUM/2014 & CO NO.169/MUM/2015 FOR A.Y. 2008 - 09 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 15, MUMB AI IN APPEAL NO. CIT(A) - 15/ARR - 193/13 - 14 DATED 18/02/2014 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) R.W.S. 144C(13) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 09/02/2012 BY THE LD. JOINT DIRECTOR OF INCO ME TAX (INTERNATIONAL TAXATION), RANGE - 4, MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO . 3154/MUM/2014 AND OTHER APPEALS DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) 3 ITA NO.3431/MUM/2014 (A.Y.2008 - 09) & CO NO.169/MUM/2015 (A.Y.2008 - 09) 2. AT THE OUTSET, WE FIND THAT ASSESSEE HAS PLACED A LETTER DATED 27/08/2021 ON RECORD STATING THA T IT WISHES TO WITHDRAW ITS APPEAL IN ITA NO.3431/MUM/2014 AND CROSS OBJECTIONS IN CO NO.169/MUM/2015 CONSIDERING THE SMALLNESS OF AMOUNTS INVOLVED IN DISPUTE. THE ASSESSEE HAD ALSO SPECIFICALLY PLEADED THAT THE SAID WITHDRAWAL SHOULD NOT BE CONSTRUED AS A CCEPTANCE OF THE ADDITIONS MADE BY THE LD. AO AND SHALL NOT HAVE ANY PRECEDENCE VALUE FOR ANY OTHER ASSESSMENT YEAR. 3. CONSIDERING THE CONTENTIONS RAISED BY THE ASSESSEE VIDE ITS LETTER DATED 27/08/2021, WE PERMIT THE ASSESSEE TO WITHDRAW ITS APPEAL AND ITS CROSS OBJECTIONS CONSIDERING THE SMALLNESS OF THE AMOUNTS INVOLVED IN DISPUTE. WE ALSO CATEGORICALLY HOLD THAT THE SAID WITHDRAWAL SHALL NOT HAVE ANY PRECEDENCE VALUE FOR OTHER ASSESSMENT YEARS AND THE SAID WITHDRAWAL SHALL NOT BE CONSIDERED AS ACCEPTA NCE OF THE ADDITIONS MADE BY THE LD. AO. 4. ACCORDINGLY, THE APPEAL OF THE ASSESSEE TOGETHER WITH ITS CROSS OBJECTIONS ARE DISMISSED AS WITHDRAWN. ITA NO. 3154/MUM/2014 A.Y.2008 - 09 5. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT THIS REVENUE APPEAL IS TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEAL PREFERRED BY IT BEFORE THE TRIBUNAL IF THE TAX EFFECT ITA NO . 3154/MUM/2014 AND OTHER APPEALS DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) 4 ON THE DISPUTED ISSUES IS LESS THA N OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 6. RESPECTFULLY FOLLOWING THE SAID CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 7. INCASE, IF THE REVENUE IS ABLE T O PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FOR RECALLING OF THIS ORDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 8 . IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 9. IN THE RESULT, APPEAL OF THE ASSESSEE, CROSS OBJECTION OF THE ASSESSEE AND APPEAL OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN OPEN COUR T ON 30/08/2021 SD / - ( AMARJIT SINGH ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 30 / 08 / 2021 KARUNA , SR.PS ITA NO . 3154/MUM/2014 AND OTHER APPEALS DOHA BANK QSC, INDIA BRANCHES (SUCCESSOR TO HSBC BANK OMAN S.A.O.G.) 5 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI DATE INITIAL 1. DRAFT DICTATED ON 30/08/2021 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 30/08/2021 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM/AM 5. APP ROVED DRAFT COMES TO THE SR.PS/PS SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. FILE SENT TO THE BENCH CLERK SR.PS 8. DATE ON WHICH FILE GOES TO THE AR 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 10. DATE OF DISPATCH OF ORDER. 11. DICTATION PAD IS ENCLOSED 1. THE APPELLANT 2 . THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//