M/s. Super Auro India Ltd., New Delhi V. Addl. CIT, New Delhi

ITA 3434/DEL/2010

• Counselvise Citation: 343420114 RSA 2010
• Duration Of Justice: 1 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-01-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 04-01-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 14-07-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R S NEGI
• Assessee Lawyers: KUNAL NAGPAL; POONAM
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G NEW DELHI. BEFORE SHRI A.D. JAIN AND SHRI K.G. BANSAL I.T.A. NO. 3434(DEL)/2010 ASSESSMENT YEAR: 2007-08 M/S SUPER AUTO INDIA LIMITED, ADDIT IONAL COMMISSIONER OF 505, CHIRANJIV TOWER, VS. IN COME-TAX, RANGE-9, NEHRU PLACE, NEW DELHI. NE W DELHI. PAN: AAACS4903R (APPLICANT) (RESPONDENT) APPLICANT BY : MS. POONAM, ADVOCATE & SHRI KUNAL NAGPAL, ADVOCATE RESPONDENT BY: SHR I R.S. NEGI, D.R. DATE OF HEARIN G: 04.01.2012 DATE OF PRONOUN CEMENT: 04.01.2012. ORDER PER K.G. BANSAL : A.M THE ONLY SUBSTANTIVE GROUND TAKEN BY THE ASSESSEE IN THIS APPEAL IS THAT THE LD. CIT(APPEALS) ERRED ON FACTS AND IN LAW IN UPHOLDING THE ACTION OF THE AO IN DISALLOWING RS. 1,49,975/- U /S 14-A OF THE INCOME-TAX ACT, 1961, HOLDING THE SAME TO BE PERTAINING TO E XEMPT INCOME. 2. IT IS THE COMMON CASE OF BOTH THE PARTIES TH AT THE ISSUE STANDS COVERED BY THE DECISION OF G BENCH OF DELHI TR IBUNAL IN THE CASE OF THE ASSESSEE FOR ASSESSMENT YEAR 2006-07 IN ITA NO. 818(DEL)/2010 DATED ITA NO. 3434(DEL)/2010 2 23.12.2010, IN WHICH THE MATTER WAS RESTORED TO THE FILE OF THE AO FOR DECIDING THE ISSUE AFRESH AFTER MAKING FOLLOWING OBSERVATIONS:- 5. WE HAVE HEARD BOTH THE COUNSEL AND PERUSED THE RECORDS. WE FIND THAT HONBLE BOMBAY HIGH COURT IN THE CASE GODREJ BOYCE MFG. CO. LTD. VS. DCIT IN ITA NO. 626 OF 2010 234 CTR 1 HAS HELD THAT RULE 8 D HAS BEEN NOTIFIED ON 2 4.3.2008 AND WILL BE APPLICABLE ONLY FROM ASSESSMENT YEAR 20 08-09. THE HONBLE HIGH COURT HAS OVERRULED TRIBUNAL DECISION OF M/S DAGA CAPITAL MANAGEMENT P. LTD. ACCORDINGLY, RESPEC TFULLY FOLLOWING THE PRECEDENT, WE REMIT THE ISSUE TO THE FILES OF THE ASSESSING OFFICER TO QUANTIFY THE REASONABLE AMOUNT . WE MAKE IT CLEAR AS HELD BY THE HONBLE BOMBAY HIGH COURT, RULE 8D SHALL NOT BE APPLICABLE FOR THE ASSESSMENT YEAR 200 6-07. NEEDLESS TO ADD THAT THE ASSESSEE SHOULD BE GIVEN A DEQUATE OPPORTUNITY OF BEING HEARD. 2.1 FOLLOWING THIS DECISION, THE MATTER IS RESTO RED TO THE FILE OF THE AO TO DECIDE THE MATTER AFRESH AFTER AFFORDING THE ASSESSEE AN OPPORTUNITY OF BEING HEARD. 3. IN THE RESULT, THE APPEAL IS TREATED AS ALLOWE D FOR STATISTICAL PURPOSES. SD/- SD/- (A.D. JAIN) (K.G. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER SP SATIA COPY OF THE ORDER FORWARDED TO:- (I) M/S SUPER AUTO INDIA LTD., NEW DELHI. (II) ADDITIONAL CIT, RANGE-9, NEW DELHI. (III) CIT(A) (IV) CIT (V) THE D.R., ITAT, NEW DELHI. ASSISTANT REGISTRAR.