DDIT(IT) 3(1), MUMBAI V. GE ASSET MANAGEMENT INCORPORATED, MUMBAI

ITA 3976/MUM/2010

• Counselvise Citation: 397619914 RSA 2010
• Duration Of Justice: 1 year(s) 7 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 20-12-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 17-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V V SHASTRI
• Assessee Lawyers: FERESHTE P SETHNA; RAM KA KKAR
• Section: 244A

Judgement Text

IN THE INCOME TAX APPELLATE TRIB UNAL MUMBAI BENCHES G, MUMBAI BEFORE SHRI R.S.SYAL, AM AND SHRI D.K.AGARWAL, JM ITA NO.3976/MUM/2010 : ASST. YEAR 2006-2007 THE ADDL.DIRECTOR OF INCOME-TAX (IT) 3(1) MUMBAI. M/S.GE ASSET MANAGEMENT INCORPORATED A/C. GENERAL ELECTRIC PENSION TRUST, C/O.PRICEWATERHOUSE COOPER PVT. LTD., CAS, PWC HOUSE PLOT NO.18/A, GURU NANAK ROAD (STATION ROAD), BANDRA (WEST) MUMBAI 400 050. PAN : AAATG3740P. (APPELLANT) VS. (RESPONDENT) APPELLANT BY : SHRI V.V.SHASTRI RESPONDENT BY : SMT.FERESHTE P.SETHNA & SHRI RAM KA KKAR DATE OF HEARING : 20.12.2011 DATE OF PRONOUNCEMENT : 23.12.2011 O R D E R PER R.S.SYAL, AM : THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER PASSED BY THE COMMISSIONER OF INCOME-TAX (APPEALS) ON 10.02.2010 IN RELATION TO THE ASSESSMENT YEAR 2006-2007. 2. THE ONLY EFFECTIVE GROUND IS AS UNDER:- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CIT(A) ERRED IN ALLOWING INTEREST U/S 244A OF TH E ACT WHERE THE REFUND AROSE ON ACCOUNT OF SELF ASSESSMENT TAX WITH OUT APPRECIATING THAT THE WORDS IN ANY OTHER CASE OCC URRING IN SEC.244A(1)(B) CANNOT BE CONSTRUED TO INCLUDE SELF ASSESSMENT TAX WHEN IT WAS NOT SPECIFICALLY INCLUDED IN CLAUSE (A) OF SEC. 244A(1) OF THE ACT. 3. AT THE VERY OUTSET THE LEARNED COUNSEL FOR THE A SSESSEE CONTENDED THAT SIMILAR ISSUE CAME UP FOR ADJUDICATION BEFORE THE T RIBUNAL IN ASSESSEES OWN CASE IN RESPECT OF ASSESSMENT YEARS 1999-2000 AND 2 003-2004, WHICH DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE. COPY OF THE OR DER DATED 5 TH FEBRUARY, 2010 ITA NO.3976/MUM/2010. M/S.GE ASSET MANAGEMENT INCORPORATED A/C. 2 PASSED BY THE TRIBUNAL IN ITA NOS.3685 & 3686/MUM/2 009 WAS PLACED ON RECORD. THE LEARNED A.R. CONTENDED THAT THE FACTS A ND CIRCUMSTANCES OF THE EARLIER YEARS ARE SIMILAR TO THAT OF THE YEAR UNDER CONSIDERATION AND THE VIEW TAKEN BY THE TRIBUNAL IN ASSESSEES FAVOUR SHOULD B E UPHELD. THE LEARNED DEPARTMENTAL REPRESENTATIVE COULD NOT CONTROVERT TH IS SUBMISSION. IN THE ABSENCE OF SHOWING ANY DISTINCTION IN THE FACTS OF THE INSTANT YEAR VIS--VIS IN THE EARLIER YEARS ALREADY CONSIDERED AND DECIDED BY THE TRIBUNAL, RESPECTFULLY FOLLOWING THE PRECEDENT WE UPHOLD THE IMPUGNED ORDE R ON THIS SCORE. 4. IN THE RESULT, THE APPEAL IS DISMISSED. ORDER PRONOUNCED ON THIS 23 RD DAY OF DECEMBER, 2011. SD/- SD/- (D.K.AGARWAL) (R.S.SYAL) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI : 23 RD DECEMBER, 2011. DEVDAS* SD/- (R.K.PANDA) AM (NOMINATED) COPY TO : 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT CONCERNED 4. THE CIT(A)-X, MUMBAI. 5. THE DR/ITAT, MUMBAI. 6. GUARD FILE. TRUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, MUMBAI.