Appeal details
Counselvise Citation
[2020] 110 COUNSELVISE.COM (IT) 1544 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
3 year(s) 4 month(s) 13 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
14-12-2020
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
E
Assessment Year
2011-2012
Appeal Filed On
01-08-2017
Judgement Text
1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI E BEN CH, NEW DELH I BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SH. KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) ITA NO.4907& 4909/DEL/2017 [A.Y 2009-10 & 2011-12] DCIT VS. M/S. MONTAGE ENTERPRISE PVT. CENTRAL CIRCLE-18, LTD., C-53, SHASHI GARDEN, N EAR NEW DELHI POCKET-5, GURUDWARA, MAYUR VIHAR, PHASE-1, NEW DELHI-110091 APPELLANT BY : MS. PRAMITA M. BISW AS, CIT (DR) RESPONDENT BY : SH. M. P. RASTOGI, ADVOCATE DATE OF HEARING : 14.12.2020 DATE OF PRONOUNCEMENT : 14. 12.2020 ORDER PER N. K. BILLAIYA , AM : ITA NO.4907/DEL/2017 AND 4909/DEL/2017 ARE TWO SEP ARATE APPEALS BY THE REVENUE PREFERRED AGAINST TWO SEPARATE ORDER S OF THE CIT(A)-29, NEW DELHI DATED 11.05.2017 PERTAINING TO A.Y.2009-1 0 AND 2011-12.1. 2 2. SINCE COMMON GROUNDS ARE INVOLVED IN BOTH THESE APPEALS, THOUGH, QUANTUM MAY DIFFER, BOTH THESE APPEALS WERE HEARD T OGETHER AND ARE BEING DISPOSED OF BY THIS COMMON ORDER AND BREVITY. 3. THE GRIEVANCE OF THE REVENUE IN A.Y. 2009-10 REA D AS UNDER :- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACT IN HOLDING THAT NO INTEREST BEARING FUNDS WERE USED BY THE ASSESSEE IN MAKING I NVESTMENT GIVING RISE TO TAX EXEMPT INCOME AND THUS RESTRICTING THE DISALLOWANCE U/S. 1 4A TO RS.35,78,530/- AGAINST THE DISALLOWANCE OF RS.2,51,751/- MADE BY THE AO IN ACC ORDANCE WITH THE PROVISIONS OF RULE 8D OF THE INCOME TAX RULES. 2. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN HOLDING THAT EXCISE DUTY REFUND OF RS.2,46,79,790/- IS ELIGIBLE FOR DEDUCTIO N U/S. 80 IB. 4. THE GRIEVANCE OF THE REVENUE IN A.Y. 2011-12 REA D AS UNDER :- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACT IN HOLDING THAT NO INTEREST BEARING FUNDS WERE USED BY THE ASSESSEE IN MAKING INVESTMENT GIVING RISE TO TAX EXEMPT INCOME AND THUS RESTRICTING THE DISALLOWANCE U/S. 1 4 A TO RS.82,66,124/- AGAINST THE DISALLOWANCE OF RS.1,06,79,240/- MADE BY THE AO IN ACCORDANCE WITH THE PROVISIONS OF RULE 8D OF THE INCOME TAX RULES. 3 2. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN HOLDING THAT EXCISE DUTY REFUND OF RS.2,80,82,949/- IS ELIGIBLE FOR DEDUCTION U/S. 80 IB. 5. AT THE VERY OUTSET THE COUNSEL FOR THE ASSESSEE STATED THAT IDENTICAL ISSUES WERE CONSIDERED BY THE TRIBUNAL IN ITA NOS. 5124/DEL/2011, 92/DEL/2012, 144/DEL/2013, 475/DEL/2013, 4426/DEL/2 013 AND 4986/DEL/2013 FOR A.Y. 2008-09, 2009-10 AND 2010-11 AND THE ORDER OF THE TRIBUNAL WAS FOLLOWED IN ITA NO.6963/DEL/2014 A ND 556/DEL/2014 FOR A.Y.2011-12 IN FAVOUR OF THE ASSESSEE AND AGAINST T HE REVENUE. THE DR FAIRLY CONCEDED TO THIS. 6. WE HAVE CAREFULLY CONSIDERED THE GRIEVANCE OF TH E REVENUE VIZ-A-VIZ THE ORDER OF THE COORDINATE BENCH (SUPRA). WE FIND FORCE IN THE CONTENTION OF THE COUNSEL. GRIEVANCE RAISED VIDE G ROUND NO.1 WHICH IS IN RESPECT OF DISALLOWANCE U/S. 14A, WE FIND THAT AN I DENTICAL ISSUE WAS CONSIDERED BY THE TRIBUNAL IN ASSESSEES OWN CASE I N ITA NO.6963/DEL/2014 VIDE GROUND NO.2 OF THAT APPEAL AN D GRIEVANCE RAISED VIDE GROUND NO.2 OF THE PRESENT APPEAL WAS CONSIDER ED BY THE TRIBUNAL IN REVENUES APPEAL IN ITA NO.556/DEL/2015 FOR A.Y.201 1-12 VIDE GROUND NO. 3 OF THAT APPEAL. 4 7. THE RELEVANT FINDINGS OF THE COORDINATE BENCH RE AD AS UNDER :- 5 6 8. RESPECTFULLY FOLLOWING THE FINDINGS OF THE COORD INATE BENCH WE DECLINE TO INTERFERE. GROUND NO.1 IS ACCORDINGLY D ISMISSED. 9. GROUND NO. 2 OF THE PRESENT APPEAL HAS BEEN CONS IDERED BY THE TRIBUNAL : 7 8 9 10 11 12 13 14 10. RESPECTFULLY FOLLOWING THE FINDINGS OF THE COOR DINATE BENCH (SUPRA). GROUND NO.2 IS ALSO DISMISSED. 11. IN THE RESULT, THE APPEALS FILED BY THE REVENUE ARE DISMISSED. 12. DECISION ANNOUNCED IN THE OPEN COURT IN THE PRE SENCE OF REPRESENTATIVES OF BOTH THE SIDES ON 14.12.2020. SD/- SD/- [KULDIP SINGH] [ N. K. BILLAIYA] JUDICIAL MEMBER ACCOUNTAN T MEMBER DATED: 14.12.2020 *NEHA* 15 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR ITAT, NEW DELHI DATE OF DICTATION 14.12.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS /PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOES TO THE ASSISTANT REGIST RAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER
