ULTRATECH CEMENT LTD, MUMBAI V. DCIT RG 2(2), MUMBAI

ITA 5056/MUM/2012

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0662 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-05-2015
• Appeal Filed By: Assessee
• Bench Allotted: F
• Next Hearing Date: 20-11-2014
• Assessment Year: 2004-2005
• Appeal Filed On: 08-08-2012
• Court: TRIBUNAL
• Department Lawyers: PAWAN KUMAR BATRA
• Keywords: Rectification of order
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI G.S PANNU, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA NOS. 5056 & 5057/MUM/2012 ASSESSMENT YEARS: 2004-05 & 2005-06 ULTRA TECH CEMENT LTD. AHURA CENTRE, B WING, 2 ND FLOOR, MAHAKALI CAVES RD. ANDHERI (E) MUMBAI 400 093 PAN:-AAACL 6442L VS. DCIT RANGE 2(2) MUMBAI (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI VIJAY MEHTA REVENUE BY : SHRI PAWAN KUMAR BATRA DATE OF HEARING : 06 .0 5 .2015 DATE OF PRONOUNCEMENT : 06 .05 .2015 O R D E R PER AMIT SHUKLA, JM: THE AFORESAID APPEALS HAVE BEEN FILED BY THE ASSES SEE, AGAINST THE ORDER OF THE EVEN DATE 13.06.2012 PASSED BY LD. CIT (A)-5, MUMBAI IN RELATION TO ORDER U/S 154 OF THE ACT FOR THE A.YS. 2004-05 & 2005-06. THE COMMON GROUNDS RAISED IN BOTH THE APPEALS ARE A S UNDER:- 1. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEAL) HAS ERRED BY NOT ADMITTING ADDITIONAL GROUND RAISED BY ASSESS EE COMPANY STAYING THAT ADDITIONAL GROUNDS DO NOT ARISE FROM T HE RECTIFICATION ORDER U/S 154 OF THE I.T. ACT PASSED BY DCIT. 2. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEAL), BASED ON THE AFORESAID GROUND HAS ERRED IN NOT GRANTING INTE REST ON DELAYED PAYMENT OF INTEREST ARISING ON REFUND U/S 2 44A TO THE APPELLANT FOR THE PERIOD FROM THE DATE OF THE ORDER OF HONBLE INCOME TAX APPELLATE TRIBUNAL, MUMBAI UPTO THE DATE OF ACTUAL DISBURSEMENT OF REFUND. ITA NOS. 5056 & 5057/MUM/2012 ASSESSMENT YEARS: 2004-05 & 2005-06 2 2. AT THE OUTSET, LEARNED COUNSEL SHRI VIJAY MEHTA SUBMITTED THAT GROUND NO. 2 IS NOT PRESSED AS AO HAS ALREADY ALLOW ED THE RELIEF. ACCORDINGLY, GROUND NO. 2 IS DISMISSED AS NOT PRESS ED. 3. AS REGARDS GROUND NO. 1, HE SUBMITTED THAT THE I SSUE RAISED IN THE ADDITIONAL GROUND BEFORE THE LD. CIT(A) WHICH HAS B EEN RAISED BEFORE THE TRIBUNAL ALSO, NOW STANDS COVERED AGAINST THE A SSESSEE BY THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF CI T VS. GUJARAT FLURO CHEMICALS. THE ASSESSEE, BEFORE THE LD. CIT(A) HAS RAISED THE ADDITIONAL GROUND THAT INTEREST ON INTEREST SHOULD BE GRANTED TO THE ASSESSEE FOR NON GRANTING OF INTEREST IN TIME. THE SAID ADDITION AL GROUND WAS RAISED ON THE UNDERSTANDING THAT HONBLE SUPREME COURT IN THE CASE OF SANDVIK ASIA LTD. VS. CIT REPORTED IN (2006) 280 ITR 643 HA S LAID DOWN THE PROPOSITION THAT INTEREST ON INTEREST SHOULD BE GIV EN. HOWEVER, THIS DECISION OF HONBLE SUPREME COURT HAS BEEN CONSIDER ED AND EXPLAINED BY THE HONBLE SUPREME COURT IN THE CASE OF CIT VS. GUJARAT FLURO CHEMICAL (SUPRA) AND HELD THAT NO SUCH INTEREST ON INTEREST CAN BE GIVEN. ACCORDINGLY, THE GROUND NO. 1 RAISED BY THE ASSESSEE IS DISMISSED. 3. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 6 TH DAY OF MAY, 2015. SD/- SD/- (G.S PANNU) (AMIT SHUKLA) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 06.05.2015 *SRIVASTAVA COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT(A) CONCERNED, MUMBAI THE DR D BENCH // TRUE COPY// BY ORDER ITA NOS. 5056 & 5057/MUM/2012 ASSESSMENT YEARS: 2004-05 & 2005-06 3 DY/ASSTT. REGISTRAR, ITAT, MUMBAI.