JCIT, New Delhi V. M/s. Marubeni India Pvt. Ltd., New Delhi

ITA 5152/DEL/2011

• Counselvise Citation: 515220114 RSA 2011
• Duration Of Justice: 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-01-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 19-01-2012
• Assessment Year: 2003-2004
• Appeal Filed On: 18-11-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R S NEGI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E NEW DELHI. BEFORE SHRI RAJPAL YADAV AND SHRI K.G. BANSAL I.T.A. NO.5152(DEL)/2011 ASSESSMENT YEAR: 2003-04 JOINT COMMISSIONER OF INCOME M/S MARUBENI INDIA PVT. LTD., TAX (OSD), CIRCLE 6(1), NEW DELHI. VS. 5 TH FLOOR, LOTUS TOWER, COMMUNITY CENTRE, NEW FRIENDS COLONY, NEW DELHI. (APPLICANT) (RESPONDENT) APPELLANT BY : SHRI R.S. NEGI, SR. DR RESPONDENT BY: SHR I RAJESH MALHOTRA, C.A. DATE OF HEARIN G: 19.01.2012 DATE OF PRONOUN CEMENT: 19.01.2012. ORDER PER K.G. BANSAL : A.M THE ONLY SUBSTANTIVE GROUND TAKEN BY THE REVENUE I N THIS CASE IS THAT THE LD. CIT(APPEALS) ERRED IN HOLDING THAT THE PROVISION CONTAINED IN SECTION 234D OF THE ACT IS PROSPECTIVE IN NATURE AND THE SAME IS APPLICABLE TO THE PROCEEDINGS OF ASSESSMENT YEAR 2004-05 AND ONWARDS, THEREFORE, IT IS NOT APPLICABLE TO THE YEAR UNDER CONSIDERATION BEING ASSESSMENT YEAR 2003-04. IT IS THE COMMON PLEADINGS FROM BOTH T HE SIDES THAT THE ISSUE STANDS COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF DIRECTOR INCOME-TAX VS. JACOB CIVIL ITA5152(DEL)/2011 2 INCORPORATED AND MITSUBISHI CORPORATION, (2010) 1 94 TAXMAN 495. RESPECTFULLY FOLLOWING THIS DECISION, IT IS HELD THAT THE INTEREST U/S 234D IS NOT CHARGEABLE IN THIS CASE FOR THIS YEAR. 2. IN THE RESULT, THE APPEAL IS DISMISSED. SD/- SD/- (RAJPAL YADAV) (K.G. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER 19/01/2012. SP SATIA COPY OF THE ORDER FORWARDED TO:- MARUBENI INDIA PVT. LTD., NEW DELHI. JOINT CIT, CIRCLE 6(1), NEW DELHI. CIT(A) CIT, THE D.R., ITAT, NEW DELHI. ASSISTANT REGISTRAR.