DCIT 1(1), MUMBAI V. GEETANJALI WOOOLENS P LTD, MUMBAI

ITA 5256/MUM/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 62171 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-04-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 20-02-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 25-06-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K NAYAK
• Section: 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'G' BENCH, MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA NO. 5256/MUM/2010 (ASSESSMENT YEAR: 2006-07) D C I T - 1(1) M/S. GEETANJALI WOOLENS P. LTD. ROOM NO. 579, AAYAKAR BHAVAN 1-B, COURT CHAMBERS M.K. ROAD, MUMBAI 400020 VS. NEW MARINE LINES, MUMBAI 400020 PAN - AAACG 3706 G APPELLANT RESPONDENT APPELLANT BY: SHRI A.K. NAYAK RESPONDENT BY: NONE DATE OF HEARING: 10.04.2012 DATE OF PRONOUNCEMENT: 10.04.2012 O R D E R PER D. MANMOHAN, V.P. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE CIT(A) I, MUMBAI DATED 26.02.2010 AND IT PERTAINS TO A.Y. 2006-07. 2. FOLLOWING GROUNDS WERE URGED BY THE REVENUE: - 1. WHETHER ON THE FACTS AND THE CIRCUMSTANCES OF T HE CASE, AND IN LAW THE CIT(A) ERRED IN DIRECTING TO DELETE THE ADD ITION OF RS.1,55,339/- ON ACCOUNT OF DELAYED PAYMENT OF EMPL OYEES CONTRIBUTION FOR THE MONTH OF OCTOBER, 2005 WHICH H AS BEEN MADE BEYOND THE GRACE PERIOD. 2. THE LD. CIT(A) HAS FURTHER ERRED IN DIRECTING TH E AO TO RECOMPUTE THE DEDUCTION U/S. 10B BY CONSIDERING THE REVISED C OMPUTATION FILED BY THE ASSESSEE. 3. AS REGARDS THE FIRST ISSUE, THE ITAT MUMBAI BENCH H AS BEEN CONSISTENTLY TAKING A VIEW, IN THE LIGHT OF THE DEC ISION OF THE HON'BLE APEX COURT IN THE CASE OF CIT VS. ALOM EXTRUSIONS LTD. 3 19 ITR 306, THAT EVEN IF THERE IS A DELAYED PAYMENT THE SAME DOES NOT CALL F OR DISALLOWANCE SO LONG AS THE AMOUNT IS PAID BEFORE THE DUE DATE FOR FILIN G THE RETURN OF INCOME. THE ITA NO. 5256/MUM/2010 M/S. GEETANJALI WOOLENS P. LTD. 2 LEARNED CIT(A) HAVING APPLIED THE DECISION OF THE H ON'BLE APEX COURT, WE DO NOT FIND ANY INFIRMITY IN THE VIEW TAKEN BY THE LEA RNED CIT(A). 4. AS REGARDS GROUND NO. 2, THE LEARNED CIT(A) OBSERVE D THAT IDENTICAL ISSUE HAS COME UP IN ASSESSEES OWN CASE FOR ASSESS MENT YEARS 2003-04 AND 2005-06 WHEREIN THE MATTER WAS DECIDED IN FAVOUR OF THE ASSESSEE. IT WAS ALSO STATED THAT FOR A.Y. 2004-05 THE AO HAS ACCEPT ED THE REVISED WORKING SUBMITTED BY THE ASSESSEE. ACCORDINGLY THE AO WAS D IRECTED TO RECOMPUTE THE DEDUCTION UNDER SECTION 10B BY CONSIDERING THE REVISED COMPUTATION FILED BY THE ASSESSEE. 5. THE LEARNED D.R. RELIED UPON THE ORDER OF THE AO. H OWEVER, IT IS NOT DISPUTED THAT IDENTICAL ISSUE WAS CONSIDERED BY THE AO IN FAVOUR OF THE ASSESSEE FOR A.Y. 2004-05. 6. HAVING REGARD TO THE CIRCUMSTANCES OF THE CASE WE D O NOT FIND ANY INFIRMITY IN THE ORDER OF THE LEARNED CIT(A) ON THI S ASPECT. WE, THEREFORE, REJECT GROUND NO. 2 ALSO OF THE REVENUE. 7. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 10 TH APRIL 2012. SD/- SD/- (N.K. BILLAIYA) (D. MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATED: 10 TH APRIL 2012 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) I, MUMBAI 4. THE CIT I, MUMBAI CITY 5. THE DR, G BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.