Sri Mahalakshmi Shares Pvt Ltd., CHENNAI V. ACIT, CHENNAI

ITA 527/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 90288 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-04-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2011-2012
• Appeal Filed On: 13-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N MADHAVAN IRS
• Assessee Lawyers: R T VIJAYA RAGHAVAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI , ! ' , # $% BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER & SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER ./ I.T.A. NO.527/MDS/2015 ( / ASSESSMENT YEAR : 2011-2012) SRI MAHALAKSHMI SHARES PVT. LTD, 85, ARMENIAN STREET, CHENNAI 600 001. [PAN:AAACS 9439G] ( &' /APPELLANT) VS THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(4), CHENNAI 600 034. ( '(&' /RESPONDENT) / APPELLANT BY : SHRI.R.T. VIJAYARAGHAVAN, C.A. / RESPONDENT BY : SHRI. N. MADHAVAN, IRS, JCIT. /DATE OF HEARING : 16.04.2015 /DATE OF PRONOUNCEMENT : 16.04.2015 ) / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL FILED BY ASSESSEE IS DIREC TED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-15, CHENNA I, DATED 23.12.2014. I.T.A.NO.527/MDS/2015. :- 2 -: 2. THE ONLY GRIEVANCE OF THE ASSESSEE IN THIS APPEAL I S WITH REGARD TO DISALLOWANCE OF COMMISSION PAYMENTS MADE TO SUB BROKERS U/S. 40A(IA) AND READ ALONG WITH SECTION 194H. 3. AFTER HEARING BOTH THE PARTIES, WE ARE OF THE OPINI ON THAT A SIMILAR ISSUE CAME UP FOR CONSIDERATION BEFORE THI S TRIBUNAL IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEAR 2009-20 10 IN ITA NO.351/MDS/2013 AND C.O.NO.47/MDS/2013. VIDE ORDER DATED 22.08.2013, THE TRIBUNAL HAS DECIDED THE ISSUE IN F AVOUR OF THE ASSESSEE BY OBSERVING AS UNDER:- 8. WE HAVE HEARD BOTH SIDES, PERUSED THE MATERIAL S ON RECORD AND HAVE GONE THROUGH THE ORDERS OF AUTHORITIES BELOW. IN THIS CASE, THE LD. CIT(APPEALS) HAS GIVEN A CATEGORICAL FINDINGS T HAT THE PROVISIONS OF SECTION 194H ARE NOT APPLICABLE TO ASSESSEES CA SE. THE LD. CIT(APPEALS) HAS GIVEN A SIMILAR FINDING FOR THE AS SESSMENT YEAR 2008-09 ALSO. THE DEPARTMENT HAS NOT PREFERRED ANY APPEAL AGAINST THE ORDER OF THE LD. CIT(APPEALS) FOR THE ASSESSMEN T YEAR 2008-09 AND THE LD. DR HAS FAIRLY SUBMITTED THAT THE DEPART MENT HAD ACCEPTED THE ORDER OF THE LD. CIT(APPEALS). IN VIEW OF THE ABOVE FACTS AND CIRCUMSTANCES OF THE CASE, WE FIND NO REA SON TO INTERFERE WITH THE ORDER PASSED BY THE LD. CIT(APPEALS) AND A CCORDINGLY, THE APPEAL FILED BY THE REVENUE IS DISMISSED. I.T.A.NO.527/MDS/2015. :- 3 -: 4. RESPECTFULLY, FOLLOWING THE ABOVE ORDER OF THE TRIB UNAL, WE ARE INCLINED TO DECIDE THE ISSUE IN FAVOUR OF THE ASSE SSEE. 5. IN RESULT, THE APPEAL OF THE ASSESSEE IN IT A NO.527/MDS/2015 IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIM E OF HEARING ON THURSDAY, THE 16 TH DAY OF APRIL, 2015 AT CHENNAI. SD/- SD/- ( ! ' ) (CHALLA NAGENDRA PRASAD) # / JUDICIAL MEMBER ( ) (CHANDRA POOJARI) / ACCOUNTANT MEMBER !' /CHENNAI. #$ /DATED:16.04.2015. KV $% &' (' /COPY TO: 1. ) APPELLANT 2. / RESPONDENT 3. * ( )/CIT(A) 4. * /CIT 5. '+, - /DR 6. ,. / /GF.