DCIT, New Delhi V. M/s Ericsson India Pvt. Ltd., New Delhi

ITA 5389/DEL/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 3879 (ITAT-DELHI)
• Duration Of Justice: 5 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 23-05-2011
• Assessment Year: 2001-2002
• Appeal Filed On: 01-12-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: Y KAKKAR
• Assessee Lawyers: JATIN JINDAL
• Section: 234B

Judgement Text

ITA NO. 5389/DEL/2010 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B NEW DELHI BEFORE SHRI A.D. JAIN, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER I.T.A. NO. 5389/DEL/2010 A.Y. : 2001-02 DCIT, CIRCLE 11(1), ROOM NO. 312, C.R. BUILDING, NEW DELHI VS. M/S ERICSSON INDIA PVT. LTD., 4 TH FLOOR, DHAKA HOUSE, 18/17, WE HAVE HEARD BOTH THE COUNSELS AND PERUSED THE RECORDS. PUSA LANE, KAROL BAGH, NEW DELHI (PAN/GIR NO. : AAACE0138N) (APPELLANT ) (APPELLANT ) (APPELLANT ) (APPELLANT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) ASSEESSEE BY : SH. JATIN JINDAL, CA DEPARTMENT BY : MS. Y. KAKKAR, SR. D.R. ORDER ORDER ORDER ORDER PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) DATED 21.9.2 010PERTAINING TO ASSESSMENT YEAR 2001-02. 2. THE ISSUE RAISED IS THAT LD. COMMISSIONER OF INCO ME TAX (APPEALS) ERRED IN ALLOWING THE MAT CREDIT OF ` 56, 48,510/- FOR THE PURPOSE OF COMPUTING INTEREST U/S 234B OF IT ACT AND CONSIDERING THE MAT CREDIT AS EQUIVALENT OF THE ADVANCE TAX. 3. IN THIS CASE, ASSESSING OFFICER HAS CALCULATED INTEREST U/S 234A WITHOUT GIVING THE MAT CREDIT. 4. UPON ASSESSEES APPEAL LD. COMMISSIONER OF INCOME TAX (APPEALS) DECIDED THE ISSUE IN FAVOUR OF THE ASSESS EE, FOLLOWING THE ITA NO. 5389/DEL/2010 2 DECISION OF THE HONBLE DELHI HIGH COURT IN THE CAS E OF C.I.T. VS. JINDAL EXPORTS LTD. 314 ITR 137. 5. AGAINST THIS ORDER THE REVENUE IS IN APPEAL BEFO RE US. 6. WE HAVE HEARD THE BOTH THE COUNSEL AND PERUSED T HE RECORDS. AT THE OUTSET, LD. COUNSEL OF THE ASSESSEE CONTENDED T HAT THE ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION O F THE HONBLE APEX COURT IN THE CASE OF C.I.T. VS. TULSYAN NEC LTD. 3 30 ITR 226 (SC). IN THIS CASE IT WAS HELD THAT MINIMUM ALTERNATE TAX (MAT ) CREDIT ADMISSIBLE IN TERM OF SECTION 115AA OF THE INCOME TAX ACT, 1961, HAS TO BE SET OFF AGAINST THE ASSESSED TAX PAYABLE, BEF ORE CALCULATING INTEREST U/S 234A, 234B AND 234C. 7. RESPECTFULLY FOLLOWING THE PRECEDENT, WE UPHOLD THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) AND DECIDE THE ISSUE IN FAVOUR OF THE ASSESSEE. 8. IN THE RESULT, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23/5/2011 UPO N CONCLUSION OF HEARING. SD/- SD/- [ [[ [A.D. A.D. A.D. A.D. JAIN JAIN JAIN JAIN] ]] ] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATE 23/5/2011 SRB COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: - -- - 1. APPELLANT 2. RESPONDENT 3.CIT 4.CIT (A) 5. DR, IT AT TRUE COPY BY ORDER, DEPUTY REGISTRAR, ITAT, DELHI BENCHES