Sri. Pakirappa, V. DCIT,

ITA 54/BANG/2014

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 4871 (ITAT-BANGALORE)
• Duration Of Justice: 4 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-04-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 15-06-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 13-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SAPTARISHI BASU
• Section: 54; 10; 90

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER IT (TP) A NO S . 54 & 56/BANG/2014 ASSESSMENT YEAR S : 2009 - 10 JDA SOFTWARE INDIA PVT. LTD., [SINCE MERGED WITH JDA SOFTWARE PRIVATE LTD., ERSTWHILE I2 TECHNOLOGIES INDIA PVT. LTD.], # 132/133, DIVYASHREE TECHNOPOLIS, YAMALUR POST, OFF OLD AIRPORT ROAD BANGALORE 560 037. PAN: AAACI 7334Q VS. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), HYDERABAD. APP ELLANT RESPONDENT A PPELLANT BY : SHRI SAPTARISHI BASU, CA RE SPONDENT BY : MS. NEERA MALHOTRA, CIT(DR) DATE OF HEARING : 09 . 0 4 .201 8 DATE OF PRONOUNCEMENT : 13 . 0 4 .201 8 O R D E R PER SUNIL KUMAR YADAV, JUDICIAL MEMBER THESE APPEALS ARE PREFERRED BY THE ASSESSEE AGAINS T THE RESPECTIVE ORDER OF THE CIT(APPEALS). THE APPEALS WERE HEARD AND DISPOSED OF BY THE TRIBUNAL VIDE ITS ORDER DATED 21.09.2016. THEREAF TER MISCELLANEOUS APPLICATIONS WERE FILED ON THE GROUND THAT CERTAIN ISSUES RAISED BEFORE THE TRIBUNAL ARE NOT ADJUDICATED. THE MISCELLANEOUS AP PLICATIONS WERE ALSO DISPOSED OF BY THE TRIBUNAL VIDE ITS ORDER DATED 15 .01.2017. WHILE DISPOSING OF THE MISCELLANEOUS APPLICATIONS, THE TR IBUNAL HAS HELD THAT IT(TP)A NOS.54 & 56/BANG/2014 PAGE 2 OF 4 GROUND NO.9 IN IT(TP)A NO.54/BANG/2014 REMAINED TO BE ADJUDICATED. SIMILARLY, GROUND NOS.9 TO 11 IN IT(TP)A 56/BANG/20 14 ALSO REMAINED TO BE ADJUDICATED. THE TRIBUNAL ACCORDINGLY DIRECTED THA T BOTH THESE APPEALS BE LISTED FOR HEARING ON GROUND NO.9 IN IT(TP)A NO.54/ BANG/2014 AND GROUND NOS.9 TO 11 IN IT(TP)A 56/BANG/2014. ACCORDINGLY T HESE APPEALS ARE HEARD ON THESE LIMITED GROUNDS. IT(TP)A NO.54/BANG/2014 2. IN THIS APPEAL GROUND NO.9 RELATES TO NON-GRANT OF SET OFF OF ACCUMULATED MINIMUM ALTERNATE TAX (MAT) CREDIT. THE GROUND RAISED BY THE ASSESSEE IS EXTRACTED HEREUNDER:- THE LEARNED AO ERRED IN NOT GRANTING THE SET-OFF O F MAT CREDIT ENTITLEMENT AMOUNTING TO RS.3,011,586 BROUGHT FORWA RD FROM EARLIER YEARS AGAINST THE TAX PAYABLE UNDER THE NOR MAL PROVISIONS OF THE INCOME TAX ACT, 1961 (THE ACT). 3. DURING THE COURSE OF HEARING, THE LD. COUNSEL F OR THE ASSESSEE HAS CONTENDED THAT AFTER GIVING EFFECT TO THE ORDER OF THE TRIBUNAL, IF AN ASSESSED INCOME REQUIRES A CREDIT OF ACCUMULATED MA T, THE SAME BE ALLOWED IN ACCORDANCE WITH LAW. THIS ARGUMENT WAS NOT OBJECTED TO BY THE REVENUE. ACCORDINGLY, WE RESTORE THE MATTER TO THE AO WITH A DIRECTION TO ALLOW THE SET OFF OF MAT CREDIT ENTITLEMENT BROUGHT FORWARD FROM EARLIER YEARS TO TOTAL INCOME COMPUTED, CONSEQUENT TO THE O RDER OF THE TRIBUNAL IN ACCORDANCE WITH THE LAW. IT(TP)A NO.56/BANG/2014 4. IN THIS APPEAL, GROUND NOS.9 TO 11 REMAINED TO B E ADJUDICATED BY THE TRIBUNAL. FOR THE SAKE OF REFERENCE, WE EXTRACT GRO UND NOS.9 TO 11 AS UNDER:- IT(TP)A NOS.54 & 56/BANG/2014 PAGE 3 OF 4 9. SHORT CREDIT FOR TAXES DEDUCTED AT SOURCE (TDS ) THE LEARNED AO ERRED IN GRANTING SHORT CREDIT OF TA XES DEDUCTED AT SOURCE BY AN AMOUNT OF RS.1,746,675. 10. SHORT CREDIT OF ADVANCE TAX THE LEARNED AO ERRED IN GRANTING SHORT CREDIT TOWAR DS ADVANCE TAX TO THE EXTENT OF RS.43,450,000. 11. NON-GRANT OF RELIEF UNDER SECTION 90 OF THE ACT IN RESPECT OF CREDIT FOR TAXES PAID IN FOREIGN CURRENCY THE LEARNED AO ERRED IN NOT GRANTING THE RELIEF UN DER SECTION 90 OF THE ACT IN RESPECT OF TAXES PAID IN F OREIGN CURRENCY AMOUNTING TO RS.3,101,634. 5. IN THIS REGARD, THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT ASSESSEE IS NOT GIVEN THE CREDIT OF FULL TDS. THER EFORE, THE MATTER MAY BE RESTORED BACK TO THE AO TO GIVE FULL CREDIT OF TDS TO THE ASSESSEE. THE LD. DR DID NOT DISPUTE THIS FACTUAL ASPECT. ACCORDINGL Y WE DIRECT THE AO TO GIVE FULL CREDIT OF TDS IN ACCORDANCE WITH THE LAW AFTER MAKING DUE VERIFICATION. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED ON THESE GROUNDS FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON THIS 13 TH DAY OF APRIL, 2018. SD/- SD/- ( INTURI RAMA RAO ) ( SUNIL KUMAR YADAV ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 13 TH APRIL, 2018. / D ESAI S MURTHY / IT(TP)A NOS.54 & 56/BANG/2014 PAGE 4 OF 4 COPY TO: 1. APPELLANT 2. RESPONDE NT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY ITAT, BANGALORE.