ACIT CIRCLE 2(3)(2), MUMBAI V. M/s. Sterling Holiday Resorts Ltd., CHENNAI

ITA 6084/MUM/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 9390 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 24-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N PADMANABHANLD
• Assessee Lawyers: VISWANATHANLD
• Section: 143(3); 73

Judgement Text

ITA NO.6084/MUM/2018 M/S. STERLING HOLIDAY RESORTS LTD. ASSESSMENT YEAR :2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI , , BEFORE HONBLE SHRI MANOJ KUMAR AGGARWAL, AM AND HONBLE SHRI RAVISH SOOD, JM ./ I.T.A. NO.6084/MUM/2018 ( / ASSESSMENT YEAR: 2010-11) A CIT - 2(3 )( 2 ) AAYKAR BHAVAN, ROOM NO.552, 5 TH FLOOR, M.K. ROAD MUMBAI -400 020. / VS. M/S. STERLING HOLIDAY RESORTS LTD. THOMAS COOK BUILDING DR. D.N. ROAD, FORT MUMBAI- 400 001. PERMANENT ACCOUNT NO. : AABCT - 7079 - G (NEW) / AADCS - 4841 - D(OLD) ( /APPELLANT ) : ( ! / RESPONDENT ) ASSESSEE BY : MR. VISWANATHAN-LD. AR REVENUE BY : MR. N. PADMANABHAN-LD. DR / DATE OF HEARING : 08/01/2020 / DATE OF PRONOUNCEMENT : 08/01/2020 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR [IN SHORT REFERRED TO AS AY] 2010-11 CONTEST THE ORDER OF LD. COMMIS SIONER OF INCOME- TAX (APPEALS)-6, MUMBAI, [IN SHORT REFERRED TO AS CIT(A)], APPEAL NO. CIT(A)-6/IT-121/2017-18 DATED 10/08/2018 ON FOLLOWING SOLE GROUND OF APPEAL: - WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS FAILED TO NOTE THAT HE RELIED UPON THE DECISION OF HONBLE BOMBAY HIGH COURT IN THE ITA NO.6084/MUM/2018 M/S. STERLING HOLIDAY RESORTS LTD. ASSESSMENT YEAR :2010-11 2 CASE OF CIT V/S HINDUSTAN UNILEVER LTD. (394 ITR 73 ) HAS NOT REACHED FINALITY AS THE DEPARTMENT HAS FILED SLP BEFORE THE HONBLE SUPREME COURT AGAINST THE SAID ORDER. 2. THE LEARNED AUTHORIZED REPRESENTATIVE FOR ASSESS EE (AR), AT THE OUTSET, DRAWING ATTENTION TO THE GROUND OF APPEAL, SUBMITTED THAT SPECIAL LEAVE PETITION (SLP) AGAINST THE DECISION OF HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT V/S HINDUSTAN UNILEVER LTD. (394 ITR 73) HAS ALREADY BEEN DISMISSED BY HONBLE APEX COURT IN SLP NO. 22381/2017 DATED 29/10/2018. THE COPY OF THE SAME HAS BEEN PLA CED ON RECORD. THE LD. DR COULD NOT CONTROVERT THE SAME. 3. IN THE ABOVE BACKGROUND, FACT ON RECORD WOULD ES TABLISH THAT THE ASSESSEE BEING RESIDENT CORPORATE ASSESSEE WAS ASSE SSED FOR YEAR UNDER CONSIDERATION U/S 143(3) R.W.S. 147 ON 18/12/ 2017 WHEREIN THE ASSESSEE WAS DENIED CARRY-FORWARD OF UNABSORBED DEP RECATION OF RS.572.16 LACS FOR AY 2000-01 & RS.1014.10 LACS FOR AY 2001-02 SINCE THE EXTANT PROVISIONS PREVAILING AT THAT TIME, DID NOT PROVIDE FOR CARRY FORWARD OF THE SAME BEYOND 8 YEARS. ACCORDINGLY, TH E SAME, IN THE OPINION OF LD. AO, COULD NOT BE CARRIED FORWARD BEY OND AY 2009-10. 4. UPON FURTHER APPEAL, LD. CIT(A), REVERSED THE ST AND OF LD.AO, KEEPING IN VIEW THE BINDING JUDICIAL PRECEDENT OF H ONBLE BOMBAY HIGH COURT IN CIT V/S HINDUSTAN UNILEVER LTD. (394 ITR 73). STILL AGGRIEVED, THE REVENUE IS IN FURTHER APPEAL BEFORE US. 5. UPON CAREFUL CONSIDERATION, WE FIND THAT LD. CIT (A) HAS MERELY FOLLOWED BINDING JUDICIAL PRECEDENT IN THE SHAPE OF CITED DECISION OF HONBLE BOMBAY HIGH COURT. THE SLP AGAINST THE SAID DECISION HAS ALREADY BEEN DISMISSED BY HONBLE APEX COURT VIDE S LP NO. 22381 OF 2017 DATED 29/10/2018 WHICH IS REPORTED AT [2018] 9 9 TAXMANN.COM 135 ITA NO.6084/MUM/2018 M/S. STERLING HOLIDAY RESORTS LTD. ASSESSMENT YEAR :2010-11 3 (SC) / [2018] 259 TAXMAN 218 (SC). THEREFORE, THE G ROUND OF REVENUE WOULD NOT SURVIVE. 6. IN THE RESULT, THE APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 08 TH JANUARY, 2020. SD/- SD/- (RAVISH SOOD) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 08/01/2020 SR.PS, JAISY VARGHESE ! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. !/ THE RESPONDENT 3. M ( ) / THE CIT(A) 4. M / CIT CONCERNED 5. VW #X, X, / DR, ITAT, M UMBAI 6. WZ[\ / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.