THE ACIT, Bhopal V. M/s M.P.Police Housing Corporation, Bhopal

ITA 673/IND/2013

• Counselvise Citation: 67322714 RSA 2013
• Duration Of Justice: 2 year(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 15-10-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 14-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Assessee Lawyers: JATIN SAHGAL
• Section: 43B

Judgement Text

M.P. POLICE HOUSING CORPORATION ITA 673 AND 674/IND/2013 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, HONBLE JUDICIAL MEMBER AND SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NOS. 673 & 674/IND/2013 A.YS. 2005-06 & 2006-07 ACIT 2(1) BHOPAL ::: APPELLANT VS M.P. POLICE HOUSING CORPORATION BHOPAL ::: RESPONDENT APPELLANT BY SHRI R.A. VERMA RESPONDENT BY SHRI SUMIT NEMA AND SHRI JATIN SAHGAL DATE OF HEARING 15.10.2015 DATE OF PRONOUNCEMENT 17.11.2015 O R D E R PER SHRI B.C. MEENA, AM THESE APPEALS FILED BY THE REVENUE EMANATE FROM THE ORDER OF THE LEARNED CIT(A), BILASPUR, CAMP AT BHO PAL, DATED 14.8.2013. M.P. POLICE HOUSING CORPORATION ITA 673 AND 674/IND/2013 2 2. THE ASSESSEE IS A GOVERNMENT CORPORATION WHEREIN MAJOR SHARE-HOLDING IS WITH THE GOVT. OF M.P. THE ASS ESSEE IS ENGAGED IN THE CONSTRUCTION OF RESIDENTIAL HOUSES AND ADMINISTRATIVE BUILDING FOR POLICE DEPARTMENT. THE FUN DS ARE RECEIVED FROM THE GOVERNMENT OR GOVERNMENT AGENCI ES FOR SPECIFIC SCHEMES. IN THESE APPEALS THE COMMON ISS UE INVOLVED IS REGARDING DELETION OF PART ADDITION MADE BY THE ASSESSING OFFICER BY INVOKING PROVISIONS OF SECTION 43B OF THE ACT. THIS DISALLOWANCE WAS MADE OUT OF THE INTERES T PAID BY THE ASSESSEE TO THE BANKS AND OTHER FINANCIAL INSTITUTIONS BY INVOKING PROVISIONS OF SECTION 43B OF THE ACT. 3. AFTER HEARING BOTH THE SIDES, WE FIND THAT THE LE ARNED CIT(A) HAS GRANTED RELIEF TO THE ASSESSEE ON THE BASIS DECISION OF THE TRIBUNAL IN THE ASSESSEES OWN CASE IN ITA NO. 348/IND/06 FOR THE ASSESSMENT YEAR 2003-04 DATED 29.3.2012. THE LEARNED DR DID NOT BRING TO OUR NOTI CE ANY M.P. POLICE HOUSING CORPORATION ITA 673 AND 674/IND/2013 3 DECISION OF ANY HIGHER AUTHORITY ON THIS ISSUE. SINCE THE LEARNED CIT(A) HAS GRANTED RELIEF ON THE BASIS DECISION OF THE TRIBUNAL IN THE ASSESSEES OWN CASE AND IN THE ABSEN CE OF ANY CONTRARY VIEW ON THIS ISSUE, WE FIND NO MERIT IN THESE APPEALS OF THE REVENUE. THEREFORE, BOTH THE APPEALS STAN D DISMISSED. 4. IN THE RESULT, THE APPEALS OF THE REVENUE STAND DISMISSED. PRONOUNCED IN OPEN COURT ON 17 TH NOVEMBER, 2015 SD SD (D.T. GARASIA) (B.C. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER 17 TH NOVEMBER, 2015 DN/- M.P. POLICE HOUSING CORPORATION ITA 673 AND 674/IND/2013 4