Universal Cables Limited, Kolkata V. D.C.I.T Cir - 6,kolkata., Kolkata

ITA 679/KOL/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 4890 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 1 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2016
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 03-05-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 01-04-2013
• Court: TRIBUNAL
• Department Lawyers: HARI SANKAR KUMAR LAL
• Assessee Lawyers: SANJAY BHAUMIK
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI M. BALAGANES H, AM] I.T.A NO.679/KOL/2013 ASSESSMENT YEAR: 2008-09 UNIVERSAL CABLES LIMITED VS. DEPUTY COMMISSION ER OF INCOME-TAX, (PAN:AAACU3547P) CIRCLE-6, KOLKATA. ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 03.05.2016 DATE OF PRONOUNCEMENT: 04.05.2016 FOR THE APPELLANT: SHRI SANJAY BHAUMIK, ADVOCATE FOR THE RESPONDENT: SHRI HARI SANKAR KUMAR LAL, CIT, DR ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT(A)-VI, KOLKATA VIDE APPEAL NO. 210/CIT(A)-VI/R-6/2010-11/KOL DATED 28.01.2013. ASS ESSMENT WAS FRAMED BY ADDL. CIT, RANGE-6, KOLKATA U/S. 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2008-09 VIDE HIS ORDER DATED 31 .12.2010. 2. AT THE OUTSET, IT IS NOTICED THAT WHILE ADJUDIC ATING MA NO. 19/KOL/2015 ARISING OUT OF THIS ITA NO. 679/KOL/2013, THE TRIBUNAL HAS RECALLED ITS ORDER QUA THE ADDITIONAL GROUND RAISED BY THE ASSESSEE VIDE ORDER DATED 20.11.2015. THE RELE VANT GROUND READS AS UNDER: THAT WITHOUT PREJUDICE TO GROUND NO. 5, THE LD. D CIT BE DIRECTED TO EXCLUDE A SUM OF RS.22,24,105/- BEING PAYMENT MADE ON ACCOUNT OF LEA VE LIABILITY DURING THE ASST. YEAR 2002-03 IN CASE THE DEPT.S APPEAL IS ALLOWED IN THEIR FAVOUR AND DEDUCTION FOR PROVISION MADE FOR LEAVE LIABILITY IS WITHDRAWN. 3. LD. COUNSEL FOR THE ASSESSEE IN VIEW OF THE ABOV E ADDITIONAL GROUND REGARDING LEAVE LIABILITY ARGUED THAT THIS ISSUE IS PENDING BEFORE HONBLE SUPREME COURT IN THE CASE OF EXIDE INDUSTRIES LTD. VS. UNION OF INDIA (2007) 292 ITR 4 70 (CAL) BUT HE FAIRLY CONCEDED THAT SUBSEQUENTLY HON'BLE SUPREME COURT HAS STAYED THIS JUDGMENT OF HON'BLE JURISDICTIONAL HIGH COURT VIDE ORDER 08-05-2009 BY FOLLOWING OBSERVATIO NS:- PENDING HEARING AND FINAL DISPOSAL OF THE CIVIL AP PEALS, DEPARTMENT IS RESTRAINED FROM RECOVERING PENALTY AND INTEREST WHICH HAS ACCRUED TILL DATE. I T IS MADE CLEAR THAT AS FAR AS THE OUTSTANDING INTEREST DEMAND AS OF DATE IS CONCERNED, IT WOULD B E OPEN TO THE DEPARTMENT TO RECOVER THAT AMOUNT IN CASE CIVIL APPEAL OF THE DEPARTMENT IS ALLOWED. WE FURTHER MAKE IT CLEAR THAT THE ASSESSEE WOULD, D URING THE PENDENCY OF THIS CIVIL APPEAL, PAY TAX AS IF SECTION 43B(F) IS ON THE STATUE BOOK BUT AT T HE SAME TIME IT WOULD BE ENTITLED TO MAKE A CLAIM I N ITS RETURNS. 2 ITA NO.679/KOL/2013 UNIVERSAL CABLES LTD. AY 2008-09 IN VIEW OF THE ABOVE, LD. COUNSEL FOR THE ASSESSEE FAIRLY STATED THAT LET HON'BLE SUPREME COURT DECIDE THE ISSUE AND BY THAT TIME THE MATTER CAN BE REMITTED BACK TO THE FILE OF AO FOR FRESH ADJUDICATION IN TERM OF THE DECISION OF HON'BLE SUP REME COURT. ON THIS, LD. CIT DR HAS NOT OBJECTED TO THE SAME. ACCORDINGLY, WE SET ASIDE TH IS ISSUE TO THE FILE OF THE AO TO AWAIT THE DECISION OF HON'BLE SUPREME COURT AND DECIDE THE IS SUE ACCORDINGLY. THIS ISSUE OF ASSESSEES APPEALS IS REMITTED BACK TO THE FILE OF AO AND ALLO WED FOR STATISTICAL PURPOSES. 4. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER IS PRONOUNCED IN THE OPEN COURT ON 04.05.201 6 SD/- SD/- (M. BALAGANESH) (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 4 TH MAY, 2016 JD. (SR. P.S.) COPY OF THE ORDER FORWARDED TO: 1. APPELLANT UNIVERSAL CABLES LIMITED, BIRLA BUILDI NG, 4 TH FLOOR, 9/1, R. N. MUKHERJEE ROAD, KOLKATA-700 001. 2. RESPONDENT- DCIT, CIRCLE-6, KOLKATA. 3. CIT(A) , KOLKATA 4. CIT , KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .