GLAXO SMITHKLINE PHARMACEUTICALS LTD, MUMBAI V. ASST CIT 6(3), MUMBAI

ITA 7166/MUM/2014

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 0051 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-01-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 21-10-2016
• Assessment Year: 1995-1996
• Appeal Filed On: 01-12-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K B VISPUTEDR
• Assessee Lawyers: NIRAJ SETHAR
• Section: 244A

Judgement Text

ITA/7166/M/14-GLAXO SMITHKLINE 1 , , , , INCOME-TAX APPELLATE TRIBUNAL -GBENCH MUMBAI , ,, , , , , , , ,, , BEFORE S/SHRI RAJENDRA,ACCOUNTANT MEMBER AND RAM LAL NEGI,JUDICIAL MEMBER / ITA NO.7166&7167/MUM/2014 , /ASSESSMENT YEAR-1995-96 & 1996-97 GLAXO SMITHKLINE PHARMACEUTICALS LIMITED, GSK HOUSE, DR. ANNIE BESANT ROAD, WORLI,MUMBAI-400 030. PAN:AAACG 4414 B VS. ACIT-6(3) 522, 5TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI-400 020. REV ENUE BY: SHRI K.B. VISPUTE-DR ASS ESSEE BY: SHRI NIRAJ SETH-AR / DATE OF HEARING: 21.10.2016 / DATE OF PRONOUNCEMENT: 04.01.2017 ,1961 254(1) ORDER U/S.254(1)OF THE INCOME-TAX ACT,1961(ACT) PER BENCH: CHALLENGING THE ORDERS,DATED 15/09/2014 OF THE CIT (A)-12, MUMBAI,THE ASSESSEE -COMPANY HAS RAISED VARIOUS GROUNDS OF APPEAL FOR THE ABOVE- MENTIONED TWO ASSESSMENT YEARS (AY.S.). BRIEF FACTS. 2. IN PURSUANT TO THE ORDER OF THE TRIBUNAL, DATED 23/ 12/201, THE ASSESSING OFFICER (AO) REVISED THE COMPUTATION OF INCOME OF THE ASSESSEE F OR BOTH THE YEARS. THERE WAS NO DISPUTE AS FAR AS THE COMPUTATION OF INCOME IS CONCERNED. HOWE VER, THE ASSESSEE HAD GRIEVANCE ABOUT WORKING OUT OF INTEREST UNDER SECTION 244A OF THE A CT. 3. DURING THE COURSE OF HEARING BEFORE US, THE AUTHORI SED REPRESENTATIVE(AR) OF THE ASSESSEE STATED THAT CONSIDERING THE SMALLNESS OF THE TAX EF FECT, THE ASSESSEE IS NOT INTERESTED IN PURSUING THE MATTERS FOR THE ABOVE-MENTIONED TWO YE ARS ONLY. THE DEPARTMENTAL REPRESENTATIVE(DR) LEFT THE ISSUE TO THE DISCRETION OF THE BENCH. AS THE ASSESSEE HAS NOT PRESSED THE GROUNDS OF APPE AL,RAISED BY IT,FOR THE ABOVE-MENTIONED TWO AY.S ,BECAUSE OF THE SMALLNESS OF THE TAX EFFEC T.SO,SAME STAND DISMISSED AS NOT PRESSED. AS A RESULT APPEALS OF THE ASSESSEE FOR BOTH THE AY.S STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 04 TH JANUARY, 2017. 04 , 2017 ITA/7166/M/14-GLAXO SMITHKLINE 2 SD/- SD/- ( / RAM LAL NEGI ) ( / RAJENDRA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 04. 01.2017. JV.SR.PS. / COPY OF THE ORDER FORWARDED TO : 1. APPELLANT / 2. RESPONDENT / 3. THE CONCERNED CIT(A)/ , 4. THE CONCERNED CIT / 5. DR A BENCH, ITAT, MUMBAI / , , . . . 6. GUARD FILE/ //TRUE COPY// / BY ORDER, / DY./ASST. REGISTRAR , /ITAT, MUMBAI.