TATA ELECTRIC COMPANIES (AOP), MUMBAI V. DCIT CIR 2(1), MUMBAI

ITA 78/MUM/2011

• Counselvise Citation: 7819914 RSA 2011
• Duration Of Justice: 2 year(s) 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-10-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 08-10-2013
• Assessment Year: 1998-1999
• Appeal Filed On: 05-01-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH VYAS SENIOR
• Assessee Lawyers: GIRIJA DAYAL
• Section: 244A

Judgement Text

` IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH E, MUMBAI . . , ! ' #'' '$ , % ! & BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER . 78 / / 2011 A.Y. 1998-1999 ITA NO. : 78/MUM/2011 (ASSESSMENT YEAR: 1998-1999) TATA ELECTRIC COMPANIES (AOP), 5 TH FLOOR, GIS BUILDING, 34, SANT TUKARAM ROAD, CARNAC BUNDER, MUMBAI -400 009 .: PAN: AAATL 0301 L VS THE ASST. COMMISSIONER OF INCOME TAX -2(3), AAYAKAR BHAVAN, MAHARSHI KARVE MARG, MUMBAI -400 020 (APPELLANT) (RESPONDENT) APPELLANT- REVENUE BY : SHRI DINESH VYAS, SENIOR COUNSEL RESPONDENT- ASSESSEE BY : SHRI GIRIJA DAYAL /DATE OF HEARING : 08-10-2013 !' / DATE OF PRONOUNCEMENT : 23-10-2013 ) O R D E R #'' '$ , : PER VIVEK VARMA, JM: THE INSTANT APPEAL IS FILED BY THE ASSESSEE AGAINST THE OR DER OF CIT(A) 6, MUMBAI, DATED 02.11.2010, WHEREIN, THE FOLLOWING GROUN DS HAVE BEEN TAKEN: THE APPELLANT OBJECTS TO THE ORDER DATED 02.11.201 0 PASSED BY THE COMMISSIONER INCOME-TAX (APPEALS) 6, MUMBAI (HERE INAFTER REFERRED TO AS THE CIT) FOR THE AFORESAID ASSESSMENT YEAR ON TH E FOLLOWING GROUNDS:- 1. THE CIT(A) HAS ERRED IN HOLDING THAT THE ORDER R ELATING TO QUANTIFICATION OF INTEREST U/S 244A IS NOT APPELLABLE. THE CIT(A) OUGHT TO HAVE APPRECIATED THAT THE LARGER ISSUE WAS ABOUT ERRONEO US METHOD OF CALCULATION OF INTEREST NOT ABOUT MATHEMATICAL ERRO RS. 2. THE CIT(A) OUGHT TO HAVE HELD THAT WHILE CALCULA TING AMOUNTS ON WHICH INTEREST U/S 244A SHALL BE ALLOWED, ONLY TAX COMPON ENTS OF REFUNDS ISSUED EARLIER SHOULD BE EXCLUDED AND NOT THE INTER EST COMPONENT. TATA ELEC TRIC COMPANIES (AOP) ITA 78/MUM/2011 2 2. AT THE TIME OF HEARING SENIOR COUNSEL SUBMITTED THAT THE ISSUE IS COVERED BY THE COORDINATE BENCH ORDER IN THE ASSESSEE S OWN CASE IN ASSESSMENT YEAR 1997-98, IN ITA NO. 6863/MUM/2011. THE SENIOR COUNSEL ALSO SUBMITTED THAT THE CIT(A) SHOULD HAVE CONS IDERED THE FACT THAT METHOD OF CALCULATION OF INTEREST U/S 244A SHOULD HAVE BEEN RIGHTLY APPLIED. 3. THE DR PLACED RELIANCE ON THE ORDERS OF THE REVENUE AUTHORITIES. 4. WE HAVE PERUSED THE ORDERS AND IN THE INTEREST OF J USTICE, WE TREAT IT PROPER TO RESTORE THE ISSUE TO THE CIT(A), TO G IVE A PROPER FINDING IN ACCORDANCE WITH LAW. 5. THE APPEAL, THEREFORE, ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD OCTOBER, 2013. SD/- SD/- ( . . ) ( #'' '$ ) ! ! (P.M. JAGTAP) (VIVEK VARMA) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATE: 23 RD OCTOBER, 2013 / COPY TO:- 1) / THE APPELLANT. 2) / THE RESPONDENT. 3) & & ' ( ) - 6 MUMBAI / THE CIT (A)-6, MUMBAI. 4) & & ' 2, MUMBAI / THE CIT -2, MUMBAI, 5) )*+ , , & , , -. / THE D.R. E BENCH, MUMBAI. 6) +/ 0 COPY TO GUARD FILE. &12 / BY ORDER 3 / 4 5 & , , -. DY. / ASSTT. REGISTRAR I.T.A.T., MUMBAI *784 . .