TATA SONS LTD, MUMBAI V. ACIT RG 2(3), MUMBAI

ITA 8310/MUM/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83750 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-09-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 17-09-2014
• Assessment Year: 2002-2003
• Appeal Filed On: 30-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MANJUNATHA SWAMY
• Assessee Lawyers: DINESH VYAS
• Keywords: Question of law
• Section: 260A

Judgement Text

, , , , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI .., ! , ' , # BEFORE SHRI I.P.BANSAL, JM AND SHRI RAJENDRA, AM ITA NO.8310 /MUM/2010 (A.Y. 2002-03) ITA NO.8306/MUM/2010(A.Y. 2003-04) TATA SONS LIMITED, BOMBAY HOUSE, HOMI MODY STREET, MUMBAI 400001 PAN:AAACT 4060M THE DY. CIT 2(3), ROOM NO.557, AAYKAR BHAVAN, M.K.ROAD, MUMBAI 400 020 ( $% / // / APPELLANT) ' ' ' ' / VS. ( ()$%/ RESPONDENT) $% * + * + * + * + /APPELLANT BY : SHRI DINESH VYAS ()$% * + * + * + * + /RESPONDENT BY : SHRI. MANJUNATHA SWAMY ' * ,-' / / / / DATE OF HEARING : 17.09.2014 ./0 * ,-' / DATE OF PRONOUNCEMENT : 17.09.2014 1 1 1 1 / / / / O R D E R PER I.P.BANSAL (JM) : THESE ARE APPEALS FILED BY THE ASSESSEE AND ARE DIR ECTED AGAINST ORDER PASSED BY LD. CIT(A)-6, MUMBAI DATED 27.09.2010 FO R ASSESSMENT YEARS 2002-03 AND 2003-04 RESPECTIVELY. THE GROUNDS OF A PPEAL IN BOTH THE APPEALS ARE IDENTICAL AND READ AS UNDER: THE LD. CIT(A) ERRED IN UPHOLDING THE LEVY OF INT EREST U/S. 234D FOR THE SUBJECT ASSESSMENT YEAR, PRIOR TO THE COMING INTO FORCE O F THIS SECTION. THE APPELLANT DENIES ITS LIABILITY U/S.234 AND PRAYS THAT THE INT EREST, BE DELETED. 2. AT THE OUTSET IT WAS POINTED OUT BY LD. SENIOR COUNSEL FOR THE ASSESSEE THAT THE AFOREMENTIONED ISSUE RAISED BY THE ASSESS EE IN THE PRESENT APPEALS IS COVERED AGAINST THE ASSESSEE BY THE ORDER OF HONBL E BOMBAY HIGH COURT IN ASSESSEES OWN CASE IN REGARD TO A.Y. 2001-02. CO PY OF THE ORDER WAS PLACED ON OUR RECORD AND WAS ALSO GIVEN TO LD. DR. THE OR DER IS DATED 17/09/2012 PASSED IN INCOME TAX APPEAL NO.6939 OF 2010. THE ORDER READ AS UNDER: 1. THIS IS AN APPEAL UNDER SECTION 260A OF THE IN COME TAX ACT, 1961 AGAINST THE ORDER OF THE INCOME TAX APPELLATE TRIBUNAL (TRI BUNAL) DATED 29.10.2009 IN ITA NO.746/MUM/2008, PERTAINING TO THE ASSESSMENT Y EAR 2001-02. THE APPEAL IS ADMITTED ON THE QUESTION OF LAW RAISED IN PARAGRAPH 4, WHICH READ AS UNDER:- ITA NO.8310 /MUM/2010 (A.Y. 2002-03) ITA NO.8306/MUM/2010(A.Y. 2003-04) 2 (A) WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE TRIBUNAL WAS JUSTIFIED IN HOLDING THAT THE PROV ISIONS OF SECTION 234D OF THE INCOME TAX ACT COULD NOT BE APPLIED RETROSPE CTIVELY FOR ASSESSMENT YEARS PRIOR TO ASSESSMENT YEAR 2004-05 EVEN THOUGH THE ASSESSMENT ORDER LEVYING INTEREST UNDER SECTION 234D WAS PASSE D AFTER 1.6.2003 AND A PART OF THE INTEREST PERIOD RELATED TO A PERIOD A FTER 1.6.2003? 2. THE ASSESSEE FILED ITS RETURN OF INCOME ON 31.1 0.2001. THE SAME WAS PROCESSED UNDER SECTION 143(1) ON 26.06.2002 GRANTI NG A REFUND ON THE SAME DAY. SUBSEQUENTLY ON 19.03.2004, A REGULAR ASSESSM ENT ORDER WAS MADE UNDER SECTION 143(3). THE QUESTION THEREFORE, IS WHETHER IN VIEW OF SECTION 234D, AS AMENDED BY THE FINANCE ACT NO.2 OF 2012, THE ASSESS EE IS LIABLE TO PAY INTEREST ON THE EXCESS AMOUNT, ALTHOUGH THE REFUND WAS GRANT ED PRIOR TO 1.6.2003. 3. THE QUESTION IS LIABLE TO BE ANSWERED IN FAVOUR OF THE APPELLANT- DEPARTMENT IN VIEW OF THE ORDER AND JUDGMENT DELIVE RED BY US ON 12.09.2012 IN THE COMMISSIONER OF INCOME TAX VS. M/S. INDIAN OIL CORPORATION LIMITED. 4. THE APPEAL IS ACCORDINGLY ALLOWED. NO ORDER AS TO COST. 3. IN VIEW OF THE ABOVE SITUATION, AFTER HEARING BO TH THE PARTIES, RESPECTFULLY FOLLOWING THE AFOREMENTIONED DECISIO N OF HONBLE JURISDICTIONAL HIGH COURT, WE DISMISS BOTH THE APPEALS. 4. IN THE RESULT, BOTH THE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 17.09. 2 014. 1 * ./0 2'3 17.09.2014 / * : SD/- SD/- (RAJENDRA) (I.P.BANSAL) ' ' ' ' / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; 2' DATED : 17 TH SEPT. 2014. VM. 1 * (,; < ;0, 1 * (,; < ;0, 1 * (,; < ;0, 1 * (,; < ;0,/ COPY OF THE ORDER FORWARDED TO : 1. $% / THE APPELLANT 2. ()$% / THE RESPONDENT. 3. =() / THE CIT, MUMBAI. 4. = / CIT(A)-13, MUMBAI 5. ;@: (,' , , / DR, ITAT, MUMBAI 6. :A B / GUARD FILE. 1' 1' 1' 1' / BY ORDER, );, (, //TRUE COPY// C CC C/ // /D D D D (DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI