NATIONAL ORGANIC CHEMICALS INDUSTRIES LTD ( NOW KNOWN AS NOCIL LTD), MUMBAI V. DCIT 1(2), MUMBAI

ITA 8512/MUM/2011

• Counselvise Citation: [2014] 120 COUNSELVISE.COM (IT) 8377 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2014
• Appeal Filed By: Assessee
• Bench Allotted: B
• Next Hearing Date: 27-11-2014
• Assessment Year: misc
• Appeal Filed On: 15-12-2011
• Court: TRIBUNAL
• Department Lawyers: AKHILENDRA YADAV SR
• Section: 244A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ./I.T.A. NO. 8512/M/2011 ( AY: 1987 - 1988 ) ./I.T.A. NO. 8513/M/2011 ( AY: 1988 - 1989 ) NATIONAL ORGANIC CHEMICALS INDUSTRIES LTD (NOW KNOWN AS NOCIL LTD), MAFATLAL HOUSE, 3 RD FLOOR, BACKBAY RECLAMATION, MUMBAI - 400 020. / VS. DCIT - 1(2), R.NO.620, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 20. ./ PAN : AAACN4412DE ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI AJIT SHAH / RESPONDENT BY : SHRI AKHILENDRA YADAV, SR. AR / DATE OF HEARING : 27.11.2014 / DATE OF PRONOUNCEMENT : 27.11.2014 / O R D E R PER D. KARUNAKARA RAO, AM: THERE ARE TWO APPEALS UNDER CONSIDERATION. BOTH THE APPEALS ARE FILED BY THE ASSESSEE ON 15.12.2011 AGAINST THE DIFFERENT ORDERS OF THE CIT (A) - 2, MUMBAI COMMONLY DATED 20.9.2011 FOR THE ASSESSMENT YEARS 1987 - 88 AND 1988 - 89. SINCE, THE SOLITARY GROUND RA ISED BY THE ASSESSEE IN BOTH THE APPEALS IS IDENTICAL, THEREFORE, FOR THE SAKE OF CONVENIENCE, THEY ARE CLUBBED, HEARD COMBINEDLY AND DISPOSED OF IN THIS CONSOLIDATED ORDER. APPEAL WISE ADJUDICATION IS GIVEN IN THE FOLLOWING PARAGRAPHS OF THIS ORDER. 2. A SSESSEE RAISED THE FOLLOWING SOLITARY GROUND FOR THE AYS 1987 - 88 AND AY 1988 - 89 WHICH READ AS UNDER: THE LD CIT (A) IN THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, OUGHT TO HAVE HELD THAT THE APPELLANT IS ENTITLED TO INTEREST U/S 214 / 244 OF THE INCOME TAX 2 ACT, 1961 INSTEAD AND IN PLACE OF UNDER SECTION 244A OF THE ACT AS GRANTED BY THE ASS ESSING OFFICER FOR THE ASSESSMENT YEAR UNDER REFERENCE. 3. AT THE OUTSET, DURING THE PROCEEDINGS BEFORE US, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO THE LETTER S DATED 25. 11.2014 FILED BY THE ASSESSEE FOR BOTH THE ASSESSMENT YEARS UNDER CONSIDE RATION, WHEREI N THE ASSESSEE MENTIONED THAT THEY ARE NOT INTERESTED TO PURSUE THE RELIEFS CLAIMED IN THE SAID APPEALS , THEREFORE, THEY ARE NOT PRESSED . IN THIS REGARD, LD COUNSEL READ OUT THE CONTENTS OF THE SAID LETTER S WHICH READ AS UNDER: 1. THE ABOVE REFERRED APPEAL FILED BY THE APPELLANT IS FIXED FOR HEARING ON 27 TH NOVEMBER, 2014. THE APPEAL INVOLVE GROUND REFERABLE TO GRANTING OF INTEREST UNDER SECTION 214 / 244 OF THE INCOME TAX ACT, 1961 (THE ACT) INSTEAD AND IN PLACE OF UNDER SECTION 244A OF THE ACT AS GRANTED BY THE ASSESSING OFFICER FOR THE ASSESSMENT YEAR 1987 - 88. 2. WITH THIS LETTER, WE STATE HERE THAT WE DO NOT WANT TO PURSUE THE RELIEFS CLAIMED IN THE SAID APPEAL PETITION. UNDER THE CIRCUMSTANCES, THE APPELLANT DOES NOT WANT TO PRESS THE S AID GROUND. 4. AFTER HEARING THE LD DR IN THI S REGARD, WE DISMISS THE GROUND RAISED BY THE ASSESSEE IN BOTH THE APPEALS AS NOT PRESSED. ACCORDINGLY, GROUNDS RAISED BY THE ASSESSEE ARE DISMISSED. 5. IN THE RES ULT, BOTH THE APPEALS FILED BY THE ASSESSEE AR E DISMISSED. ORDER PRONOU NCED IN THE OPEN COURT ON 2 7 T H NOVEMBER, 2014. S D / - S D / - ( AMIT SHUKLA ) (D. KARUNAKARA RAO ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; 2 7 /11/2014 . . ./ OKK , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 3 6. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI