Hitachi Ltd., New Delhi V. ADIT, New Delhi

MA 108/DEL/2021

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 7880 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-11-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 24-06-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROBIN RAWAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘FRIDAY, I-2’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) MA No.108/Del/2021 (Assessment Year : 2007-08) Hitachi Ltd. Unit 304-306, 3 rd Floor, ABW Eelgance Tower, Jasola District Centre New Delhi – 110 025 PAN : AAACH 2953 A Vs. ADIT Circle – 1(2), International Taxation, New Delhi (APPELLANT) (RESPONDENT) Assessee by Shri Tarandeep Singh, Adv Revenue by Shri Robin Rawal, Sr.D.R. Date of hearing: 29/10/2021 Date of Pronouncement: 24/11/2021 ORDER PER ANIL CHATURVEDI, AM: The present Miscellaneous Application (MA) has been filed by the assessee against the order of the Tribunal dated 08.06.2021 in respect of ITA No.5712/Del/2010 for Assessment Year 2007-08. 2 2. Before us, Learned AR took us to the Miscellaneous Application filed and inter alia submitted that in the impugned appeal vide Ground No.7 to 10, assessee had challenged action of the AO in subjecting to tax the entire receipts from Bhakra Beas Management Board Project (BBMB) on gross basis (without allowing any expenditure) at a tax rate of 41.82%. He submitted that during the course of hearing, it was submitted that income /profit from BBMB project was to be estimated at the rate of 10%. He submitted that in earlier years as well as in subsequent years, income and profit of the assessee from BBMB project has been estimated at the rate of 10% but however inadvertently, the Hon’ble Bench has noted and held at para 8 & 10 that the receipts have been taxed at the rate of 10%. He therefore submitted that instead of profits from BBMB project to be taxed at the rate of 10% inadvertently the Bench has held the receipts from BBMB project is to be taxed at the rate of 10%. He submitted that the aforesaid mistake is apparent from the record and same be rectified. 3. Learned DR on the other hand did not controvert the submissions made by Learned AR. 4. We have heard the rival submissions and perused the materials available on record. We find that the issue of estimation of income from BBMB Project was decided by relying on the decision of the Tribunal in assessee’s own case for earlier and subsequent years. In earlier and subsequent years the receipts 3 from BBMB project have been taxed at the rate of 10% of the profits. Inadvertently in para 10 of the order, it has been held that receipts from BBMB project is to be taxed at the rate of 10% of the receipts. We therefore hold that the profit from BBMB project is to be taxed at the rate of 10% of the profits. To that extent, order is corrected. Thus the Miscellaneous Application of the assessee is allowed. 5. In the result, the MA of the assessee is allowed Order pronounced in the open court on 24.11.2021 Sd/- Sd/- (SUDHANSHU SRIVASTAVA) (ANIL CHATURVEDI) JUDICIAL MEMBER ACCOUNTANT MEMBER Date:- 24.11.2021 PY* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI