ACIT, Ludhiana V. M/s Nahar Capital & Financial Services Ltd., Ludhiana

MA 126/CHANDI/2014

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4230 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 8 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-05-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 01-04-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 25-08-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: JAI KARAN SINGH
• Assessee Lawyers: AMIT RAJ
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS. RANO JAIN, ACCOUNTANT MEMBER M.A.NO.126/CHD/2014 (IN ITA NO. 870/CHD/2013) ASSESSMENT YEAR: 2010-11 THE ACIT, VS. M/S NAHAR CAPITAL & CIRCLE VII, FINANCIAL SERVICES LTD. LUDHIANA 375, IND. AREA LUDHIANA PAN NO. AACCN2866Q (APPELLANT) (RESPONDENT) APPELLANT BY : SH. AMIT RAJ RESPONDENT BY : SH. JAIKARAN SINGH DATE OF HEARING : 13/05/2016 DATE OF PRONOUNCEMENT :13/05/2016 ORDER PER BHAVNESH SAINI, J.M. ACIT CIRCLE VII, LUDHIANA FILED THE PRESENT MISC. A PPLICATION AGAINST THE ORDER OF THE TRIBUNAL DT. 06/06/2014, PASSED IN ITA NO. 870/13 FOR ASSESSMENT YEAR 2010-11. 2. WE HAVE HEARD LD. REPREHENSIVE OF BOTH THE PARTI ES. 3. IT IS STATED IN THE MISC. APPLICATION FILED BY T HE REVENUE AND THE TRIBUNAL HAS NOT DISPOSED OFF GROUND NO. 3 IN REFERENCE TO T HE DECISION OF THE DELHI HIGH COURT IN THE CASE OF CIT VS. GOETZE (INDIA) LTD. D ATED 09/12/2013, 361 ITR 505. 4. THE ORDER OF THE TRIBUNAL DT. 06/06/2014 REVEALE D THAT THE REVENUE HAS RAISED THREE GROUNDS OF APPEAL INCLUDING GROUND NO. 3 AS MENTIONED IN THE MISC. APPLICATION. TRIBUNAL AFTER HEARING BOTH THE PARTIE S FOUND THAT THE ISSUE RAISED IN THE GROUNDS OF APPEAL OF THE REVENUE ARE COVERED BY THE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2008-09 . THE TRIBUNAL ALSO RELIED 2 UPON THE DECISION OF CHANDIGARH BENCH IN THE CASE O F DCIT VS. IND-SWIFT LAB DT. 30/11/2009 AND HELD THAT THE ISSUE IS COVERED IN FA VOUR OF THE ASSESSEE THEREFORE THE GROUND OF APPEAL RAISED BY THE REVENUE HAVE BEE N DISMISSED. THIS WOULD CLEARLY SHOWS THAT ALL THE GROUND OF APPEAL OF THE REVENUE HAVE BEEN CONSIDERED BY THE TRIBUNAL AND DEPARTMENTAL APPEAL HAVE BEEN DISMISSED FOLLOWING THE ORDER OF THE TRIBUNAL IN THE CASE OF THE SAME ASSESSEE. LD. COUNSEL FOR THE ASSESSEE PLACED ON RECORD ORDER OF HON'BLE HIGH COURT OF PUNJAB & HARYANA DT. 28/01/2016 IN ITA NO. 13 OF 2015 WHERE BY DEPARTMENTAL APPEAL HAVE BEEN DISMISSED BY THE HIGH COURT BECAUSE OF TH E LOW TAX EFFECT WHICH WAS FILED AGAINST THE ORDER OF THE TRIBUNAL DT. 06/ 06/2014 IN REFERENCE TO WHICH THE MISC. APPLICATION HAS BEEN FILED. THESE FACTS C LEARLY PROVED THAT ALL THE GROUNDS OF APPEAL RAISED BY THE REVENUE HAVE BEEN D ISPOSED OFF BY THE TRIBUNAL VIDE ORDER DT. 06/06/2014 AND THE ORDER OF THE TRIBUNAL HAS BEEN CONFIRMED BY HONBLE HIGH COURT. THEREFORE THERE IS NO MISTAKE APPARENT ON RECORD . THE MISC. APPLICATION OF THE REVENUE HAS N O MERIT THE SAME IS ACCORDINGLY DISMISSED. 5. IN THE RESULT, MISC. APPLICATION IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT SD/- SD/- (RANO JAIN) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED :13/05/2016 AG COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT, TH E CIT(A), THE DR