M/s. TCG Lifesciences Private Limited., Kolkata V. ACIT, Circle-11(2), Kolkata, Kolkata

MA 129/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 8961 (ITAT-KOLKATA)
• Duration Of Justice: 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-06-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 28-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 90

Judgement Text

M.A. NO. 129/ KOL/2019 (IN ITA NO . 2169/KOL/2017) A.Y. 20 13-2014 M/S. TCG LIFESCIENCES PRIVATE LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ) & SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER M.A. NO. 129/KOL/2019 (ARISING OUT OF I.T.A. NO. 2169/KOL/2017) ASSESSMENT YEAR: 2013-2014 M/S. TCG LIFESCIENCES PVT. LIMITED,................ ......................APPLICANT (FORMERLY TCG LIFESCIENCES LIMITED) BLOCK-BN, PLOT-7, SECTOR-V, SALT LAKE ELECTRONICS COMPLEX, KOLKATA-700 091 [PAN: AABCC 0401 D] -VS.- ASSISTANT COMMISSIONER OF INCOME TAX,.............. ................RESPONDENT CIRCLE-11(2), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 APPEARANCES BY: SHRI ALOK KATCHOTIA, C.A. & SHRI RAJESH SHARMA, C.A ., FOR THE APPLICANT SHRI C.J. SINGH, JCIT, SR. D.R. , FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : JUNE 21, 2019 DATE OF PRONOUNCING THE ORDER : JUNE 21, 2019 O R D E R PER SHRI P.M. JAGTAP, VICE-PRESIDENT (KOLKATA ZONE) :- BY THIS MISCELLANEOUS APPLICATION, THE ASSESSEE IS SEEKING RECTIFICATION OF THE MISTAKE ALLEGED TO HAVE CREPT IN THE ORDER OF THE TRIBUNAL DATED MARCH 15, 2019 PASSED IN I.T.A. NO. 2169/KOL/2017. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS SUBMITTED BY THE ASSESSEE IN THE M.A. NO. 129/ KOL/2019 (IN ITA NO . 2169/KOL/2017) A.Y. 20 13-2014 M/S. TCG LIFESCIENCES PRIVATE LIMITED 2 PRESENT MISCELLANEOUS APPLICATION AND FURTHER REITE RATED BY ITS LD. COUNSEL AT THE TIME OF HEARING BEFORE US, THE FOLLO WING ADDITIONAL GROUND RAISED BY THE ASSESSEE DURING THE COURSE OF APPELLA TE PROCEEDINGS BEFORE THE TRIBUNAL HAS REMAINED TO BE UNDECIDED:- (1) THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE PETITIONER BE ALLOWED FOREIGN TAX CREDIT FOR THE TAXES PAID IN JAPAN ON THE DOUBLY TAXED INCOME IN ACCORDANCE WITH THE PROVISIONS OF SECTION 90 OF THE ACT READ WITH THE INDIA-JAPAN TAX TREATY. (2) WITHOUT PREJUDICE TO THE ABOVE, THE PETITIONER BE ALLOWED FOREIGN TAX CREDIT FOR THE TAXES PAID IN JA PAN ON THE DOUBLY TAXED INCOME IN ACCORDANCE WITH THE PROVISIONS OF SECTION 91 OF THE ACT. 3. THERE IS THUS A MISTAKE APPARENT FROM THE RECORD IN THE ORDER OF THE TRIBUNAL DATED MARCH 15, 2019 (SUPRA) IN NOT DECIDI NG THE ADDITIONAL GROUND RAISED BY THE ASSESSEE AND THE SAME IS RECTI FIED BY INSERTING PARA NO. 11(A) AFTER PARA NO. 11 AND BEFORE PARA NO. 12 AS UNDER:- PARA NO. 11(A) : AS REGARDS THE ISSUE RAISED BY THE ASSESSEE IN THE ADDITIONAL GROUND CLAIMING CREDIT FOR TAXES PAI D IN JAPAN, WE FIND THAT THE SIMILAR ISSUE WAS RAISED BY THE AS SESSEE BY WAY OF ADDITIONAL GROUND IN A.YS. 2011-12 AND 2012- 13 AND THE TRIBUNAL AFTER ADMITTING THE ADDITIONAL GROUND DIRE CTED THE ASSESSING OFFICER TO CONSIDER THE CLAIM OF THE ASSE SSEE AS MADE IN THE ADDITIONAL GROUND IN ACCORDANCE WITH LAW AFT ER DUE VERIFICATION. RESPECTFULLY FOLLOWING THE DECISION O F THE TRIBUNAL IN ASSESSEES OWN CASE FOR A.YS. 2011-12 AND 2012-1 3, WE DIRECT THE ASSESSING OFFICER TO CONSIDER THE CLAIM OF THE ASSESSEE FOR CREDIT OF TAXES PAID IN JAPAN AS RAISE D IN THE ADDITIONAL GROUND IN ACCORDANCE WITH LAW AFTER DUE VERIFICATION. THE ADDITIONAL GROUND RAISED BY THE ASSESSEE IS ACC ORDINGLY TREATED AS ALLOWED FOR STATISTICAL PURPOSES. M.A. NO. 129/ KOL/2019 (IN ITA NO . 2169/KOL/2017) A.Y. 20 13-2014 M/S. TCG LIFESCIENCES PRIVATE LIMITED 3 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION FIL ED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON JUNE 21, 201 9. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE-P RESIDENT (KZ) KOLKATA, THE 21 ST DAY OF JUNE, 2019 COPIES TO : (1) M/S. TCG LIFESCIENCES PVT. LIMITED, (FORMERLY TCG LIFESCIENCES LIMITED) BLOCK-BN, PLOT-7, SECTOR-V, SALT LAKE ELECTRONICS COMPLEX, KOLKATA-700 091 (2) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-11(2), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (3) DISPUTE RESOLUTION PANEL-2, NEW DELHI, (4) COMMISSIONER OF INCOME TAX , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.