Deputy Commissioner of Income Tax, Circle-5(2)(1), Bangalore V. M/s. Balakrishna Flour Mills, Bangalore

MA 140/BANG/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6849 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 14-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 14A

Judgement Text

MP.140/BANG/2018 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'C', BENGALURU BEFORE SHRI. INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER MISC.PETITION NO.140/BANG/2018 (IN I.T.A NO.1324/BANG/2016 (ASSESSMENT YEAR : 2012-13) DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 5(2)(1), BENGALURU .. APPLICANT V. M/S. BALAKRISHNA FLOUR MILLS, NO.172, KAVI LAKSHMISHA ROAD, V. V. PURAM, BENGALURU 560 004 .. RESPONDENT PAN : AALFS4690R ASSESSEE BY : NONE REVENUE BY : DR. P. V. PRADEEP KUMAR, ADDL. CIT HEARD ON : 06.07.2018 PRONOUNCED ON : 31.07.2018 O R D E R PER LALIET KUMAR, JUDICIAL MEMBER : THE PRESENT MISCELLANEOUS APPLICATION IS FILED SEE KING RECTIFICATION OF THE ORDER OF THE TRIBUNAL IN ITA.1 324/BANG/2016, DT.17.11.2017, FOR THE ASSESSMENT YEAR 2012-13. MP.140/BANG/2018 PAGE - 2 02. THE LD. DR SUBMITTED THAT IN PARA 9 OF THE ORDE R THE TRIBUNAL HAS RESTRICTED THE DISALLOWANCE TO RS.2,46,923/-, W HEREAS IF THE CORRECT FORMULA AS GIVEN IN RULE 8D R.W.S. 14A IS A PPLIED THEN THE AMOUNT OF DISALLOWANCE WOULD COME TO RS.2,89,045/-. 03. NONE WAS PRESENT ON BEHALF OF THE ASSESSEE. 04. WE HAVE THE CONTENTIONS PUT FORTH BY THE LD DR AND ALSO PERUSED THE RECORD. IN OUR VIEW, ONCE THE FIGURE I N COLUMN D IS CORRECTLY MENTIONED AS RS.13,09,95,630/- INSTEAD OF RS.1,30,99,563/-, AND THE OTHER FIGURES ARE REMAIN UNCHANGED THEN THE DEDUCTION WOULD BE COMPUTABLE AFTER APPLYING RU LE 8D . HENCE IN VIEW OF THE ABOVE, WE DIRECT THE AO TO COMPUTE T HE CORRECT DISALLOWANCE AFTER APPLYING THE FORMULA GIVEN IN RU LE 8D READ WITH SECTION 14A BY ADOPTING THE CORRECT FIGURE AS RS.1 3,09,95,630/-. 05. IN THE RESULT, MP FILED BY THE REVENUE IS ALLOW ED WITH THE ABOVE DIRECTION. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST DAY OF JULY, 2018. SD/- SD/- (INTURI RAMA RAO) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBE R BENGALURU DATED : 31.07.2018 MCN* MP.140/BANG/2018 PAGE - 3 COPY TO: 1. THE ASSESSEE 2. THE ASSESSING OFFICER 3. THE COMMISSIONER OF INCOME-TAX 4. COMMISSIONER OF INCOME-TAX(A) 5. DR 6. GF, ITAT, BANGALORE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.