M/s. HealthCare Global Enterprises Limited, Bangalore V. Assistant Commissioner of Income Tax, Bangalore

MA 15/BANG/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6211 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 3 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 28-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SRINIVAS K P
• Keywords: Capital asset; Cost of acquisition

Judgement Text

MP.15/BANG/2019 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'A', BENGALURU BEFORE SHRI. JASON P. BOAZ, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER MISC. PETITION NO.15/BANG/2019 (IN I.T.A NO.1902/BANG/2016) (ASSESSMENT YEAR : 2012-13) M/S. HEALTHCARE GLOBAL ENTERPRISES LTD, HCG TOWER, NO.8, KALINGA RAO ROAD, SAMPANGIRAM NAGAR, BENGALURU 560 027 .. APPLICA NT PAN : AAACC8412H V. ASST. COMMISSIONER OF INCOME-TAX, CIRCLE -2(3)(1), BENGALURU .. RESPONDENT ASSESSEE BY : SHRI. SRINIVAS K. P, CA REVENUE BY : SHRI. T. CHANDRASEKHAR, ADDL. CIT HEARD ON : 01.03.2019 PRONOUNCED ON :01.03.2019 O R D E R PER LALIET KUMAR, JUDICIAL MEMBER : THE PRESENT MP IS FILED BY THE ASSESSEE SEEKING TO RECALL THE ORDER OF THE TRIBUNAL IN ITA.1902/BANG/2016, DT.05. 10.2018, FOR THE ASSESSMENT YEAR 2012-13. MP.15/BANG/2019 PAGE - 2 02. THE LD. AR HAS BROUGHT TO OUR NOTICE THAT THE T RIBUNAL WHILE PASSING THE IMPUGNED ORDER DT.05.10.2018 HAD NOT AD JUDICATED THE ADDITIONAL GROUND WHICH READS AS UNDER ; WITHOUT PREJUDICE TO THE OTHER GROUNDS, THE LEARNED AO AND CIT (A) ERRED BY NOT DIRECTING THAT PREMIUM ON FORW ARD CONTRACT OF RS.1,76,28,004/- IS TO BE CONSIDERED AS COST OF ACQUISITION OF CAPITAL ASSETS IN LINE WITH THE PROV ISIONS OF SECTION 43A OF THE INCOME TAX ACT, 1961. IT WAS SUBMITTED BY THE LD. AR THAT AT THE TIME OF HEARING THE ASSESSEE HAD CONCEDED THAT THE MATTER IS COVERED AG AINST THE ASSESSEE IN ITA.1151/BANG/2018, IN RESPECT OF GROU ND URGED BEFORE US. THE ALTERNATE GROUND WHICH WAS IN THE FORM OF ADDITIONAL GROUND WAS NOT ADJUDICATED BY THE TRIBUNAL. 03. ON THE OTHER HAND THE LD. DR HAD SUBMITTED THAT THIS ISSUE IS NOT REQUIRED TO BE ADJUDICATED AS THIS ISSUE WHICH IS AN ALTERNATE GROUND IS ALSO COVERED AGAINST THE ASSESSEE. 04. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RECORD. AS IS CLEAR FROM THE ORDER IMPUGNED BEFORE US, THE ADDITIONAL GROUND WAS NOT ADJUDICATED BY THE TRIBUNAL WHILE PA SSING THE ORDER. THEREFORE, WE DEEM IT APPROPRIATE TO RECALL THE MAT TER FOR THE LIMITED PURPOSE OF ADJUDICATING THE ADDITIONAL GROUND IN AC CORDANCE WITH LAW. REGISTRY IS DIRECTED TO FIX UP THE MATTER IN DUE COURSE OF TIME. 05. IN THE RESULT, MP FILED BY THE ASSESSEE IS ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 ST MARCH, 2019. SD/- SD/- (JASON P. BOAZ) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBE R BENGALURU DATED : 01.03.2019 MP.15/BANG/2019 PAGE - 3 MCN* 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 ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.