Cholamandalam MS General Insurance Co. Ltd., CHENNAI V. ACIT, CHENNAI

MA 159/CHNY/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4771 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-08-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 24-06-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DURAI
• Assessee Lawyers: R VIJAYARAGHAVAN
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : CHENNAI BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER M.A . NO. 15 9 / MDS/2016 ./ I.T.A. NO.1483/MDS/2015 ! / ASSESSMENT YEARS:-2003-04 M/S. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD, DARE HOUSE 2 ND FLOOR, NO.2, NSC BOSE ROAD, CHENNAI 600 001. VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, LARGE TAXPAYER UNIT, CHENNAI. [PAN AABCC 6633K] ( PETITIONER ) (RESPONDENT) PETITIONER BY : SHRI. R. VIJAYARAGHAVAN, ADVOCATE RESPONDENT BY : SHRI. DURAI PANDIAN, IRS, JCIT. ' # $ %&' / DATE OF HEARING : 05-08-2016 ()! $ %&' / DATE OF PRONOUNCEMENT : 08-08-2016 / O R D E R PER G. PAVAN KUMAR, JUDICIAL MEMBER:- THIS MISCELLANEOUS APPLICATION FILED BY THE ASS ESSEE IS DIRECTED AGAINST THE ORDER OF THE TRIBUNAL IN ITA N O.1483/MDS/2015, DATED 28.01.2016 FOR THE ASSESSMENT YEAR 2003-04. M.A.NO.159/ 2016 IN ITA NO.1483/MDS/2015 :- 2 -: 2. AT THE TIME OF HEARING, THE LD. AUTHORISED REPRESEN TATIVE OF ASSESSEE NOT PRESSED THE FOLLOWING GROUNDS:- 1.2 THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) OUGHT TO HAVE APPRECIATED THAT THE BUSINE SS IS DEEMED TO BE SETUP AS SOON AS R1 STAGE AS PER IRDA REGULATION IS COMPLETED. 1.3 THE COMMISSIONER OF INCOME TAX (APPEALS) HAS FAILED TO APPRECIATE THE FACT THAT THE WORD SET-U P IS NOT DEFINED IN THE INCOME TAX ACT, 1961 (THE ACT) IN CONSIDERING SUCH EXPENSES AS PRE-OPERATIVE EXPENSE S. 1.5 WITHOUT PREJUDICE TO THE ABOVE, THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) OUGHT TO HAVE CONSIDERED THE ALTERNATIVE PLEA MADE BY THE ASSESSE E THAT THE EXPENSES INCURRED FROM THE PERIOD BEGINNING DECEMBER, 1, 2001 UPTO R3 STAGE ARE ELIGIBLE FOR DEDUCTION. AND MADE A ENDORSEMENT IN THE MISCELLANEOUS APPLI CATION. FURTHER AGUED ON ALTERNATIVE PLEA ON CLAIM OF DEDUCTION U/ S.35D OF THE ACT AND CLAIM OF DEPRECIATION ON SOFTWARE EXPENSES AND SUBMITTED THAT THE GROUND NOS. 1.6, 1.7 & 1.8 ARE NOT ADJUDICATED BY THE COMMISSIONER OF INCOME TAX (APPEALS) AND ALSO TRIB UNAL HAS NOT MADE ANY FINDINGS IN ITS ORDER AND PRAYED TO ADJUDI CATE THE AFORESAID GROUNDS. 3. CONTRA, THE LD. DEPARTMENTAL REPRESENTATIVE RELIED ON THE ORDER OF THE TRIBUNAL AND NOT MADE ANY SERIOUS OBJ ECTIONS ON MISCELLANEOUS APPLICATION. M.A.NO.159/ 2016 IN ITA NO.1483/MDS/2015 :- 3 -: 4. WE ON PERUSAL OF THE ORDER FOUND THAT THE LD. COMMI SSIONER OF INCOME TAX (APPEALS) HAS NOT ADJUDICATED ON THE GROUNDS REFERRED BY THE LD. COUNSEL. THEREFORE, WE ARE OF THE OPINI ON THAT THE MATTER HAS TO BE ADJUDICATED BY THE COMMISSIONER OF INCOME TAX (APPEALS) AND WE REMIT THE NON PROSECUTED GROUNDS AS PER GRO UNDS OF APPEAL TO THE FILE OF COMMISSIONER OF INCOME TAX (APPEALS) FO R ADJUDICATION. 5. THE MISCELLANEOUS APPLICATION FILED BY THE ASSES SEE IS ALLOWED. ORDER PRONOUNCED ON MONDAY, THE 8TH AUGU ST, 2016 AT CHENNAI. SD/- SD/- ( ) (CHANDRA POOJARI) / ACCOUNTANT MEMBER ( * . ' + ) (G. PAVAN KUMAR) / JUDICIAL MEMBER DATED:08.08.2016 KV COPY TO: PETITIONER/RESPONDENT/CIT(A)/CIT/DR