ACIT, CHENNAI V. TTK Health Care Limited, CHENNAI

MA 16/CHNY/2014

• Counselvise Citation: [2014] 111 COUNSELVISE.COM (IT) 0506 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 14-03-2014
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 14-03-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 10-02-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: TN BETGERIJCIT

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , D B ENCH, CHENNAI . , !' # , $ % BEFORE SHRI A.MOHAN ALANKAMONY ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER M.P.NOS.220/MDS/2013 & 16/MDS/2014 (IN I.T.A.NO.1898/MDS/2011 & 2030/MDS/2011) ( / ASSESSMENT YEAR : 2008-09) ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE III(2), CHENNAI-600 034 VS. M/S. TTK HEALTHCARE LIMITED NO.6, CATHEDRAL ROAD, CHENNAI-600 086. PAN:AABCT3312J (APPLICANT) (RESPONDENT) APPLICANT BY : MR. T.N.BETGERI,JCIT RESPONDENT BY : MR. SAROJ KUMAR PARIDA, ADVOCATE / DATE OF HEARING : 14 TH MARCH, 2014 /DATE OF PRONOUNCEMENT : 14 TH MARCH, 2014 & / O R D E R PER CHALLA NAGENDRA PRASAD, JM: BY THESE MISCELLANEOUS PETITIONS, REVENUE SUBMITS THAT THERE IS A MISTAKE IN THE ORDER OF THE TRIBUNA L DATED 02.07.2013 IN RESPECT OF DISALLOWANCE REGARDING NON - RECOVERABLE DEPOSITS WRITTEN OFF, AS THE AMOUNT OF DISALLOWANCE WAS CONSIDERED AT ` 18,97,494/- INSTEAD OF ` 11,56,786/-. 2. DEPARTMENTAL REPRESENTATIVE SUBMITS THAT THE TRI BUNAL HAS MISTAKENLY TAKEN THE FIGURE OF DISALLOWANCE REG ARDING M.P.NO.220/ MDS/2013 & M.P.NO.16/MDS/2014 2 NON-RECOVERABLE DEPOSITS WRITTEN OFF AT ` 18,97,494/- INSTEAD OF ` 11,56,786/-, THEREFORE, THERE IS A MISTAKE CREPT IN THE ORDER OF THE TRIBUNAL AND PLEADS FOR RECTIFICATION. 3. HEARD BOTH SIDES. PERUSED ORDERS OF LOWER AUTHOR ITIES AND IMPUGNED ORDER OF THIS TRIBUNAL DATED 2 ND JULY, 2013. THE TRIBUNAL WHILE DISPOSING OF THE APPEALS AT PARAS 15 & 16 CONSIDERED THE ISSUE OBSERVING AS UNDER:- 15. IN RESPECT OF DISALLOWANCE OF NON-RECOVERABLE DEPOSITS WRITTEN OFF TO THE EXTENT OF ` 18,97,494/- PAID AS EARNEST MONEY DEPOSIT TO VARIOUS INSTITUTIONS MAIN LY GOVERNMENT BODIES. THE ISSUE HAS BEEN CONSIDERED B Y THIS TRIBUNAL IN ASSESSEES OWN CASE IN ITA NO.795/MDS/2010 DATED 13.10.2011 FOR THE ASSESSMEN T YEAR 2006-07 AND THE CO-ORDINATE BENCH CONFIRMED TH E DISALLOWANCE HOLDING AS UNDER:- 4.1. XXXXX 4.2. XXXXX 4.3. XXXXX 16. THE FACTS AND CIRCUMSTANCES ARE BEING SIMILAR, WE SUSTAIN THE DISALLOWANCE IN RESPECT OF NON-RECOVERA BLE DEPOSITS WRITTEN OFF TO THE EXTENT OF ` 18,97,494/- PAID AS EARNEST MONEY DEPOSIT (EMD) TO VARIOUS INSTITUTION S, GOVERNMENT BODIES ETC. FOR THE ASSESSMENT YEAR 2008 - 09. 4. WE FIND THAT DISALLOWANCE OF NON-RECOVERABLE DE POSITS WRITTEN OFF WAS CONSIDERED AT ` 18,97,494/- REPRESENTING THE M.P.NO.220/ MDS/2013 & M.P.NO.16/MDS/2014 3 AMOUNTS PAID AS EARNEST MONEY DEPOSITS TO VARIOUS INSTITUTIONS, GOVERNMENT BODIES ETC. NOW, THE REVEN UE PLEADS THAT THE CORRECT AMOUNT OF DISALLOWANCE IS ` 11,56,786/-. THEREFORE, CONSIDERING THE MISCELLANEO US PETITIONS FILED BY THE REVENUE, WE RECTIFY THE MIST AKE CREPT IN THE ORDER OF THIS TRIBUNAL DATED 2 ND JULY, 2013 BY REPLACING THE NON-RECOVERABLE DEPOSITS WRITTEN OFF AT ` 11,56,786/- INSTEAD OF ` 18,97,494/-. THEREFORE, NON-RECOVERABLE DEPOSITS W RITTEN OFF PAID AS EARNEST MONEY DEPOSIT SHOULD BE READ AS ` 11,56,786/- INSTEAD OF ` 18,97,494/- IN PARA NOS.15 & 16 OF THE IMPUGNED ORDER. 5. BOTH THE MISCELLANEOUS PETITIONS ARE ALLOWED ACCORDINGLY. ORDER PRONOUNCED IN THE OPEN COURT ON FRIDAY , THE 14 TH DAY OF MARCH, 2014 AT CHENNAI. SD/- SD/- (A.MOHAN ALANKAMONY) (CHALLA NAGEN DRA PRASAD) ACCOUNTANT MEMBER JUDI CIAL MEMBER CHENNAI, DATED THE 14 TH MARCH, 2014. SOMU M.P.NO.220/ MDS/2013 & M.P.NO.16/MDS/2014 4 COPY TO: (1) APPLICANT (4) CIT(A) (2) RESPONDENT (5) D.R (3) CIT (6) G.F.