Deputy Commissioner of Income-tax, Central Circle-1(2), Pune V. Finolex Industries Limited, Pune

MA 198/PUN/2022

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 9481 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 1 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-04-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 20-04-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 13-03-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH, ‘B’ PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURI, JUDICIAL MEMBER Miscellaneous Application No.198/PUN/2022 (arising out of ITA No.706/PUN/2018) Assessment Year : 2012-13 DCIT, Central Circle-1(2), Pune Vs. Finolex Industries Ltd., D-1/10, MIDC, Chinchwad, Pune – 411 019 PAN : AAACF2634A (Applicant) (Respondent) Assessee by : Shri Makarand Pendse Revenue by : Ms. Deepali Kalbandhe Date of Hearing : 21-04-2023 Date of Pronouncement : 26-04-2023 ORDER PER R.S.SYAL, VP : This Miscellaneous application has been moved by the Revenue to recall the order passed by the Tribunal on 10-11-2021 in relation to the assessment year 2012-13. 2. The only issue raised herein in the Miscellaneous application is that the Tribunal wrongly granted deduction for Education Cess and Higher Secondary Cess contrary to the law laid down by the Hon’ble Supreme Court in CIT Vs. K. Srinivasan (1972) 83 ITR 346 (SC). 3. At the outset, the ld. DR submitted that by virtue of Clause 13 of Finance Bill, 2022 and the judgment of Hon’ble M.A.No.198/PUN/2022 Finolex Industries Limited 2 Supreme Court in the case of CIV Vs. K. Srinivasan (supra), the issue raised by the assessee through an additional ground for grant of deduction of Education Cess and Secondary & Higher Education Cess has to be disallowed since the amendment is retrospective in nature. The ld. AR was fair enough to concede the position and preferred not to press the additional ground raised at the time of hearing of the appeal u/s 254(1) of the Act. Having regard to the statutory amendment carried out to section 40(a) with retrospective effect covering the year under consideration, the Tribunal order dated 10-11-2021 in ITA No.706/PUN/2018 is modified to this extent. Ergo, the additional ground raised by the assessee is dismissed. 4. In the result, the Miscellaneous Application is allowed. Order pronounced in the Open Court on 26 th April, 2023. Sd/- Sd/- (PARTHA SARATHI CHAUDHURI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; िदनांक Dated : 26 th April, 2023 सतीश M.A.No.198/PUN/2022 Finolex Industries Limited 3 आदेश की ितिलिप अ ेिषत/Copy of the Order is forwarded to: 1. अपीलाथ / The Appellant; 2. थ / The Respondent 3. The Pr.CIT concerned 4. 5. DR, ITAT, ‘B’ Bench, Pune गाड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 26-04-2023 Sr.PS 2. Draft placed before author 26-04-2023 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *