Kudremukh Iron Ore Company Limited, Bangalore V. ACIT, Bangalore

MA 2/BANG/2011

• Counselvise Citation: [2011] 111 COUNSELVISE.COM (IT) 0356 (ITAT-BANGALORE)
• Duration Of Justice: 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-02-2011
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Next Hearing Date: 11-02-2011
• Assessment Year: 2002-2003
• Appeal Filed On: 20-01-2011
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SWATHI S PATIL CITIIDR
• Assessee Lawyers: H N KHINCHA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER M.P. NOS. 2 & 3/BANG/2011 (IN ITA NO S . 455/BANG/2006 & 91/BANG/2007) ASSESSMENT YEAR S : 20 02 - 03 & 2003 - 04 M/S. KUDREMUKH IRON ORE CO. LTD., II BLOCK, KORAMANGALA, BANGALORE 560 004. : APP LICANT VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 11(3), BANGALORE. : RESPONDENT APPLIC A NT BY : SHRI H.N. KHINCHA, C.A. RES PONDENT BY : S MT. SWATHI S. PATIL, CIT - II(DR) O R D E R PER GEORGE GEORGE K., JUDICIAL MEMBER THESE TWO MISCELLANEOUS PETITIONS ARE FILED BY THE ASSESSEE COMPANY FOR THE ASSESSMENT YEARS 2002 - 03 & 2003 - 04 SEEKING TO RESTORE THE APPEALS WHICH WERE DIS MISSED BY THE SEPARATE ORDERS OF THE TRIBUNAL DATED 24.8.2007 AND 5.10.2007 RESPECTIVELY FOR WANT OF COD PERMISSION. 2. IT IS SUBMITTED IN THE PETITIONS THAT THE COD PERMISSION HAS SINCE BEEN RECEIVED AND COPY OF THE MINUTES OF THE MEETING OF THE CABINET SECR ETARIAT, LITIGATION CELL HELD ON 20.5.2009 IS FILED ON RECORD. 3. WE HAVE HEARD BOTH THE PARTIES AND P ERUSED THE MATERIAL ON RECORD AND THE MINUTES OF THE MEETING OF THE COD NO.COD/19/2009 HELD ON MP NO.2&3/BANG/11 PAGE 2 OF 3 20.5.2009. FOR THE A.Y. 2002 - 03, THE COD HAS PERMITTED TO PURSUE ONLY THE SECOND ISSUE IN APPEAL, WHICH IS REPRODUCED BELOW: INTEREST ACCRUED ON LOAN GIVEN TO KISCO . 4. IN RESPECT OF A.Y. 2003 - 04, THE COD HAS GRANTED PERMISSION TO PROSECUTE THE APPEAL IN RESPECT OF ALL THE THREE ISSUES, WHICH ARE REPRODUCED BE LOW: (1) PROVISION FOR SALARY ARREARS. (2) INTEREST ESTIMATED ON AMOUNT DUE FROM KISCO ON LOAN. (3) ADDING OF SALES TAX AND EXCISE DUTY TO THE GROSS TURNOVER UNDER 80HHC. 5. WE THEREFORE RECALL THE ORDERS OF THE TRIBUNAL DATED 24.8.2007 AND 5.10.2007 FOR THE ASSESSMENT YEARS 2002 - 03 AND 2003 - 04 RESPECTIVELY TO THE EXTENT OF THE ISSUES MENTIONED IN THE FOREGOING PARAGRAPHS AND DIRECT THE REGISTRY TO POST THE APPEALS FOR HEARING IN THE DUE COURSE. IT IS ORDERED ACCORDINGLY. 6. IN THE RESULT, THE MISCELLANEOUS PET ITION FOR THE A.Y. 2002 - 03 IS PARTLY ALLOWED AND THAT FOR THE A.Y. 2003 - 04 IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 17 TH DAY OF FEBR UARY, 2011 . SD/ - SD/ - (A. MOHAN ALANKAMONY ) ( GEORGE GEORGE K. ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 17 TH FEBRU ARY, 2011 . DS/ - MP NO.2&3/BANG/11 PAGE 3 OF 3 COPY TO: BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE. 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE