ACIT, Madurai V. M/s. Standard Fireworks Pvt. Ltd., Sivakasi

MA 278/CHNY/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 5057 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-12-2016
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 06-10-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHIVA SRINIVASAN
• Assessee Lawyers: S SRIDHAR
• Section: 54

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . . . , . , BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER M.A. NO. 278/MDS/2016 [IN I.T.A. NO. 5/MDS/2016 ] ASSESSMENT YEAR : 2009-10 THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MADURAI V. M/S. STANDARD FIREWORKS P. LTD., THIRUTHANGAL ROAD, SIVAKASI. PAN:AACCS1480M ( APPLICANT) ( / RESPONDENT) APPLICANT BY : SHRI SHIVA SRINIVASAN, JCIT RESPONDENT BY : SHRI S. SRIDHAR, ADVOCATE / DATE OF HEARING : 23.12.2016 / DATE OF PRONOUNCEMENT : 23.12.2016 / // / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THE REVENUE FILED THE PRESENT MISCELLANEOUS PETIT ION ON THE GROUND THAT THE GROUNDS RAISED BY THE REVENUE IN GR OUND NOS.3 & 3.1 WITH REGARD TO DEDUCTION UNDER SECTION 80IA OF THE INCOME TAX ACT, 1961, (IN SHORT THE ACT) WERE NOT DISPOSED OFF. 2. SHRI SHIVA SRINIVASAN, THE LD. DEPARTMENTAL REP RESENTATIVE SUBMITTED THAT THE NON-DISPOSAL OF THE SPECIFIC GRO UND RAISED BY THE 2 M.A. NO. 278/MDS/2016 REVENUE IS AN ERROR WITHIN THE MEANING OF SECTION 2 54 (2) OF THE ACT. 3. WE HEARD SHRI S. SRINIVASAN, THE LD. COUNSEL FOR THE ASSESSEE ALSO. THE LD. COUNSEL VERY CLEARLY SUBMIT TED THAT THE GROUNDS RAISED BY THE REVENUE IN GROUND NOS.3 & 3.1 WITH REGARD TO DEDUCTION UNDER SECTION 80IA IN RESPECT OF INTEREST INCOME WERE NOT DISPOSED OFF. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NO T IN DISPUTE THAT THE GROUNDS RAISED BY THE REVENUE WITH REGARD TO DEDUCT ION UNDER SECTION 80IA IN RESPECT OF INTEREST INCOME IN GROUN D NOS.3 & 3.1 BEFORE THIS TRIBUNAL WERE NOT DISPOSED OFF. NON-D ISPOSAL OF THE GROUNDS RAISED BY THE REVENUE BEFORE THIS TRIBUNAL IS AN ERROR WITHIN THE MEANING OF SECTION 254 (2) OF THE ACT. THEREFORE THE GROUNDS RAISED BY THE REVENUE NEEDS TO BE DISPOSED OFF. ACCORDINGLY, THE APPEAL OF THE REVENUE IN ITA NO.5 OF 2016 IS REOPENED AND RESTORED ON THE FILE FOR DISPOSAL OF G ROUND NOS.3 & 3.1 RAISED BY THE REVENUE. 5. ACCORDINGLY, THE REGISTRY IS DIRECTED TO POST TH E APPEAL ON 14.02.2017 FOR DISPOSAL OF GROUND NOS. 3 & 3.1 WITH REGARD TO CLAIM OF DEDUCTION UNDER SECTION 80IA IN RESPECT OF INTER EST INCOME. SINCE, THE DATE OF HEARING I.E., 14.02.2017 IS ANNO UNCED IN THE OPEN COURT IN THE PRESENCE OF BOTH THE PARTIES, IT MAY N OT BE NECESSARY FOR 3 M.A. NO. 278/MDS/2016 THE REGISTRY TO ISSUE NOTICE ONCE AGAIN. IN OTHER WORDS, THE COPY OF THIS ORDER SHALL BE TREATED AS NOTICE OF HEARING. 6. WITH THE ABOVE OBSERVATION THE MISCELLANEOUS PET ITION OF THE REVENUE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD DECEMBER, 2016 AT CHENNAI. SD/- SD/- ( . ) ( . . . ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, /DATED, THE 23 RD DECEMBER, 2016. JR. /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( ) /CIT(A) 4. /CIT, 5. ! /DR 6. '#$ /GF.