The DCIT Circle-4(1) Vizag, Visakhapatnam V. M/s United Millenium Breweries Ltd, Srikakulam

MA 32/VIZ/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6763 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 16 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-07-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 15-06-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D S SUNDER SINGH
• Keywords: Tax effect

Judgement Text

MA 32/V/11 UNITED MILLENIUM BREWERIES LTD., VSKP PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER M. A . NO. 32 / VIZAG/20 1 1 (ARISING OUT OF ITA NO.178/VIZAG/2005) ASSESS MENT YEAR: 2001 - 02 DCIT, CIRCLE - 4(1) VISAKHAPATNAM VS. M/S. UNITED MILLENIUM BREWERIES LTD (FORMERLY GMR BEWERAGES & INDS. LTD.) VISAKHAPATNAM (APPELLANT) (RESPONDENT) AABCG 4480G APPELLANT BY: SHRI D.S. SUNDER SINGH, SR. DR RESPONDENT BY: SHRI Y .A. RAO, CA ORDER PER SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER : THIS MISCELLANEOUS APPLICATION IS PREFERRED BY THE REVENUE WITH A REQUEST FOR RECALLING OF THE ORDER OF THE TRIBUNAL DATED 20.1.2011 IN THE LIGHT OF CIRCULAR ISSUED BY THE CBDT ON 9.2.2011 WITH THE SUBMISSION THAT THE TRIBUNAL HAS DISMISSED THE APPEAL OF THE REVENUE FO LLOWING THE ORDER OF THE SPECIAL BENCH WHICH IS CONTRARY TO THE CLARIFICATIO N ISSUED BY THE CBDT, CLARIFYING THAT IN CASE WHERE RETURNED LOSS IS REDU CED OR ASSESSED AS INCOME, THE TAX EFFECT WILL INCLUDE NOTIONAL TAX ON DISPUTE D ADDITION. 2. THE LD. COUNSEL FOR THE ASSESSEE ON THE OTHER HA ND HAS SUBMITTED THAT THE CLARIFICATION BY THE BOARD WAS ISSUED ON 9.2.20 11, WHERE AS THE ORDER OF THE TRIBUNAL WAS PASSED ON 20.1.2011. THEREFORE, TH E CLARIFICATION ISSUED BY THE BOARD WAS NOT AVAILABLE BEFORE THE TRIBUNAL WHI LE ADJUDICATING THE IMPUGNED ISSUE. MOREOVER, THE TRIBUNAL HAS DECIDED THE APPEAL FOLLOWING THE ORDER OF THE SPECIAL BENCH OF THE TRIBUNAL. THERE FORE, THERE IS NO ERROR APPARENT IN THE ORDER OF THE TRIBUNAL. 3. HAVING CAREFULLY EXAMINED THE MISCELLANEOUS APPL ICATION VIS--VIS THE ORDER OF THE TRIBUNAL DATED 20.1.2011, WE FIND THAT THE TRIBUNAL HAS DISMISSED THE APPEAL FOLLOWING THE ORDER OF THE SPE CIAL BENCH OF THE TRIBUNAL MA 32/V/11 UNITED MILLENIUM BREWERIES LTD., VSKP PAGE 2 OF 2 IN THE CASE OF JCIT VS. PEERLESS DEVELOPERS LTD. 10 3 ITD 349 IN WHICH THE TRIBUNAL HAS HELD THAT IF THE ASSESSED INCOME REMAI NED AT NIL OR IN LOSS, THE APPEAL OF THE REVENUE IS TO BE DISMISSED ON THE GRO UND OF NON MAINTAINABILITY. THE CLARIFICATION WAS ISSUED BY T HE CBDT ON 9.2.2011 WHICH IS AFTER ORDER OF THE TRIBUNAL. THEREFORE, THE TRI BUNAL HAS DECIDED THE APPEAL OF THE REVENUE FOLLOWING THE ORDER OF THE SPECIAL B ENCH OF THE TRIBUNAL IN THE AFORESAID CASE. SINCE THE CIRCULAR OF THE CBDT WAS NOT AVAILABLE BEFORE THE TRIBUNAL WHILE ADJUDICATING THE ISSUE, THE ORDER OF THE TRIBUNAL CANNOT BE CALLED TO BE IN CONTRARY WITH THE CLARIFICATION ISS UED BY THE CBDT. THEREFORE, NO ERROR APPARENT IS NOTICED IN THE ORDER OF THE TR IBUNAL. WE ACCORDINGLY, DISMISS THE MISCELLANEOUS APPLICATION OF THE REVENU E. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION OF THE REVENUE IS DISMISSED. PRONOUNCED ACCORDINGLY ON 1.7.2011. SD/ - SD/ - (B R BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED: 1 ST JULY, 2011. COPY TO 1 THE DCIT CIRCLE - 4(1), VISAKHAPATNAM 2 M/S. UNITED MILLENIUM BREWERIES LTD. (FORMERLY GMR BEVERAGES AND INDUSTRIES LTD.), BANTUPALLI VILLAGE, J.R. PURAM, R ANASTHALAM, SRIKAKULAM 3 THE CIT, VI SAKHAPATNAM 4 THE CIT(A) - II, VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM