DCIT, CHENNAI V. M/s. Aban Offshore Ltd., CHENNAI

MA 373/CHNY/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6190 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-03-2018
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 16-11-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI . , . . , BEFORE SHRI ABRAHAM P.GEORGE, ACCOUNTANT MEMBER AND SHRI DUVV URU RL REDDY , JUDICIAL MEMBER M . P . NO. 37 3 /CHNY/20 17 [IN I .T.A. NO. 2518/CHNY/2016] ASSESSMENT YEAR :2009 - 10 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE - 1 (1), CHENNAI. VS. M/S. ABAN OFFSHORE LTD., 113, JANPRIYA CREST, PANTHEON ROAD, EGMORE, CHENNAI 600 008. [PAN:AAACA3012H] ( /APPELLANT) ( /RESPONDENT) DEPARTMENT BY : SHRI AR.V.SREENIVASAN, JCIT ASSESSEE BY : SHRI KUMAR PAL, C.A. / DATE OF HEARING : 16.03 .201 8 / DATE OF PRONOUNCEMENT : 16 . 0 3 .2018 / O R D E R PER DU VVURU RL REDDY , JUDICIAL MEMBER : THE PRESENT MISCELLANEOUS PETITION FILED BY THE DEPARTMENT IS AGAINST THE ORDE R OF THE TRIBUNAL IN I.T.A. NO. 25 18 / CHNY /201 6 DATED 21.06.2017 RELEVANT TO THE ASSESSMENT YEAR 200 9 - 1 0. THE GRIEVANCE OF THE REVENUE IS THAT THE TRIBUNAL DISMISSED THE APPEAL OF THE REVENUE ON LESS TAX EFFECT. HOWEVER, THE LD. DR SUBMITTED THAT IN THIS CASE, THE ADDITION WAS MADE UNDER SECTION 115WE(3) OF THE INCOME TAX ACT, 1961 [ ACT IN SHORT] TO THE TUNE OF .44,35,832/ - [20% OF .2,21,79,162/ - ] AND THE CORRESPONDING TAX EFFECT WAS .15,07,739/ - . AS PER THE LD. DR, THE TAX EFFECT IS MORE THAN THE PRESCRIBED MONETARY LIMIT, AND THUS, THE ORDER OF THE TRIBUNAL MAY BE RECALLED AND DISPOSED OFF ON MERITS. : - 2 - : MP NO.37 3 /CHNY/2017 2. O N THE OTHER HAND, THE LD. COUNSEL FOR THE ASSESSEE DID NOT RAISE ANY OBJECTION. 3. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED THE ORDER OF THE TRIBUNAL. THE TRIBUNAL VIDE ORDER DATED 21.06.2017 DISMISSED THE APPEAL FILED BY THE REVENUE AS UN - ADMITTED B Y OBSERVING THAT THE APPEAL FILED BY THE REVENUE IS LESS THAN THE MONETARY LIMIT OF .10 LAKHS FIXED BY THE CBDT TO FILE THE APPEAL BEFORE THE TRIBUNAL. AS PER WORKING GIVEN BY THE LD. DR, THE TAX EFFECT COMES TO .15,07,739/ - , THEREBY, THE APPEAL FILED BY THE REVENUE IS REQUIRED TO BE ADJUDICATED ON MERITS AND THUS, WE FIND THAT THERE IS A MISTAKE APPARENT ON RECORD. IN VIEW OF THE ABOVE FACTS, WE RECALL THE ORDER PASSED BY THE TRIBUNAL DATED 21.06.2017 TO ADJUDICATE THE ISSUE ON MERITS . ACCORDINGLY, THE REGISTRY IS DIRECTED TO FIX THE APPEAL IN I.T.A. NO. 2518 / CHNY /2016 FOR HEARING IN DU E COURSE AFTER GIVING NOTICE TO THE PARTIES. 4. IN THE RESULT, THE MP FILED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 16 TH MARCH, 201 8 , IN CHENNAI. SD/ - SD/ - ( . ) ( ABRAHAM P. GEORGE ) /ACCOUNTANT M EMBER ( . . ) ( DUVVURU R.L. REDDY ) /JUDICIAL MEMBER / CHENNAI , / DATED: 16. 0 3 . 2018 . VM : - 3 - : MP NO.37 3 /CHNY/2017 / COPY TO: 1. / APPELLANT 4. / CIT 2. / RESPONDENT 5. / DR 3. ( ) / CIT(A) 6. / GF