The ACIT, Cochin V. M/s.Geeyem Motors P. Ltd, Cochin

MA 38/COCH/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4261 (ITAT-COCHIN)
• Duration Of Justice: 7 month(s) 1 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-05-2016
• Appeal Filed By: Department
• Bench Allotted: DB
• Next Hearing Date: 13-05-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 12-10-2015
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH C OCHIN BEFORE S/SHRI B.P. JAIN, AM AND GEORGE GEOR GE K., JM M.P. NO. 38/COCH/2015 (ARSG. OUT OF I.T.A. NO.532/COCH/2014) ASSESSMENT YEAR : 2010-11) THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1(2), KOCHI. VS. M/S. GEEYEM MOTORS P. LTD., 11/346, NH-47,BYEPASS, NETTOOR P.O., KOCHI-682 304. [PAN:AABCG 8860A] (REVENUE -APPELLANT) (ASSESSEE-RESPONDENT) REVENUE BY SHRI K.P. GOPAKUMAR, SR. DR ASSESSEE BY SHRI MATHEW JOSEPH, CA DATE OF HEARING 13/05/2016 DATE OF PRONOUNCEMENT 13/05/2016 O R D E R PER B.P. JAIN:AM THIS MISCELLANEOUS APPLICATION BY THE REVENUE BEARING NO.38/COCH/2015 IS ARISING OUT OF THE ITAT, COCHIN ORDER IN I.T.A. NO. 532/COCH/2014 DATED 11/05/2015. 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE INVITED OUT ATTENTION TO THE QUANTUM IN THE ISSUE OF DISALLOWANCE U/S. 40(A)(IA) OF THE ACT WHICH IS RS.28,99,337/- WHERE THE TAX EFFECT IS LESS THAN RS . 10 LAKHS AND EVEN IF THE M.P. NO. 38/COCH/2015 2 SAME IS RECALLED, THE APPEAL OF THE REVENUE IS LIAB LE TO BE DISMISSED. THEREFORE, THE MISCELLANEOUS PETITION FILED BY THE REVENUE SHO ULD BE HELD TO BE INFRUCTUOUS AND BE DISMISSED. 3. THE LD. DR ON THE OTHER HAND ACCEDED TO THE A RGUMENTS MADE BY THE LD. COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUS ED THE FACTS OF THE CASE. UNDISPUTEDLY, THE TAX EFFECT ON THE ISSUE IS LESS T HAN RS.10 LAKHS AND THEREFORE, EVEN IF THE ORDER OF THE ITAT, COCHIN BENCH DATED 1 1.05.2015 IS RECALLED, THE SAID APPEAL WILL BE LIABLE TO BE DISMISSED. ACCORD INGLY, THE MISCELLANEOUS PETITION FILED BY THE REVENUE IS HELD TO BE INFRUCTUOUS AND THE SAME IS DISMISSED. IT IS ORDERED ACCORDINGLY. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION IN M.P. NO. 38/COCH/2015 FILED BY THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 13-05-2016. SD/- SD/- (GEORGE GEORGE K.) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: KOCHI DATED: 13 TH MAY, 2016 GJ COPY TO: 1. M/S. GEEYEM MOTORS P. LTD., 11/346, NH-47, BYEPA SS, NETTOOR P.O., KOCHI-682 304. 2. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -1(2), KOCHI. 3. THE COMMISSIONER OF INCOME-TAX(APPEALS)-II, KOCH I. M.P. NO. 38/COCH/2015 3 4. THE COMMISSIONER OF INCOME-TAX, KOCHI 5. D.R., I.T.A.T.,COCHIN. 6. GUARD FILE. BY ORDER (ASSISTANT REGISTRAR) I.T.A.T., COC HIN