Hyundai Motor India Limited, Kancheepuram V. DCIT, CHENNAI

MA 392/CHNY/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6718 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 26 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-06-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 13-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A R V SRINIVASAN
• Assessee Lawyers: SP CHIDAMBARAM
• Keywords: Rectification of order; Capital receipt

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , D BENCH, CHENNAI , , . , BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER / MISCELLANEOUS PETITION NO.392/CHNY/2017 (ARISING IN I.T.A.NO.563/MDS/2015 ( / ASSESSMENT YEAR :2010-11) M/S. HYUNDAI MOTOR INDIA LIMITED, PLOT NO.H-1, SIPCOT INDUSTRIAL PARK, IRRUNGATTUKOTTAI, SRIPERUMBUDUR TALUK, KANCHEEPURAM 602 117. VS THE DEPUTY COMMISSIONER OF INCOME TAX, LTU II, CHENNAI PAN: AAACH2364M ( / APPLICANT) ( / RESPONDENT) APPLICANT BY : SHRI S.P. CHIDAMBARAM /RESPONDENT BY : SHRI AR.V. SRINIVASAN, JCIT /DATE OF HEARING : 08.06.2018 /DATE OF PRONOUNCEMENT : 08.06.2018 / O R D E R THE MISCELLANEOUS PETITION IS FILED BY THE REVENUE PRAYING FOR RECTIFICATION OF MISTAKE APPARENT ON RECORD IN THE ORDER OF THE TRIBUNAL PASSED IN I.T.A. NO. 563/MDS/2015 DATED 27.04.2017 FOR THE ASSESSMENT YEAR 2010-11. 2. AT THE OUTSET, THE LD.AR SUBMITTED THAT THE ADDITIONAL GROUND RAISED BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2009-10 WITH RESPECT 2 M.P NO.392/CHNY/2017 TO THE ISSUE OF SUBSIDY RECEIVED FROM GOVT. OF TAMILNADU IN THE FORM OF REFUND OF OUTPUT VAT IS A CAPITAL RECEIPT NOT CHARGEABLE TO TAX THOUGH REMITTED BACK TO THE FILE OF LD.AO FOR FRESH ADJUDICATION RELYING IN THE DECISION OF THE HONBLE APEX COURT IN THE CASE NTPC LTD., VS. CIT REPORTED IN 229 ITR 383, THE SAME WAS LEFT OUT TO BE CONSIDERED FOR THE ASSESSMENT YEAR 2010-11 EVEN WHEN THE GROUND WAS RAISED AS AN ADDITION GROUND FOR THE ASSESSMENT YEAR 2010-11. IT WAS THEREFORE PLEADED THE OMISSION OF CONSIDERING THE ADDITIONAL GROUND FOR THE ASSESSMENT YEAR 2010-11 MAY BE RECTIFIED. THE LD.DR COULD NOT CONTROVERT TO THE SUBMISSION OF THE LD.AR. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY PERUSED THE MATERIALS ON RECORD AND FIND MERIT IN THE SUBMISSION OF THE LD.AR. IT IS APPARENT FROM THE MATERIALS ON RECORD THAT THE ASSESSEE HAD RAISED THE ABOVE MENTIONED ADDITIONAL GROUND FOR BOTH THE ASSESSMENT YEARS 2009-10 & 2010-11. HOWEVER BY OVERSIGHT THE ADDITIONAL GROUND RAISED FOR THE ASSESSMENT YEAR 2010-11 WAS OMITTED TO BE CONSIDERED. SINCE FOR THE ASSESSMENT YEAR 2009-10, THE ADDITIONAL GROUND WAS REMITTED BACK TO THE FILE OF LD.AO FOR FRESH CONSIDERATION, FOLLOWING THE SAME WE HEREBY REMIT BACK THE ISSUE VIZ., SUBSIDY RECEIVED FROM GOVT. OF TAMILNADU IN THE FORM OF REFUND 3 M.P NO.392/CHNY/2017 OF OUTPUT VAT IS A CAPITAL RECEIPT NOT CHARGEABLE TO TAX TO THE FILE OF LD.AO FOR FRESH CONSIDERATION FOR THE ASSESSMENT YEAR 2010-11 ALSO. 4. IN THE RESULT THE MISCELLANEOUS PETITION FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH JUNE, 2018 AT CHENNAI. SD/- SD/- ( ) (GEORGE MATHAN) /JUDICIAL MEMBER ( . ) (A. MOHAN ALANKAMONY) /ACCOUNTANT MEMBER /CHENNAI, /DATED 08 TH JUNE, 2018 RSR . /COPY TO: 1. APPLICANT 2. RESPONDENT 3. ( ) /CIT(A) 4. /CIT 5. /DR 6. /GF.