M/s. Polaris Financial Technology Ltd., CHENNAI V. DCIT, CHENNAI

MA 405/CHNY/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 7030 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-08-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 27-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R VIJAYARAGHAVAN
• Section: 14A

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.P. NO.405/CHNY/2017 (IN I.T.A. NO.2315/MDS/2016) & '& / ASSESSMENT YEAR : 2010-11 M/S POLARIS CONSULTING AND SERVICES LIMITED, (FORMERLY KNOWN AS POLARIS FINANCIAL TECHNOLOGY LIMITED) 34, IT EXPRESS HIGHWAY, NAVALUR, CHENNAI - 600 103. (FORMERLY LOCATED AT POLARIS HOUSE, 244, ANNA SALAI, CHENNAI - 600 006) PAN : AAACP 4341 E V. THE DEPUTY COMMISSIONER OF INCOME TAX, COMPANY CIRCLE V(2), CHENNAI - 600 034. ()*& /PETITIONER) ()+*,/ RESPONDENT) )*& . / /PETITIONER BY : SH. R. VIJAYARAGHAVAN, ADVOC ATE )+*, . / / RESPONDENT BY : SHRI AR.V. SREENIVASAN, JCIT 0 . 1# / DATE OF HEARING : 24.08.2018 2!' . 1# / DATE OF PRONOUNCEMENT : 24.08.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THE ASSESSEE HAS FILED THE PRESENT MISCELLANEOUS PETITION ON THE GROUND THAT THE ALTERNATIVE GROUND RAISED BY THE ASSESSEE WITH REGARD TO DISALLOWANCE MADE UNDER SECTION 14A OF THE INCOME- 2 M.P. NO.405/CHNY/17 TAX ACT, 1961 (IN SHORT 'THE ACT') WAS NOT DISPOSED OF WHILE DISPOSING THE APPEAL BY THIS TRIBUNAL BY ORDER DATED 29.06.20 17 2. SH. R. VIJAYARAGHAVAN, THE LD.COUNSEL FOR THE AS SESSEE, SUBMITTED THAT IN THE ASSESSEES APPEAL, AT SL.NO.6 UNDER GROUND NO.1, A SPECIFIC GROUND WAS RAISED WITH REGARD TO D EDUCTION UNDER SECTION 10A OF THE INCOME-TAX ACT, 1961 (IN SHORT ' THE ACT') IN RESPECT OF THE ENHANCED INCOME DUE TO DISALLOWANCE MADE UNDER SECTION 14A OF THE ACT. THIS GROUND WAS NOT DISPOS ED OF. NON- DISPOSAL OF THIS GROUND, ACCORDING TO THE LD. COUNS EL, IS AN ERROR WITHIN THE MEANING OF SECTION 254(2) OF THE ACT. 3. WE HEARD SHRI AR.V. SREENIVASAN, THE LD. DEPARTM ENTAL REPRESENTATIVE, ALSO. ADMITTEDLY, THE ASSESSEE HAS RAISED GROUND NO.1.6 WITH REGARD TO DEDUCTION UNDER SECTION 10A O F THE ACT IN RESPECT OF THE INCOME ENHANCED DUE TO DISALLOWANCE MADE UNDER SECTION 14A OF THE ACT. THIS GROUND WAS ADMITTEDLY NOT DISPOSED OF. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THA T NON-DISPOSAL OF THIS GROUND IS AN ERROR IN THE ORDER WITHIN THE MEA NING OF SECTION 254(2) OF THE ACT. THEREFORE, THIS GROUND NEEDS TO BE DISPOSED OF. ACCORDINGLY, THE APPEAL OF THE ASSESSEE IN I.T.A. N O.2315/MDS/2016 IS HEREBY REPOSTED FOR THE PURPOSE OF DISPOSING OF ALTERNATIVE GROUND RAISED BY THE ASSESSEE WITH REGARD TO DEDUCT ION CLAIMED 3 M.P. NO.405/CHNY/17 UNDER SECTION 10A OF THE ACT IN RESPECT OF ENHANCED INCOME DUE TO DISALLOWANCE UNDER SECTION 14A OF THE ACT. THE REG ISTRY IS DIRECTED TO POST THE APPEAL FOR DISPOSAL OF GROUND NO.1.6 ON 24.10.2018. SINCE THE DATE OF HEARING WAS ANNOUNCED IN THE PRES ENCE OF BOTH THE PARTIES, IT MAY NOT BE NECESSARY FOR THE REGIST RY TO ISSUE A SEPARATE NOTICE OF HEARING. IN OTHER WORDS, A COPY OF THIS ORDER SHALL BE TREATED AS NOTICE OF HEARING FOR 24.10.2018. 4. WITH THE ABOVE OBSERVATION, THE MISCELLANEOUS PE TITION FILED BY THE ASSESSEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AFTER CONCLUSI ON OF HEARING ON 24TH AUGUST, 2018 AT CHENNAI. SD/- SD/- (. !' ) ( ... ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) # / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 4 /DATED, THE 24 TH AUGUST, 2018. KRI. . )15% 6%'1 /COPY TO: 1. )*& / PETITIONER 2. )+*, /RESPONDENT 3. 0 71 () /CIT(A) 4. 0 71 /CIT 5. %8 )1 /DR 6. 9& : /GF.