DCIT CEN CIR 31, V. ZEST HOLDINGS P. LTD,

MA 431/MUM/2010

• Counselvise Citation: [2010] 123 COUNSELVISE.COM (IT) 5010 (ITAT-MUMBAI)
• Duration Of Justice: 1 month(s) 14 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-08-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2006-2007
• Appeal Filed On: 06-07-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DR P DANIEL
• Assessee Lawyers: NILESH MEHTA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI D. K. AGARWAL, JM & SHRI R.K. PANDA, AM M.A. NO. 431/MUM/2010 I.T.A. NO. 3637/MUM/2009 (ASSESSMENT YEAR 2006-07) DY. COMMISSIONER OF INCOME-TAX CENTRAL CIRCLE 31, R. NO. 409, 4 TH FLOOR, AAYAKAR BHAVAN, MUMBAI-400 020 VS. M/S. ZEST HOLDINGS PVT. LTD. 32, MADHULI, DR. A.B. ROAD, WORLI, MUMBAI-400 018 PAN: AAACZ0443M APPELLANT RESPONDENT APPELLANT BY: DR. P. DANIEL RESPONDENT BY: MR. NILESH MEHTA O R D E R DATE OF HEARING: 20.08.2010 DATE OF ORDER: 20.08.2010 PER R.K. PANDA, AM: THE REVENUE THROUGH THIS MISCELLANEOUS APPLICATION REQUESTS THE TRIBUNAL TO RECTIFY PARAGRAPHS 4 TO 6 OF THE ORDER OF THE TRIBUNAL WHERE THE TRIBUNAL HAS RESTORED THE MATTER TO THE FILE OF THE ASSESSING OFFICER INSTEAD OF RESTORING THE SAME TO THE FILE OF THE CIT(A). 2. BOTH THE PARTIES FAIRLY AGREED THAT THE TRIBUNAL IN THE CASE OF THE GROUP CONCERNS IN THE EARLIER YEARS HAS RESTORE D THE MATTER TO THE FILE OF THE CIT(A) FOR FRESH ADJUDICATION. THE REFORE, FOLLOWING THE ORDER OF THE TRIBUNAL IN CASE OF THE GROUP CONCERNS FOR OTHER YEARS, THE TRIBUNAL SHOULD HAVE RESTORED THE MATTER TO THE FILE OF THE CIT(A). HOWEVER, INADVERTENTLY, THE SAME HAS BEEN RESTORED TO THE FILE OF THE ASSESSING OFFICER. 3. AFTER HEARING BOTH THE SIDES, WE FIND THE TRIBUNAL IN THE CASE OF GROUP CONCERNS IN EARLIER ASSESSMENT YEARS HAS R ESTORED THE MATTER TO THE FILE OF THE CIT(A) FOR ADJUDICATION O F THE DISALLOWANCE M.A. NO. 431/MUM/2010 M/S. ZEST HOLDINGS PVT. LTD. =================== 2 ON ACCOUNT OF INTEREST EXPENDITURE. HOWEVER, INADV ERTENTLY A MISTAKE HAS CREPT IN THE ORDER OF THE TRIBUNAL IN T HE IMPUGNED ASSESSMENT YEAR WHERE THE MATTER HAS BEEN RESTORED TO THE FILE OF THE ASSESSING OFFICER INSTEAD OF THE CIT(A). WE, T HEREFORE, RECTIFY PARAGRAPHS 4 TO 6 OF THE ORDER WHERE THE WORDS OCCU RRING ASSESSING OFFICER SHALL BE READ AS CIT(A). ACC ORDINGLY WE DIRECT THAT PARAGRAPHS 4 TO 6 OF THE ORDER BE READ AS UNDE R: 4. THE LEARNED COUNSEL FOR THE ASSESSEE, AT THE OUTSET, DREW THE ATTENTION OF THE BENCH TO THE ORDE R OF THE TRIBUNAL IN THE CASE OF SISTER CONCERN VIZ., M/ S. ORION TRAVELS PVT. LTD. VS. DCIT VIDE I.T.A. NOS. 6 888 & 6889/MUM/08 FOR THE A.YS. 2004-05 AND 2005-06 AND SUBMITTED THAT THE TRIBUNAL FOLLOWING THE DECISION OF THE TRIBUNAL IN THE CASE OF M/S. AATUR HOLDINGS PVT . LTD. HAD RESTORED THE MATTER TO THE FILE OF THE CIT (A) FOR FRESH ADJUDICATION. THEREFORE, THIS GROUND SHO ULD BE RESTORED TO THE FILE OF THE CIT(A) FOR FRESH ADJUDICATION. 5. THE LEARNED DR, ON THE OTHER HAND, FAIRLY CONCEDED THE ABOVE FACTS AS STATED BY THE LEARNED COUNSEL FOR THE ASSESSEE AND SUBMITTED THAT THE TRIBUNAL IN THE CASE OF GROUP CONCERNS HAS RESTORED THE MATTER TO THE FILE OF THE CIT(A) FOR FRESH ADJUDICATION. 6. IN VIEW OF THE ABOVE SUBMISSION BY BOTH THE SIDES, WE RESTORE THIS ISSUE TO THE FILE OF THE CIT (A) FOR FRESH ADJUDICATION IN THE LIGHT OF THE DECISION OF THE TRIBUNAL IN THE CASE OF AATUR HOLDINGS PVT. LTD. (SUPRA) WHICH HAS SUBSEQUENTLY BEEN FOLLOWED BY THE TRIBUNAL IN THE CASE OF ORION TRAVELS PVT. LTD. (SU PRA). ACCORDINGLY THIS GROUND BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. 4. IN THE RESULT, THE MA FILED BY THE REVENUE IS ALLOW ED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE OF H EARING ITSELF, I.E. ON 20 TH AUGUST, 2010 SD/- (D.K. AGARWAL) JUDICIAL MEMBER SD/- (R.K. PANDA) ACCOUNTANT MEMBER MUMBAI, DATED 20 TH AUGUST, 2010 M.A. NO. 431/MUM/2010 M/S. ZEST HOLDINGS PVT. LTD. =================== 3 COPY TO: (1) THE APPELLANT, (2) THE RESPONDENT, (3) THE CIT(A), CENTRAL-IV, MUMBAI, (4) THE CIT, CENTRAL-II, MUMBAI, (5) THE DR, G BENCH, ITAT, MUMBAI. //TRUE COPY// BY ORDER ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI TPRAO