PENNZOIL QUAKER STATE INDIA LTD, V. ASST CIT 1(2),

MA 440/MUM/2014

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 2880 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-03-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 19-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AVAN MUMBAI PANGIR NO AAACP C
• Assessee Lawyers: M P LOHIA SHRI PREMANAND J

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBA , ,. !'# , $ % BEFORE SHRI VIJAY PAL RAO, JM AND SHRI N.K. BIL LAIYA, AM M.A. NO.440/MUM/2014 (ARISING OUT OF I. T.A. NO.8738/MUM/2011 ( & & & & / ASSESSMENT YEAR : 2007-08 M/S. PENNZOIL QUAKER STATE INDIA LTD., 502 B WING, DELPHI, HIRANANDANI BUSINESS PARK, POWAI, MUMBAI-400 076 / VS. THE ACIT 1-(2), AAYAKAR BYAVAN, MUMBAI-400 020 ' $ ./ ( ./PAN/GIR NO. : AAACP 7143C ( ') /APPELLANT ) .. ( *+') / RESPONDENT ) ') , / APPELLANT BY: SHRI M.P. LOHIA *+') - , / RESPONDENT BY : SHRI PREMANAND. J. - ./$ / DATE OF HEARING : 13.03.2015 01& - ./$ / DATE OF PRONOUNCEMENT : 13.03.2015 2 / O R D E R PER N.K. BILLAIYA, AM: THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE IS A RISING OUT OF THE ORDER OF THE TRIBUNAL IN ITA NO. 8738/M/2011 DT. 19 .12.2012. 2. THE ASSESSEE BRINGS TO THE NOTICE OF THE TRIBUNA L, THE GROUND RAISED IN ITA NO. 8738/M/11. IT IS POINTED OUT THAT BY MI STAKE GROUND NO. 1.4 REMAINED TO BE ADJUDICATED. M.A NO. 440/MUM/2014 2 3. WE HAVE CAREFULLY PERUSED THE ORDER OF THE TRIBU NAL IN ITA NO. 8738/M/2011. GROUND NO. 1.4 READS AS UNDER: WITHOUT PREJUDICE, THE APPELLANT PRAYS THAT RELIEF BE GRANTED IN SUCCEEDING YEAR I.E. A.Y. 2008-09 BY WAY OF ADDITION TO OPENING STOCK. 4. WE FIND THAT THIS ISSUE IS CONSEQUENTIAL TO THE ISSUE RAISED VIDE GROUND NO. 1.1 AND 1.2 WHICH THE TRIBUNAL HAS DECID ED AGAINST THE ASSESSEE VIDE PARA-8 OF ITS ORDER. SINCE THE TRIBU NAL HAD CONFIRMED THE ADDITION TO THE CLOSING STOCK AMOUNTING TO RS. 96,3 9,000/- FOR THE YEAR UNDER CONSIDERATION, IT WOULD THEREFORE HAVE CONSEQ UENTIAL EFFECT IN THE SUCCEEDING YEAR I.E. A.Y. 2008-09. GROUND NO. 1.4 IS ACCORDINGLY DISPOSED OF. 5. IN THE RESULT, MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 13 TH MARCH, 2015. . 2 - 1& $ 3 45 13.03.2015 1 - 6 SD/- SD/- (VIJAY PAL RAO ) (N.K. BILLAIYA) /JUDICIAL MEMBER $ / ACCOUNTANT MEMBER MUMBAI; 4 DATED 13 /03 /2015 . . ./ RJ , SR. PS M.A NO. 440/MUM/2014 3 2 2 2 2 - -- - *. *. *. *. 7&. 7&. 7&. 7&. / COPY OF THE ORDER FORWARDED TO : 1. ') / THE APPELLANT 2. *+') / THE RESPONDENT. 3. 8 ( ) / THE CIT(A)- 4. 8 / CIT 5. 96 *. , , / DR, ITAT, MUMBAI 6. 6: ; / GUARD FILE. 2 2 2 2 / BY ORDER, +. *. //TRUE COPY// < << < / = = = = (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI