KANSAI NEROLAC PAINT LTD, V. ADDL CIT RG 6(3),

MA 477/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0093 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-02-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2001-2002
• Appeal Filed On: 18-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B MUMBAI . . , . / BEFORE SHRI B.R. MITTAL, JUDICIAL MEMBER / AND , SHRI RAJENDRA, ACCOUNTANT MEMBER M.A. NO. 477/MUM/2012 (ARISING OUT OF ITA NO. 2519/MUM/2005) ASSESSMENT YEAR 2001-02 M/S. KANSAI NEROLAC PAINTS LTD., (ERSTWHILE KNOWN AS GOODLASS NEROLAC PAINTS LTD) NEROLAC HOUSE, G.K. MARG, LOWER PAREL, MUMBAI 400 013. PAN: AAACG 1376 N VS. ADDL. COMMISSIONER OF INCOME TAX, RANGE 6(3), MUMBAI. (APPLICANT) (RESPONDENT) APPLICANT BY : MS. AARTI VISSANJI RESPONDENT BY : SHRI MOHIT JAIN !' / DATE OF HEARING : 08-02-2013 #$% !' / DATE OF PRONOUNCEMENT : 08-02-2013 & / O R D E R PER RAJENDRA, A.M. VIDE MISCELLANEOUS APPLICATION DT. 18-07-2012, ASS ESSEE-COMPANY HAS SUBMITTED THAT FOLLOWING MISTAKES WERE APPARENT FRO M THE RECORDS IN THE MATTER OF ITA NO. 2519/MUM/2005 AY. 2001-02. I. WHILE DISPOSING OFF THE SAID APPEAL ON 28-03-2012, TRIBUNAL HAD NOT ADJUDICATED GROUND OF APPEAL NO. II. II. SIMILARLY, GROUND OF APPEAL NO. VI WAS ALSO NOT ADJ UDICATED UPON BY THE TRIBUNAL. M.A. NO. 477/MUM/2012 (ARISING OUT OF ITA NO. 2519/MUM/2005) 2 3. AUTHORISED REPRESENTATIVE (AR) SUBMITTED THAT GROU ND OF APPEAL NOS. II AND VI HAVE REMAINED UNDECIDED IN THE ORDER DT. 28-03-2 012. DEPARTMENTAL REPRESENTATIVE (DR) AGREED WITH THE SUBMISSIONS OF THE ASSESSEE-COMPANY. 4. WE FIND THAT ASSESSEE-COMPANY HAD RAISED THE FOLLOW ING GROUNDS OF APPEAL AT SR. NOS. II AND VI IN THE APPEAL FILED FOR THE AY 2 001-02. GROUND NO. II ON FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN UPHOL DING THE ACTION OF ASSESSING OFFICER OF NOT GRANTING DEDUCTION OF RS.14,70,263 U NDER SECTION 350. GROUND NO. VI ON FACTS AND CIRCUMSTANCES OF THE C ASE AND IN LAW, THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) ERRED IN UPHOL DING ACTION OF THE ASSESSING OFFICER OF ADDITION OF MODVAT CREDIT OF RS. 3,86,76 ,373/- TO THE CLOSING STOCK AND GRANTING ONLY PARTIAL RELIEF BY DIRECTING THE ASSES SING OFFICER TO INCLUDE THE MODVAT CREDIT IN OPENING STOCK. 5. WE FURTHER FOUND THAT IN THE ORDERS PASSED BY THE B BENCH OF MUMBAI TRIBUNAL, BOTH THE GROUNDS HAVE NOT BEEN DEALT OR D ECIDED. 6. THEREFORE, THE MATTER IS RESTORED BACK TO THE FILE OF THE B BENCH OF THE TRIBUNAL FOR DECIDING GROUND NOS. II & VI RAISED BY THE ASSESSEE-COMPANY. 7. MISCELLANEOUS APPLICATION FILED BY THE APPELLANT-CO MPANY STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH FEBRUARY, 2013. & #$% ( )* 8 +' , 2013 $ , - SD/- SD/- ( . . / B.R. MITTAL ) ( / RAJENDRA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI, ) DATE: 8 TH FEBRUARY, 2013 TNMM M.A. NO. 477/MUM/2012 (ARISING OUT OF ITA NO. 2519/MUM/2005) 3 COPY TO: 1. APPLICANT 2. RESPONDENT 3. THE CONCERNED CIT (A) 4. THE CONCERNED CIT 5. DR B BENCH, ITAT, MUMBAI 6. GUARD FILE ./! 0! //TRUE COPY// & & & & / BY ORDER, 1 11 1 / 2 2 2 2 DY./ASST. REGISTRAR , / ITAT, MUMBAI