HIND FILTERS LTD, V. ITO RG 3(1)(4),

MA 483/MUM/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 9414 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-10-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2001-2002
• Appeal Filed On: 24-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: DIVYESH I SHAH
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH F, MUMBAI BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER. M.A. NO. 483/MUM/2012 (IN ITA NO. 6291/MUM/2004) ASSESSMEN T YEAR : 2001-02. M/S HIND FILTERS LTD., THE INCOME-TAX OFFICER,, 1521/1522, MAKER CHAMBER-V, VS. RANGE-3(1)(4), BACKBAY RECLAMATION, MUMBAI. NARIMAN POINT, MUMBAI 400 021. PAN AAACH 039L APPLICANT. RESPONDENT. APPLICANT BY : SHRI DIVYESH I. SHAH.. RESPON DENT BY : SHRI RAKESH RANJAN. DATE OF HEARING : 12-10-2012. DATE OF PRON OUNCEMENT : 17-10-2012. O R D E R. PER P.M. JAGTAP, A.M. : BY THIS MISCELLANEOUS APPLICATION, THE ASSESSEE IS SEEKING RECTIFICATION OF THE MISTAKE ALLEGED TO HAVE CREPT IN THE ORDER OF THE T RIBUNAL DATED 22 ND AUGUST, 2008 PASSED IN ITA NO.6291/MUM/2004. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THE ISSUE I NVOLVED IN GROUND NO.2 OF THE ASSESSEES APPEAL BEING ITA NO. 6291/MUM/2004 RELAT ING TO DISALLOWANCE U/S 14A WAS DECIDED BY THE TRIBUNAL BY DIRECTING THE AO TO COMPUTE THE DISALLOWANCE TO BE MADE U/S 14A BY APPLYING RULE 8D OF THE INCOME-T AX RULES, 1962 WHICH 2 M.A.NO.483/MUM/2012 ACCORDING TO THE TRIBUNAL WAS APPLICABLE TO ALL THE PENDING PROCEEDINGS. AS SUBMITTED BY THE ASSESSEE IN THE PRESENT MISCELLANE OUS APPLICATION, HONBLE BOMBAY HIGH COURT HIGH COURT IN THE CASE OF GODREJ BOYCE AND MFG. CO. LTD. 234 CTR 1 HAS HELD THAT RULE 8D OF INCOME-TAX RULES , 1962 IS APPLICABLE FROM ASSESSMENT YEAR 2008-09 AND FOR THE YEARS PRIOR TO 2008-09, THE DISALLOWANCE U/S 14A IS REQUIRED TO COMPUTE ON SOME REASONABLE BASIS . THE DECISION RENDERED BY THE TRIBUNAL WHILE DECIDING GROUND NO.2 OF THE ASSE SSEES APPEAL VIDE ITS ORDER DATED 22 ND AUGUST, 2008 THUS IS NOT IN CONFORMITY WITH THE DE CISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF GODREJ BOY CE & MFG. CO. LTD. (SUPRA) AND TO THAT EXTENT THERE IS A MISTAKE APPARENT FROM REC ORD IN THE SAID ORDER. WE, THEREFORE, RECTIFY THE SAME BY MODIFYING THE SAID O RDER AND DIRECT THE AO TO COMPUTE THE DISALLOWANCE TO BE MADE U/S 14A ON SOME REASONABLE BASIS. 3. IN THE RESULT, THE MISCELLANEOUS APPLICATION FIL ED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 17 TH DAY OF OCTOBER, 2012. SD/- SD/- (VIVEK VARMA) (P.M. JAGTAP) JUDICIAL MEMBER ACCO UNTANT MEMBER MUMBAI, DATED: 17 TH OCT., 2012. 3 M.A.NO.483/MUM/2012 COPY TO : 1. APPLICANT. 2. RESPONDENT 3. C.I.T. 4. CIT(A) 5. DR, F-BENCH. (TRUE COPY) BY ORD ER ASSTT. R EGISTRAR, ITAT, MUMBAI BEN CHES, MUMBA I. WAKODE