Bajaj Allianz General Insurance Co. Ltd., Pune V. Deputy Commissioner of Income-tax,

MA 52/PUN/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5809 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-09-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 16-06-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 30-08-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE , , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM . / MA NO. 5 2 /P U N/ 20 1 6 ARISING OUT OF ITA NO. 2560 /P U N/20 1 2 ASSESSMENT YEAR : 200 8 - 09 BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD., 1 ST FLOOR, GE PLAZA, AIRPORT ROAD, PUNE 411006 ... APPLICANT PAN: A ABCB5730G VS. THE DY. COMMISSIONER OF INC OME TAX, CIRCLE 1(1) , PUNE ... RESPONDENT APPLICANT BY : SMT. VASANTI PATEL AND SHRI NIKHIL MUTHA RESPONDENT BY : SHRI ACHAL SHARMA / DATE OF HEARING : 16 . 0 6 .201 7 / DATE OF PRONOUNCEMENT: 13 . 0 9 .201 7 / ORDER PER SUSHMA CHOWLA , JM : THE APPLICANT HAS FILED PRESENT MISCELLANEOUS APPLICATION AGAINST THE ORDER OF TRIBUNAL IN ITA NO. 2560 /PN/201 2 RELATING TO ASSESSMENT YEAR 2008 - 09, ORDER DATED 03.02.2016 . 2. THE APPLICANT IS AGGRIEVED BY THE ORDER OF TRIBUNAL IN UPHOLDING THE DISALLOWANCE SUO MOTO MADE BY THE APPLICANT UNDER SECTION 14A OF THE ACT AT RS.49,83,732/ - IN THE COMPUTATION OF TAXABLE INCOME. THE TRIBUNAL HAD 2 M A NO. 5 2 /P U N/20 1 6 ARISING O UT OF ITA NO. 2560 /P U N/ 20 1 2 ADJUDICATED THE ISSUE OF NON - APPLICABILITY OF SAID SECTION IN FAVOUR OF APPLICAN T AND HENCE, IT IS PLEADED THAT ONCE THE PROVISIONS OF SECTION 14A OF THE ACT ARE NOT TO BE APPLIED, THEN THE AMOUNT OFFERED TO TAX SHOULD BE REDUCED WHILE COMPUTING THE ASSESSED INCOME. THE APPLICANT PLEADS THAT HAVING HELD THAT SECTION 14A OF THE ACT IS NOT APPLICABLE, THE SUSTAINING OF DISALLOWANCE UNDER SECTION 14A OF THE ACT CONSERVATIVELY APPLIED BY THE APPLICANT IS A MISTAKE APPARENT FROM RECORD. THE LEARNED AUTHORIZED REPRESENTATIVE FOR THE APPLICANT IN THIS REGARD H AS PLEADED THAT THE SAID MISTAK E IS APPARENT FROM THE RECORD AND MAY BE RECTIFIED AND IN THIS REGARD, RELIANCE WAS PLACED ON THE RATIO LAID DOWN BY THE HONBLE SUPREME COURT IN HONDA SIEL POWER PRODUCTS LTD. VS. CIT (2007) 165 TAXMAN 307 (SC). 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE ON THE OTHER HAND, POINTED OUT THAT THE APPLICANT S UO MOTO HAS MADE THE SAID DISALLOWANCE AND THE SAME WAS UPHELD AND IT IS NOT A MISTAKE APPARENT FROM RECORD. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORD. THE ISSUE ARIS ING IN THE PRESENT MISCELLANEOUS APPLICATION FILED BY THE APPLICANT IS AGAINST THE ISSUE WHICH ARISES ON ACCOUNT OF SUM WHICH WAS OFFERED BY THE APPLICANT FOR TAXATION IN ITS RETURN OF INCOME. THE APPLICANT HAD ON ITS OWN MOTION DISALLOWED RS.49,83,732/ - UNDER SECTION 14A OF THE ACT AND OFFERED THE SAME AS ITS INCOME FOR THE YEAR UNDER CONSIDERATION IN ITS RETURN OF INCOME. THE ISSUE WHICH WAS RAISED BEFORE THE TRIBUNAL WAS WHETHER THE PROVISIONS OF SECTION 14A OF THE ACT ARE ATTRACTED OR NOT. THE TRIBUN AL VIDE ORDER DATED 03.02.2016 HELD THAT THE PROVISIONS OF SECTION 14A OF THE ACT ARE NOT ATTRACTED IN COMPUTING THE INCOME IN THE HAND OF APPLICANT. HOWEVER, THE DISALLOWANCE MADE BY THE APPLICANT ON ITS OWN MOTION WAS UPHELD IN THE HANDS OF APPLICANT. THE SAID VIEW WAS TAKEN BY THE TRIBUNAL ON THE FACTS AND CIRCUMSTANCES. SUCH A DECISION CANNOT BE RECTIFIED AS MISTAKE 3 M A NO. 5 2 /P U N/20 1 6 ARISING O UT OF ITA NO. 2560 /P U N/ 20 1 2 APPARENT FROM THE RECORD. THE ISSUE OF ALLOWABILITY OF DISALLOWANCE MADE BY THE APPLICANT SUO MOTO IN THE HANDS OF APPLICANT INVOLVING THE ARGUMENTS AND APPLICATION OF MIND, CANNOT BE CATEGORIZED AS MISTAKE APPARENT FROM MISTAKE. HENCE, THE MISCELLANEOUS APPLICATION MOVED BY THE APPLICANT IS DISMISSED. THE RATIO LAID DOWN BY THE HONBLE SUPREME COURT IN HONDA SIEL POWER PRODUCTS LTD. VS. CIT (SUPRA) IS NOT APPLICABLE TO THE FACTS OF THE PRESENT CASE AND HENCE, WE FIND NO MERIT IN THE STAND OF APPLICANT AND THE SAME IS DISMISSED. 5 . IN THE RESULT, THE MISCELLANEOUS APPLICATION OF APPLICA NT IS DISMISSED. ORDER P RONOUNCED ON THIS 13 TH DAY OF SEPTEMBER , 201 7 . SD/ - SD/ - ( ANIL CHATURVEDI ) ( SUSHMA CHOWLA ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE ; DATED : 13 TH SEPTEMBER , 2017 . GCVSR / COPY OF THE ORDER IS FORWARDED TO : 1. THE APP LICANT ; 2. THE RESPONDENT; 3. THE DIT (INTL. TAXATI ON) , PUNE ; 4. THE DRP, PUNE ; 5. THE DR A, ITAT, PUNE; 6. GUARD FILE . / BY ORDER , // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE