Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 6381 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
29 day(s)
Appellant
Respondent
Appeal Type
Miscellaneous Application
Pronouncement Date
30-04-2019
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
D
Next Hearing Date
-
Assessment Year
2009-2010
Appeal Filed On
01-04-2019
Judgement Text
, , IN THE INCOME-TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . , . , BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER & SHRI DUVVURU RL REDDY, JUDICIAL MEMBER M.P. NO. 77/CHNY/2019 [IN I.T.A.NO.406/CHNY/2018] ASSESSMENT YEAR: 2009-10 M/S. TAMILNADU CHEMISTS & ALLIED DISTRIBUTORS ALLIANCE LTD. [IN LIQUIDATION], D-36, 8 TH FLOOR, HALLS TOWER, NO. 33, HALLS ROAD, EGMORE, CHENNAI 600 008. [PAN:AACCT7540H] VS. THE INCOME TAX OFFICER, CORPORATE WARD 3(1), CHENNAI 600 006. ( /APPELLANT ) ( / RESPONDENT ) / APPELLANT BY : SHRI R. VISWANATHAN, C.A. / RESPONDENT BY : SHRI B. SAGADEVAN, JCIT / DATE OF HEARING : 26.04.2019 /DATE OF PRONOUNCEMENT : 30.04.2019 / O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER: BY MEANS OF PRESENT MISCELLANEOUS PETITION, THE ASSESSEE SEEKS TO RECTIFY THE ORDER OF THE TRIBUNAL PASSED IN I.T.A. NO. 406/CHNY/2018 DATED 15.10.2018 RELEVANT TO THE ASSESSMENT 2009-10 BY STATING THAT THE TRIBUNAL CONFIRMED THE ORDER OF THE LD. CIT(A) THAT THE LD. CIT(A) HAS RIGHTLY HELD THAT THE ROC FEES PAID FOR INCREASE IN AUTHORIZED SHARE CAPITAL OF A COMPANY IS A CAPITAL EXPENDITURE IN NATURE AND HENCE CANNOT BE ALLOWED AS AN ALLOWABLE M.P. NO. 77 /CHNY/2019 2 DEDUCTION IS A MISTAKE APPARENT ON RECORD SINCE THE ROC FEES PAID FOR INCREASE IN SHARE WAS DISALLOWED BY THE PETITIONER AT THE TIME OF FILING OF RETURN OF INCOME AND PRAYED FOR SUITABLE RECTIFICATION. 2. PER CONTRA, THE LD. DR HAS SUBMITTED THAT THERE IS NO MISTAKE APPARENT IN THE ORDER PASSED BY THE TRIBUNAL AND REVIEW OF THE ORDER OF THE TRIBUNAL IS NOT PERMISSIBLE UNDER SECTION 254(2) OF THE ACT. 3. WE HAVE HEARD BOTH THE SIDES, PERUSED THE ORDER OF THE TRIBUNAL. IN THE GROUNDS OF ORIGINAL APPEAL, THE ASSESSEE HAS RAISED A SPECIFIC GROUND AND THE SAME IS REPRODUCED AS UNDER: 2.1 THE LEARNED CIT(A) ERRED IN STATING THAT THE FEES PAID TO ROC WERE RIGHTLY DISALLOWED, ON ERRONEOUS UNDERSTANDING OF FACTS. 4. AGAINST THE ABOVE GROUND, THE TRIBUNAL HAS OBSERVED AS UNDER: 6.3 AS HAS BEEN HELD BY THE HONBLE SUPREME COURT REFERRED TO ABOVE, THE LD. CIT(A) HAS RIGHTLY HELD THAT THE ROC FEES PAID FOR INCREASE IN AUTHORIZED SHARE CAPITAL OF A COMPANY IS A CAPITAL EXPENDITURE IN NATURE AND HENCE CANNOT BE ALLOWED AS AN ALLOWABLE DEDUCTION. THUS, WE FIND NO REASON TO INTERFERE WITH THE ORDER PASSED BY THE LD. CIT(A) ON THIS ISSUE AND ACCORDINGLY, THE GROUND RAISED BY THE ASSESSEE STANDS DISMISSED. THE GROUND RAISED BY THE ASSESSEE EMANATES FROM THE APPELLATE ORDER AND NOT IN DISPUTE, AGAINST WHICH, BY FOLLOWING THE HONBLE SUPREME COURT DECISION, THE TRIBUNAL SUSTAINED THE ORDER OF THE LD. CIT(A). THUS, WE FIND NO M.P. NO. 77 /CHNY/2019 3 MISTAKE APPARENT ON RECORD AND ACCORDINGLY, THE PETITION FILED BY THE ASSESSEE STANDS DISMISSED. 5. IN THE RESULT, THE MP FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED ON THE 30 TH APRIL, 2019 AT CHENNAI. SD/- SD/- (ABRAHAM P. GEORGE) ACCOUNTANT MEMBER (DUVVURU RL REDDY) JUDICIAL MEMBER CHENNAI, DATED, THE 30.04.2019 VM/- /COPY TO: 1. / APPELLANT, 2. / RESPONDENT, 3. ( ) /CIT(A), 4. /CIT, 5. /DR & 6. /GF.
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