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Income Tax Appellate Tribunal, INDORE BENCH, INDORE
Before: SHRI KUL BHARAT & SHRI MANISH BORAD
ITA Nos.625 to 627 of 2017 1 MPFC, Indore IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE
BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER And SHRI MANISH BORAD, ACCOUNTANT MEMBER
ITA Nos. 625, 626 & 627/Ind/2017 A.Ys. 2000-01, 2001-02 & 2005-06
DCIT-3(1), Indore :: Appellant
Vs
M/s. Madhya Pradesh Financial Corporation, Indore PAN – AADCM 6480 C :: Respondent
Department by Smt. Ashima Gupta, CIT Assessees by Shri Ashish Goyal and Shri N.D. Patwa, Advocates Date of hearing 18.10.2018 Date of pronouncement 23.10.2018
O R D E R Per Shri Kul Bharat, JM These three appeals are filed by the Revenue against the orders of
ld. CIT(A)-I, Indore dated 15.6.2017.
ITA Nos.625 & 626/Ind/2017 (A.Ys. 2000-01 & 2001-02)
Both these appeals are filed by the Revenue raising the following
common grounds:
Whether on the facts and in circumstances of the case, ld. CIT(A) is justified in directing to delete the additions of
ITA Nos.625 to 627 of 2017 2 MPFC, Indore Rs.4,48,44,418/- & Rs.5,01,17,340/- for the assessment years 2000-01 & 2001-02, respectively, made by the Assessing Officer in respect of rebate, decompounding and waiver of interest etc. without appreciating facts of the case in totality.
Whether on the facts and in circumstances of the case, ld. CIT(A) was justified in holding that taxation as per MAT provisions u/s 115JA/115JB were not applicable to the assessee in the years under consideration.
At the outset of the hearing, ld. counsel for the assessee
contended that the above issue is squarely covered by the decision of
ITAT, Indore in assessee’s own case vide order dated 16.8.2016 which
was followed by this very Bench in assessee’s own case vide order
dated 26.7.2018 in ITA Nos.50 & 144/Ind/2017. Ld. CIT/DR conceded
the fact that the same issue has been decided against the Revenue by
the ITAT, Indore.
We have heard both the parties and perused the orders of lower
authorities. We find that issue is squarely covered against the Revenue
by the decision of ITAT, Indore in assessee’s own case vide order dated
16.8.2016 in ITA Nos. 117 to 119/Ind/2016 & order dated 26.7.2018 in
ITA Nos.50 & 144/Ind/2017 (copies of the orders are filed before us). Ld.
CIT/DR could not controvert this fact by bringing any contrary material
on record. Thus, the issue is against the Revenue and by following the
aforesaid orders of the ITAT, Indore, we confirm the orders of the ld.
ITA Nos.625 to 627 of 2017 3 MPFC, Indore CIT(A) in the present assessment years. Thus, departmental appeals
for both the assessment years are dismissed.
ITA Nos.627/Ind/2017 (A.Y. 2005-06)
This appeal is filed by the Revenue raising the following common
grounds:
Whether on the facts and in circumstances of the case, ld. CIT(A) is justified in deleting the addition made by the Assessing Officer under normal provisions of Act on account of interest income of Rs.14,84,685/- for the period prior to 31.3.1990 and claimed as deduction even when the assessee is following cash system of accounting, therefore he should have shown the income which has been received by the assessee during the F.Y. 2004-05.
Whether on the facts and in circumstances of the case, ld. CIT(A) is justified in directing to delete the addition of Rs.45,45,91,163/- made by the Assessing Officer in respect of rebate, decompounding and waiver of interest etc. without appreciating facts of the case in totality.
Whether on the facts and in circumstances of the case, ld. CIT(A) was justified in deleting the addition made by the Assessing Officer on account of interest income of Rs.14,84,685/- without appreciating the factual position of the issue under the MAT provisions.
Whether on the facts and in circumstances of the case, ld. CIT(A) is justified in deleting the addition made by the Assessing Officer on account of rebate, decompounding and waiver of interest of Rs.45,45,91,163/- without appreciating the factual position of the issue under the MAT provisions.
ITA Nos.625 to 627 of 2017 4 MPFC, Indore 6 At the outset of the hearing, ld. counsel for the assessee
contended that the ground no.1 in respect of interest income is squarely
covered against the Revenue in assessee’s own case by the decision of
jurisdictional High Court vide order dated 13.4.2007 reported in (2008)
173 Taxman 44 (MP) which was followed by this very Bench in
assessee’s own case vide order dated 26.7.2018 in ITA Nos.50 &
144/Ind/2017. Ground No.2 in respect of rebate, decompounding and
waiver of interest is squarely covered against the Revenue in assessee’s
own case by the decision of ITAT, Indore vide order dated 19.10.2006 in
ITA Nos.739 to 743/Ind/2005 which was followed by this very Bench in
assessee’s own case vide order dated 26.7.2018 in ITA Nos.50 &
144/Ind/2017. And ground nos. 3 & 4 in respect of applicability of MAT is
also squarely covered by the decision of ITAT, Indore in assessee’s own
case vide order dated 16.8.2016 which was followed by this very Bench
in assessee’s own case vide order dated 26.7.2018 in ITA Nos.50 &
144/Ind/2017. Ld. CIT/DR conceded the fact that these grounds have
been decided against the Revenue by the ITAT, Indore.
We have heard both the parties and perused the orders of lower
authorities. We find that the above issues are squarely covered against
the Revenue by the aforesaid decisions of the jurisdictional High Court
or ITAT, Indore, as the case may be, in assessee’s own case (copies of
ITA Nos.625 to 627 of 2017 5 MPFC, Indore the orders are filed before us). Ld. CIT/DR could not controvert this fact
by bringing any contrary material on record. Thus, the issues are against
the Revenue and by following the aforesaid orders, we confirm the order
of the ld. CIT(A) in the present assessment year. Thus, departmental
appeal for this year too is dismissed.
Finally, all three departmental appeals are dismissed.
Order was pronounced in the open court on 23.10.2018.
Sd/- Sd/- ( MANISH BORAD) (KUL BHARAT) ACCOUNTANT MEMBER JUDICIAL MEMBER
Dated : 23.10.2018 !vyas! Copy to: Appellant/Respondent/CIT(A)/Pr.CIT/DR, Indore