Gujarat Urja Vikas Nigam Board., Baroda vs Assessee
- CitationITA No. 2916/Ahd/2012
Ratio decidendi
The rule this decision rests on
The Tribunal, having been told by the assessee's counsel and not disputed by the Revenue that the substantive issue arising from a fresh notice under section 148 for the same assessment year is the same disallowance under section 14A already remitted by an earlier Tribunal order, holds that where the Tribunal has already directed the Assessing Officer to re-adjudicate an issue in an earlier round for the same year, a later appeal raising that same issue is disposed of by restoring it to the Assessing Officer, who is already seized of it, to decide afresh in accordance with that earlier direction. A ground challenging the reopening of an assessment under section 147, which was not argued before the Tribunal, is treated as not pressed and is rejected on that account. A ground challenging interest under sections 234B, 234C and 234D is admitted as consequential to the re-computation of income, and the Tribunal directs the Assessing Officer to recompute that interest in accordance with law once the income is recomputed.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, AHMEDABAD BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND SHRI KUL BHARAT, JUDICIAL MEMBER आयकर अपील सं./ ./ ITA No. 2916/Ahd/2012 िनधा रण वष /Assessment Year: 2007-08 Gujarat Urja Vikas Nigam Ltd V/s. DCIT, Sardar Patel Vidyut Bhavan, Circle-1(1), Baroda Baroda PAN : AACCG 2861 L
अपीलाथ / अपीलाथ / (Appellant) ू!यथ यथ / थ / (Respondent)
Assessee(s) by : Shri M.K. Patel, AR Revenue by : Shri Dinesh Singh, Sr. DR.
सुनवाई क$ तार&ख/ / Dateof Hearing : 29/06/2015 घोषणा क$ तार&ख / Date of Pronouncement: 30/06/2015
आदे श/O R D E R
PER G.D. AGRAWAL, VICE PRESIDENT:
This is an appeal filed by the assessee and is directed against the order of the Ld. Commissioner of Income-tax (Appeals)-I, Baroda dated 30.10.2012, pertaining to Assessment Year 2007-08.
2. In this appeal by the assessee, following grounds are raised :-
1. The learned Commissioner of Income Tax (Appeals) erred in law and in facts has confirmed the re-opening of already completed assessment under section 147 of the Income Tax Act, 1961.
2. The learned Commissioner of Income Tax (Appeals) erred in law and on facts has confirmed the additions of Rs.12,83,95,000/- out of interest expenditure considering the same as attributable to exempt dividend income by invoking the provisions of section 14A of the Income Tax Act, 1961.
ITA No. 2916/Ahd/2012 Gujarat Urja Vikas Nigam Ltd vs. DCIT For AY 2007-08 2
3. The learned Commissioner of Income Tax (Appeals) erred in law and facts has confirmed the enhancement of the Book Profit computed under section 115JB of the Income Tax Act, 1961 by Rs.12,83,95,000/- on account of disallowance made under section 14A of the I.T. Act.
4. The learned Commissioner of Income Tax (Appeals) erred in law and in facts has dismissed the ground relating to the charging interest under section 234B, 234C and 234D of the Income Tax Act, 1961 on tax liability computed under section 115JB of the Income Tax Act, 1961.
5. The appellant craves leave to add to, alter, delete or modify any of the grounds of appeal either before or at the time of hearing of this appeal.
3. At the time of hearing before us, it was stated by the ld. Counsel that the only major ground in this appeal is with regard to disallowance u/s 14A while computing the income under the normal provisions of the Act as well as for the purpose of computation of book profit u/s 115JB. He stated that in the original assessment proceedings also disallowance u/s 14A was made and the matter travelled up to ITAT and the ITAT in ITA No.1874/Ahd/2010 set aside the issue back to the file of the Assessing Officer. He, therefore, submitted that in the present appeal also, which is only after the issue of notice u/s 148 for the same year, the only substantive issue is disallowance u/s 14A; therefore, the matter may be restored back to the file of the Assessing Officer who is already seized in the matter by virtue of earlier order of ITAT for the same year. The ld. Departmental Representative has no objection to this suggestion of the ld. Counsel. We, therefore, set aside the issue of disallowance u/s 14A for the purpose of normal computation as well as for the purpose of computation of book profit and restore the same back to the file of the Assessing Officer who will re-adjudicate the issue afresh as per the direction of the ITAT given in ITA No.1874/Ahd/2010.
ITA No. 2916/Ahd/2012 Gujarat Urja Vikas Nigam Ltd vs. DCIT For AY 2007-08 3
4. Before we part with the matter, we may point out here that no argument was advanced with regard to ground No.1, i.e. against the re- opening of assessment; therefore, we treat ground No.1 as not pressed and rejected as such.
5. Ground No. 4, which is against the charging of interest u/s 234B, 234C and 234D, was admitted to be consequential and we, therefore, direct the Assessing Officer to re-compute the interest u/s 234B, 234C and 234D, if any, in accordance with law after the re-computation of income.
6. In the result, the assessee's appeal is deemed to be partly allowed for statistical purposes.
Order pronounced in the Court on 30th June, 2015 at Ahmedabad.
Sd/- Sd/-
(KUL BHARAT) (G.D. AGRAWAL) JUDICIAL MEMBER VICE-PRESIDENT Ahmedabad; Dated 30/06/2015 Biju T., PS
षत Copy आदे श क$ ूितिल,प अमे,षत/ of the Order forwarded to : 1. अपीलाथ / The Appellant 2. ू!यथ / The Respondent. 3. संबंिधत आयकर आयु. / Concerned CIT 4. आयकर आयु.(अपील) / The CIT(A)
5. ,वभागीय ूितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड फाईल / Guard file.
/ BY ORDER, आदे शानु सार
TRUE COPY
Dy./Asstt.Registrar) उप/सहायक पंजीकार ( उप/ अिधकरण, अहमदाबाद / आयकर अपीलीय अिधकरण, ITAT, Ahmedabad
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