Towers Watson India P.Ltd, vs Assessee

आयकर अपील य अ धकरण, मब ुं ई यायपीठ 'के' मब ुं ई । IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH "K", MUMBAI

सव ी राजे , लेखा सद य एवं ी संजय गग, या यक सद य के सम । BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER

MA No.95/M/2015 (Arising out of SA 91/M/2015 in ITA No.1140/M/2015) ( नधारण वष / Assessment Year: 2010-11)

M/s. Towers Watson India The ACIT, Circle - 11(3)1, Pvt. Ltd., Room No.427, 4th Floor, 511/512, Solitaire Corporate Aayakar Bhavan, Park, बनाम/Vs. M.K. Road, 151, Andheri Kurla Road, Mumbai - 400 020 Andheri (East), Mumbai - 400 093 PAN: AAACG2955K (अपीलाथ /Appellant) ( यथ /Respondent)

Present for :

Assessee by : Shri M.P. Lohia, A.R. Revenue by : Shri Vivek Perampurna, D.R.

सन ु वाई क तार ख/ Date of Hearing : 08.05.2015 घोषणा क तार ख /Date of Pronouncement : 08.05.2015

आदे श / O R D E R

Per Sanjay Garg, Judicial Member:

The present miscellaneous application has been moved by the assessee pleading that an error on record has occurred in the order dated 27.03.15 passed in SA No.91/M/2015 arising out of ITA No.1140/M/2015.

2 MA No.95/M/2015 (Arising out of SA 91/M/2015 in ITA No.1140/M/2015) M/s. Towers Watson India Pvt. Ltd.

2. The Ld. A.R. of the assessee has submitted that the Bench had granted the stay of demand subject to payment by the applicant 50% of Rs.1,33,10,497/- which amount has been calculated by the assessee in his chart Exhibit-3 placed at page 7 of the paper book. The Ld. A.R. has submitted that the Bench had considered the submissions of the assessee that if the brought forward loss of Rs.2,69,45,007/- would be set off from the income of the current year, there will not be any tax demand against the assessee.

3. Submissions of the Ld. A.R. has been considered. The Ld. D.R. has also been heard in this respect.

4. We find that after considering the submissions of the Ld. A.R., the Bench had granted the stay of recovery of outstanding tax demand subject to payment of 50%of the amount of Rs.1,33,10,497/-. However, while dictating the order the figure has been wrongly written as Rs.2,77,22,720/- which actually was the amount of relief granted to the assessee by the Ld. D.R. Hence, a mistake apparent on record has crept in the order dated 27.03.15 and the same requires rectification. We therefore direct that para 3 & 4 of the order dated 27.03.15 be substituted and read as under:

"3. Today, the Ld. A.R. of the assessee has stated that the applications of the assessee have been decided by the AO as well as the DRP and the tax demand has been considerably reduced. He has submitted a chart to show that after the order dated 20.03.2015 passed by the DRP on the application of the assessee, the outstanding demand now will remain at Rs.2,79,11,797/-. He has further submitted that the assessee has a fair case and the impugned additions/tax demand is likely to be deleted in the appeal before this Tribunal. The Ld. A.R. has further submitted that even if the assessee is allowed the set off of brought forward losses of Rs.2,69,45,007/- the outstanding demand will be reduced to nil.

4. Considering the overall facts and circumstances of the case, we are of the view that the interest of justice will be well served if the outstanding demand is stayed subject to payment of 50% of the amount of Rs.1,33,10,497/- which the assessee has calculated in the chart Exhibit-3 placed at page 7 of the paper book. We accordingly, stay the recovery of the outstanding tax demand subject to deposit 3 MA No.95/M/2015 (Arising out of SA 91/M/2015 in ITA No.1140/M/2015) M/s. Towers Watson India Pvt. Ltd.

of 50% of the amount of Rs.1,33,10,497/- in two equal installments on or before 30th April 2015."

5. We order accordingly. Necessary corrigendum is being issued in this respect, the copy of the same be attached with the original order dated 27.03.2015.

Order pronounced in the open court on 08.05.2015.

आदे श क घोषणा खल ु े यायालय म दनांकः 08.05.2015 को क गई ।

Sd/- Sd/- (राजे / Rajendra) (संजय गग / Sanjay Garg) लेखा सद य / ACCOUNTANT MEMBER या यक सद य / JUDICIAL MEMBER

ु ई/Mumbai; मंब दनांक/Dated 08.05.2015

* Kishore

आदे श क त ल प अ े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. आयकर आयु त(अपील) / The CIT(A)- 4. आयकर आयु त / CIT 5. वभागीय त न ध, आयकर अपील य अ धकरण, मुंबई / DR, ITAT, Mumbai

6. गाड फाईल / Guard file.

ु ार/ BY ORDER, आदे शानस

स या पत त //True Copy//

उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, मंब ु ई / ITAT, Mumbai