Landis + Gyr Limited, South 24 Parganas v. DCIT, Circle - 1, Kolkata, Kolkata

ITA 1999/KOL/2010 | 2006-2007
Pronouncement Date: 28-07-2011 | Result: Dismissed

Appeal Details

RSA Number 199923514 RSA 2010
Assessee PAN AAACV9922B
Bench Kolkata
Appeal Number ITA 1999/KOL/2010
Duration Of Justice 8 month(s) 25 day(s)
Appellant Landis + Gyr Limited, South 24 Parganas
Respondent DCIT, Circle - 1, Kolkata, Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 28-07-2011
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 28-07-2011
Assessment Year 2006-2007
Appeal Filed On 02-11-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : KOLKATA [ . . . . . .. . ! ! ! ! ] [BEFORE HONBLE SHRI S.V. MEHROTRA AM & HONBLE SHRI MAHAVIR SINGH JM !' !' !' !' / I.T.A NO. 1999/KOL/2010 #$ %& #$ %& #$ %& #$ %&/ // / ASSESSMENT YEAR : 2006-07 LANDIS + GYR LIMITED -VS.- DY. COMMISSIONER OF INCOME TAX SOUTH 24-PARGANAS [PAN : AAACV 9922 B] CIRCLE-I KOLKATA. [ () () () () /APPELLANT ] ]] ] [ + () + () + () + ()/ // / RESPONDENT ] ]] ] () () () () / FOR THE APPELLANT : SHRI KAPIL BASU + () + () + () + () / FOR THE RESPONDENT : SHRI S. K. ROY - /ORDER . . . . . .. . PER S. V. MEHROTRA A. M. THE ASSESSEE HAS PREFERRED THIS APPEAL FOR ASSESSM ENT YEAR 2006-07 AGAINST THE ORDER OF DISPUTE RESOLUTION PANEL KOLKOTA DATED 06.08.2010 U/S. 144C(5) OF THE INCOME TAX ACT. 2. THE ONLY GROUND OF APPEAL IN THE PRESENT APPEAL IS REGARDING LEVY OF INTEREST U/S. 234B OF THE ACT WHILE COMPUTING BOOK PROFIT AS PER PROVISIO NS OF SECTION 115JB. ASSESSING OFFICER HADE PASSED THE ORDER U/S. 144C(5)/143(3) DETERMINING TH E COMPUTED BOOK PROFIT U/S. 115JB AT RS.7 84 52 814/- AND THE TOTAL INCOME AT RS.58 83 9 61/- BEING 7.5% OF BOOK PROFIT AS AGAINST NIL INCOME ASSESSED BY ASSESSEE. HE LEVIED INTERE ST U/S. 234B & 234C. THE DISPUTE RESOLUTION PANEL WHILE ISSUING DIRECTIONS U/S. 144C(5) CONFIRM ED THE FINDINGS OF THE ASSESSING OFFICER LEVYING INTEREST U/S. 234B & 234C OF THE ASSESSED B OOK PROFIT FOR THE ASSESSEES DEFAULT OF NON- PAYMENT OF ADVANCE TAX AS PER LAW. [ ITA NO. 1999/KOL/2010] 2 3. THE ASSESSEE BEING AGGRIEVED WITH THE ASSESSMEN T ORDER PASSED U/S. 144C(5)/143(3) IS IN APPEAL BEFORE US ON THE ISSUE OF LEVY OF INTEREST U /S. 234B & 234C. 4. HAVING HEARD BOTH THE PARTIES AND IN VIEW OF THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF JCIT VS. ROLTA INDIA LIMITED [2011] 330 ITR 470 (SC) WE FIND THAT THE ISSUE IS COVERED AGAINST THE ASSESSEE WHEREIN IT HAS BEEN HELD AS UN DER :- IT IS CLEAR FROM READING SECTIONS 115JA AND 115JB OF THE INCOME TAX ACT 1961 THAT THE QUESTION WHETHER A COMPANY WHIC H IS LIABLE TO PAY TAX UNDER EITHER PROVISION DOES NOT ASSUME IMPORTANCE BECAUSE SPECIFIC PROVISION IS MADE IN THE SECTION SAYING THAT ALL OTHER PROVISIONS OF THE ACT SHALL APPLY TO A MAT COMPANY (SECTION 115JA(4) AND SECTION 115JB(5) ). S IMILARLY AMENDMENTS HAVE BEEN MADE IN THE RELEVANT FINANCE ACTS PROVIDING FO R PAYMENT OF ADVANCE TAX UNDER SECTIONS 115JA AND 115JB. SECTION 234B IS CLE AR THAT IT APPLIES TO ALL COMPANIES. THE PRE-REQUISITE CONDITION FOR APPLICAB ILITY OF SECTION 234B IS THAT THE ASSESSEE IS LIABLE TO PAY TAX UNDER SECTION 208 AND THE EXPRESSION 'ASSESSED TAX' IS DEFINED TO MEAN THE TAX ON THE TOTAL INCOME DETERMINED UNDER SECTION 143(1) OR UNDER SECTION 143(3) AS REDUCED BY THE AM OUNT OF TAX DEDUCTED OR COLLECTED AT SOURCE. THUS THERE IS NO EXCLUSION OF SECTION 115J / 115JA IN THE LEVY OF INTEREST UNDER SECTION 234B. THE EXPRESSION 'ASSESSED TAX' IS DEFINED TO MEAN THE TAX ASSESSED ON REGULAR ASSESSMENT WHICH M EANS THE TAX DETERMINED ON THE APPLICATION OF SECTION 115J / 115JA IN THE REGU LAR ASSESSMENT. INTEREST UNDER SECTION 234B IS PAYABLE ON FAILURE T O PAY ADVANCE TAX IN RESPECT OF TAX PAYABLE UNDER SECTION 115JA. 7. IN THE RESULT THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. - - - - . . . . / .# 0 1 / .# 0 1 / .# 0 1 / .# 0 1 2 2 2 2 ORDER PRONOUNCED IN THE OPEN COURT ON 28. 07. 2011 SD/- SD/- [ ! ] [ .. ] [ MAHAVIR SINGH ] [ S.V. MEHROTRA ] JUDICIAL MEMBER ACCOUNTANT MEMBER ( (( (2 2 2 2) )) ) DATED : 28 TH JULY 2011. [ ITA NO. 1999/KOL/2010] 3 - 5 + 6 76%/ COPY OF THE ORDER FORWARDED TO: 1. () /APPELLANT :M/S. LANDIS + GYR LIMITED DIAMOND HAR BOUR ROAD P.O. JOKA 24 PARGANAS (SOUT H) PIN-700014. 2 + () / RESPONDENT : DY. COMMISSIONER OF INCOME TAX CIR CLE-I P-7 CHOWRINGHEE SQUARE KOLKATA -700 069. 3. -# / CIT 4. -# ()/ CIT(A) KOLKATA. 5. 0 + #/ DR KOLKATA BENCHES KOLKATA [ 6 + / TRUE COPY] -#./ BY ORDER !> /ASSTT REGISTRAR [KKC ?@ #A> B /SR.PS]