NATIONAL ORGANIC CHEMICALS INDUSTRIES LTD ( NOW KNOWN AS NOCIL LTD), MUMBAI v. DCIT 1(2), MUMBAI

ITA 8512/MUM/2011 | misc
Pronouncement Date: 27-11-2014

Appeal Details

RSA Number 851219914 RSA 2011
Assessee PAN AAACN4412D
Bench Mumbai
Appeal Number ITA 8512/MUM/2011
Duration Of Justice 2 year(s) 11 month(s) 12 day(s)
Appellant NATIONAL ORGANIC CHEMICALS INDUSTRIES LTD ( NOW KNOWN AS NOCIL LTD), MUMBAI
Respondent DCIT 1(2), MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 27-11-2014
Appeal Filed By Assessee
Bench Allotted B
Tribunal Order Date 27-11-2014
Date Of Final Hearing 27-11-2014
Next Hearing Date 27-11-2014
Assessment Year misc
Appeal Filed On 15-12-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH MUMBAI BEFORE SHRI D. KARUNAKARA RAO ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA JUDICIAL MEMBER ./I.T.A. NO. 8512/M/2011 ( AY: 1987 - 1988 ) ./I.T.A. NO. 8513/M/2011 ( AY: 1988 - 1989 ) NATIONAL ORGANIC CHEMICALS INDUSTRIES LTD (NOW KNOWN AS NOCIL LTD) MAFATLAL HOUSE 3 RD FLOOR BACKBAY RECLAMATION MUMBAI - 400 020. / VS. DCIT - 1(2) R.NO.620 AAYAKAR BHAVAN M.K. ROAD MUMBAI - 20. ./ PAN : AAACN4412DE ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI AJIT SHAH / RESPONDENT BY : SHRI AKHILENDRA YADAV SR. AR / DATE OF HEARING : 27.11.2014 / DATE OF PRONOUNCEMENT : 27.11.2014 / O R D E R PER D. KARUNAKARA RAO AM: THERE ARE TWO APPEALS UNDER CONSIDERATION. BOTH THE APPEALS ARE FILED BY THE ASSESSEE ON 15.12.2011 AGAINST THE DIFFERENT ORDERS OF THE CIT (A) - 2 MUMBAI COMMONLY DATED 20.9.2011 FOR THE ASSESSMENT YEARS 1987 - 88 AND 1988 - 89. SINCE THE SOLITARY GROUND RA ISED BY THE ASSESSEE IN BOTH THE APPEALS IS IDENTICAL THEREFORE FOR THE SAKE OF CONVENIENCE THEY ARE CLUBBED HEARD COMBINEDLY AND DISPOSED OF IN THIS CONSOLIDATED ORDER. APPEAL WISE ADJUDICATION IS GIVEN IN THE FOLLOWING PARAGRAPHS OF THIS ORDER. 2. A SSESSEE RAISED THE FOLLOWING SOLITARY GROUND FOR THE AYS 1987 - 88 AND AY 1988 - 89 WHICH READ AS UNDER: THE LD CIT (A) IN THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW OUGHT TO HAVE HELD THAT THE APPELLANT IS ENTITLED TO INTEREST U/S 214 / 244 OF THE INCOME TAX 2 ACT 1961 INSTEAD AND IN PLACE OF UNDER SECTION 244A OF THE ACT AS GRANTED BY THE ASS ESSING OFFICER FOR THE ASSESSMENT YEAR UNDER REFERENCE. 3. AT THE OUTSET DURING THE PROCEEDINGS BEFORE US LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO THE LETTER S DATED 25. 11.2014 FILED BY THE ASSESSEE FOR BOTH THE ASSESSMENT YEARS UNDER CONSIDE RATION WHEREI N THE ASSESSEE MENTIONED THAT THEY ARE NOT INTERESTED TO PURSUE THE RELIEFS CLAIMED IN THE SAID APPEALS THEREFORE THEY ARE NOT PRESSED . IN THIS REGARD LD COUNSEL READ OUT THE CONTENTS OF THE SAID LETTER S WHICH READ AS UNDER: 1. THE ABOVE REFERRED APPEAL FILED BY THE APPELLANT IS FIXED FOR HEARING ON 27 TH NOVEMBER 2014. THE APPEAL INVOLVE GROUND REFERABLE TO GRANTING OF INTEREST UNDER SECTION 214 / 244 OF THE INCOME TAX ACT 1961 (THE ACT) INSTEAD AND IN PLACE OF UNDER SECTION 244A OF THE ACT AS GRANTED BY THE ASSESSING OFFICER FOR THE ASSESSMENT YEAR 1987 - 88. 2. WITH THIS LETTER WE STATE HERE THAT WE DO NOT WANT TO PURSUE THE RELIEFS CLAIMED IN THE SAID APPEAL PETITION. UNDER THE CIRCUMSTANCES THE APPELLANT DOES NOT WANT TO PRESS THE S AID GROUND. 4. AFTER HEARING THE LD DR IN THI S REGARD WE DISMISS THE GROUND RAISED BY THE ASSESSEE IN BOTH THE APPEALS AS NOT PRESSED. ACCORDINGLY GROUNDS RAISED BY THE ASSESSEE ARE DISMISSED. 5. IN THE RES ULT BOTH THE APPEALS FILED BY THE ASSESSEE AR E DISMISSED. ORDER PRONOU NCED IN THE OPEN COURT ON 2 7 T H NOVEMBER 2014. S D / - S D / - ( AMIT SHUKLA ) (D. KARUNAKARA RAO ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; 2 7 /11/2014 . . ./ OKK SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. / DR ITAT MUMBAI 3 6. / GUARD FILE . //TRUE COPY// / BY ORDER / (DY./ASSTT. REGISTRAR) / ITAT MUMBAI