Income Tax Appellate Tribunal - Ahmedabad
The Dcit, (Osd)-1, Circle-4,, ... vs Mundra International Container ... on 12 February, 2018
ITA No. 1458/Ahd/2015
ACIT Vs. Mundra International Container Terminal Pvt Ltd
Assessment year: 2010-11
Page 1 of 2
IN THE INCOME TAX APPELLATE TRIBUNAL,
AHMEDABAD 'D' BENCH, AHMEDABAD
[Coram: Pramod Kumar AM and S S Godara JM]
ITA No. 1458/Ahd/2015
Assessment year: 2010-11
Asst. Commissioner of Income-tax ....................................Appellant
Circle 2(1)(2), Ahmedabad
Vs
Mundra International Container Terminal Pvt Ltd............................Respondent
Navinal, New Mundra Port,
Mundra, Kutch-370 421
[PAN : AADCA 0917 C]
Appearances by
VK Singh for the appellant
Bandish Soparkar & Mrunal Shah for the respondent
Dates of hearing of the appeal : February 08, 2018
Date of pronouncing this order : February 12, 2018
O R D E R
Per Pramod Kumar, AM:
1. By way of this appeal, the Assessing Officer has challenged correctness of the learned CIT(A)'s order dated 16th March 2015, in the matter of assessment under section 143(3) r.w.s. 144C of the Income-tax Act, 1961, for the assessment year 2010-11.
2. Grievances raised by the appellant are as follows:-
"1. The Ld. CIT(A) has erred in law and on facts in deleting the disallowance of Rs.35,00,000/- made by the AO u/s 14A r.w.r. 8D of the IT Rules, 1962.
2. The Ld. CIT(A) has erred in law and on facts in deleting the addition of the disallowance to the book profit u/s 115JB.
3. On the facts and in the circumstances of the case, the Ld. CIT(A) ought to have upheld the order of the Assessing Officer."
3. Learned representatives fairly agree that there is no tax exempt earned by the assessee during the relevant previous year, and, for this short reason alone, ITA No. 1458/Ahd/2015 ACIT Vs. Mundra International Container Terminal Pvt Ltd Assessment year: 2010-11 Page 2 of 2 disallowance under section 14A does not come into play - as is the settled legal position in the light of Hon'ble jurisdictional High Court's judgment in the case of CIT Vs. Corrtech Energy Ltd [(2014) 45 taxmann.com 116 (Guj.)]. That is precisely what learned CIT(A) has noted, and, based thereon, granted the impugned relief.
4. In view of the above position, we approve the conclusions arrived at by the learned CIT(A) and decline to interfere in the matter.
5. In the result, appeal is dismissed. Pronounced in the open court today on the 12th day of February, 2018.
Sd/- Sd/- S S Godara Pramod Kumar (Judicial Member) (Accountant Member)
Ahmedabad, the 12 th day of February, 2018 **bt Copies to: (1) The appellant (2) The respondent (3) Commissioner (4) CIT(A) (5) Departmental Representative (6) Guard File By order TRUE COPY Assistant Registrar Income Tax Appellate Tribunal Ahmedabad benches, Ahmedabad
1. Date of dictation:.....order prepared as per one page manuscript of Hon'ble AM, which is attached herewith....12.02.2018
2. Date on which the typed draft is placed before the Dictating Member: ... 12.02.2018........
3. Date on which the approved draft comes to the Sr. P.S./P.S.: 12.02.2018....
4. Date on which the fair order is placed before the Dictating Member for Pronouncement: ... 12.02.2018.....
5. Date on which the file goes to the Bench Clerk : . 13.02.2018.......
6. Date on which the file goes to the Head Clerk : ..................................
7. The date on which the file goes to the Assistant Registrar for signature on the order: ...
8. Date of Despatch of the Order..................