Case Number: ITA 5606/DEL/2019
Appellant: Cosmo Films Ltd., New Delhi
Respondent: DCIT, Circle-6(2), New Delhi
Assessment Year: 2013-14
Case Filed On: 2019-06-28
Order Type: Final Tribunal Order
Date of Order: 2023-08-07
Pronounced On: 2023-08-07
This case involves an appeal filed by Cosmo Films Ltd. against the order of the Deputy Commissioner of Income Tax (DCIT), Circle-6(2), New Delhi. The appeal was filed on 2019-06-28, and the order was pronounced on 2023-08-07. The primary issue in this case was related to the Sales Tax Subsidy dispute for the assessment year 2013-14.
Cosmo Films Ltd., the appellant, is a company based in New Delhi. The appeal was filed against the assessment order passed by the DCIT, Circle-6(2), New Delhi, for the assessment year 2013-14. The main contention in the case was the incorrect mention of Sales Tax Subsidy in the computation of income.
The appellant raised the following grounds of appeal:
The Tribunal heard the representatives of both sides at length and carefully perused the case records. The bone of contention was the Sales Tax Subsidy which was inadvertently mentioned in the computation as Rs.9,48,35,932/- and later corrected to Rs.22,11,432/-. This correction was done by way of an application filed under section 154 of the Act after the completion of the assessment vide order dated 27.10.2017 framed under section 143(3) of the Act read with section 144C of the Act.
Both the lower authorities denied the correction of the figure in Sales Tax Subsidy stating that the same should have been revised by way of a revised return of income. The Tribunal found that both the lower authorities erred in taking this view as any error which is apparent from record has to be rectified.
In the interest of justice and fair play, the Tribunal restored this issue to the files of the Assessing Officer (AO). The appellant was directed to furnish a revised computation of income and the AO was directed to examine and verify the same and decide the issue afresh after affording a reasonable and sufficient opportunity of being heard to the appellant.
The Tribunal allowed the appeal of the appellant for statistical purposes and directed the AO to re-examine the revised computation of income. The decision was announced in the open court on 07.08.2023.
Order pronounced on this 07th day of August, 2023.
Signed by:
(YOGESH KUMAR US) JUDICIAL MEMBER
(N.K. BILLAIYA) ACCOUNTANT MEMBER
Date: 07th August, 2023
Copy forwarded to:
Assistant Registrar, ITAT, New Delhi
Cosmo Films Ltd. vs DCIT Circle-6(2), New Delhi – Sales Tax Subsidy Dispute
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