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ACIT- LTU 29th Floor, Centre-1 World Trade Centre Cuffe Parade Mumbai-400 005. Vs. M/s. Deposit Insurance & Credit Guarantee Corporation RBI Building Opp. Mumbai Central Rly. Station, Near Maratha Mandir Byculla Mumbai-400 008.
April, 23rd 2014
              IN THE INCOME TAX APPELLATE TRIBUNAL
                         "D" Bench, Mumbai

                 Before Shri H.L. Karwa, President, and
                 Shri N.K. Billaiya, Accountant Member

                          ITA No. 6001/Mum/2009
                          (Assessment year:2006-07)

ACIT- LTU                                   M/s. Deposit Insurance &
29th Floor, Centre-1                        Credit Guarantee Corporation
World Trade Centre                          RBI Building
Cuffe Parade                        Vs.     Opp. Mumbai Central Rly.
Mumbai-400 005.                             Station, Near Maratha Mandir
                                            Byculla
                                            Mumbai-400 008.

(Appellant)                                    (Respondent)


    Permanent Account No. : AAACD 2094 E

                     Assessee by        :   Shri Sitaram Parekh
                     Revenue by         :   Mrs. Abha Kala Chanda (CIT-
                                            DR)

      Date of hearing               :       17/04/2014
      Date of Pronouncement         :       17/04/2014


                                 ORDER


Per N.K. Billaiya, Accountant Member:

      This appeal by the Revenue is preferred against the order of CIT(A)-
LTU, Mumbai dated 03/08/2009 pertaining to assessment year 2006-07.
The grievance of the Revenue is as under :-

              "1.   On the facts and in the circumstances of the case and in
              law, the ld. CIT(A), erred in deleting the additions made on
              account of provision for gratuity u/s. 40A(9) of the I.T. Act.
                                      2               ITA No.6001/M/09
                                                          AY:06-07





             2.    On the facts and in the circumstances of the case and in
             law, the ld. CIT(A), erred in deleting the additions made on
             account of charges paid to Clearing Corporation of India Ltd.,
             without deducting TDS u/s.40(a)(ia) of the I.T. Act."


2.    At the very outset the Counsel for the Assessee submitted that
both the grievances of the Revenue are decided in favour of the Assessee
by the order of the Tribunal in Assessee's own case for assessment year
1999-2000, 2000-01 and 2002-03 and also in assessment year 2007-08
and 2008-09. The ld. DR fairly conceded with the same.

3.    We have carefully perused the orders of the lower authorities and
the decision of the Tribunal brought to our notice by the Counsel in
Assessee's own case. We find that the CIT(A) has deleted the additions
made on account of provision for gratuity u/s. 40A(9) of the Act following
the finding of his predecessors for assessment year 2005-06 and 2003-
04. A similar addition was also made in assessment year 2007-08 and
2008-09 where the matter travelled upto the Tribunal and the Tribunal
in ITA No.2361 & 2524/Mum/2011 at para-7 of its order held :"We have
considered the rival submissions and find that the Tribunal has confirmed
the deletion of disallowance on account of provision for gratuity in
assessment year 1999-2000, 2000-01 and 2002-03 in ITA No.7950 &
7951/Mum/2003 and ITA No.1738/Mum/2005. Therefore, following that
order, we confirm the order of ld. CIT(A)."

3.1   As no distinguishing fact has been brought before us, respectfully,
following the findings of the co-ordinate bench (supra), we confirm the
order of CIT(A). Ground No.1 is accordingly dismissed.

4.    The second grievance of the Revenue is also covered by the
decision of the Tribunal in assessment year 2007-08 and 2008-09
wherein the Tribunal has decided a similar issue at para-14 on page-7 of
its order in ITA No.2361 & 2524/M/11. Respectfully following the
                                   3                 ITA No.6001/M/09
                                                         AY:06-07





findings of the co-ordinate bench we confirm the order of the CIT(A).
Ground No.2 is accordingly dismissed.

5.   In the result, appeal filed by the Revenue is dismissed.



Order pronounced in the open court on 17th April, 2014.



           Sd/-                                  Sd/-
        (H.L. KARWA)                       (N.K. BILLAIYA)
         PRESIDENT                      ACCOUNTANT MEMBER



Mumbai, Dated: 17/04/2014.
Jv.


Copy to: The Appellant
        The Respondent
        The CIT, Concerned, Mumbai
        The CIT(A) Concerned, Mumbai
        The DR " " Bench

True Copy
                                          By Order

                        Dy/Asstt. Registrar, ITAT, Mumbai.

 
 
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