2015 (1) TMI 1339

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....der of the Tribunal in ITA Nos. 5224/Mum/2012, ITA No.5225/Mum/2012, 5082/Mum/2012 & 6631/Mum/2011. All these Miscellaneous Applications were heard together and disposed of by this common order for the sake of convenience. MA No.284/Mum/2014 (Arising out of ITA No.6631/Mum/2011): 2. The assessee pointed out that while disposing of the appeal, the Tribunal has not disposed of Ground No.2 of the appeal, which reads as under: "On the facts and in the circumstance of the case the Ld. CIT(A) failed to appreciate that the transaction of sale and purchase was entirely with M/s. Yogesh Perfumery And Essential Oil And M/s. Sachin Perfumery Cosmetics being proprietary concern and thus, between two arms of the same business of the assessee." 3. ....

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....as on that date:" It is not the case of the Revenue that the transactions with M/s.Yogesh Perfumery And Essential Oil & M/s. Sachin Perfumery Cosmetics carried on by the assessee , the consideration for which transfer as recorded in the accounts of the eligible business does not correspond to the market value of such goods as on the date of the transfer. We accordingly hold that the transactions with M/s.Yogesh Perfumery And Essential Oil & M/s. Sachin Perfumery Cosmetics are well covered by the provisions of section 80 IB(13). In the result, ground No.2 raised by the Revenue is dismissed. 5. With the above amendment to the order of the Tribunal in ITA No.6631/Mum/2011, the Miscellaneous Application No.284/Mum/2014 is allowed. MA NO.366....

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....the claim of other income which relates to sundry balances written back, we find that the sundry balances written back relates to the purchases/expenses made in the earlier years. However, this fact needs to be verified by the AO. We, therefore, restore this issue to the file of the AO for the limited purpose of verification of the written back amount relating to the purchases/expenses of earlier years. The AO is directed to verify and if found to be related with the purchases /expenses of earlier years, the same has to be treated as eligible for deduction u/s. 80IB of the Act. With these modifications to the order of the Tribunal in ITA No.5082/Mum/2012, MA No.366/Mum/2014 is treated as allowed for statistical purposes. MA NO.282 & 283/MU....