2023 (3) TMI 1633

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....) against the order of the Tribunal in ITA No. 951/Chny/2018, in ITA No. 711/Chny/2020 & in ITA No. 784/Chny/2018 dated 26.08.2022 and pertains to assessment years 2013-14, 2014-15 & 2010-11. MA No.137/Chny/2022 for the AY 2013-14: 2. The Ld.Counsel for the assessee, referring to petition filed by the assessee submitted that in Para No.66 of the order of the Tribunal dated 26.08.2022, the Tribunal had given a finding that since provisions of Sec.115JB of the Act, is not applicable to Insurance Companies up to AY 2013-14, no addition can be made to book profit computed u/s.115JB of the Act, and thus, provision for IBNR & IBNER cannot be added to book profit, but, fact remains that provisions of Sec.115JB of the Act, has been made appli....

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.... the order of the Tribunal in ITA No.951/Chny/2018 dated 26.08.2022 for the AY 2013-14 qua Ground Nos.8 & 9 of appeal filed by the Revenue. 3. The next issue that came up for our consideration from Miscellaneous Application filed by the assessee is non-adjudication of Ground No.8 of Revenue appeal with regard to addition towards disallowance u/s.14A of the Act, to book profit u/s.115JB of the Act. We find that the Tribunal, while disposing of the appeal by inadvertent error not adjudicated Ground No.8 of Revenue appeal, which relates to disallowance u/s.14A of the Act, while computing book profit u/s.115JB of the Act. Therefore, we recall the order of the Tribunal in ITA No.951/Chny/2018 dated 26.08.2022 for the AY 2013-14 qua Ground Nos....

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....cord, which needs to be rectified u/s.254(2) of the Act and thus, we recall the order of the Tribunal in ITA No.711/Chny/2020 for the AY 2014-15 qua Ground Nos.16 18 of the assessee's appeal. 7. In the result, the Miscellaneous Application filed by the assessee in ITA No.711/Chny/2020 for the AY 2014-15 is allowed. MA No.139/Chny/2022 for the AY 2010-11: 8. The first issue that came up for our consideration from Ground No.4.1 of Miscellaneous Application filed by the assessee is disallowance of payment made to motor vehicle dealers. The Ld. Counsel for the assessee referring to Para No.47 of the Tribunal order in Page No.83 submitted that the Tribunal has adjudicated the issue of disallowance of payment made to motor vehicle dealer....

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....ara No.50 at Page Nos.86-89 of the order of the Tribunal is applicable to AY 2010-11 also and thus, we direct the AO to delete addition made towards disallowance of payment made to motor vehicle dealers for the AY 2010-11. 9. The next issue that came up for our consideration from Ground No.4.2 of Miscellaneous Application filed by the assessee is challenging validity of re-opening of assessment. The ground raised by the assessee challenging validity of re-opening of assessment was held to be not pressed by the assessee. The Ld. Counsel for the assessee submitted that the assessee has vehemently argued the issue of re-assessment in light of certain judicial precedents, but does not argued said ground, was not pressed. Therefore, the findi....