Itxa/1316/2012 Of Commissioner Of Income Tax Central Iv v. M/S. N.h. Securities Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1316 OF 2012 … Commissioner of Income Tax Central-IVv/s.M/s.N.H.Securities Ltd. ...Appellant ...Respondent … Mr.Arvind Pinto for the Appellant.Mr.C.K.Jasani for the Respondent. ... CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 20 NOVEMBER 2014 P.C. This Appeal purports to challenge the order passed on Misc. Application No.426/Mum/2011. By the order dated 16 November 2011, the Tribunal allowed this Misc.Application. 2.The Misc.Application arises out of an order dated 11 May 2011 in Income Tax Appeal No.78/Mum/2009 for the Assessment Year 2002-03. 3. It was the Assessee's application for correction of a mistake in the original order passed by the Tribunal in the above Income Tax Appeal. The Tribunal corrected its mistake and granted the request of the Assessee. In doing so the Tribunal directed that the entire amount of interest as per the Bank statement of Rs.8,45,59,646/- should be allowed by the Assessing Officer. 2/3 itxa-1316-12.doc 4.The substantive or the main order in the Appeal was challenged by the Revenue in this Court by filing Income Tax Appeal No.2468 of 2011. This Court on 8 March 2013 dismissed that Appeal. 5.It is fairly stated that the order passed by the Tribunal and confirmed in Appeal by this Court could not have been further impugned and by an indirect process. It is unfortunate that the Revenue challenges the order on the Misc.Application and seeks to reopen what is concluded by this Court in its order dated 8 March 2013. We could have understood some assessee taking chance of this nature, but would never expect the Revenue to make such an attempt and that is obvious because what has been termed as an Appeal against the order of the Tribunal on this Misc.Application purports to raise the same question which was raised in the Income-Tax Appeal No.2468 of 2011. Page 6 para 5.1 of this memo of Appeal reads as under: “Whether on the facts and in the circumstances of the case the Hon'ble Tribunal was justified in law in accepting the assessee's claim for deduction of interest amount to Rs.8,45,59,646/- ignoring that no interest was provided in the audited accounts either by the assessee as expenditure or by the lender bank as income and as such there was no actual liability of the assessee on this account.” itxa-1316-12.doc 6.The order passed on 8 March 2013 notes this very question and terms it as not a substantial question of law. The present attempt of the Revenue and to get over and overcome a binding order therefore needs to be strongly deprecated. It is too well settled to require any reiteration that what is prohibited directly cannot be achieved indirectly. That should have been known to the Revenue because this Court's order dated 8[th] March 2013 is final. We, therefore, dismiss the appeal, which is even otherwise not maintainable under section 260A of the Income Tax Act, 1961, with costs quantified at Rs.50,000/-, which shall be paid within four weeks from today to the Assessee. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)