From the clarification issued by the Hon’ble High Court, it is clear that until and unless the decision of Marilyn Shipping & Transport(supra)is reversed by the Court,it is binding on all the benches of the Tribunal. We find that Hon’ble Court has held that judicial discipline mandates that the decision of the special bench has to be followed by other benches. As on today,the stay order granted by the Hon’ble Court has been vacated and the order of the special bench is binding on other benches of the Tribunal.Therefore, respectfully following the same,we hold that the FAA was justified in following the order of Marilyn Shipping & Transport (supra). Considering the facts of the case and the clarification issued by the Hon’ble Andhra Pradesh High Court on 24.06.2014 in the case of Janapriya Engineers Syndicate, we decide the effective ground of appeal in favour of the assessee and confirme the order of the FAA.
INCOME TAX APPELLATE TRIBUNAL,MUMBAI
Before S/Sh.D.Manmohan, Vice-President &
Rajendra, Accountant Member
ITA No.4154/Mum/2013 , Assessment Year-2009-10
ACIT Vs. Amit Naresh Sinha,
Date of Hearing : 03-09-2014
Date of Pronouncement : 10-09-2014
Order u/s.254(1)of the Income-tax Act,1961(Act)
Per Rajendra,AM:
Challenging the order dated 25.03.2013 of the CIT(A)-33,Mumbai Assessing Officer(AO) has raised the following grounds of appeal:
1.On the circumstances and facts of the case, the Ld.CIT(A) erred in restricting the addition of Rs. 1,30,96,695/- made by the AO u/s.40(a(ia) to Rs.1,18,602/- by relying upon the decisions of Hon’ble ITAT Special Bench, Vishakapatnam in the case of Merilyn Shipping Agency Pvt. Ltd.
