Mepco Industries Limited, Madurai V. DCIT, Madurai

CO 102/CHNY/2011

• Counselvise Citation: [2011] 122 COUNSELVISE.COM (IT) 6373 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 18 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 08-08-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 08-08-2011
• Assessment Year: 2008-2009
• Appeal Filed On: 20-06-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S CHANDRASEKARAN F
• Section: 12; 2; 11

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI A BENCH, CHENNAI. BEFORE SHRI.U.B.S. BEDI, J.M. & SHRI. ABRAHAM P. GE ORGE, A.M. I.T.A. NO. 974/MDS/2011 ASSESSMENT YEAR: 2008-09 THE DEPUTY COMMISSIONER OF INCOME TAX, COMPANY CIRCLE I, MADURAI. VS. M/S. MEPCO INDUSTRIES LTD., 17-A, VALLABHAI ROAD, CHOKKIKULAM, MADURAI 2. [PAN:AAACM7886M] (APPELLANT) (RESPONDENT) C.O.NO.102/MDS/2011 [I.T.A. NO. 974/MDS/2011] ASSESSMENT YEAR: 2008-09 M/S. MEPCO INDUSTRIES LTD., 17-A, VALLABHAI ROAD, CHOKKIKULAM, MADURAI 2. VS. THE DEPUTY COMMISSIONER OF INCOME TAX, COMPANY CIRCLE I, MADURAI. (APPELLANT) (RESPONDENT) REVENUE BY : SHRI SHAJI P. JACOB, SR. DR ASSESSEE BY : SHRI S. CHANDRASEKARAN, F.C.A. ORDER PER U.B.S. BEDI, J.M. THIS APPEAL OF THE REVENUE AND CO OF THE ASSESSEE I S DIRECTED AGAINST THE ORDER PASSED BY THE LD. CIT(A) I, MADURAI DATED 18. 03.2011 RELEVANT TO THE ASSESSMENT YEAR 2008-09. 2. IN THE APPEAL OF THE DEPARTMENT, THE REVENUE HA S CHALLENGED THE ACTION OF THE LD. CIT(A) IN HOLDING THAT THE ASSESSEE WAS ENT ITLED TO THE CLAIM OF DEDUCTION I II I.T.A. NO. .T.A. NO. .T.A. NO. .T.A. NO.974 974974 974 & & & & C.O.NO. C.O.NO. C.O.NO. C.O.NO. 102 102102 102/MDS/1 /MDS/1 /MDS/1 /MDS/11 11 1 2 UNDER SECTION 80IA, WHEREAS THE ASSESSEE HAS FILED CO IN SUPPORT OF THE ORDER OF THE LD. CIT(A). 3. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASS ESSEE SUBMITTED THAT THE ISSUE WAS SQUARELY COVERED BY THE DECISION OF THE CO-ORDI NATE BENCH OF THIS TRIBUNAL IN THE ASSESSEES OWN CASE IN ITA NO.960/MDS/09 DATED 26-02-2010 FOR THE ASSESSMENT YEAR 2006-07 WHEREIN THE CO-ORDINATE BE NCH OF THIS TRIBUNAL HAD FOLLOWING THE DECISION OF THE HON'BLE JURISDICTIONA L HIGH COURT IN THE CASE OF CIT V. M/S. TANFAC INDUSTRIES LTD. IN TAX CASE (APPEAL) NO . 475 OF 2008 DATED 23-07- 2008 AS ALSO THE DECISION OF THE JURISDICTIONAL HIG H COURT IN THE CASE OF IT V. M/S. TANFAC INDUSTRIES LTD. IN TAX CASE (A) NO. 1773 OF 2008 DATED 6-11-2008 DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE. IT W AS THE SUBMISSION THAT THE DECISION OF THE HON'BLE JURISDICTIONAL HIGH COURT I N THE CASE OF M/S. TANFAC INDUSTRIES LTD. IN TAX CASE (A) NO. 1773 OF 2008 WA S SUBJECT MATTER OF AN SLP BEFORE THE HON'BLE SUPREME COURT AND THE SAME WAS D ISMISSED BY THE HON'BLE SUPREME COURT VIDE ORDER DATED 27.07.2009 REPORTED IN 319 ITR ST. 8. IT WAS THE SUBMISSION THAT THE ORDER OF THE LD. CIT(A) WAS LIA BLE TO BE UPHELD AND PRAYED FOR UPHOLDING THE IMPUGNED ORDER BEING A COVERED ISSUE. 4. THE LD. DR COULD NOT CONTROVERT THIS FACTUAL ASP ECT THAT THE ISSUE IS COVERED AGAINST THE DEPARTMENT, BUT HE RELIED UPON THE GROU NDS OF APPEAL. 5. AFTER HEARING BOTH THE SIDES AND CONSIDERING THE MATERIAL ON RECORD, IT IS NOTICED THAT THE ISSUE IN THIS APPEAL IS SQUARELY C OVERED BY THE DECISION OF THE CO- ORDINATE BENCH OF THIS TRIBUNAL IN THE ASSESSEES O WN CASE WHEREIN THE TRIBUNAL HAD FOLLOWED THE DECISION OF THE JURISDICTIONAL HIG H COURT IN THE CASE OF M/S. I II I.T.A. NO. .T.A. NO. .T.A. NO. .T.A. NO.974 974974 974 & & & & C.O.NO. C.O.NO. C.O.NO. C.O.NO. 102 102102 102/MDS/1 /MDS/1 /MDS/1 /MDS/11 11 1 3 TANFAC INDUSTRIES LTD., REFERRED TO SUPRA, AND THE DECISION OF THE HON'BLE JURISDICTIONAL HIGH COURT HAD ALSO BEEN UPHELD BY T HE DISMISSAL OF THE SLP BY THE HON'BLE SUPREME COURT, RESPECTFULLY FOLLOWING THE D ECISION OF THE HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF M/S. TANFA C INDUSTRIES LTD., REFERRED TO SUPRA, THE FINDING OF THE LD. CIT(A) ON THIS ISSUE STANDS UPHELD. IN THE CIRCUMSTANCES, THE APPEAL OF THE REVENUE IS DISMISS ED. 6. SINCE WE HAVE DISMISSED THE APPEAL OF THE REVEN UE, AND THE CO OF THE ASSESSEE IS IN SUPPORT OF THE ORDER OF THE LD. CIT( A), WHICH HAS BECOME INFRUCTUOUS AND THE SAME IS ALSO DISMISSED. 7. AS A RESULT, THE APPEAL OF THE DEPARTMENT AND T HE CO OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED SOON AFTER THE CONCLUSION OF HEARI NG ON 08.08.2011. SD/- SD/- (ABRAHAM P. GEORGE) ACCOUNTANT MEMBER (U.B.S. BEDI) JUDICIAL MEMBER CHENNAI, DATED, THE 08.08.2011 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.