M/s. Madurai Soft Drinks Ltd., Coimbatore V. DCIT, Madurai

CO 106/CHNY/2004

• Counselvise Citation: [2010] 122 COUNSELVISE.COM (IT) 5248 (ITAT-CHENNAI)
• Duration Of Justice: 6 year(s) 4 month(s) 22 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 27-10-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 27-10-2010
• Assessment Year: 1998-1999
• Appeal Filed On: 04-06-2004
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K E B RENGARAJAN
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BENCH D CHENNAI (BEFORE SHRI K.K. GUPTA, ACCOUNTANT MEMBER AND SHRI HARI OM MARATHA, JUDICIAL MEMBER) ..... C.O. NO. 106/MDS/2004 (IN I.T.A. NO. 553/MDS/2004) ASSESSMENT YEAR : 1998-99 M/S MADURAI SOFT DRINKS LTD., 15, SASTRI ROAD, RAMNAGAR, COIMBATORE. (CROSS OBJECTOR) V. THE DY. COMMISSIONER OF INCOME TAX, COMPANY CIRCLE I, MADURAI. (RESPONDENT) APPELLANT BY: NONE RESPONDENT BY: SHRI K.E.B. RENGARAJAN O R D E R PER K.K. GUPTA, ACCOUNTANT MEMBER : THIS CROSS OBJECTION WAS PLACED FOR ADJUDICATION BEFORE US WHEREIN THE LEARNED COUNSEL FOR THE ASSESSEE HAS SU BMITTED MEMO INDICATING THAT THE CROSS OBJECTION WAS FILED TO SU PPORT THE CONCLUSION OF THE CIT(APPEALS) THAT THE ASSESSEE IS ENTITLED T O DEPRECIATION @ 50% AS AGAINST 25% ALLOWED BY THE ASSESSING OFFICER . THE TRIBUNAL BY ITS ORDER DATED 24 TH MAY, 2006 IN I.T.A. NO. 553/MDS/2004 HAD DISMISSED THE REVENUES APPEAL UPHOLDING THE ORDER OF THE LD. C.O. NO. 106/MDS/04 2 CIT(APPEALS). THE CROSS OBJECTION HAS, THEREFORE, BECOME INFRUCTUOUS AND THE ASSESSEE-RESPONDENT PRAYS THAT SUITABLE DIRECTION MAY ACCORDINGLY BE PASSED. 2. THE LEARNED D.R. HAD NO OBJECTION FOR THE CROSS OBJECTION BEING DISMISSED AS INFRUCTUOUS. 3. IN VIEW OF THE ABOVE, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS INFRUCTUOUS. ORDER PRONOUNCED IN THE OPEN COURT AFTER CONCLUSION OF HEARING ON THE TWENTY SEVENTH DAY OF OCTOBER, 2010. SD/- SD/- (HARI OM MARATHA) (K.K. GUPTA) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 27 TH OCTOBER, 2010. KRI. COPY FORWARDED TO: (1) CROSS OBJECTOR (2) RESPONDENT (3) CIT(A) (4) CIT (5) D.R. (6) GUARD FILE