Mepco Industries Limited, Madurai V. DCIT, Madurai

CO 44/CHNY/2011

• Counselvise Citation: [2011] 122 COUNSELVISE.COM (IT) 5876 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 12-05-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 12-05-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 22-03-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S CHANDRASEKARAN I T A NO MDS; CO NO

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BENCH A CHENNAI BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AN D SHRI GEORGE MATHAN, JUDICIAL MEMBER .. I.T.A. NO. 355/MDS/2011 ASSESSMENT YEAR : 2007-08 THE DEPUTY COMMISSIONER OF INCOME-TAX, COMPANY CIRCLE-I, MADURAI. V. M/S. MEPCO INDUSTRIES LTD., 17-A, VALLABHAI ROAD, CHOKKIKULAM, MADURAI-625002. (PAN: AAACM7886M) (APPELLANT) (RESPONDENT) AND C.O. NO. 44/MDS/2011 (IN ITA NO. 355/MDS/2011) ASSESSMENT YEAR : 2007-08 M/S. MEPCO INDUSTRIES LTD., V. THE DY. COMMIS SIONER OF 17-A, VALLABHAI ROAD, INCOME-TAX, COMPANY C IRCLE-I, CHOKKIKULAM, MADURAI-625002. MADURAI. (CROSS OBJECTOR) (RESPONDENT) DEPARTMENT BY : SHRI SHAJI P. JACOB ASSESSEE BY : SHR I S. CHANDRASEKARAN I.T.A. NO.355/MDS/2011 & CO NO. 44/MDS/2011 2 O R D E R PER BENCH: ITA NO. 355/MDS/2011 IS AN APPEAL FILED BY THE REV ENUE AGAINST THE ORDER OF THE LEARNED CIT(APPEALS)-I, MADURAI IN ITA NO. 0 120/09-10 DATED 01-12-2010 FOR THE ASSESSMENT YEAR 2007-08 AND CO NO. 44/MDS/2 011 IS THE CROSS OBJECTION FILED BY THE ASSESSEE AGAINST THE REVENUES APPEAL AND IN SUPPORT OF THE ORDER OF THE LEARNED CIT(A). 2. SHRI SHAJI P. JACOB, LEARNED SR. DR REPRESENTED ON BEHALF OF THE REVENUE AND SHRI S. CHANDRASEKARAN, CA REPRESENTED N BEHALF OF THE ASSESSEE. 3. IT WAS SUBMITTED BY THE LEARNED DR THAT THE REVE NUES APPEAL WAS AGAINST THE ACTION OF THE LEARNED CIT(A) IN HOLDING THAT THE ASSESSEE WAS ENTITLED TO THE CLAIM OF DEDUCTION U/S 80IA OF THE INCOME TA X ACT, 1961 ON THE UTILIZATION OF THE POWER GENERATED AND USED FOR CAPTIVE CONSUMP TION. HE VEHEMENTLY SUPPORTED THE ORDER OF THE LEARNED ASSESSING OFFICE R. 4. IN REPLY, THE LEARNED AUTHORISED REPRESENTATIVE 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 I.T.A. NO.355/MDS/2011 & CO NO. 44/MDS/2011 3 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 HIGH COURT IN THE CASE OF IT V. M/S. TANFAC INDUSTRIES LTD. IN TAX CASE (A) NO. 177 3 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 LEARNED CIT(A) WAS LIABLE TO BE UPHELD. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. AS IT IS NOTICED THAT THE ISSUE IN THIS APPEAL IS SQUARELY COVERED BY THE DECISION OF THE CO-ORDINATE BENCH OF THIS TRIBUNAL IN THE ASSESSEES OWN CASE WHEREIN THE TRI BUNAL HAD FOLLOWED THE DECISION OF THE JURISDICTIONAL HIGH COURT IN THE CA SE OF M/S. TANFAC INDUSTRIES LTD., REFERRED TO SUPRA, AND THE DECISION OF THE HO N'BLE JURISDICTIONAL HIGH COURT HAD ALSO BEEN UPHELD BY THE DISMISSAL OF THE SLP BY THE HON'BLE SUPREME COURT , RESPECTFULLY FOLLOWING THE DECISION OF THE HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF M/S. TANFAC INDUSTRIES LTD., REFERRED TO SU PRA, THE FINDING OF THE LEARNED CIT(A) ON THIS ISSUE STANDS UPHELD. IN THE CIRCUMS TANCES, THE APPEAL OF THE REVENUE IS DISMISSED. I.T.A. NO.355/MDS/2011 & CO NO. 44/MDS/2011 4 6. AS THE CROSS OBJECTION IS IN SUPPORT OF THE ORDE R OF THE LEARNED CIT(A) AND AS WE HAVE UPHELD THE ORDER OF THE LEARNED CIT(A) I N THE REVENUES APPEAL, THE CROSS OBJECTION FILED BY THE ASSESSEE ALSO STANDS D ISMISSED. 7. THE ORDER WAS PRONOUNCED IN THE COURT ON 12-05-2 011. SD/- SD/- (ABRAHAM P. GEORGE) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER CHENNAI, DATED THE 12 TH MAY, 2011. H. COPY TO: ASSESSEE/AO/CIT (A)/CIT/D.R./GUARD FILE