DCIT, Bangalore V. M/s Jaipuria Silk Mills Pvt. Ltd., Bangalore

ITA 1036/BANG/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 8626 (ITAT-BANGALORE)
• Duration Of Justice: 7 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 10-02-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 06-07-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: GANERIWALA

Judgement Text

ITA.1036/BANG/2015 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH 'A', BANGALORE BEFORE SHRI. ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI. VIJAY PAL RAO, JUDICIAL MEMBER I.T.A NO.1036/BANG/2015 (ASSESSMENT YEAR : 2009-10) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -4(1)(1), BANGALORE .. APPELLANT V. M/S. JAIPURIA SILK MILLS P. LTD, NO.43, GUDAHATTI MAIN ROAD, NERLUR POST, ANEKAL TALUK, BANGALORE 562107 .. RESPONDENT PAN : AAACJ9390D ASSESSEE BY : SHRI. GANERIWALA, CA REVENUE BY : DR. P. K. SRIHARI, ADDL. CIT HEARD ON : 10.02.2016 PRONOUNCED ON : 19.02.2016 O R D E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER : IN THIS APPEAL FILED BY ASSESSEE, IT IS AGGRIEVED THAT CIT (A) DIRECTED A REDUCTION OF THE FREIGHT AND INSURANCE CHARGES FR OM THE EXPORT TURNOVER AS ITA.1036/BANG/2015 PAGE - 2 WELL AS THE TOTAL TURNOVER WHILE COMPUTING THE DEDU CTION ALLOWABLE TO THE ASSESSEE U/S.10B OF THE INCOME-TAX ACT, 1961 ( THE ACT IN SHORT). 02. IT IS CLEAR FROM GROUND 3 OF THE REVENUE THAT I T IS AGGRIEVED ON THE CIT (A) FOLLOWING THE JUDGMENT OF HONBLE JURISDICT IONAL HIGH COURT IN THE CASE OF CIT V. TATA ELXSI LTD [349 ITR 98], WHEREIN IT WAS HELD UNEQUIVOCALLY BY THEIR LORDSHIPS THAT ITEMS EXCLUDE D FROM EXPORT TURNOVER HAD TO BE EXCLUDED FROM THE TOTAL TURNOVER ALSO WHI LE WORKING OUT THE ELIGIBLE DEDUCTION. SINCE THE CIT (A) HAD FOLLOWED THE JUDGMENT OF JURISDICTIONAL HIGH COURT, JUST FOR A REASON THAT A N SLP HAS BEEN FILED BEFORE THE SUPREME COURT, WE CANNOT DEVIATE FROM TH E VIEW TAKEN BY THE CIT (A). ACCORDINGLY WE DISMISS APPEAL OF THE REVE NUE. 03. IN THE RESULT, APPEAL OF THE REVENUE STANDS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 19TH DAY OF F EBRUARY, 2016. SD/- SD/- (VIJAYPAL RAO) (ABRAH AM P GEORGE) JUDICIAL MEMBER ACCOUNTANT MEMBER