The ACIT, Jalgaon V. Jain Irrigation Systems Ltd., Jalgaon

ITA 1080/PUN/2009

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 3320 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-09-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2005-2006
• Appeal Filed On: 11-09-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ABHAY DAMLE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH, PUNE SINGLE MEMBER CASE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBE R I.T.A. NO. 1080/PN/2009 : A.Y. 2005-06 ASSTT. CIT CIR. 2, JALGAON APPELLANT VS. JAIN IRRIGATION SYSTEMS LTD., JAIN FIELD, N.H. NO. 6, AT BAMBHORI DIST. JALGAON 425 001 PAN AAACJ 7163 Q RESPONDENT APPELLANT BY : SHRI ABHAY DAMLE RESPONDENT BY: NONE ORDER THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF THE CIT(A) II NASIK DATED 17-6-2009 FOR A.Y. 2005- 06. 2. THE ASSESSEE IS A PUBLIC LIMITED COMPANY AND IS IN THE LINE OF MANUFACTURE AND TRADE OF MACHINERIES FOR IR RIGATIONS SYSTEMS AND ALSO INVOLVED IN TISSUE CULTURE AND ONI ON PROCESSING, ETC. THE ASSESSEE FILED ITS RETURN OF INCOME ON 31- 10-2005 DECLARING TOTAL INCOME AT RS. NIL. DURING THE COURSE OF SCRUTINY ASSESSMENT, THE A.O MADE A DISALLOWANCE OF RS. 22,58,764/- BEING AMORTIZATION OF ORCHARD ACTIVITIE S AND DETERMINED THE TOTAL INCOME AT RS. 1,14,69,148/-. O N APPEAL THE CIT(A) FOLLOWING HIS OWN DECISION FOR A.Y. 2000 -01 TO 2004- 05 ALLOWED THE CLAIM OF THE ASSESSEE. ITA NO. 1080/PN/2009 JAIN IRRIGATION SYSTEMS A.Y. 2005-06 , 2 3. HAVING HEARD THE SUBMISSIONS OF LEARNED DR AND PERUSING THE MATERIAL ON RECORD I FIND THAT THE IS SUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE J UDGMENT OF HONBLE SUPREME COURT IN THE CASE OF CIT VS. S.N.A. S.A. ANNAMALAI CHETTAIR 86 ITR 607 (SC). THE CIT(A) WHI LE DECIDING THE ISSUE FOR A.Y. 2000-01 TO 2004-05 HAS FOLLOWED THE SAID DECISION IN THE CASE OF S.N.A.S.A. ANNAMAL AI CHETTAIR (SUPRA) AND DECIDED THE ISSUE IN FAVOUR OF ASSESSEE . SO, RESPECTFULLY FOLLOWING THE SAID JUDGMENT OF HONBLE SUPREME COURT CITED SUPRA, I DO. NOT FIND ANY INFIRMITY IN THE ORDER OF THE CIT(A). ACCORDINGLY, THE ISSUE RAISED IN THIS A PPEAL IS DECIDED IN FAVOUR OF THE ASSESSEE. 4. IN THE RESULT, THE APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 21 ST SEPTEMBER 2010. SD/- (SHAILENDRAKUMAR YADAV) JUDICIAL MEMBER PUNE,DATED THE 21 ST SEPTEMBER 2010 ANKAM COPY FORWARDED TO: (1) ASSESSEE (2) DEPARTMENT (3) CIT- III PUNE (4) CIT(A)-II PUNE (5) THE D.R. ITAT PUNE, PUNE TRUE COPY BY ORDER, ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL, PUNE BENCHES, PUNE ITA NO. 1080/PN/2009 JAIN IRRIGATION SYSTEMS A.Y. 2005-06 , 3