JCT Electronics Limited, Mohali V. DCIT, Chandigarh

ITA 1130/CHANDI/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 51632 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-12-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 27-12-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 03-09-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: N K SAINI
• Assessee Lawyers: ANIL SOOD
• Keywords: Depreciation
• Section: 14A; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES B CHANDIGARH BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI MEHAR SINGH, ACCOUNTANT MEMBER ITA NO. 1130/CHD/2010 ASSESSMENT YEAR: 2006-07 M/S JCT ELECTRONICS LIMITED, VS THE DCIT, CIRCLE 5 (1), MOHALI (PUNJAB) CHANDIGARH PAN NO. AAACJ5084A (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI ANIL SOOD RESPONDENT BY : SHRI N.K. SAINI DATE OF HEARING : 27.12.2011 DATE OF PRONOUNCEMENT : 27.12.2011 ORDER PER H.L.KARWA, VP THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER OF CIT(A), CHANDIGARH DATED 31.5.2010 RELATING TO ASS ESSMENT YEAR 2006-07 2. SHRI MAHESH SAHAI, CA, LD. COUNSEL FOR THE ASSES SEE VIDE HIS LETTER DATED 22.12.2011 HAS STATED AS UNDER:- SUB:- APPEAL NO.1130/CHANDI/10 FOR THE ASSESSMENT YEAR 2006-07 IN THE CASE OF JCT ELECTRONICS LTD. FOR THE ABOVE ASSESSMENT YEAR ASSESSMENT WAS COMPLETED AFTER RECTIFICATION AT RS. 90,36,72,248/- AFTER 2 MAKING THREE ADDITIONS AGGREGATING TO RS. 1,13,86,8 64/- CONSISTING OF THE FOLLOWING:- (A) DEPRECIATION AT MOHALI RS. 69,79,062/- (B) CLUB MEMBERSHIP FEE RS. 2,73,866/- (C ) PF/ESI NOT DEPOSITED UPTO FILING OF THE RETURN RS. 41,33,836/- ------------------- RS. 1,13,86,864/- ------------------ THE ORDER WAS UPHELD BY THE CIT(A) AND AN APPEAL W AS FILED BEFORE YOU WHICH HAS BEEN FIXED FOR HEARING O N 27 TH DECEMBER, 2011. 2. THEREAFTER, THE CIT(A)-II, CHANDIGARH PASSED AN ORDER UNDER SECTION 263 DATED 28..3.2011 DIRECTING THE AS SESSING OFFICER TO FRAME A FRESH ASSESSMENT. THE ASSESSING OFFICER VIDE HIS ORDER DATED 11.11.2011 MADE FURTHER ADDITI ONS AGGREGATING TO RS. 77,42,365 ON ACCOUNT OF THE FOLL OWING:- A) CREDIT BALANCE OF MICRO PRECISION INDUSTRIES RS . 48,43,298 B) INTERST U/S 14A RS. 21,59,067 C) CAPITALIZATION OF SOFTWARE EXPENSES RS. 7, 40,000 ----------------- RS. 77,42,365 ----------------- AGAINST THIS ORDER AN APPEAL HAS BEEN FILED BEFORE THE CIT(A) WHICH HAS YET TO BE HEARD. 3. IN THE CIRCUMSTANCES, THE APPEAL FILED BEFORE YO U AGAINST THE FIRST ORDER WHICH HAS BEEN LISTED FOR H EARING ON 27 TH DECEMBER 2011 HAS BECOME INFRUCTUOUS AND WE MAY KINDLY BE PERMITTED TO WITHDRAW THE APPEAL WHICH IS BEFORE YOU. HOWEVER, IF OUR PERSONAL APPEARANCE IS NECESSA RY FOR WITHDRAWING THE APPEAL, IT IS REQUESTED THAT THE CA SE BE ADJOURNED TO 16 TH FEBRUARY, 2010 WHEN FOUR OTHER CASES ADJOURNED FOR HEARING HAVE BEEN FILED BEFORE YOUR H ONOUR. 3 YOURS FAITHFULLY, FOR JCT ELECTRONICS LIMITED SD/- (MAHESH SAHAI) CHARTERED ACCOUNTANT AUTHORIZED REPRESENTATIVE. 3. IN VIEW OF THE ABOVE LETTER, WE GRANT PERMISSION TO ASSESSEE TO WITHDRAW THE APPEAL. 4. IN THE RESULT, THE APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 27 TH DAY OF DECEMBER, 2011. SD/- SD/- (MEHAR SINGH) (H.L.KARWA) ACCOUNTANT MEMBER VICE PRESIDENT DATED : 27 TH DECEMBER, 2011 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR TRUE COPY BY ORDER ASSISTANT REGISTRAR