DCIT, New Delhi V. M/s. Fast Booking India (P) Ltd., New Delhi

ITA 116/DEL/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 82170 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 11 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-12-2014
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 29-10-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 07-01-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PARWINDER KAUR
• Assessee Lawyers: RUPESH J AIN; SHIKHA SHARMA
• Keywords: Reopening of assessment; Depreciation; Unabsorbed depreciation
• Section: 80HHC; 80IB; 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI C.M. GARG , JUDICIAL MEMBER ITA NO. 1 16 /DEL/2013 AY 2009 - 10 DCIT. CIRCLE 11(1) VS. FAST BOOKING INDIA PVT.LTD. ROOM NO.312, CR BLDG. FLAT NO.206, A 13, KAILASH COLONY NEW DELHI NEW DELHI 110 048 PAN: AAACF 9909 L CROSS OBJECTION NO. 125/DEL/2013 (IN ITA NO. 1 16 /DEL/2013 ) AY 2009 - 10 FAST BOOKING INDIA PVT.LTD. VS. DCIT, CIRCLE 11(1) NEW DELHI NEW DELHI ITA NO. 31 5 /DEL/201 2 AY 200 8 - 09 ITO, WARD 11(2) VS. FAST BOOKING INDIA PVT.LTD. NEW DELHI NEW DELHI CROSS OBJECTION NO. 1 4 5/DEL/2013 (IN ITA NO. 315 /DEL/201 2) AY 200 8 - 09 FAST BOOKING INDIA PVT.LTD. VS. DCIT, CIRCLE 11(1) NEW DELHI NEW DELHI ( APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI R UPESH JAIN, ADV. & MS.SHIKHA SHARMA, C.A. DEPARTMENT BY : S MT. PARWINDER KAUR, SR.D.R. ORDER PER J. SUDHAKAR REDDY, JM BO TH THESE APPEALS ARE FILED BY THE REVENUE AND ARE DIRECTED AGAINST SEPARATE ORDERS OF THE LD.CIT(A) - XIII, NEW DELHI DT. 26.10.2012 PERTAINING TO ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 2 THE ASSESSMENT YEARS 2008 - 09 AND 2009 - 10. THE CROSS OBJECTIONS ARE FILED BY THE ASSESSEE. 1.1. THERE IS A DELAY OF 179 DAYS IN FILING THE CROSS OBJECTIONS FOR THE AY 2009 - 10. THE ASSESSEE SUBMITS THAT THE ISSUE IN QUESTION I.E. WHETHER THE ASSESSEE IS ENTITLED FOR DEDUCTION U/S 10B OF THE ACT WAS COVERED IN FAVOUR OF THE ASSESSEE B Y THE DELHI H BENCH OF THE TRIBUNAL IN THE CASE OF M/S VA L L IANT COMMUNICATION LTD. VS. DY.CIT, CIRCLE 17(1), NEW DELHI IN ITA NO. 27 0 6/DEL/2008 FOR AY 2005 - 06 VIDE ORDER DT. 23.4.2010 (2010 - TIOL - 452 - ITA T - 10) AND ALSO IN THE CASE OF M/S TECHNOVATE E SOLUTIONS P.LTD. VS. DY.CIT, CIRCLE 16(1), N.DEL IN ITA NO.135/DEL/2011 FOR THE AY 2003 - 04 , A T THE TIME OF FILING OF THE APPEAL BY THE REVENUE. LATER THE HON BLE DELHI HIGH COURT REVERSED THE DECISION OF THE TRIBUNAL IN CASE REPORTED IN 353 ITR 326. F URTHER A REVIEW PETITION WAS FILED BEFORE THE HON BLE DELHI HIGH COURT IN THE CASE OF VA L L IANT COMMUNICATION LTD. A ND RE GENCY CREATIONS LTD. V IDE ORDER DT. 4.1.2013 IN VA L LIANT COMMUNICATION LTD. A DMITTED THE ALTERNATIVE CONTENTION OF THE ASSESSEE , FOR A LLOWING DEDUCTION U/S10A OF THE ACT AND DIRECTED THE AO TO EXAMINE THE SAME. IT WAS FURTHER SUBMITTED THAT AS THE JUDGEMENT OF HON BLE DELHI HIGH COURT IN THE REVIEW PETITIONS IN THE CASE OF VA L LIANT COMMUNICATION LTD. AND REGENCY CREATIONS LTD. W ERE NOT REPORTED DECISIONS, THEY WERE NOT WITHIN THE KNOWLEDGE OF THE ASSESSEE AND IT WAS ONLY WHEN THEY APPROACHED THE COUNSEL M/S VAISH ASSOCIATES, ADVOCATES AND ENGAGED THEM ON 16.7.201 0 , T HE Y WERE LEGALLY ADVISED TO FILE THE CROSS OBJECTIONS AND CLAIM DEDUC TION U/S 10A OF THE ACT. RELIANCE WAS PLACED ON THE JUDGEMENTS OF HON BLE SUPREME COURT: (A) IN THE CASE OF VEDA BAI ALIAS ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 3 VAIJAYANTABAI BABURAO PATIL VS. SHANTARAM BABURAO PATIL REPORTED IN 253 ITR 798 AND (B) COLLECTOR, LAND ACQUISITION VS. M ST. KATIJI 167 ITR 471 AND IT WAS PRAYED THAT THE DELAY BE CONDONED AND THE CROSS OBJECTIONS BE ADMITTED. 2. FACTS IN BRIEF : - THE ASSESSEE COMPANY IS A SUBSIDIARY COMPANY OF FAST BOOKING, FRANCE. IT IS A 100% EXPORT ORIENTED UNIT (EOU) AND ENGAGED IN THE B USINESS OF DEVELOPMENT OF SOFTWARE AND REGISTERED WITH SOFTWARE TECHNOLOGY PARK OF INDIA, NOIDA. IN THE ASSESSMENT ORDER, THE AO HAS DISALLOWED DEDUCTION U/S 10B CLAIMED BY THE ASSESSEE AND ALSO DISALLOWED THE CLAIM OF THE ASSESSEE THAT DEDUCTION U/S 10B IS TO BE GIVEN FIRST WITHOUT SETTING OFF BROUGHT FORWARD LOSSES AND UNABSORBED DEPRECIATION. 2.1. ON APPEAL THE FIRST APPELLATE AUTHORITY APPLIED THE DECISION OF THIS BENCH OF THE TRIBUNAL IN THE CASE OF VA LLIANT COMMUNICATION P.LTD. (SUPRA) AND ALLOWE D THE CLAIM OF THE ASSESSEE. 3. AGGRIEVED THE REVENUE IS IN APPEAL BEFORE US ON THE FOLLOWING GROUNDS. ( I ) GROUNDS FOR AY 2009 - 10 : - 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.60,35,911/ - MA DE ON ACCOUNT OF DISALLOWANCE U/S 10B OF THE ACT. 2. THE APPELLANT CRAVES LEAVE TO ADD, ALTER OR AMEND ANY GROUND OF APPEAL RAISED ABOVE AT THE TIME OF HEARING. ( II ) GROUNDS FOR AY 2008 - 09 : 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN ALLOWING DEDUCTION U/S 10B OF THE ACT AS THE MANDATORY REQUIREMENT OF ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 4 GETTING APPROVAL FROM BOARD APPOINTED U/S 14 OF THE IDR ACT, 1951 IS NOT FULFILLED. 2. LD.CIT(A) HAS ER RED IN COMPUTING THE TOTAL INCOME FOR THE PURPOSE OF DEDUCTIONS U/S 10B OF THE ACT WITHOUT SETTING OFF OF BROUGHT FORWARD BUSINESS LOSSES/AND UNABSORBED DEPRECIATION OF THE PYS. 3. LD.CIT(A) ALSO ERRED IN COMPUTING THE TOTAL INCOME FOR THE PURPOSE OF DEDUC TION U/S 10B OF THE ACT WITHOUT ADJUSTING CURRENT YEAR S DEPRECIATION. 4. THE APPELLANT CRAVES LEAVE TO ADD, ALTER OR AMEND ANY GROUND OF APPEAL RAISED ABOVE AT THE TIME OF HEARING. 3.1. THE ASSESSEE FILED C.OS ON THE FOLLOWING GROUNDS. (I) GROUNDS OF CR OSS OBJECTION FOR THE AY 2009 - 10: - THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, WITHOUT PREJUDICE TO THE CLAIM OF DEDUCTION U/S 10B OF THE ACT, THE PROFITS DERIVED FROM THE EXPORT OF COMPUTER SOFTWARE BY THE UNIT SET UP UNDER SOFTWARE TECHN OLOGY PARK WERE, IN THE ALTERNATIVE, ELIGIBLE FOR DEDUCTION U/S 10A OF THE ACT AND DEDUCTION OUGHT TO HAVE BEEN ALLOWED UNDER THAT SECTION. (I) GROUNDS OF CROSS OBJECTION FOR THE AY 200 8 - 09 : - THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, WITHOUT PREJUDICE TO THE CLAIM OF DEDUCTION U/S 10B OF THE ACT, THE PROFITS DERIVED FROM THE EXPORT OF COMPUTER SOFTWARE BY THE UNIT SET UP UNDER SOFTWARE TECHNOLOGY PARK WERE, IN THE ALTERNATIVE, ELIGIBLE FOR DEDUCTION U/S 10A OF THE ACT AND DEDUCTION OUG HT TO HAVE BEEN ALLOWED UNDER THAT SECTION. 4. WE HAVE HEARD MR.RAKESH JAIN , THE LD.COUNSEL FOR THE ASSESSEE AND SMT.PARWINDER KAUR , LD.SR.D.R. ON BEHALF OF THE REVENUE. ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 5 4.1 . SMT.PARWINDER KAUR , LD.SR.D.R. STRONGLY OPPOSED THE CONTENTIONS OF THE ASSES SEE AND SUBMITTED THAT THE DELAY SHOULD NOT BE CONDONED. 5 . AFTER HEARING RIVAL CONTENTIONS, PERUSING THE MATERIAL PLACED ON RECORD, ORDERS OF LOWER AUTHORITIES AND CASE LAWS CITED, WE HOLD AS UNDER. 5.1. ADMITTEDLY THE ISSUE BEFORE US IS COVERED AGAINST T HE ASSESSEE AND IN FAVOUR OF THE REVENUE BY THE DECISION OF THE JURISDICTIONAL HIGH COURT IN THE CASE VA L LIANT COMMUNICATION LTD. A ND REGENCY CREATIONS LTD., (SUPRA) WHEREIN THE HON BLE DELHI HIGH COURT HAS REVERSED THE ORDER PASSED BY THE TRIBUNAL IN IT A 2002/2010 AND ITA 438/2012 AND OTHER JUDGEMENTS DT. 4 TH JANUARY, 2013. RESPECTFULLY FOLLOWING THE JUDGEMENT OF THE JURISDICTIONAL HIGH COURT, WE ALLOW THE GROUNDS OF REVENUE AND RESTORE THE ORDER OF THE AO DISALLOWING THE CLAIM MADE BY THE ASSESSEE U/S 10B OF THE ACT. 5.2. IN THE RESULT THE APPEAL FOR THE AY 2009 - 10 IS ALLOWED. 6. ITA 315/DEL/2012 IS T HE APPEAL BY THE REVENUE FOR THE AY 2008 - 09 . TWO MORE GROUNDS WERE RAISED BY THE REVENUE. THESE PERTAIN TO COMPUTATION OF DEDUCTION U/S 10B OF THE ACT. A S WE HAVE HELD THAT THE ASSESSEE IS NOT ENTITLED FOR DEDUCTION U/S 10B, THESE TWO GROUNDS RELAT ING TO SETTING OF BROUGHT FORWARD BUSINESS LOSSES AND UNABSORBED DEPRECIATION CLAIMING DEDUCTION U/S 10B BECOME INFRUCTUOUS. 6.1. IN THE RESULT THE APPEAL FOR THE AY 2008 - 09 IS ALSO ALLOWED. ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 6 7. ON THE ISSUE OF DELAY IN FILING THE CROSS OBJECTIONS, WE ARE OF THE CONSIDERED OPINION THAT THE DELAY HAS TO BE CONDONED AS IN OUR VIEW, THE SEQUENCE OF EVENTS AND FACTS DEMONSTRATE THAT THE ASSESSEE WAS PREVENTED BY SUFFICIENT CAUSE IN FILING THE CROSS OBJECTIONS IN TIME. HENCE WE CONDONE THE DELAY AND ADMIT THE CROSS OBJECTIONS. 7. 1. IN THE CROSS OBJECTIONS THE ASSESSEE MADE A PLEA THAT IT IS ELIGIBLE FOR DEDUCTION U/S 10A OF THE ACT AND THE ISSUE IS TO BE SET ASIDE TO THE FILE OF AO TO EXAMINE THIS CLAIM. 7. 2 . SMT.PARWINDER KAUR , LD.SR.D.R. RELIES ON THE DECISION OF DELHI A BE NCH OF THE TRIBUNAL IN THE CASE OF ITO VS. NEETEE CLOTHING (P) LTD. IN ITA NO.1123/DEL/2007 AND C.O.NO.98/DEL/2008 REPORTED IN (2010) 121 TTJ 342 (DEL) ON THE ARGUMENTS THAT THE CROSS OBJECTIONS CANNOT BE RAISED, WHEREIN AN ENTIRELY NEW CLAIM IS SOUGHT TO BE MADE. SHE SPECIFICALLY RELIED ON PARAS 10 TO 19 OF THE ORDER AND ARGUED THAT THE JUDGEMENT IN THE CASE OF NTPC LTD. VS. CIT REPORTED IN 229 ITR 383 (SC) COMES TO THE RESCUE OF THE ASSESSEE ONLY AFTER AN APPEAL IS FILED BY THE ASSESSEE AND IN A C.O. THE ASSESSEE CAN RAISE A GROUND IF IT ARISES OUT OF THE ORDER OF THE APPELLATE AUTHORITY. 7. 3 . IN REPLY THE LD.COUNSEL FOR THE ASSESSEE RELIED ON THE JUDGEMENT OF HON BLE GAUHATI HIGH COURT IN ASSAM CO. (INDIA) LTD. VS. CIT 256 ITR 423 (GAU) AND SUBMITTED THAT IT WAS HELD THAT A CLAIM UNDER ONE CLAUSE BEFORE THE AO AND CLAIM UNDER DIFFERENT CLAUSE BEFORE THE TRIBUNAL CAN BE MADE ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 7 AND THE TRIBUNAL MUST CONSIDER THE CLAIM IF FACTS SUPPORTING THE SAME ARE ON RECORD. HE RELIED ON THE DECISION IN THE CASE OF REGENCY CREATIONS LTD. A ND VA LL IANT COMMUNICATION LTD. (SUPRA) BY THE HON BLE DELHI HIGH COURT IN THE REVIEW PETITION AND SUBMITTED THAT THE ALTERNATE CLAIM OF THE ASSESSEE UNDER THE VERY SAME SECTION, IN ALL FAIRNESS SHOULD BE CONSIDERED AS PER THE FACTS ON RECORD. 8. AFTER HEARING RIVAL SUBMISSIONS, WE FIND THAT THE TRIBUNAL IN THE CASE OF M/S NEETEE CLOTHING PVT.LTD. HAS CONSIDERED THE ISSUE AT LENGTH AND AT PARAS 17 AND 18 HELD AS FOLLOWS. 17. FROM ABOVE DISCUSSION IT IS CLEAR THAT AN AGGRIEVED PARTY CAN FILE MEMORANDUM OF CROSS OBJECTION ONLY WHEN AN ISSUE HAS BEEN DECIDED AGAINST THE CROSS OBJECTOR. IN THE CASE BEFORE US THE ASSESSEE HAS NOT CHALLENGED THE REOPENING OF ASSESSMENT BEFORE CIT(A). LD . CIT(A) HAS ALSO NOT ADJUDICATED UPON THE ISSUE OF ASSUMPTION OF JURISDICTION AS THE ISSUE WAS NOT BEFORE HIM. THEREFORE THE ISSUE RELATING TO ASSUMPTION OF JURISDICTION RAISED IN THE CROSS OBJECTION BY THE ASSESSEE IS NOT SUBJECT MATTER OF APPEAL BEFORE THIS TRIBUNAL AND HENCE ASSESSEE CAN NEITHER FILE APPEAL BEFORE THE TRIBUNAL NOR MEMORANDUM OF CROSS OBJECTION RAISING THE ISSUE RELATING TO ASSUMPTION OF JURISDICTION EVEN WHEN THE ASSESSEE HAS RIGHT TO FILE CROSS OBJECTION AGAINST THE WHOLE ORDER OF CIT(A). 18. WE ARE ALSO AWARE OF DECISION OF HON BLE SUPREME COURT IN THE CASE OF NATIONAL THERMAL POWER CO. LTD. V. CIT [1998] 229 ITR 383 (SC) WHEREIN IT HAS BEEN HELD THAT IF, AS A RESULT OF A JUDICIAL DECISION GIVEN WHILE THE APPEAL IS PENDING BEFORE THE TRIBUNAL, IT IS FOUND THAT A NON - TAXABLE ITEM IS T AXED OR A PERMISSIBLE DEDUCTION IS DENIED, THERE IS NO REASON WHY THE ASSESSEE SHOULD BE PREVENTED FROM RAISING THAT QUESTION BEFORE THE TRIBUNAL FOR THE FIRST TIME, SO LONG AS THE RELEVANT FACTS ARE ON RECORD IN RESPECT OF THAT ITEM WHEN IT IS NECESSARY T O CONSIDER THAT QUESTION IN ORDER TO CORRECTLY ASSESS THE TAX LIABILITY ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 8 OF AN ASSESSEE. THE DECISION OF HON BLE SUPREME COURT IN THE CASE OF NATIONAL THERMAL POWER CO. LTD. CAN BE PRESSED INTO OPERATION BY THE ASSESSEE IF THE ASSESSEE IS IN APPEAL BEFORE T HE TRIBUNAL AND HAS BY ANY REASON OMITTED TO RAISE A GROUND BEFORE THE LOWER AUTHORITIES RELATING TO RELIEF OR DEDUCTION PROVIDED THAT ASSESSEE EXPLAINS THE REASONS FOR NOT RAISING THE GROUND BEFORE THE LOWER AUTHORITY AND ENTIRE MATERIAL RELATING TO SUCH LEGAL GROUND IS AVAILABLE ON RECORD. IN CROSS OBJECTION THE ASSESSEE CAN RAISE A GROUND IF IT ARISES OUT OF ORDER OF APPELLATE AUTHORITY. AS DISCUSSED ABOVE THE ASSESSEE IS NEITHER IN APPEAL BEFORE US AGAINST THE ORDER OF CIT(A) NOR HAS EXPLAINED THE REASO NS FOR NOT RAISING THE ISSUE RELATING TO ASSUMPTION OF JURISDICTION BY THE ASSESSING OFFICER BEFORE THE LOWER AUTHORITY. AS A MATTER OF FACT THE ISSUE DOES NOT ARISE OUT OF ORDER OF CIT(A). WITH EFFECT FROM 1.4.1999 U/S 80IA(9) READ WITH SEC. 80IB(13) THE PROFITS IN RESPECT OF WHICH THE DEDUCTION U/S 80IB HAS BEEN ALLOWED, IS TO BE REDUCED FROM ELIGIBLE BUSINESS PROFITS FOR THE PURPOSES OF DEDUCTION U/S 80HHC OF THE ACT. THE ASSESSEE BY WAY OF CROSS OBJECTION IS NOT SEEKING RELIEF TO WHICH IT IS ENTITLED TO BUT SEEKING CANCELLATION OF REASSESSMENT PROCEEDING SO THAT ADDITIONAL TAX RELATING TO ESCAPED INCOME MAY NOT BE FASTENED ON HIM AND HENCE THE ASSESSEE ATTEMPTING TO AVOID PAYMENT OF DUE TAX TO REVENUE. UNDER THESE CIRCUMSTANCES ASSESSEE CANNOT BE PERMIT TED TO RAISE A GROUND NOT ARISING FROM THE ORDER OF CIT(A) THAT TOO BY WAY OF CROSS - OBJECTIONS. CONSEQUENTLY THE DECISION OF NTPC LTD (SUPRA) CANNOT BE PRESSED INTO SERVICE FOR GETTING THE ASSESSMENT ANNULLED IN APPEAL FILED BY THE REVENUE. IN VIEW OF ABOV E DISCUSSIONS WE ARE OF THE CONSIDERED OPINION THE CROSS OBJECTION FILED BY THE ASSESSEE WITH AN OBJECTIVE TO GET THE ASSESSMENT ANNULLED IS NOT MAINTAINABLE AND DESERVES TO BE DISMISSED. 19. THUS FROM ABOVE DISCUSSION WE HOLD THAT THE CROSS OBJECTION BY THE ASSESSEE IS TO BE DISMISSED ON MERITS AS WELL AS ON MAINTAINABILITY AS THE ISSUE RAISED DOES NOT ARISE FROM THE ORDER OF CIT(A). 8.1. THE ISSUE BEFORE US IS WHETHER THE C.O. IS MAINTAINABLE. THE ASSESSEE HAS NOT FILED BEFORE US ANY CONTRADICTORY DEC ISION. THE JUDGEMENT CITED BY THE ASSESSEE A RE NOT ON THE ISSUE OF MAINTAINABILITY OF CROSS OBJECTIONS. ITA NO.116/DEL/2013 ITA NO. 315/DEL/12 C.O.NO. 125/DEL/13 C.O.NO.145/DEL/14 AY 2008 - 09 AND 2009 - 10 M/S FAST BOOKING INDIA PVT.LTD., NEW DELHI 9 8.2. RESPECTFULLY FOLLOWING THE DECISION OF THE COORDINATE BENCH OF THE TRIBUNAL IN THE CASE OF NEETEE CLOTHING PVT.LTD. (SUPRA), WE DISMISS THE GROUN DS OF C.O. AS NOT MAINTAINABLE . 8.3. IN THE RESULT THE CROSS OBJECTIONS ARE DISMISSED. 9. IN THE RESULT THE APPEALS OF THE REVENUE ARE ALLOWED, WHERE AS THE C.OS OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 10 TH DECEMBER, 2014. SD/ - SD/ - (C.M. GARG) (J.SUDHAKAR REDDY) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: THE 10 TH DECEMBER, 2014 *MANGA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR