Shri Pratikkumar Surshchandra Bhoot, Amaravati V. Assistant Commissioner of Income tax Central Circle-1(4), Nagpur

ITA 130/NAG/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93439 (ITAT-NAGPUR)
• Duration Of Justice: 2 year(s) 3 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 08-04-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KANE
• Keywords: Capital receipt
• Section: 143(3); 153A

Judgement Text

1 ITA NOS. 130 TO 133/NAG/2013 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. S.NO. I.T.A. NO. ASSTT. YEAR. 1. 130 /NAG/2013 200 6 - 07 2. 1 31 /NAG/2013 200 7 - 08 3. 1 32 /NAG/2013 200 8 - 09 4. 1 33 /NAG/2013 200 9 - 10 SHRI PRATIKKUMAR SURESHCHANDRA BHOOT, ASSTT. COMMISSIONER OF RALLIES ROAD, AMRAVATI. V/S. INCOME TAX, PAN AARPB6840Q CENTRAL CIRCLE - 1(4), NAGPUR. APPELLANT RESPONDENT. APPELLANT BY : SHRI K.P. DEWANI. RESPONDENT BY : SHRI NARENDRA KANE. DATE OF HEARING : 03 - 06 - 2015 DATE OF PRONOUNCEMENT : 31 ST JULY, 2015. O R D E R PER BENCH. THESE FOUR APPEALS HAVE BEEN FILED BY THE ASSESSEE EMANATING FROM A COMBINED ORDER OF LEARNED CIT(APPEALS) - I, NAGPUR DATED 6 TH MARCH, 2013 PERTAINING TO ASSESSMENT YEARS 2006 - 07 TO 2009 - 10. SINCE THESE APPEALS HAVE 2 ITA NOS. 130 TO 133/NAG/2013 COMMON GRO UNDS AS WELL AS THE FACTS ARE ALSO IDENTICAL, THEREFORE, HEREBY CONSOLIDATED AND DECIDED BY THIS COMMON ORDER. 2. FOR THE SAKE OF CONVENIENCE WE HAVE TAKEN UP ASSESSMENT YEAR 2006 - 07, THE YEAR, FOR REFERENCE AND THE GROUNDS ARE REPRODUCED BELOW : 1. THE LEARNED CIT(A) ERRED IN HOLDING THAT SALES TAX INCENTIVE AVAILED F OR SETTING UP OF INDUSTRIAL UNDERTAKING CLAIMED BY ASSESSEE AS CAPITAL RECEIPT AT ` .8,35,842/ - CAN NOT BE ALLOWED IN ASSESSMENT FRAMED U/S 143(3) R.W..S. 153A OF I.T. ACT, 1961. 2. THE LEARNED A.O. ERRED IN ASSESSING SALES TAX INCENTIVE AVAILED AS REVENUE RECEIPT AND NOT ACCEPTING THE CLAIM OF ASSESSEE FOR THE SAME BEING CAPITAL RECEIPT AT THE HANDS OF THE ASSESSEE. 3. TH E LEARNED A.O. OUGHT TO HAVE ACCEPTED THE CLAIM OF ASSESSEE THAT SALES TAX INCENTIVE AVAILED AT ` . 8,35,842/ - / - UNDER SCHEME OF INCENTIVE BY GOVERNMENT OF MAHARASHTRA IS CAPITAL RECEIPT AND NOT CHARGEABLE TO TAX. 3. ON IDENTICAL FACTS AN D CIRCUMSTANCES WE HAVE TAKEN A VIEW IN A GROUP OF CASES OF M/S NARENDRA VEGETABLE PRODUCTS PVT. LTD. BEARING ITA NOS. 11 8 TO 124/NAG/2013 FOR ASSESSMENT YEARS 2003 - 04 TO 2009 - 10 VIDE ORDER EVEN DATED 31 ST JULY, 2015. FOLLOWING THE REASONS ASSIGNED IN THE SAID ORDER, WE HEREBY DECIDE GROUND NOS. 1,2 AND 3 IN FAVOUR OF THE ASSESSEE. RESULTANTLY, ALL THE APPEALS ARE ALLOWED. 4. IN THE RESULT, THE APPEALS FILED BY THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 31 ST DAY OF JULY, 2015. SD/ - SD/ - ( SHAMIM YAHYA) (MUKUL K. SHRAWAT) ACCOUNTANT MEMBER. JUDICIAL MEMBER NAGPUR, DATED: 31 ST JULY, 2015. 3 ITA NOS. 130 TO 133/NAG/2013 COPY OF ORDER FORWARDED TO : 1. THE ASSESSEE. 2. REVENUE. 3. THE CIT(A) 4. THE CIT, NAGPUR. 5. THE D.R., ITAT, NAGPUR. 6. GUARD FILE. TRUE COPY. BY ORDER WAKODE ASSISTANT REGISTRAR, ITAT, NAGPUR