M/s Aqua Vitoe Laboratries, V. Dy.Commissioner of Income Tax, Parwanoo

ITA 1318/CHANDI/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 5192 (ITAT-CHANDIGARH)
• Duration Of Justice: 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2013-2014
• Appeal Filed On: 08-12-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAVI SARANGA L
• Assessee Lawyers: AMITOZ SINGH KAMBOZ

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA NO. 1318 /CHD/2016 ASSESSMENT YEAR: 2013-14 M/S AQUA VITOE LABORATORIES, VS. THE DCIT, VILLAGE KUNJHAL, PARWANOO (HP). NEAR - JHARMAJRI, BADDI, SOLAN (HP). PAN NO. AAMFA1630L (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI AMITOZ SINGHKAMBOZ RESPONDENT BY : SHRI RAVI SARANGAL DATE OF HEARING : 24.04.2017 DATE OF PRONOUNCEMENT : 26.04.2017 ORDER PER SANJAY GARG, JUDICIAL MEMBER THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSESS EE AGAINST THE ORDER DATED 13.10.2016 OF LD. CIT (APPE ALS), SHIMLA RELATING TO ASSESSMENT YEAR 2013-14. 2. AT THE TIME OF HEARING, IT WAS A COMMON STAND OF THE PARTIES BEFORE THE BENCH THAT THE ISSUE ADDRESSED I N THE PRESENT APPEAL IS IDENTICAL TO WHAT HAS BEEN DECIDE D BY THE CO-ORDINATE BENCH IN ITA NO. 798/CHD/2012 IN THE CA SE OF HYCRON ELECTRONICS VS ITO. 3. THE RELEVANT FACTS OF THE CASE ARE THAT THE ASSE SSEE IS A FIRM ENGAGED IN MANUFACTURING OF DRUGS AND PHARMACE UTICAL PRODUCTS. THE ASSESSEE HAS ALREADY CLAIMED DEDUCT ION UNDER SECTION 80IC OF THE ACT TO THE EXTENT OF 100% ELIGI BLE PROFIT FOR 2 FIVE YEARS PERIOD FROM 2008-09 TO 2012-13 ASSESSME NT YEAR. THE ASSESSEE HAD CLAIMED SUBSTANTIAL EXPANSION IN 2 013-14 ASSESSMENT YEAR ALSO WHICH WAS CONSIDERED TO BE 6 TH YEAR. RELYING UPON THE AFORESAID DECISION OF THE ITAT IN THE CASE OF HYCRON ELECTRONICS (SUPRA), THE CLAIM WAS REJECTED. IN THE AFOREMENTIONED PECULIAR FACTS AND CIRCUMSTANCES, SI NCE THE ISSUE ON FACTS AND LAW AS PER SUBMISSIONS OF THE PA RTIES IS IDENTICAL AND WE FIND THE SUBMISSIONS TO BE CORRECT . ACCORDINGLY, RESPECTFULLY FOLLOWING THE PRECEDENT, THE APPEALS OF THE ASSESSEE ARE REJECTED. 4. IN THE RESULT, APPEALS OF THE ASSESSEE ARE DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL,2017. SD/- SD/- (ANNAPURNA GUPTA) (SANJAY G ARG) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 26 TH APRIL, 2017. POONAM COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR ASSTT. REGISTRAR ITAT,CHANDIGARH.