DCIT, Coimbatore V. Indo Shell Cast Pvt. Ltd., Coimbatore

ITA 1376/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 95920 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 04-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH
• Assessee Lawyers: G BASKAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI ... , ! ', $ %& BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ./ ITA NO.1376/MDS/2015 ( )( / ASSESSMENT YEAR : 2009-10 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1, 63-A, RACE COURSE ROAD, COIMBATORE. V. M/S INDO SHELL CAST PVT. LTD., NO.A-14, SIDCO INDUSTRIAL ESTATE, KURICHI, COIMBATORE 641 021. PAN : AAACI 4299 N (+,/ APPELLANT) (-.+,/ RESPONDENT) +, / 0 / APPELLANT BY : SHRI A.V. SREEKANTH, JCIT -.+, / 0 / RESPONDENT BY : SHRI G. BASKAR, ADVOCATE 1 / 2$ / DATE OF HEARING : 05.08.2015 34) / 2$ / DATE OF PRONOUNCEMENT : 21 . 08.2015 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-1, COIMBAT ORE, DATED 09.03.2015 AND PERTAINS TO ASSESSMENT YEAR 2009-10. THE ONLY 2 I.T.A. NO.1376/MDS/15 ISSUE ARISES FOR CONSIDERATION IS WITH REGARD TO DE DUCTION CLAIMED BY THE ASSESSEE UNDER SECTION 80-IA OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT'). 2. WE HEARD SHRI A.V. SREEKANTH, THE LD. DEPARTMENT AL REPRESENTATIVE AND SHRI G. BASKAR, THE LD.COUNSEL F OR THE ASSESSEE. THE ASSESSEE CLAIMED DEDUCTION UNDER SEC TION 80-IA OF THE ACT IN RESPECT OF TWO WINDMILLS, ON THE BASIS O F THE JUDGMENT OF MADRAS HIGH COURT IN THE CASE OF VELAYUDHASWAMY SPI NNING MILLS (P) LTD. V. ACIT (2012) 340 ITR 477. HOWEVER, THE ASSESSING OFFICER DISALLOWED THE CLAIM OF THE ASSESSEE ON THE GROUND THAT A SPECIAL LEAVE PETITION WAS FILED BEFORE THE APEX CO URT AGAINST THE JUDGMENT OF THE MADRAS HIGH COURT IN VELAYUDHASWAMY SPINNING MILLS (SUPRA). HOWEVER, ON APPEAL BY THE ASSESSEE, THE CIT(APPEALS) ALLOWED THE CLAIM OF THE ASSESSEE BY F OLLOWING THE JUDGMENT OF THE MADRAS HIGH COURT IN VELAYUDHASWAMY SPINNING MILLS (SUPRA). IT IS NOT THE CASE OF THE REVENUE T HAT THE OPERATION OF THE JUDGMENT OF THE MADRAS HIGH COURT IS STAYED BY THE APEX COURT. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT MER E PENDENCY OF SPECIAL LEAVE PETITION BEFORE THE APEX COURT AGAINS T THE JUDGMENT OF THE MADRAS HIGH COURT IN VELAYUDHASWAMY SPINNING MILLS (SUPRA) IS NOT A GROUND FOR NOT FOLLOWING THE BINDI NG JUDGMENT OF 3 I.T.A. NO.1376/MDS/15 JURISDICTIONAL HIGH COURT. THEREFORE, THIS TRIBUNA L IS OF THE CONSIDERED OPINION THAT THE CIT(APPEALS) HAS RIGHTL Y ALLOWED THE CLAIM OF THE ASSESSEE RELYING ON THE JUDGMENT OF TH E MADRAS HIGH COURT IN VELAYUDHASWAMY SPINNING MILLS (P) LTD. (SU PRA). THIS TRIBUNAL DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY, THE SAME IS CONFIRMED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED ON 21 ST AUGUST, 2015 AT CHENNAI. SD/- SD/- ( ! ' ) ( ... ) (CHANDRA POOJARI) (N.R.S. GANESAN) $ / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 6 /DATED, THE 21 ST AUGUST, 2015. KRI. / -278 98)2 /COPY TO: 1. +, /APPELLANT 2. -.+, /RESPONDENT 3. 1 :2 () /CIT(A)-I, COIMBATORE 4. 1 :2 /CIT-1, COIMBATORE 5. 8; -2 /DR 6. <( = /GF.