ACIT, Circle-16(3), Hyderabad V. M/s. PES Engineers Pvt.Ltd, Hyderabad

ITA 1407/HYD/2011

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 53766 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-11-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 01-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V SRINIVAS
• Assessee Lawyers: V RAGHAVENDRA RAO
• Section: 143(3); 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SHRI CHANDRA POOJARI, A.M. & SMT. ASHA VIJAYARAGHAVAN, J.M. ITA NO.1407/HYD/2011 ASSESSMENT YEAR 2008-09 THE ACIT, CIRCLE 16(3), HYDERABAD VS M/S PES ENGINEERS (P) LTD., HYDERABAD (PAN AABCP4220B) APPELLANT RESPONDENT APPELLANT BY : SHRI V. SRINIVAS RESPONDENT BY : SHRI V. RAGHAVENDRA RAO DATE OF HEARING : 14.11.2011 DATE OF PRONOUNCEMENT : 16.11.2011 ORDER PER ASHA VIJAYARAGHAVAN, JM: THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED A GAINST THE ORDER PASSED BY THE CIT(A) V, HYDERABAD DATED 13.6 .2011 AND PERTAINS TO THE ASSESSMENT YEAR 2008-09. 2. BRIEF FACTS OF THE ISSUE ARE THAT THE ASSESSEE COMPANY IS ENGAGED IN THE BUSINESS OF FABRICATION AND ERECTION . THE ASSESSEE COMPANY FILED ITS E-RETURN FOR THE ASSESSMENT YEAR 2007-08 ON 29.9.2008 ADMITTING TOTAL INCOME OF RS.4,17,86,956/ - AFTER CLAIMING DEDUCTION OF RS.3,11,35,144/- U/S 80IB OF THE ACT. THE ASSESSING OFFICER COMPLETED THE ASSESSMENT U/S 143(3) OF THE ACT DETERMINING THE TOTAL INCOME OF THE ASSESSEE COMPANY AT RS.7,29 ,22,100/- BY MAKING THE DISALLOWANCE U/S 80IB OF THE ACT AT RS.3 ,11,35,144/-. ITA NO.1407/HYD/2011 M/S PES ENGINEERINGS (P) LTD., HYDERABAD 2 3. DURING THE COURSE OF APPELLATE PROCEEDINGS, T HE ASSESSEE HAS FURNISHED COPY OF THE APPELLATE ORDER FOR THE ASSESSMENT YEAR 2007-2008 IN ITS OWN CASE. THE CIT( A) FOLLOWING THE APPELLATE ORDERS FOR THE ASSESSMENT YEARS 2005-06 T O 2007-08 HELD THAT THE ASSESSEE IS ENTITLED TO DEDUCTION U/S 80IB IN RESPECT OF UNITS WHERE GENERATORS AND PENSTOCKS ARE BEING FABR ICATED AND ERECTED. 4. WE HEARD BOTH PARTIES. WE FIND THAT THE ISSUE INVOLVED IN THE PRESENT APPEAL, VIZ. ALLOWABILITY OF DEDUCTI ON U/S 80IB IN RESPECT OF UNITS WHERE GENERATORS AND PENSTOCKS ARE BEING FABRICATED AND ERECTED, HAS COME UP FOR ADJUDICATIO N BEFORE THIS TRIBUNAL IN ASSESSEES OWN CASE FOR THE EARLIER YEA RS AND THIS TRIBUNAL FOR THE IMMEDIATELY PRECEDING YEAR VIZ., 2 006-07 IN ITA NO.106/HYD/2010 VIDE ITS ORDER DATED 30 TH APRIL, 2010, HAS DECIDED THE SAME IN FAVOUR OF THE ASSESSEE, FOLLOWING STILL EARLIER DECISIONS OF THE TRIBUNAL ON THIS VERY ISSUE IN ASSESSEES OWN C ASE. CONSISTENT WITH THE VIEW TAKEN BY THE TRIBUNAL IN ASSESSEES O WN CASE FOR EARLIER YEARS ON THE ISSUE INVOLVED IN THIS APPEAL, WE UPHOLD THE ORDER OF THE CIT(A) FOR THE ASSESSMENT YEAR 2008-09 AS WELL AND REJECT THE GROUNDS OF THE REVENUE IN THIS APPEAL. 5. IN THE RESULT, THE REVENUE APPEAL STANDS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT 16.11.2011 SD/- SD/- (CHANDRA POOJARI) (ASHA VIJAYA RAGHAVAN) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 16 TH NOV, 2011 ITA NO.1407/HYD/2011 M/S PES ENGINEERINGS (P) LTD., HYDERABAD 3 COPY FORWARDED TO: 1. THE ACIT, CIRCLE 16(3), HYDERABAD 2. M/S PES ENGINEERINGS P LTD., 1 ST FLOOR, PANCOM CHAMBERS, 6- 3-1090/1/A/ RB ROAD, SOMAJIGUDA, HYDERABAD 3. THE CIT(A) V, HYDERABAD 4. THE CIT, HYDERABAD 5. THE DR, ITAT, HYDERABAD NP/