DCIT, Circle, Sangrur V. M/s Best Milk Products Pvt. Ltd., Sangrur

ITA 143/CHANDI/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4507 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 06-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: YOGAESH MONGA
• Assessee Lawyers: SHIV SWAROOP SINGH

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, A, CHANDIGARH , . '.., # $, %& BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER ./ ITA NO. 143/CHD/2018 / ASSESSMENT YEAR : 2011-12 THE DCIT, CIRCLE, SANGRUR M/S BEST MILK PRODUCTS PRIVATE LIMITED, SANGRUR BARNALA ROAD, SANGRUR ./PAN NO: AACCB6296N / APPELLANT /RESPONDENT ! /ASSESSEE BY : SH. SHIV SWAROOP SINGH, SR. DR ' ! / REVENUE BY : SH. YOGAESH MONGA, CA # $ % /DATE OF HEARING : 29.05.2019 &'() % / DATE OF PRONOUNCEMENT : 31. 05.2019 %'/ ORDER PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE REVENU E AGAINST THE ORDER DATED 28.11.2017 OF THE COMMISSIONER OF INCO ME TAX (APPEALS)- 1, LUDHIANA [HEREINAFTER REFERRED TO AS CIT(A)] AGITATING THE ACTION OF THE CIT(A) IN DELETING THE ADDITION OF 1,94,39,323/- MADE BY THE ASSESSING OFFICER APPLYING THE GP RATE OF 8% AFTER REJECTING THE BOOKS OF ACCOUNT OF THE ASSESSEE. ITA NO. 143/CHD/2018 - M/S BEST MILK PRODUCTS PVT LTD, CHANDIGARH 2 2. THE LD. CIT(A) DELETED THE ADDITION SO MADE BY T HE ASSESSING OFFICER AFTER RELYING UPON THE CIRCULAR NO. 37/2016 OF THE CENTRAL BOARD OF DIRECT TAXES CIRCULAR (CBDT), WHEREIN, IT HAS BE EN PROVIDED THAT IF DUE TO THE EFFECT OF DISALLOWANCE THERE IS AN INCRE ASE IN THE PROFITS AND IF THE ASSESSEE IS ELIGIBLE FOR DEDUCTION UNDER CHAPTE R VI-A, THEN THE DEDUCTION UNDER CHAPTER VI-A WILL BE ADMISSIBLE ON SUCH ENHANCED PROFITS ALSO. 3. THE LD. DR COULD NOT REBUT THE APPLICATION OF TH E AFORESAID CBDT CIRCULAR NO. 37/2016 RELIED UPON BY THE ASSESSEE AS THE ASSESSEE IS ENTITLED TO DEDUCTION U/S 80IB(11) OF THE INCOME T AX ACT, 1961. IN VIEW OF THIS, WE DO NOT FIND ANY INFIRMITY IN TH E ORDER OF THE LD. CIT(A) AND THE SAME IS UPHELD. IN THE RESULT, THE APPEAL OF THE REVENUE IS HEREBY DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.5.2019 SD/- SD/- ( ' . . , # $ / B.R.R. KUMAR) %& / ACCOUNTANT MEMBER ( / SANJAY GARG ) / JUDICIAL MEMBER DATED : 31/05/2019 .. /'+ ,- .- / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. # / / CIT 4. # / ( )/ THE CIT(A) 5. -01 2 , % 2 , 34516 / DR, ITAT, CHANDIGARH 6. 15 7$ / GUARD FILE ITA NO. 143/CHD/2018 - M/S BEST MILK PRODUCTS PVT LTD, CHANDIGARH 3 '+ # / BY ORDER, 8 ' / ASSISTANT REGISTRAR