M/s. SAI CONSTRUCTION & DEVELOPERS, MUMBAI V. ITO - 25(3)(4), MUMBAI

ITA 144/MUM/2007

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 1640 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-10-2009
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2003-2004
• Appeal Filed On: 05-01-2007
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LALCHAND
• Assessee Lawyers: AJAY R SINGH
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH: MUM BAI BEFORE SHRI T. R. SOOD, ACCOUNTANT MEMBER AND SHRI V. D. RAO, JUDICIAL MEMBER ITA NO 144/MUM/2007 (ASSESSMENT YEAR: 2003-04) M/S SAI CONSTRUCTIONS & DEVELOPERS, C WING, 1ST FLOOR, SHRI KRISHNA COMPLEX, OPP NATIONAL PARK, BORIVALI (EAST), MUMBAI -400 063 PAN: AAMFS 8809 M VS INCOME TAX OFFICER -25(3)(4), C-11, 3RD FLOOR, 305 PRATYAKSHAKAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI -400 051 APPELLANT RESPONDENT ASSESSEE BY: SHRI AJAY R SINGH REVENUE BY: SHRI LAL CHAND ORDER PER T. R. SOOD, ACCOUNTANT MEMBER IN THIS APPEAL THE ASSESSEE HAS RAISED FOLLOWING GR OUNDS:- DISALLOWANCE OF DEDUCTION U/S 80IB(10) FOR RS 25,0 2,283/- ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LEARNED CIT (A) HAS ERRED IN DISALLOWING DEDUCTION U/S 80IB(10) OF THE INCOME TAX ACT, 1961 OF RS 26,02,283/- CLAIMED FOR THE YEAR UNDER CONSIDERATIO N. THE APPELLANT PLEADS THAT THE DEDUCTION OF RS 25,02,283/- U/S 80IB(10) OF THE INCOME TAX ACT, 1961 BE ALLOWED. 2. AT THE OUT SET, THE LEARNED COUNSEL FOR THE ASSE SSEE SUBMITTED THAT ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE D ECISION OF THE SPECIAL BENCH IN CASE OF BRAHMA ASSOCIATES VS JCIT (315 ITR 268)(AT) AS WELL AS ASSESSEES OWN CASE IN ITA 5077/MUM/2007. 3. ON THE OTHER HAND, THE LEARNED DR RELIED ON THE ORDERS OF THE LOWER AUTHORITIES. M/S SAI CONSTRUCTIONS & DEVELOPERS 2 4. AFTER CONSIDERING RIVAL SUBMISSIONS WE FIND THAT ISSUE REGARDING DEDUCTION U/S 80IB(10) IS COVERED BY THE DECISION OF SPECIAL BENC H IN CASE OF BRAHMA ASSOCIATES (SUPRA). THEREFORE, WE SET ASIDE THE ORDER OF LEAR NED CIT (A) AND DIRECT THE AO TO DECIDE THE ISSUE IN ACCORDANCE WITH THE DECISION OF SPECIAL BENCH IN THE CASE OF BRAHMA ASSOCIATES. 5. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON 1ST DAY OF OCTOBER 2009. SD/- (V. D. RAO) JUDICIAL MEMBER SD/- (T. R. SOOD) ACCOUNTANT MEMBER MUMBAI, DATE: 1ST OCTOBER 2009 COPY TO:- 1) THE APPELLANT. 2) THE RESPONDENT. 3) THE CIT (A) XXV, MUMBAI. 4) THE CIT-MUMBAI CITY-25, MUMBAI. 5) THE D.R. E BENCH, ITAT, MUMBAI BY ORDER / / TRUE COPY / / ASSTT. REGISTRAR CHAVAN* I.T.A.T., MUMBAI M/S SAI CONSTRUCTIONS & DEVELOPERS 3 SR.N. EPISODE OF AN ORDER DATE INITIALS CONCERNED 1 DRAFT DICTATED ON 18.9.09 SR.PS 2 DRAFT PLACED BEFORE AUTHOR 22.9.09 SR.PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.PS SR.PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS 7 FILE SENT TO THE BENCH CLERK SR.PS 8 DATE ON WHICH FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER