DCIT, CHENNAI V. Carbonaire Industries (Madras) P. Ltd., CHENNAI

ITA 1443/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 96330 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2015
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 09-09-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 15-06-2015
• Court: TRIBUNAL
• Department Lawyers: DR B NISCHAL JICT
• Assessee Lawyers: G SEETHARAMANC A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI ... , . , , BEFORE SHRI N.R.S.GANESAN, JUDICIAL MEMBER AND SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ I.T.A.NO.1443 /MDS./2015 ( !' #' / ASSESSMENT YEAR :2010-11) DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE-I(2), CHENNAI 600 034. VS. M/S.CARBONAIRE INDUSTRIES (MADRAS) P. LTD., NEW NO.207, ST.MARYS ROAD, ALWARPET, CHENNAI 600 018. PAN AAACC 4731 H ( / APPELLANT ) ( / RESPONDENT ) $% & ' / APPELLANT BY : DR.B.NISCHAL, JICT, D.R ()$% & ' / RESPONDENT BY : MR.G.SEETHARAMAN, C.A * + & ,- / DATE OF HEARING : 09.09.2015 .# & ,- /DATE OF PRONOUNCEMENT : 06.11.2015 / O R D E R ITA NO.1443 /MDS/2015 2 PER A.MOHAN ALANKAMONY , ACCOUNTANT MEMBER: THIS APPEAL IS FILED BY THE REVENUE , AGGRIEVED B Y THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX(A)-I, CHENNA I DATED 18.02.2015 IN OLD ITA NO.142/13-14/A-1(NEW NO.ITA 6 6/13-14/2013- 14 PASSED UNDER SEC.143(3) READ WITH SECTION SEC. 250 OF THE ACT. 2. THE REVENUE HAS RAISED FOUR ELABORATE GROUNDS I N ITS APPEAL, HOWEVER THE CRUX OF THE ISSUE IS THAT THE REVENUE I S AGGRIEVED BY THE ORDER OF THE LD. CIT (A), WHO HAD DIRECTED TO THE L D. ASSESSING OFFICER TO ALLOW DEDUCTION U/S.10B OF THE ACT BASED ON FRESH EVIDENCE PRODUCED BEFORE HIM WITHOUT OBTAINING REMAND REPORT FROM THE AO 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESS EE IS A COMPANY, ENGAGED IN THE BUSINESS OF MANUFACTURING OF PLASTI C INJECTION MOULDS AND MOULDINGS AND ALSO IN EXPORT BUSINESS, FILED I TS RETURN OF INCOME FOR THE ASSESSMENT YEAR 2010-11 ON 15.10.2010 ADMIT TING TOTAL INCOME AS ` 94,15,144/-. SUBSEQUENTLY THE CASE WAS TAKEN UP FOR SCRUTINY AND THE ASSESSMENT U/S.143(3) OF THE ACT W AS COMPLETED ON 20.03.2013 WHEREIN THE LD. ASSESSING OFFICER DENIED EXEMPTION ITA NO.1443 /MDS/2015 3 U/S.10B OF THE ACT FOR WANT OF RATIFICATION OF BOAR D OF APPROVAL FOR EOU SCHEME. ON APPEAL THE LD. CIT (A) ALLOWED THE CLAIM OF THE ASSESSEE BECAUSE THE ASSESSEE HAD FILED THE APPROVA L BEFORE HIM FROM THE DEVELOPMENT COMMISSIONER WHICH WAS FURTHER RATIFIED BY THE BOARD OF APPROVALS DATED 16.12.2013. 4. BEFORE US, THE LD. D.R. SUBMITTED THAT SINCE TH E APPROVAL WAS NOT SUBMITTED BEFORE THE LD. ASSESSING OFFICER, THE MATTER MAY BE REMITTED BACK TO HIS FILE THEREBY GIVING AN OPPORTU NITY FOR HIM TO VERIFY THE DOCUMENTS AND THUS ADHERE TO THE RULE 46A OF TH E I.T. RULES. THE LD. A.R THOUGH OBJECTED TO THE SUBMISSIONS OF T HE LD. D.R, CONCEDED TO HIS REQUEST. 5. AFTER HEARING THE BOTH SIDES, KEEPING IN VIEW OF THE RULE 46A OF THE I.T RULES, WE HEREBY REMIT BACK THE MATT ER TO THE FILE OF LD. ASSESSING OFFICER FOR VERIFYING THE REQUISITE DOCUM ENTS AS PER THE PROVISIONS OF THE ACT. ITA NO.1443 /MDS/2015 4 6. IN THE RESULT, THE APPEAL OF REVENUE IS ALLOWE D FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON 6 TH NOVEMBER, 2015 AT CHENNAI. SD/- SD/- ( . . . ) ( N.R.S.GANESAN ) ( . '#$ %' ) (A.MOHAN ALANKAMONY) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED 6 TH NOVEMBER, 2015. K S SUNDARAM. & (,/0 1 0#, /COPY TO: 1. $% /APPELLANT 2. ()$% /RESPONDENT 3. * 2, ( ) /CIT(A) 4. * 2, /CIT 5. 05 (,6! /DR 6. 7' 8+ /GF