M/s Rubykon Manufacturing Co., Sirmour V. DCIT, Shimla

ITA 1447/CHANDI/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 8249 (ITAT-CHANDIGARH)
• Duration Of Justice: 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-03-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 26-12-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 92; 80IC; 80IC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH,CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS.ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA NO. 1447/CHD/2016 ASSESSMENT YEAR : 2012-13 M/S RUBYKON MANUFACTURING CO., VS THE DCIT, OGLI, KALA AMB, SHIMLA. DISTT. SIRMOUR. PAN: AAJFR0316D (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI AMITOZ SINGH KA MBOJ RESPONDENT BY : SHRI MANJIT SINGH,DR DATE OF HEARING : 21.02.2017 DATE OF PRONOUNCEMENT : 01.03.2017 O R D E R PER BHAVNESH SAINI,JM THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF LD. CIT(APPEALS), SHIMLA DATED 27.10.2 016 FOR ASSESSMENT YEAR 2012-13, CHALLENGING THE ORDER OF LD. CIT(APPEALS) IN RESTRICTING DEDUCTION UNDER SEC TION 80IC OF THE ACT @ 25% AGAINST 100% CLAIMED BY ASSESSEE. 2. BRIEFLY THE FACTS OF THE CASE ARE THAT ASSESSEE STARTED ITS BUSINESS ACTIVITY/OPERATION ON 08.04.20 06 2 AND INITIAL ASSESSMENT YEAR FOR CLAIM OF DEDUCTION UNDER SECTION 80IC OF THE ACT WAS ASSESSMENT YEAR 2007-08 . THE ASSESSEE CLAIMED DEDUCTION UNDER SECTION 80IC O F THE ACT TO THE EXTENT OF 100% ELIGIBLE PROFIT FOR F IVE YEAR PERIOD FOR ASSESSMENT YEAR 2007-08 TO ASSESSMENT YE AR 2011-12. THE ASSESSING OFFICER CONSIDERING THE ISS UE IN DETAIL, RESTRICTED THE CLAIM OF DEDUCTION UNDER SEC TION 80IC OF THE ACT AT 25% AS AGAINST 100% CLAIMED BY ASSESSEE IN ASSESSMENT YEAR UNDER APPEAL. 3. THE LD. CIT(APPEALS) FOUND THAT ISSUE HAS ALREAD Y BEEN DECIDED BY ITAT CHANDIGARH BENCH IN THE CASE O F M/S HYCRON ELECTRONICS (SUPRA) VS ITO (REPORTED IN 41 ITR (CHD) 486 IN WHICH IT WAS HELD THAT, ASSESSEE IS ENTITLED TO ONLY 25% OF THE DEDUCTION DURING THE PR ESENT YEAR BECAUSE ASSESSEE HAD ALREADY AVAILED THE PERIO D OF FULL DEDUCTION @ 100% IN EARLIER FIVE YEARS I.E. FR OM ASSESSMENT YEARS 2004-05 TO 2008-09. THE LD. CIT(APPEALS) REPRODUCED THE ORDER OF THE TRIBUNAL I N THE IMPUGNED ORDER AND DISMISSED THE APPEAL OF THE ASSESSEES. 4. LD. REPRESENTATIVES OF BOTH THE PARTIES SUBMITTE D THAT ISSUE IS COVERED AGAINST THE ASSESSEE BY ORDER OF ITAT CHANDIGARH BENCH IN THE CASE OF M/S HYCRON ELECTRONICS (SUPRA). NO INFIRMITY HAS BEEN POINT ED OUT 3 IN THE ORDER OF LD. CIT(APPEALS) IN FOLLOWING THE O RDER OF THE TRIBUNAL. 5. THE APPEAL OF THE ASSESSEE, THEREFORE, STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- ( ANNAPURNA GUPTA) (BHAVNESH SAINI ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 1 ST MARCH, 2017. POONAM COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. THE CIT,DR ASSISTANT REGISTRAR, ITAT/CHD