DCIT, CHENNAI V. Sanco Trans Ltd., CHENNAI

ITA 1522/CHNY/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 8418 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: misc
• Appeal Filed On: 27-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUPRIYO PAL
• Assessee Lawyers: R VIJAYARAGHAVAN

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 ./ ITA NOS.1522 & 1523/MDS/2016 ( )( / ASSESSMENT YEARS : 2010-11 & 2011-12 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 6(1), CHENNAI - 600 034. V. M/S SANCO TRANS LTD., NEW NO.46, MOORE STREET, CHENNAI - 600 001. PAN : AAACS 7690 F (+,/ APPELLANT) (-.+,/ RESPONDENT) +, / 0 / APPELLANT BY : SHRI SUPRIYO PAL, JCIT -.+, / 0 / RESPONDENT BY : SH. R. VIJAYARAGHAVAN, ADVOCAT E 1 / 2% / DATE OF HEARING : 11.08.2016 3') / 2% / DATE OF PRONOUNCEMENT : 23.09.2016 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: BOTH THE APPEALS OF REVENUE ARE DIRECTED AGAINST THE RESPECTIVE ORDERS OF THE COMMISSIONER OF INCOME TAX (APPEALS)-15, CHENNAI, DATED 11.03.2016 AND PERTAIN TO ASSESSMENT YEARS 2010- 11 AND 2011-12. SINCE COMMON ISSUE ARISES FOR CONS IDERATION, WE HEARD BOTH THE APPEALS TOGETHER AND DISPOSING OF TH E SAME BY THIS COMMON ORDER. 2 I.T.A. NOS.1522 & 1523/MDS/16 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS DEDUC TION UNDER SECTION 80-IA OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT'). 3. SHRI SUPRIYO PAL, THE LD. DEPARTMENTAL REPRESENT ATIVE, SUBMITTED THAT THE ASSESSEE CLAIMED DEDUCTION UNDER SECTION 80-IA OF THE ACT IN RESPECT OF CONTAINER FREIGHT STATION. THE ASSESSING OFFICER DISALLOWED THE CLAIM OF THE ASSESSEE ON THE GROUND THAT THERE WAS NO AGREEMENT BETWEEN THE ASSESSEE AND THE GOVERNMENT OF INDIA OR ITS AGENCY. HOWEVER, THE CI T(APPEALS) FOUND THAT THE CONTAINER FREIGHT STATION ESTABLISHE D BY THE ASSESSEE, BEING EXTENDED ARM OF PORT, IS ELIGIBLE F OR EXEMPTION UNDER SECTION 80-IA OF THE ACT. ACCORDING TO THE L D. D.R.,THE CIT(APPEALS) HAS NOT CONSIDERED THAT AGREEMENT BETW EEN THE ASSESSEE AND CENTRAL GOVERNMENT OR STATE GOVERNMENT IS ONE OF THE PRE-CONDITIONS FOR GRANT OF DEDUCTION UNDER SEC TION 80-IA OF THE ACT. REFERRING TO SUB-SECTION (4) OF SECTION 80-IA OF THE ACT, THE LD. D.R. SUBMITTED THAT THE ASSESSEE HAS TO ENTER INTO AN AGREEMENT WITH CENTRAL GOVERNMENT OR STATE GOVERNMENT OR LOCA L AUTHORITY OR A STATUTORY BOARD FOR DEVELOPING OR OPERATING AND M AINTAINING OR DEVELOPING, OPERATING AND MAINTAINING A NEW INFRAST RUCTURE FACILITY. IN THIS CASE, ACCORDING TO THE LD. D.R., THERE IS N O AGREEMENT 3 I.T.A. NOS.1522 & 1523/MDS/16 BETWEEN THE ASSESSEE AND THE CENTRAL GOVERNMENT OR STATE GOVERNMENT. REFERRING TO CBDT CIRCULAR NO.793 DATE D 23.06.2000, THE LD. D.R. SUBMITTED THAT THE CONTAINER FREIGHT S TATION MAY BE AN EXTENDED ARM OF THE PORT, HOWEVER, FOR THE PURPOSE OF CLAIMING DEDUCTION, THE ASSESSEE HAS TO NECESSARILY ENTER IN TO AN AGREEMENT WITH CENTRAL GOVERNMENT OR STATE GOVERNMENT. THERE FORE, ACCORDING TO THE LD. D.R., THE CIT(APPEALS) IS NOT JUSTIFIED IN ALLOWING THE CLAIM OF THE ASSESSEE. 4. ON THE CONTRARY, SH. R. VIJAYARAGHAVAN, THE LD.C OUNSEL FOR THE ASSESSEE, SUBMITTED THAT THE SECOND UNIT OF CON TAINER FREIGHT STATION WAS OWNED BY THE ASSESSEE AND IT WAS ALSO D ECLARED AS CUSTOMS AREA BY THE COMMISSIONER OF CUSTOMS FOR T HE PURPOSE OF HANDLING IMPORT FCL CONTAINERS. THE ONLY OBJECTION OF THE LD. D.R. IS THAT THERE WAS NO AGREEMENT BETWEEN GOVERNMENT O F INDIA AND THE ASSESSEE. REFERRING TO THE CIRCULAR NO.10 OF 2 005 DATED 16.12.2005, THE LD.COUNSEL SUBMITTED THAT FOR CLAIM ING DEDUCTION UNDER SECTION 80-IA OF THE ACT, ENTERING INTO AN AG REEMENT WITH GOVERNMENT IS ESSENTIAL PRE-CONDITION. THE AGREEME NT SHALL BE FOR THE PURPOSE OF TRANSFERRING THE INFRASTRUCTURE FACI LITY TO THE AUTHORITY CONCERNED ON THE EXPIRY OF THE TIME STIPULATED. HO WEVER, FROM THE 4 I.T.A. NOS.1522 & 1523/MDS/16 ASSESSMENT YEAR 2002-03, THE CONTAINER FREIGHT STAT ION IS ALSO CONSIDERED AS EXTENDED ARM OF THE PORT. ACCORDING TO THE LD. COUNSEL, FOR THE PURPOSE OF CLAIMING DEDUCTION UNDE R SECTION 80-IA OF THE ACT, WHAT IS REQUIRED IS CERTIFICATE FROM TH E CONCERNED PORT AUTHORITY TO THE EFFECT THAT THE CONTAINER FREIGHT STATION IS A PART OF THE PORT. IN THIS CASE, ACCORDING TO THE LD. COUNS EL, THE CHENNAI PORT TRUST AUTHORITIES CERTIFIED THAT THE CONTAINER FREIGHT STATION ESTABLISHED BY THE ASSESSEE IS AN EXTENDED ARM OF T HE PORT. THE CBDT DOES NOT SAY THAT THERE IS A NEED FOR AGREEMEN T BETWEEN THE ASSESSEE AND THE GOVERNMENT FOR THE PURPOSE OF CLAI MING DEDUCTION UNDER SECTION 80-IA OF THE ACT. IN VIEW OF THIS CIRCULAR, ACCORDING TO THE LD. COUNSEL, THE CIT(APPEALS) HAS RIGHTLY ALLOWED THE CLAIM OF THE ASSESSEE. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. WE HAVE CAREFULLY GONE THROUGH THE PROVISIONS OF SECTION 80 -IA(4) OF THE ACT WHICH READS AS UNDER:- (4) THIS SECTION APPLIES TO (I) ANY ENTERPRISE CARRYING ON THE BUSINESS OF (I) DEVELOPING OR (II) OPERATING AND MAINTAINING OR (III) DEVELOPING, OPERATING AND 5 I.T.A. NOS.1522 & 1523/MDS/16 MAINTAINING ANY INFRASTRUCTURE FACILITY WHICH FULFI LS ALL THE FOLLOWING CONDITIONS, NAMELY : (A) IT IS OWNED BY A COMPANY REGISTERED IN INDIA OR BY A CONSORTIUM OF SUCH COMPANIES OR BY AN AUTHORITY OR A BOARD OR A CORPORATION OR ANY OTHER BODY ESTABLISHED OR CONS TITUTED UNDER ANY CENTRAL OR STATE ACT (B) IT HAS ENTERED INTO AN AGREEMENT WITH THE CENTR AL GOVERNMENT OR A STATE GOVERNMENT OR A LOCAL AUTHORI TY OR ANY OTHER STATUTORY BODY FOR (I) DEVELOPING OR (II) OPE RATING AND MAINTAINING OR (III) DEVELOPING, OPERATING AND MAIN TAINING A NEW INFRASTRUCTURE FACILITY ; (C) IT HAS STARTED OR STARTS OPERATING AND MAINTAIN ING THE INFRASTRUCTURE FACILITY ON OR AFTER THE 1ST DAY OF APRIL, 1995 : PROVIDED THAT WHERE AN INFRASTRUCTURE FACILITY IS T RANSFERRED ON OR AFTER THE 1ST DAY OF APRIL, 1999 BY AN ENTERPRIS E WHICH DEVELOPED SUCH INFRASTRUCTURE FACILITY (HEREAFTER R EFERRED TO IN THIS SECTION AS THE TRANSFEROR ENTERPRISE) TO AN OTHER ENTERPRISE (HEREAFTER IN THIS SECTION REFERRED TO A S THE TRANSFEREE ENTERPRISE) FOR THE PURPOSE OF OPERATING AND MAINTAINING THE INFRASTRUCTURE FACILITY ON ITS BEHA LF IN ACCORDANCE WITH THE AGREEMENT WITH THE CENTRAL GOVE RNMENT, STATE GOVERNMENT, LOCAL AUTHORITY OR STATUTORY BODY , THE PROVISIONS OF THIS SECTION SHALL APPLY TO THE TRANS FEREE ENTERPRISE AS IF IT WERE THE ENTERPRISE TO WHICH TH IS CLAUSE APPLIES AND THE DEDUCTION FROM PROFITS AND GAINS WO ULD BE AVAILABLE TO SUCH TRANSFEREE ENTERPRISE FOR THE UNE XPIRED PERIOD DURING WHICH THE TRANSFEROR ENTERPRISE WOULD HAVE BEEN ENTITLED TO THE DEDUCTION, IF THE TRANSFER HAD NOT TAKEN PLACE. EXPLANATION FOR THE PURPOSES OF THIS CLAUSE, INFRASTRUCTURE FACILITY MEANS (A) A ROAD INCLUDING TOLL ROAD, A BRIDGE OR A RAIL SYSTEM ; (B) A HIGHWAY PROJECT INCLUDING HOUSING OR OTHER AC TIVITIES BEING AN INTEGRAL PART OF THE HIGHWAY PROJECT ; (C) A WATER SUPPLY PROJECT, WATER TREATMENT SYSTEM, IRRIGATION PROJECT, SANITATION AND SEWERAGE SYSTEM OR SOLID WA STE MANAGEMENT SYSTEM ; 6 I.T.A. NOS.1522 & 1523/MDS/16 A PORT, AIRPORT, INLAND WATERWAY, INLAND PORT OR NA VIGATIONAL CHANNEL IN THE SEA; (II) ANY UNDERTAKING WHICH HAS STARTED OR STARTS PR OVIDING TELECOMMUNICATION SERVICES WHETHER BASIC OR CELLULA R, INCLUDING RADIO PAGING, DOMESTIC SATELLITE SERVICE, NETWORK O F TRUNKING, BROADBAND NETWORK AND INTERNET SERVICES ON OR AFTER THE 1ST DAY OF APRIL, 1995, BUT ON OR BEFORE THE 31ST DAY OF MA RCH, 2005 : EXPLANATION FOR THE PURPOSES OF THIS CLAUSE, DOMESTIC SATELLITE MEANS A SATELLITE OWNED AND OPERATED BY AN INDIAN COMPANY FOR PROVIDING TELECOMMUNICATION SERVICE ; (III) ANY UNDERTAKING WHICH DEVELOPS, DEVELOPS AND OPERATES OR MAINTAINS AND OPERATES AN INDUSTRIAL PARK OR SPECIA L ECONOMIC ZONE NOTIFIED BY THE CENTRAL GOVERNMENT IN ACCORDAN CE WITH THE SCHEME FRAMED AND NOTIFIED BY THAT GOVERNMENT F OR THE PERIOD BEGINNING ON THE 1ST DAY OF APRIL, 1997 AND END ING ON THE 31ST DAY OF MARCH, 2006 : PROVIDED THAT IN A CASE WHERE AN UNDERTAKING DEVELO PS AN INDUSTRIAL PARK ON OR AFTER THE 1ST DAY OF APRIL, 1 999 OR A SPECIAL ECONOMIC ZONE ON OR AFTER THE 1ST DAY OF AP RIL, 2001 AND TRANSFERS THE OPERATION AND MAINTENANCE OF SUCH INDUSTRIAL PARK OR SUCH SPECIAL ECONOMIC ZONE, AS THE CASE MAY BE, TO ANOTHER UNDERTAKING (HEREAFTER IN THIS SECTION REFE RRED TO AS THE TRANSFEREE UNDERTAKING), THE DEDUCTION UNDER SU B-SECTION (1) SHALL BE ALLOWED TO SUCH TRANSFEREE UNDERTAKING FOR THE REMAINING PERIOD IN THE TEN CONSECUTIVE ASSESSMENT YEARS AS IF THE OPERATION AND MAINTENANCE WERE NOT SO TRANSFERR ED TO THE TRANSFEREE UNDERTAKING : PROVIDED FURTHER THAT IN THE CASE OF ANY UNDERTAKIN G WHICH DEVELOPS, DEVELOPS AND OPERATES OR MAINTAINS AND OP ERATES AN INDUSTRIAL PARK, THE PROVISIONS OF THIS CLAUSE SHAL L HAVE EFFECT AS IF FOR THE FIGURES, LETTERS AND WORDS 31ST DAY O F MARCH, 2006, THE FIGURES, LETTERS AND WORDS THE 31ST DAY OF MA RCH, 2011 HAD BEEN SUBSTITUTED ; (IV) AN UNDERTAKING WHICH, 7 I.T.A. NOS.1522 & 1523/MDS/16 (A) IS SET UP IN ANY PART OF INDIA FOR THE GENERATI ON OR GENERATION AND DISTRIBUTION OF POWER IF IT BEGINS T O GENERATE POWER AT ANY TIME DURING THE PERIOD BEGINNING ON TH E 1ST DAY OF APRIL, 1993 AND ENDING ON THE 31ST DAY OF MARCH, 2017; (B) STARTS TRANSMISSION OR DISTRIBUTION BY LAYING A NETWORK OF NEW TRANSMISSION OR DISTRIBUTION LINES AT ANY TIME DURING THE PERIOD BEGINNING ON THE 1ST DAY OF APRIL, 1999 AND END ING ON THE 31ST DAY OF MARCH, 2017 : PROVIDED THAT THE DEDUCTION UNDER THIS SECTION TO A N 1UNDERTAKING UNDER SUB-CLAUSE (B) SHALL BE ALLOWED ONLY IN RELATION TO THE PROFITS DERIVED FROM LAYING OF SUCH NETWORK OF NEW LINES FOR TRANSMISSION OR DISTRIBUTION ; (C) UNDERTAKES SUBSTANTIAL RENOVATION AND MODERNISA TION OF THE EXISTING NETWORK OF TRANSMISSION OR DISTRIBUTION LIN ES AT ANY TIME DURING THE PERIOD BEGINNING ON THE 1ST DAY OF APRIL, 2004 AND ENDING ON THE 31ST DAY OF MARCH, 2017. EXPLANATION FOR THE PURPOSES OF THIS SUB-CLAUSE, SUBSTANTIAL RENOVATION AND MODERNISATION MEANS AN INCREASE IN THE PLANT AND MACHINERY IN THE NETWORK OF TRANSMISSION OR DIS TRIBUTION LINES BY AT LEAST FIFTY PER CENT. OF THE BOOK VALUE OF SUCH PLANT AND MACHINERY AS ON THE 1ST DAY OF APRIL, 2004. (V) AN UNDERTAKING OWNED BY AN INDIAN COMPANY AND S ET UP FOR RECONSTRUCTION OR REVIVAL OF A POWER GENERATING PLA NT, IF (A) SUCH INDIAN COMPANY IS FORMED BEFORE THE 30TH DAY OF NOVEMBER, 2005, WITH MAJORITY EQUITY PARTICIPATION BY P UBLIC SECTOR COMPANIES FOR THE PURPOSES OF ENFORCING THE SECURITY INTEREST OF THE LENDERS TO THE COMPANY OWNING THE P OWER GENERATING PLANT AND SUCH INDIAN COMPANY IS NOTIFIE D BEFORE THE 31ST DAY OF DECEMBER, 2005, BY THE CENTRAL GOVERNMEN T FOR THE PURPOSES OF THIS CLAUSE ; (B) SUCH UNDERTAKING BEGINS TO GENERATE OR TRANSMIT OR DISTRIBUTE POWER BEFORE THE 31ST DAY OF MARCH, 2011. 8 I.T.A. NOS.1522 & 1523/MDS/16 SUB-CLAUSE (B) OF SECTION 80-IA(4)(I) OF THE ACT CL EARLY SAYS THAT THIS SECTION IS APPLICABLE ONLY IN RESPECT OF ENTERPRISE WHICH ENTERED INTO AN AGREEMENT WITH CENTRAL GOVERNMENT OR STATE GOVER NMENT FOR THE PURPOSE OF DEVELOPING, MAINTAINING, OPERATING, ETC. IN THE CASE BEFORE US, THE ASSESSEE CLAIMS THAT FROM THE ASSESS MENT YEAR 2002-03, THERE IS NO NEED FOR ANY AGREEMENT WITH GO VERNMENT OF INDIA OR STATE GOVERNMENT. SECTION 80-IA(4) DOES N OT SAY THAT THERE IS NO NEED FOR ANY AGREEMENT. PRE-CONDITION FOR CLAIMING DEDUCTION UNDER SECTION 80-IA OF THE ACT IS THAT TH ERE SHOULD BE AN AGREEMENT BETWEEN THE ASSESSEE AND THE CENTRAL GOVE RNMENT OR STATE GOVERNMENT FOR DEVELOPING OR OPERATING OR MAI NTAINING OR DEVELOPING, OPERATING, MAINTAINING A NEW INFRASTRUC TURE FACILITY. THEREFORE, THE PROVISIONS OF INCOME-TAX ACT VERY CL EARLY SAYS THAT THERE IS NEED FOR AGREEMENT BETWEEN THE ASSESSEE AN D THE GOVERNMENT FOR ESTABLISHING A NEW INFRASTRUCTURE FA CILITY. 6. WE HAVE CAREFULLY GONE THROUGH THE CIRCULAR ISSU ED BY THE CBDT IN CIRCULAR NO.10 OF 2005 WHICH READS AS FOLLO WS:- CIRCULAR NO.010 OF 2005 DT. 16 TH DECEMBER, 2005 SUB DEFINITION OF PORT AS INFRASTRUCTURAL FACILIT Y FOR THE PURPOSE OF SECTIONS 10(23G) AND 80-IA OF THE INCOME-TAX ACT, 1961 9 I.T.A. NOS.1522 & 1523/MDS/16 16/12/2005 EXEMPTIONS / DEDUCTIONS SECTION 10(23G), 80-IA REFERENCE IS INVITED TO BOARDS CIRCULAR NO.793 DATED 23 RD JUNE, 2000 [(2000) 161 CTR (ST) 21] AND AMENDMENT IN SECTION 80-IA BY THE FINANCE ACT, 2001. 2. PORT, FOR THE PURPOSES OF SECTIONS 10(23G) AND 80-I A OF THE INCOME-TAX ACT, 1961, INCLUDES STRUCTURES AT THE PORTS FOR STORAGE, LOADING AND UNLOADING ETC, IF THE FOLLOWING CONDITIONS ARE FULFILLED: (A) THE CONCERNED PORT AUTHORITY HAS ISSUED A CERTIFICA TE THAT THE SAID STRUCTURES FORM PART OF THE PORT, AND (B) SUCH STRUCTURES HAVE BEEN BUILT UNDER THE BOT OR BOLT SCHEMES AND THERE IS AN AGREEMENT THAT THE SAME WOULD BE TR ANSFERRED TO THE SAID AUTHORITY ON THE EXPIRY OF THE TIME STIPULA TED IN THE AGREEMENT. THIS DEFINITION IS APPLICABLE TO ASSESSMENT YEAR 2001- 02 AND ANY EARLIER ASSESSMENT YEAR. 3. HOWEVER, FOR AND FROM ASSESSMENT YEAR 2002-03 ONWARDS, STRUCTURES AT THE PORTS FOR STORAGE, LOADING AND UN LOADING ETC WILL BE INCLUDED IN THE DEFINITION OF PORT FOR THE PURPOS E OF SECTIONS 10(23G) AND 80-IA OF THE INCOME-TAX ACT, 1961, IF THE FOLLOWING CON DITION IS FULFILLED : -THE CONCERNED PORT AUTHORITY HAS ISSUED A CERTIFIC ATE THAT THE SAID STRUCTURES FORM PART OF THE PORT. 4. THIS MAY BE BROUGHT TO THE NOTICE OF ALL THE OFFI CERS IN YOUR REGION. [F.NO.205/51/2005-I.T.A. NO. II] FROM THE ABOVE CIRCULAR, IT IS OBVIOUS THAT FOR THE ASSESSMENT YEAR 2001-02 AND FOR EARLIER ASSESSMENT YEAR, A CERTIFIC ATE IS REQUIRED 10 I.T.A. NOS.1522 & 1523/MDS/16 FROM CONCERNED PORT AUTHORITY INDICATING THE CONTAI NER FREIGHT STATION FORMS PART OF PORT AND THERE SHALL BE AN AG REEMENT AS INFRASTRUCTURE FACILITY WOULD BE TRANSFERRED TO THE CONCERNED AUTHORITY ON EXPIRY OF TIME STIPULATED IN THE AGREEMENT. FRO M THE ASSESSMENT YEAR 2002-03, THE CBDT HAS INSTRUCTED THAT WHAT IS REQUIRED FOR CLAIMING 80-IA DEDUCTION IS CERTIFICATE FROM CONCER NED PORT AUTHORITY. 7. WE FIND THAT THIS ISSUE WAS CONSIDERED BY THE MA DRAS HIGH COURT IN CIT V. A.L. LOGISTICS PVT. LTD. (2015) 374 ITR 609. THE MADRAS HIGH COURT, AFTER CONSIDERING THE PUBLIC NOT IFICATION ISSUED BY THE COMMISSIONER OF CUSTOMS AND APPROVAL GRANTED BY THE STATE GOVERNMENT, FOUND THAT THE ASSESSEE IS ELIGIBLE FOR DEDUCTION UNDER SECTION 80-IA OF THE ACT. IN THE GROUNDS OF APPEAL , THE REVENUE CLAIMS THAT A SPECIAL LEAVE PETITION WAS FILED BEFO RE THE APEX COURT AGAINST THE JUDGMENT OF MADRAS HIGH COURT IN A.L. L OGISTICS PVT. LTD. (SUPRA). THIS TRIBUNAL IS OF THE CONSIDERED O PINION THAT ON IDENTICAL SITUATION IN A.L. LOGISTICS PVT. LTD. (SU PRA), THE MADRAS HIGH COURT HAS ALLOWED THE CLAIM OF THE ASSESSEE, T HEREFORE, THE CIT(APPEALS) HAS RIGHTLY PLACED HIS RELIANCE ON THE JUDGMENT OF MADRAS HIGH COURT AND FOUND THAT THE CONTAINER FREI GHT STATION ESTABLISHED BY THE ASSESSEE IS AN EXTENDED ARM OF T HE PORT, 11 I.T.A. NOS.1522 & 1523/MDS/16 THEREFORE, ELIGIBLE FOR EXEMPTION UNDER SECTION 80- IA OF THE ACT. THIS TRIBUNAL DO NOT FIND ANY REASON TO INTERFERE W ITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SAME IS CONFIRM ED. 8. IN THE RESULT, BOTH THE APPEALS FILED BY THE REV ENUE ARE DISMISSED. ORDER PRONOUNCED ON 23 RD SEPTEMBER, 2016 AT CHENNAI. SD/- SD/- (. !'# ! ) ( . . . ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) % / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 5 /DATED, THE 23 RD SEPTEMBER, 2016. KRI. / -267 87)2 /COPY TO: 1. +, /APPELLANT 2. -.+, /RESPONDENT 3. 1 92 () /CIT(A)-15, CHENNAI-34 4. 1 92 /CIT-6, CHENNAI-34 5. 7: -2 /DR 6. ;( < /GF.