M/s.Escapade Resorts P.Ltd, Cochin V. The ACIT, Cochin

ITA 170/COCH/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 86404 (ITAT-COCHIN)
• Duration Of Justice: 8 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-01-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 24-12-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 21-04-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: M ANIL KUMAR CIT SHRI K K JOHN
• Assessee Lawyers: P K SASIDHARAN
• Keywords: Revision of order
• Section: 143(3); 80IB; 263

Judgement Text

1 ITA NO. 170/COCH/2014 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI CHANDRA PO OJARI (AM) I.T.A NO. 170/COCH/2014 (ASSESSMENT YEAR 2009-10) M/S ESCAPADE RESORTS (P) LTD VS THE ACIT, CIR.1(1 ) CASINO HOTEL KOCHI WILLINGDON ISLAND, KOCHI-3 PAN : AAACE5978L (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI P.K. SASIDHARAN RESPONDENT BY : SHRI M ANIL KUMAR, CIT / SHRI K.K. JOHN DATE OF HEARING : 24-12-2014 DATE OF PRONOUNCEMENT : 09-01-2015 O R D E R PER N.R.S. GANESAN (JM) THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF THE ADMINISTRATIVE COMMISSIONER DATED 31-03-2014 AND PE RTAINS TO ASSESSMENT YEAR 2009-10. 2. SHRI P.K. SASIDHARAN, THE LD.REPRESENTATIVE FOR THE ASSESSEE SUBMITTED THAT THE ASSESSING OFFICER BY AN ORDER U/ S 143(3) OF THE ACT ALLOWED THE CLAIM OF THE ASSESSEE U/S 80IB OF THE A CT. HOWEVER, THE 2 ITA NO. 170/COCH/2014 ADMINISTRATIVE COMMISSIONER FOUND THAT THE ASSESSEE IS NOT ELIGIBLE FOR DEDUCTION U/S 80IB FOR THE YEAR UNDER CONSIDERATION . REFERRING TO THE APPROVAL GRANTED BY THE DGIT (EXEMPTION), THE COPY OF WHICH IS AVAILABLE AT PAGE 6 OF THE PAPER BOOK, THE LD.REPRESENTATIVE SUBMITTED THAT THE APPROVAL WAS GRANTED WITH EFFECT FROM 12-04-1999 WH ICH IS RELEVANT FOR THE ASSESSMENT YEAR 2000-01. THE ASSESSEE IS ELIGIBLE FOR EXEMPTION FOR 10 ASSESSMENT YEARS. THEREFORE FOR THE YEAR UNDER CON SIDERATION, ACCORDING TO THE LD.REPRESENTATIVE, THE ASSESSEE IS ELIGIBLE FOR EXEMPTION. 3. REFERRING TO SECTION 80IA AS IT STOOD AT THE REL EVANT POINT OF TIME, THE LD.REPRESENTATIVE SUBMITTED THAT THE ASSESSEE WAS I NITIALLY ENTITLED FOR DEDUCTION U/S 80IA OF THE ACT. ACCORDING TO THE LD .REPRESENTATIVE, BY FINANCE ACT, 1999 WITH EFFECT FROM 01-04-2000, SECT ION 80IA, AS IT WAS THEN EXISTED WAS SUBSTITUTED BY SECTIONS 80IA AND 8 0IB. FOR THE PURPOSE OF THIS APPEAL, ACCORDING TO THE LD.REPRESENTATIVE, THE PROVISIONS OF SECTION 80IA AS IT STOOD AT THE RELEVANT POINT OF TIME IS R ELEVANT SINCE THE APPROVAL GRANTED BY THE DGIT (EXEMPTION) WAS ON THE BASIS OF THE PROVISIONS OF SECTION 80IA AS IT STOOD THEN. 4. REFERRING TO SECTION 80IA(4)(IIIA) OF THE ACT, A S IT STOOD AT THE RELEVANT POINT OF TIME, THE LD.REPRESENTATIVE SUBMITTED THAT THE ASSESSEES ELIGIBLE BUSINESS IS ENTITLED FOR EXEMPTION U/S 80IA OF THE ACT SINCE THE HOTEL IS 3 ITA NO. 170/COCH/2014 SITUATED IN THE HILLY AREA. REFERRING TO SUB CLAUS E (V) OF SECTION 80IA(4), THE LD.REPRESENTATIVE SUBMITTED THAT APPROVAL BY THE PR ESCRIBED AUTHORITY IS AN ESSENTIAL PRECONDITION FOR CLAIMING DEDUCTION U/S 8 0IA. THE PRESCRIBED AUTHORITY, ACCORDING TO THE LD.REPRESENTATIVE, IS T HE DGIT (EXEMPTION). ACCORDING TO THE LD.REPRESENTATIVE, SECTION 80IA(4) (IIIA) AND SECTION 80IA(4)(V) PROVIDES FOR TWIN CONDITION TO BE FULFIL LED FOR THE PURPOSE OF CLAIMING DEDUCTION U/S 80IA OF THE ACT. ACCORDING TO THE LD.REPRESENTATIVE, MERE STARTING A HOTEL IS NOT SUFFICIENT FOR CLAIMIN G DEDUCTION U/S 80IA. THE APPROVAL OF THE DGIT(EXEMPTION) IS AN ESSENTIAL PRE -CONDITION. THEREFORE, ACCORDING TO THE LD.REPRESENTATIVE, THE INITIAL YEA R FOR GRANT OF DEDUCTION U/S 80IA SHALL BE THE YEAR FOR WHICH THE APPROVAL WAS G RANTED BY THE DGIT (EXEMPTION). SINCE THE DGIT (EXEMPTION) SPECIFICAL LY SAYS THAT THE APPROVAL WAS WITH EFFECT FROM ASSESSMENT YEAR 2000- 01, ACCORDING TO THE LD.REPRESENTATIVE, THE ASSESSEE IS ELIGIBLE FOR EXE MPTION FOR THE YEAR UNDER CONSIDERATION. REFERRING TO SECTION 80IA(6)(II), T HE LD.REPRESENTATIVE SUBMITTED THAT THE ASSESSEE IS ELIGIBLE FOR EXEMPTI ON FOR 10 ASSESSMENT YEARS FOR CLAIMING DEDUCTION U/S 80IA OF THE ACT. REFERRING TO SUB CLAUSE (IV) OF SECTION 80IA(6), THE LD.REPRESENTATIVE SUBM ITTED THAT THE WORDS CONSECUTIVE ASSESSMENT YEARS HAVE BEEN OMITTED IN SUB CLAUSE (II) OF SECTION 80IA(6). THE ADMINISTRATIVE COMMISSIONER B Y REFERRING TO SECTION 80IB OF THE ACT WHICH WAS SUBSEQUENTLY INTRODUCED T O SUBSTITUTE THE THEN EXISTING SECTION 80IA OBSERVED THAT THE ASSESSEE IS ELIGIBLE FOR EXEMPTION 4 ITA NO. 170/COCH/2014 ONLY FOR THE CONSECUTIVE ASSESSMENT YEARS. ACCORDI NG TO THE LD.RPERESENTATIVE, THE WORDS CONSECUTIVE ASSESSMEN T YEARS HAVE BEEN SPECIFICALLY OMITTED IN SECTION 80IA(6)(II) OF THE ACT. REFERRING TO SECTION 80IA(12) OF THE ACT, MORE PARTICULARLY SUB CLAUSE ( I) OF CLAUSE (C), THE LD.REPRESENTATIVE SUBMITTED THAT THE INITIAL ASSESS MENT YEAR HAS BEEN DEFINED AS THE YEAR IN WHICH THE BUSINESS OF HOTEL STARTS FUNCTIONING. BUT MERE FUNCTIONING OF THE HOTEL IS NOT ELIGIBLE FOR E XEMPTION U/S DEDUCTION U/S 80IA. THE APPROVAL FROM THE DGIT (EXEMPTION) IS ON E OF THE PRECONDITIONS PROVIDED FOR CLAIMING EXEMPTION. THEREFORE, ACCORD ING TO THE LD.REPRESENTATIVE, THE INITIAL ASSESSMENT YEAR SHAL L BE THE YEAR IN WHICH THE APPROVAL WAS GRANTED BY THE DGIT (EXEMPTION) AND NO T THE ASSESSMENT YEAR IN WHICH THE ASSESSEE STARTED FUNCTIONING THE HOTEL. THEREFORE, ACCORDING TO THE LD.REPRESENTATIVE, THE ADMINISTRAT IVE COMMISSIONER IS NOT JUSTIFIED IN REVISING THE ORDER OF THE ASSESSING OF FICER BY EXERCISING HIS JURISDICTION U/S 263 OF THE ACT. 5. ON THE CONTRARY, SHRI M ANIL KUMAR, THE LD.DR SU BMITTED THAT INITIAL ASSESSMENT YEAR HAS BEEN DEFINED IN SECTION 80IA(12 )(C) OF THE ACT. AS PER THIS SECTION, THE INITIAL ASSESSMENT YEAR IS TH E YEAR IN WHICH THE BUSINESS OF HOTEL STARTS FUNCTIONING. REFERRING TO SECTION 80IA(6) OF THE ACT, THE LD.DR SUBMITTED THAT THE NUMBER OF ASSESSMENT Y EARS REFERRED TO IN SUB SECTION (1) SHALL BE THAT INCLUDING THE INITIAL ASSESSMENT YEAR. 5 ITA NO. 170/COCH/2014 THEREFORE, FOR THE PURPOSE OF CLAIMING DEDUCTION TH E INITIAL ASSESSMENT YEAR IS THE YEAR IN WHICH THE ASSESSEE STARTED FUNC TIONING ITS HOTEL AND NOT THE YEAR IN WHICH THE APPROVAL WAS GRANTED. ACCORD ING TO THE LD.RDR, THOUGH APPROVAL IS ONE OF THE PRE-CONDITIONS TO BE FULFILLED FOR GRANT OF DEDUCTION U/S 80IA OF THE ACT, THE INITIAL ASSESSME NT YEAR FOR CLAIMING THE DEDUCTION SHALL BE THE YEAR IN WHICH THE ASSESSEE S TARTED FUNCTIONING ITS HOTEL. ACCORDING TO THE LD.DR, SINCE THE LEGISLATUR E HAS DEFINED INITIAL ASSESSMENT YEAR AS THE YEAR IN WHICH THE BUSINESS O F HOTEL STARTED FUNCTIONING, THE DATE OF APPROVAL GRANTED BY DGIT ( EXEMPTION) CANNOT BE TAKEN AS THE INITIAL ASSESSMENT YEAR. THEREFORE, A CCORDING TO THE LD.DR, THE CIT HAS RIGHTLY REVISED THE ORDER OF THE ASSESS ING OFFICER. 6. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND ALSO PERUSED THE MATERIAL AVAILABLE ON RECORD. FROM THE MATERIAL AVAILABLE ON RECORD IT APPEARS THAT THE ASSESSEE STARTED ITS HOT EL BUSINESS FROM THE ASSESSMENT YEAR 1999-2000. THIS IS NOT IN DISPUTE. IF THE INITIAL ASSESSMENT YEAR FOR CLAIMING DEDUCTION U/S 80IA IS TAKEN AS 1999-2000, THEN THE TEN ASSESSMENT YEARS EXPIRED BY ASSESSMENT YEAR 2008-09. THEREFORE, THE ASSESSEE MAY NOT BE ELIGIBLE FOR EXE MPTION FOR THE YEAR UNDER CONSIDERATION. IF WE TAKE THE INITIAL ASSESS MENT YEAR AS 2000-01 FROM THE YEAR IN WHICH THE APPROVAL WAS GRANTED BY THE PRESCRIBED AUTHORITY, VIZ. DGIT (EXEMPTION), THEN THE ASSESSEE MAY BE ELIGIBLE FOR 6 ITA NO. 170/COCH/2014 DEDUCTION U/S 80IA OF THE ACT. THUS, THE ACTUAL D ISPUTE CONFINES ONLY TO THE ISSUE AS TO WHAT WAS THE INITIAL ASSESSMENT YEA R FOR WHICH THE ASSESSEE WAS ELIGIBLE FOR CLAIMING DEDUCTION U/S 80 IA OF THE ACT? IN OTHER WORDS, WHETHER THE INITIAL ASSESSMENT YEAR IS THE Y EAR IN WHICH THE ASSESSEE STARTED FUNCTIONING ITS BUSINESS OR THE YE AR IN WHICH THE PRESCRIBED AUTHORITY GRANTED APPROVAL U/S 80IA OF THE ACT FOR THE CLAIMING DEDUCTION U/S 80IA OF THE ACT? 7. WE HAVE CAREFULLY GONE THROUGH THE PROVISIONS OF SECTION 80IA AS IT STOOD AT THE RELEVANT POINT OF TIME, WHICH READS AS FOLLOWS: 80-IA (1) WHERE THE GROSS TOTAL INCOME OF AN ASSESSEE INC LUDES ANY PROFITS AND GAINS DERIVED FROM ANY BUSINESS OF AN I NDUSTRIAL UNDERTAKING OR A HOTEL OR OPERATION OF A SHIP OR DE VELOPING, MAINTAINING AND OPERATING ANY INFRASTRUCTURE FACILI TY OR SCIENTIFIC AND INDUSTRIAL RESEARCH AND DEVELOPMENT OR PROVIDING TE LECOMMUNICATION SERVICES WHETHER BASIC OR CELLULAR INCLUDING RADIO PAGING, DOMESTIC SATELLITE SERVICE OR NETWORK OF TRUNKING AND ELECTR ONIC DATA INTERCHANGE SERVICES OR CONSTRUCTION AND DEVELOPMENT OF HOUSING PROJECTS OR OPERATING AN INDUSTRIAL PARK OR COMMERCIAL PRODUCTI ON OR REFINING OF MINERAL OIL IN THE NORTH EASTERN REGION OR IN ANY P ART OF INDIA ON OR AFTER THE 1 ST DAY OF APRIL, 1997 (SUCH BUSINESS BEING HEREINAFTE R REFERRED TO AS THE ELIGIBLE BUSINESS), TO WHICH THI S SECTION APPLIES, THERE SHALL, IN ACCORDANCE WITH AND SUBJECT TO THE PROVISIONS OF THIS SECTION, BE ALLOWED, IN COMPUTING THE TOTAL INCOME OF THE ASSESSEE, A DEDUCTION FROM SUCH PROFITS AND GAINS OF AN AMOUNT EQUAL TO THE PERCENTAGE SPECIFIED IN SUB-SECTION (5) AND FOR SUC H NUMBER OF ASSESSMENT YEARS AS IS SPECIFIED IN SUB-SECTION (6) . (2) XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (3) (I) TO (III) XXXXXXXXXXXXXXXXXXXXXXXXXXX (IIIA) THE BUSINESS OF THE HOTEL, LOCATED IN A HILL Y ARE OR A RURAL AREA OR A PLACE OF PILGRIMAGE OR SUCH OTHER PLACE S THE CEN TRAL GOVERNMENT MAY, HAVING REGARD TO THE NEED FOR DEVELOPMENT OF I NFRASTRUCTURE FOR TOURISM IN ANY PLACE AND OTHER RELEVANT CONSIDERATI ONS, SPECIFY FOR THE 7 ITA NO. 170/COCH/2014 PURPOSE OF THIS CLAUSE, STARTS FUNCTIONING AT ANY T IME DURING THE PERIOD BEGINNING ON THE 1 ST DAY OF APRIL, 1997 AND ENDING ON THE 31 ST DAY OF MARCH, 2001; PROVIDED THAT NOTHING CONTAINED IN THIS CLAUSE SHALL APPLY TO ANY HOTEL LOCATED AT A PLACE WITHIN THE MUNICIPAL JURISDICTIO N (WHETHER KNOWN S A MUNICIPALITY, MUNICIPAL CORPORATION, NOTIFIED AREA COMMITTEE, TOWN AREA COMMITTEE OR A CANTONMENT BOARD OR BY ANY OTHE R NAME) OF CALCUTTA, CHENNAI, DELHI AND MUMBAI; (IV) TO (IVA) XXXXXXXXXXXXXXXXXXXXXXXXXX (V) THE HOTEL IS FOR THE TIME BEING APPROVED BY THE PRESCRIBED AUTHORITY. (4A) TO 5(I)(ID)XXXXXXXXXXXXXXXXXXXXXXXX (IIA) IN THE CASE OF HOTEL REFERRED SUB CLAUSE (III A) OF SECTION 4, FIFTY PER CENT OF THE PROFITS AND GAINS DERIVED FROM THE BUSINESS OF SUCH HOTEL: PROVIDED THAT THE SAID HOTEL IS APPROVED BY THE PRESCRIBED AUTHORITY FOR THE PURPOSES OF THIS CLAUSE IN ACCORDANCE WITH THE RULES MADE UNDER THIS ACT; (III) TO (VI) XXXXXXXXXXXXXXXXXXXXXXXXXXXXX (6) THE NUMBER OF ASSESSMENT YEARS REFERRED TO IN S UB-SECTION (1) SHALL, INCLUDING THE INITIAL ASSESSMENT YEAR, BE- (I) XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (II) TEN IN THE CASE OF AN ASSESSEE, NOT BEING A CO -OPERATIVE SOCIETY, DERIVING PROFITS AND GAINS FROM AN INDUSTR IAL UNDERTAKING SPECIFIED IN SUB-CLAUSE (A) OR SUB-CLAUSE (B) OR SU B-CLAUSE (D) OF CLAUSE (IV) OF SUB-SECTION (2) OR LOCATED IN AN IND USTRIALLY BACKWARD DISTRICT OF CATEGORY A SPECIFIED IN SUB-CLAUSE (C) OF CLAUSE (IV) OF THAT SUB-SECTION; (IIA) TO (12)(B) XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXX (C) INITIAL ASSESSMENT YEAR- (1) IN THE CASE OF AN INDUSTRIAL UNDERTAKING OR CO LD STORAQE PLANT OR SHIP OR HOTEL, MEANS THE ASSESSMENT YEAR RELEVANT TO THE PREVIOUS YEAR IN WHICH THE INDUST RIAL UNDERTAKING BEGINS TO MANUFACTURE OR PRODUCE ARTI CLES OR THINGS, OR TO OPERATE ITS COLD STORAGE PLANT O R PLANTS OR THE SHIP IS FIRST BRUTHT5 INTO USE OR THE BUSI NESS OF THE HOTEL STARTS FUNCTIONING; 8 ITA NO. 170/COCH/2014 (2) TO (6) XXXXXXXXXXXXXXX (CA) TO (G) XXXXXXXXXXXXXXXXXXXXXXXXXXX 8. FROM THE ABOVE PROVISION IT IS OBVIOUS THAT THE ASSESSEE IS ELIGIBLE FOR DEDUCTION U/S 80IA (NOW SECTION 80IB) FOR TEN A SSESSMENT YEARS FROM THE INITIAL ASSESSMENT YEAR. INITIAL ASSESSMENT YE AR HAS BEEN DEFINED IN SECTION 80IA(12)(C)(I) OF THE ACT. FROM THIS IT IS OBVIOUS THAT THE INITIAL ASSESSMENT YEAR IS THE YEAR IN WHICH THE BUSINESS O F HOTEL STARTED FUNCTIONING. IT DOES NOT SAY THAT THE YEAR IN WHIC H THE APPROVAL WAS GRANTED BY THE PRESCRIBED AUTHORITY. OF COURSE, TH E APPROVAL OF THE PRESCRIBED AUTHORITY IS ALSO ONE OF THE PRE-CONDITI ONS FOR CLAIMING DEDUCTION U/S 80IA OF THE ACT IN VIEW OF SECTION 80IA(4)(V) O F THE ACT. SECTION 80IA(6) CLEARLY SYS THAT THE NUMBER OF ASSESSMENT YEARS REF ERRED TO IN SUB SECTION (1) SHALL BE INCLUDING THE INITIAL ASSESSMENT YEAR. THEREFORE, FOR THE PURPOSE OF TAKING THE INITIAL ASSESSMENT YEAR, THE APPROVAL OF THE PRESCRIBED AUTHORITY MAY NOT BE RELEVANT. THE ASSE SSEE MAY NOT BE ELIGIBLE FOR DEDUCTION U/S 80IA IF THE APPROVAL OF THE PRESCRIBED AUTHORITY WAS NOT OBTAINED FOR THE INITIAL ASSESSMENT YEAR. BUT THAT DOES NOT MEAN THAT THE INITIAL ASSESSMENT YEAR HAS TO BE EXCLUDED FROM THE PROVISIONS OF THE ACT. TAXATION STATUTE HAS TO BE INTERPRETED ON THE BASIS OF PLAIN LANGUAGE EMPLOYED BY THE LEGISLATURE. THE AUTHORIT IES / COURTS HAVE NO POWER TO INSERT OR DELETE ANY WORD IN THE STATUTE A S ENACTED BY THE 9 ITA NO. 170/COCH/2014 PARLIAMENT. OF COURSE, A HARMONIOUS READING HAS TO BE MADE TO GIVE EFFECT TO ALL THE PROVISIONS OF THE ACT WITHOUT OMI TTING ANY CLAUSES OF THE SUB CLAUSES IN THE ACT. A HARMONIOUS READING OF TH E ACT CLEARLY SAYS THAT THOUGH THE APPROVAL OF THE PRESCRIBED AUTHORITY, VI Z. THE DGIT(EXEMPTION) IS A PRE-CONDITION, THE INITIAL ASSESSMENT YEAR SHA LL BE THE YEAR IN WHICH THE ASSESSEE HOTEL STARTED FUNCTIONING FOR THE PURPOSE OF COMPUTING TEN ASSESSMENT YEARS FOR GRANT OF DEDUCTION U/S 80IA OF THE ACT. IF THE ASSESSEE COULD NOT OBTAIN THE APPROVAL OF THE PRESC RIBED AUTHORITY, VIZ. DGIT (EXEMPTION) FOR ANY OF THE YEARS AFTER STARTED FUNCTIONING OF THE HOTEL, THEN THE ASSESSEE MAY NOT BE ELIGIBLE FOR DEDUCTION U/S 80IA FOR THOSE ASSESSMENT YEARS. THE ASSESSEE CAN CLAIM DEDUCTION ONLY IN RESPECT OF THE REMAINING ASSESSMENT YEAR FROM THE YEAR IN WHIC H THE APPROVAL WAS GRANTED BY THE PRESCRIBED AUTHORITY. A HARMONIOUS READING OF SECTION 80IA AS IT STOOD AT THE RELEVANT POINT OF TIME AND THE P ROVISIONS OF SECTION 80IB, AS IT STANDS NOW, THIS TRIBUNAL IS OF THE CONSIDERE D OPINION THAT THE INITIAL ASSESSMENT YEAR IS THE YEAR IN WHICH THE ASSESSEE S TARTED FUNCTIONING OF THE HOTEL AND NOT THE YEAR IN WHICH THE APPROVAL WA S GRANTED BY THE PRESCRIBED AUTHORITY. 9. IN VIEW OF THE ABOVE, THIS TRIBUNAL IS OF THE CO NSIDERED OPINION THAT THE ADMINISTRATIVE COMMISSIONER HAS RIGHTLY EXERCIS ED HIS REVISIONAL JURISDICTION SINCE GRANT OF DEDUCTION U/S 80IB WAS NOT ONLY ERRONEOUS BUT 10 ITA NO. 170/COCH/2014 ALSO PREJUDICIAL TO THE INTEREST OF REVENUE. HENCE , THE ORDER OF THE ADMINISTRATIVE COMMISSIONER IS CONFIRMED. 10. IN THE RESULT, THE APPEAL OF THE ASSESSEE STAND S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 09 TH JANUARY, 2015. SD/- SD/- (CHANDRA POOJARI) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 09 TH JANUARY, 2015 PK/- COPY TO: 1. M/S ESCAPADE RESORTS (P) LTD, CASINO HOTEL, WILL INGDON ISLAND, KOCHI-3 2. THE ACIT, CIR.1(1), KOCHI 3. THE COMMISSIONER OF INCOME-TAX-I, KOCHI (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH