DCIT, Tiruppur V. P.K.Ganeshwar, Tiruppur

ITA 1717/CHNY/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 8070 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Assessment Year: 2009-2010
• Appeal Filed On: 24-07-2015
• 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; 80IA

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH : CHENNAI . . . , . !' , # $ % [ BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ] ./ I.T.A.NO.1717/MDS/2015 / ASSESSMENT YEAR : 2009-10 THE DY. COMMISSIONER OF INCOME-TAX CIRCLE 2 TIRUPUR VS. SHRI P.K GANESHWAR NO.21, POLLACHI ROAD, PALLADAM TIRUPUR [PAN ADFPG 6476 N ] ( &' / APPELLANT) ( ()&' /RESPONDENT) / APPELLANT BY : SHRI GURU BASHYAM, JCIT /RESPONDENT BY : SHRI R. KUMAR, ADVOCATE / DATE OF HEARING : 20 - 01 - 2 016 ! / DATE OF PRONOUNCEMENT : 29 - 01 - 2016 / O R D E R PER N.R.S.GANESAN, JUDICIAL MEMBER THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-3, COIMBA TORE, DATED 29.5.2015 AND PERTAINS TO ASSESSMENT YEAR 2009-10 . 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS DISALLOW ANCE OF ` 2,10,57,420/- U/S 80IA OF THE ACT. 3. SHRI GURU BASHYAM, LD. DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT THE ASSESSEE CLAIMED DEDUCTION U/S 80IA OF THE ACT. ITA NO. 1717/15 :- 2 -: THE ASSESSING OFFICER DISALLOWED THE CLAIM OF THE ASSESSEE SINCE THE REVENUE HAS FILED A SLP BEFORE THE APEX COURT AGAIN ST THE JUDGMENT OF THE MADRAS HIGH COURT IN THE CASE OF VELAYUDHAS WAMY SPINNING MILLS P. LTD. VS ACIT, 340 ITR 477. THEREFORE, TO KEEP THE ISSUE ALIVE, ACCORDING TO THE LD. DR, THE ASSESSING OFFICER DISA LLOWED THE CLAIM OF THE ASSESSEE. 4. WE HEARD SHRI R. KUMAR, LD. COUNSEL FOR THE ASSESSE E ALSO. 5. THE CIT(A), BY FOLLOWING THE JUDGMENT OF THE MADRAS HIGH COURT IN THE CASE OF VELAYUDHASWAMY SPINNING MILLS P. LTD (SUPRA), ALLOWED THE CLAIM OF THE ASSESSEE U/S 80IA OF THE ACT. THE ONLY CONTENTION OF THE LD. DR IS THAT TO KEEP THE MATTER ALIVE, THE ASSESSING OFFICER DISALLOWED THE CLAIM OF THE ASSESSEE. TH IS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE JUDGMENT OF THE MADRAS HIGH COURT IS BINDING ON ALL AUTHORITIES INCLUDING THIS TRIBUNAL. THEREFORE, THE CIT(A) HAS RIGHTLY FOLLOWED THE JUDGMENT OF THE MADRAS HIG H COURT IN THE CASE OF VELAYUDHASWAMY SPINNING MILLS P. LTD (SUPRA) AND ALLOWED THE CLAIM OF THE ASSESSEE. THIS TRIBUNAL DO NOT FIND ANY RE ASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY. ACCORDINGLY, THE SAME IS CONFIRMED. ITA NO. 1717/15 :- 3 -: 6. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DI SMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH JANUARY, 2016, AT CHENNAI. SD/- SD/- ( . !' ) (A. MOHAN ALANKAMONY) # / ACCOUNTANT MEMBER ( . . . ' ) (N.R.S. GANESAN) / JUDICIAL MEMBER #$ / CHENNAI %& / DATED: 29 TH JANUARY, 2016 RD &' ()*) / COPY TO: 1 . / APPELLANT 4. + / CIT 2. / RESPONDENT 5. ),- . / DR 3. +/' / CIT(A) 6. -01 / GF