DCIT, Coimbatore V. M/s. Super Spinning Mills Ltd., Coimbatore

ITA 173/CHNY/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 73595 (ITAT-CHENNAI)
• Duration Of Justice: 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-01-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 08-01-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 01-02-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T N BETGERI IRS
• Assessee Lawyers: K RAVI
• Keywords: Depreciation
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENTAND SHRI VIKAS AWASTHY, JUDICIAL MEMBER ITA NO. 173(MDS)/2013 ASSESSMENT YEAR : 2007-08 THE DEPUTY COMMISSIONER OF INCOME TAX, COMPANY CIRCLE I(2), 63, RACE COURSE ROAD, COIMBATORE. V. M/S SUPER SPINNING MILLS LTD., 737, GREENFIELDS, PULIAKULAM ROAD, COIMBATORE 641 045. PAN : AADCS 0672 G (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI T.N. BE TGERI, IRS, JCIT RESPONDENT BY : SHRI K. RAVI, AD VOCATE DATE OF HEARING : 8 TH JANUARY, 2014 DATE OF PRONOUNCEMENT : 8 TH JANUARY, 2014 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT THIS APPEAL FILED BY THE REVENUE RELATES TO ASSES SMENT YEAR 2007-08. THE APPEAL IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-I AT COIMBATOR E, DATED 27.11.2012 AND ARISES OUT OF THE ASSESSMENT COMPLET ED UNDER SECTION 143(3) OF THE INCOME-TAX ACT, 1961. 2 I.T.A. NO. 173/MDS/13 2. THE FIRST ISSUE RAISED IN THE APPEAL IS THAT THE COMMISSIONER OF INCOME TAX (APPEALS) HAS ERRED IN HOLDING THAT T HE ASSESSEE IS ENTITLED TO DEDUCTION UNDER SECTION 80-IA OF INCOME -TAX ACT, 1961 IN RESPECT OF THE UNITS, SEPARATELY. THIS ISSUE WAS C ONSIDERED BY ITAT, CHENNAI D-BENCH IN ASSESSEE'S OWN CASE FOR T HE ASSESSMENT YEAR 2005-06 IN THEIR ORDER IN I.T.A. NO . 1672/MDS/08 DATED 21 ST APRIL, 2011, WHEREIN THE TRIBUNAL HAS HELD THAT TH E ASSESSEE IS ENTITLED TO DEDUCTION UNDER SECTION 80- IA. IN VIEW OF THE ABOVE, THIS GROUND IS DECIDED AGAINST THE REVEN UE. 4. THE NEXT ISSUE RAISED BY THE REVENUE IS THAT THE COMMISSIONER OF INCOME TAX (APPEALS) HAS ERRED IN D IRECTING HIGHER RATE OF DEPRECIATION ON WIND MILLS. THIS IS SUE ALSO STANDS DECIDED IN FAVOUR OF ASSESSEE BY THE TRIBUNAL AS DE CIDED IN THE CASE OF K.K.S.K. LEATHER PROCESSORS (P.) LTD. V. IT O (126 ITD 215). THE COMMISSIONER OF INCOME TAX (APPEALS) HAS FOLLOW ED A BINDING ORDER OF THE TRIBUNAL AND THEREFORE, THERE IS NOTHI NG FOR US TO INTERFERE IN THE ORDER PASSED BY THE COMMISSIONER O F INCOME TAX (APPEALS). THIS ISSUE IS ALSO DECIDED AGAINST THE REVENUE. 5. IN RESULT, THIS APPEAL FILED BY THE REVENUE IS D ISMISSED. 3 I.T.A. NO. 173/MDS/13 ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON WEDNESDAY, THE 8 TH OF JANUARY, 2014 AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (DR. O.K. NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED, THE 8 TH JANUARY, 2014. KRI. COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT-I, COI MBATORE. 4. CIT(A)-I, COIMBATORE 5. DR 6. GF.