JCIT, CHENNAI V. M/s. Arun Excello Foundations Pvt Ltd., CHENNAI

ITA 1823/CHNY/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61306 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-07-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 20-06-2012
• Assessment Year: 2008-2009
• Appeal Filed On: 11-11-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ANIRUDH RAI
• Assessee Lawyers: B RAMAKRISHNAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI BEFORE SHRI ABRAHAM P.GEORGE, ACCOUNTANT MEMBER AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER ITA NO.1823/MDS/2011 (ASSESSMENT YEAR: 2008-09) JOINT COMMISSIONER OF INCOME TAX (OSD), COMPANY CIRCLE-I (1), CHENNAI-600 034. VS. M/S.ARUN EXCELLO FOUNDATIONS PVT. LTD., BHATTAD TOWERS, 18, WEST COTT ROAD, ROYAPETTAH, CHENNAI-600 014. PAN: AABCA8168K (APPELLANT) (RESPONDENT) APPELLANT BY : MR. ANIRUDH RAI, CIT DR RESPONDENT BY : MR. B.R AMAKRISHNAN, C.A. DATE OF HEARING : 20 TH JUNE, 2012 DATE OF PRONOUNCEMENT : 19 TH JULY, 2012 O R D E R PER VIKAS AWASTHY, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE IMPUGNING ORDER OF THE CIT(A)-III, CHENNAI DATED 26 .08.2011. 2. THE ASSESSEE IS A COMPANY REGISTERED UNDER THE PROVISIONS OF THE COMPANIES ACT, 1956 AND IS ENG AGED IN THE BUSINESS OF ENGINEERING CONTRACT WORKS AND BUIL DERS. THE ASSESSEE FILED ITS RETURN OF INCOME FOR THE ASSESSM ENT YEAR 2008-09 ON 17.10.2008 ADMITTING TOTAL INCOME OF ` 87,14,810/-. THE CASE OF THE ASSESSEE WAS TAKEN UP FOR