ACIT, Tiruppur V. M/s. Prabhath Mills, Tiruppur

ITA 1996/CHNY/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 77258 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-05-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 27-03-2014
• Assessment Year: 2010-2011
• Appeal Filed On: 13-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANIRUDH RAI IRS
• Assessee Lawyers: R KUMAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . . . , ! , ' # $ BEFORE DR. O.K. NARAYANAN, VICE PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER ./ I.T.A. NO.1996/MDS/2013 ( / ASSESSMENT YEAR : 2010-2011) THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE I, TIRUPUR 641 602. ( !% /APPELLANT) VS M/S. PRABHATH MILLS, AURL INDUSTRIAL ESTATE, ARULPURAM, PALLADAM ROAD, TIRUPUR 641 605. [PAN :AADFP7442E] ( &'!% /RESPONDENT) / APPELLANT BY : SHRI. ANIRUDH RAI, IRS, CIT-DR / RESPONDENT BY : SHRI. R. KUMAR, ADVOCATE /DATE OF HEARING : 27.03.2014 /DATE OF PRONOUNCEMENT : 08.05.2014 #( / O R D E R PER VIKAS AWASTHY, JUDICIAL MEMBER THE APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, COIMBA TORE, DATED 29.08.2013 RELEVANT TO THE ASSESSMENT YEAR 2010-11. I.T.A.NO.1996/MDS/2013. . :- 2 -: 2. THE ASSESSEE IS A FIRM ENGAGED IN MANUFACTURING AND SALE OF POWER LOOM CLOTH. THE ASSESSEE FILED ITS RETURN FOR ASSESSMENT YEAR 2010-2011 ON 04.08.2010 DECLARING ITS TOTAL INCOME AS C77,97,202/- CLAIMING DEDUCTION U/S. 80IA. DURING SCRUTINY ASSE SSMENT THE ASSESSING OFFICER INTER-ALIA DISALLOWED THE CLAIM OF ASSESSEE. AGGRIEVED BY THE ASSESSMENT ORDER DATED 27.12.2012, THE ASSESSEE PREFERRED IN APPEAL BEFORE THE COMMISSIONER OF INCO ME TAX (APPEALS). THE COMMISSIONER OF INCOME TAX (APPEALS) VIDE IMPUG NED ORDER ALLOWED THE APPEAL OF THE ASSESSEE ON THIS ISSUE. T HE REVENUE HAS COME ON APPEAL AGAINST THE ORDER OF THE COMMISSIONE R OF INCOME TAX (APPEALS). 3. WE HAVE HEARD THE SUBMISSIONS MADE BY THE REPRESEN TATIVE OF BOTH SIDES AND HAVE PERUSED THE ORDERS OF THE AUTHO RITIES BELOW. IT IS NOT DISPUTED THAT THE ISSUE IN HAND IS IDENTICAL T O THE ONE DECIDED BY THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE O F ACIT VS. VELAYUDHASAMY SPINNING MILLS PVT. LTD REPORTED AS 231 ITR 368. THE LEARNED DEPARTMENTAL REPRESENTATIVE (DR) HAS NOT BE EN ABLE TO SHOW ANY JUDGMENT OF THE SUPERIOR COURT WITH A CONTRARY VIEW OR ANY ORDER I.T.A.NO.1996/MDS/2013. . :- 3 -: STAYING THE OPERATION OF JUDGEMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF VELAYUDHAWAMY SPINNING MILLS PVT. LTD(SUPRA). 4. WE DO NOT FIND ANY REASON TO INTERFERE WITH THE ORD ER OF THE COMMISSIONER OF INCOME TAX (APPEALS), ACCORDINGLY, THE APPEAL OF THE REVENUE IS DISMISSED BEING DEVOID OF MERIT. ORDER PRONOUNCED ON THURSDAY, THE 8TH OF MAY, 2014 , AT CHENNAI. SD/- SD/- ( . . . ) (DR. O.K. NARAYANAN) / VICE PRESIDENT ( ! ) (VIKAS AWASTHY) ' # / JUDICIAL MEMBER ! '# /CHENNAI $% /DATED:08.05.2014. K.V %& '( )( /COPY TO: 1. * APPELLANT 2. / RESPONDENT 3. + ( )/CIT(A) 4. + /CIT 5. (,- . /DR 6. -/ 0 /GF. I.T.A.NO.1996/MDS/2013. . :- 4 -: