DCIT,Cir.-2, Pune V. M/s. Prasad Constructions, Pune

ITA 201/PUN/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 49796 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 3 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 04-02-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI I.C. SUDHIR, JUDICIAL MEMBER AND SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER. I.T.A. NO. 201/PN/2010 ASS ESSMENT YEAR : 2003-04. DY. CIT CIR. 2, PUNE APPELLANT VS. PRASAD CONSTRUCTIONS YASHSHREE, KHARADKAR NAGAR, WADGAONSHERI PUNE-14 PAN AADFP 3960 RESPONDENT APPELLANT BY : MS. NEERA MALHOTRA RESPONDENT BY : SHRI NIKHIL PATHAK O R D E R PER D. KARUNAKARA RAO, A.M. THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AG AINST THE ORDER OF THE CIT(APPEALS)-II, PUNE DATED 17-11-2009, ALLOWING TH E DEDUCTION U/S 80-IB(10) OF THE ACT. 2. AT THE VERY OUTSET, THE LEARNED COUNSEL FOR THE ASSESSEE FILED A COPY OF JUDGMENT OF JURISDICTIONAL HIGH COURT IN THE CASE O F CIT VS. BRAHMA ASSOCIATES (2011) 239 CTR (BOM) 30 AND INFORMED THAT THE ORDER OF THE TRIBUNAL IN THE SAID CASE WAS APPROVED IN PRINCIPLE AND CONSEQUENTLY THE ASSESSMENT FOR THE YEAR UNDER CONSIDERATION IS OUTSIDE THE AMBIT OF AMENDME NT OF SECTION 80-IB(10) OF THE ACT. CONSEQUENTLY THE GROUNDS RAISED BY THE RE VENUE SHOULD BE DISMISSED. 3. WE HAVE PERUSED THE ORDERS OF THE REVENUE AND FO UND THAT THE CIT(A) GAVE RELIEF TO THE ASSESSEE ESSENTIALLY RELYING UPO N THE DECISION OF SPECIAL BENCH ITA NO. 201/PN/2010 PRASAD CONSTRUCTION A.Y. 2003-04 2 OF THE TRIBUNAL IN THE CASE OF BRAHMA ASSOCIATES & OTHERS (2009) 122 TTJ 433. WE HAVE PERUSED THE JURISDICTIONAL HIGH COURT JUDGM ENT IN THE SAID CASE (SUPRA). IT IS BINDING ON OUR PART TO IMPLEMENT THE SAID JUR ISDICTIONAL HIGH COURT JUDGMENT. CONSEQUENTLY, WE APPROVE THE ORDER OF TH E CIT(A). ACCORDINGLY, THE GROUNDS RAISED BY THE REVENUE STAND DISMISSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST MAY 2011 SD/- SD/- (I.C. SUDHIR) ( D.KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE DATED THE 31 ST MAY 2011 ANKAM COPY OF THE ORDER IS FORWARDED TO : 1. ASSESSEE 2. DEPARTMENT 3. CIT-II PUNE 4. CIT(A) II PUNE 5. D.R. ITAT B BENCH BY ORDER ASSISTANT REGISTRAR I.T.A.T PUNE