Triveni Engineering and Industries Ltd., Noida V. Pr. CIT (Central), Kanpur

ITA 2030/DEL/2015

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 1902 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 7 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-11-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2008-2009
• Appeal Filed On: 08-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJAY GOEL
• Assessee Lawyers: ROHIT JAIN; TEJASVI JAIN
• Keywords: Capital receipt
• Section: 263; 15

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A , NEW DELHI BEFORE SH. N. K. SAINI, HON BLE VICE PRESIDENT AND SH. SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER ITA NO. 2030 /DEL/201 5 : ASSTT. YEAR: 20 08 - 09 ITA NO. 2031/DEL/2015: ASST T . YEAR:2009 - 10 ITA NO. 2032 /DEL/2015: ASST T . YEAR:2010 - 11 ITA NO. 2033/DEL/2015: ASST. YEAR:2011 - 12 TRIVENI ENGINEERING AND INDUSTRIES LTD., 8 TH FLOOR, EXPRESS TRADE TOWERS , 15 - 16, SECTOR - 16A, NOIDA VS PR. CIT (CENTRAL), KANPUR (AP PELLANT) (RESPONDENT) PAN - AABCT6370L ASSESSEE BY : SH. ROHIT JAIN, ADV & MS. TEJASVI JAIN, ADV REVENUE BY : SH. SANJAY GOEL, CIT (DR) DATE OF HEARING : 15.11 .201 8 DATE OF PRONOUNCE MENT : 19 .11 .201 8 ORDER PER N. K. SAINI, VICE PRESIDENT : THESE APPEALS BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDER DATED 02.02.2015 OF THE LEARNED PR. CIT (CENTRAL), KANPUR. 2. DURING THE COURSE OF HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE AT THE VERY OUTSET STATED THAT HE HAS THE INSTRUCTION TO WITHDRAW THESE APPEALS AND GAVE IN WRITING AS UNDER: - ITA NO . 2030 /DE L /201 5 ITA NO.2031/DEL/2015 ITA NO.2032/DEL/2015 ITA NO.2033/DEL/201 5 2 THE HON BLE MEMBERS DELHI A BENCH, INCOME TAX APPELLATE TRIBUNAL, LOK NAYAK BHAWAN, KHAN MARKET, NEW DELHI SIRS RE: INCOME - TAX APPEALS IN THE MATT ER OF TRIVENI ENGINEERING & INDUSTRIES LTD. FOR THE ASSESSMENT YEARS 2008 - 09 TO 2011 - 12 (1TA NOS.2030 TO 2033/DEL/2015) THE CAPTIONED APPEALS ARE FIXED FOR HEARING BEFORE THE HON BLE BENCH TODAY. IN THIS REGARD, IT IS RESPECTFULLY SUBMITTED AS UNDER: THE CAPTIONED APPEALS HAVE BEEN FILED AGAINST THE CONSOLIDATED ORDER DATED 2.2.2015 PASSED B Y THE PRINCIPAL COMMISSIONER OF INCOME TAX ('PCIT ) UNDER SECTION 263 OF THE INCOME TAX ACT 1961 ('THE ACT) FOR ASSESSMENT YEARS 2008 - 09 TO 2011 - 12 WHEREIN THE PCIT HA D SET - ASIDE THE FOLLOWING TWO ISSUES TO THE FILE OF THE ASSESSING OFFICER FOR FRESH EXAMINATION: CLAIM FOR DEDUCTION UNDER SECTION 80 - 1A OF THE ACT IN RESPECT OF PROFITS FROM STEAM GENERATION: AMOUNT RECEIVED FROM SALE OF CARBON CREDITS TREATED AS CAPITAL RECEIPT. PURSUANT TO THE AFORESAID, FRESH ASSESSMENTS WERE MADE VIDE SEPARATE CONSEQUENTIAL ORDER(S) DATED 5.5.2015 PASSED BY THE ASSESSING OFFICER FOR AY S 2008 - 09 TO 201 1 - 12. COPIES ENCLOSED. IN THE SAID ORDERS, THE ASSESSING OFFICER, AFTER DETAILED EX AMINATION, ACCEPTED THE CLAIMS OF THE APPELLANT. IN VIEW OF THE AFORESAID CONSEQUENTIAL ORDERS PASSED BY THE ASSESSING OFFICER, THE PRESENT APPEALS FILED BY THE APPELLANT AGAINST THE ORDERS PASSED BY THE PCIT UNDER SECTION 263 OF THE ACT HAVE, IT IS SUBMI TTED, MERELY BEEN RENDERED ACADEMIC IN NATURE. IN THE AFORESAID CIRCUMSTANCES, THE APPELLANT SEEKS PERMISSION OF THE HON BLE T RIBUNAL TO WITHDRAW THE CAPTIONED APPEALS. ACCORDINGLY, THE CAPTIONED APPEALS MAY KINDLY BE DISMISSED AS WITHDRAWN. WE TRUST TH AT OUR REQUEST SHALL BE ACCEDED TO, THANKING YOU, YOURS FAITHFULLY, FOR VAISH ASSOCIATES ADVOCATES SD/ - TEJASVI JAIN ITA NO . 2030 /DE L /201 5 ITA NO.2031/DEL/2015 ITA NO.2032/DEL/2015 ITA NO.2033/DEL/201 5 3 3. IN HIS RIVAL SUBMISSIONS, THE LEARNED SR. DR DID NOT OBJECT IF THE APPEALS OF THE ASSESSEE ARE DISMISSED AS WITHDRAWN. 4. IN VIEW O F THE ABOVE, THE APPEALS FILED BY THE ASSESSEE ARE DISMISSED AS WITHDRAWN. 5 . IN THE RESULT, APPEAL S OF THE ASSESSEE ARE DISMISSED . ( ORDER PRON OUNCED I N THE OPEN COURT ON 19 /11 / 2018 ) SD/ - SD/ - ( SUDHANSHU SRIVASTAVA ) (N. K. SAINI ) JUDICIAL MEMBER VICE PRESIDENT DATED: 19 /11 /2018 SH