M/s Baby Marine Products, Kollam V. Assistant Commissioner of Income Tax, Kollam

ITA 207/COCH/2009

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61538 (ITAT-COCHIN)
• Duration Of Justice: 3 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-05-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2001-2002
• Appeal Filed On: 20-04-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment
• Section: 80HHC; 154

Judgement Text

2 ITA NO. 207/COCH/2009 THE EXPORT HOUSE IN ITS FAVOUR) AS FORMING PART OF ITS EXPORT TURNOVER AND, THUS, EXIGIBLE FOR DEDUCTION UNDER SE CTION 80HHC OF THE ACT, STANDS SETTLED BY A SERIES OF BINDING DECI SIONS? 1.2 WHETHER, IN ANY CASE, THE MATTER, AFTER EXAMINA TION OF THE OBTAINING FACTS AND CIRCUMSTANCES, STANDS CONCLUDED IN THE AFFIRMATIVE IN THE ASSESSEES OWN CASE FOR THE CURR ENT ASSESSMENT YEAR ITSELF, PRECLUDING IT BEING AGITATED IN THE IN STANT PROCEEDING? 2. IF SO, WHETHER THE ASSESSING OFFICER WAS ACCORDI NGLY RIGHT IN PROCEEDING TO APPLY THE RETROSPECTIVE AMENDMENT TO SEC.80HHC (BY THE TAXATION LAWS (AMENDMENT) ACT, 20 05, WITH RETROSPECTIVE EFFECT FROM 1.4.1998) BY INVOKING SEC TION 154 OF THE ACT? 2. THE HONBLE VICE PRESIDENT (BZ), AS A THIRD MEMB ER AGREED WITH THE LD.JUDICIAL MEMBER IN ALLOWING THE CLAIM OF THE ASSESSEE UNDER PROVISO TO SECTION 80HHC OF THE ACT. HOWEVER, IN RESPECT OF THE POWER OF THE ASSES SING OFFICER TO RECTIFY THE ORDER U/S 154, THE THIRD MEMBER AGREED WITH THE LD.ACCOUNTANT MEMBER. SINCE THE CLAIM OF THE ASSESSEE WAS ALLOWED BY MAJORITY OPINION BY HOLDING THAT THE ASSESSEE IS ENTITLED FOR DEDUCTION UNDER PROVISO TO SECTION 80HHC, THE APPEA L OF THE ASSESSEE HAS TO BE ALLOWED. 3. ACCORDINGLY, THE APPEAL OF THE ASSESSEE IS ALLOW ED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON THIS 25 TH DAY OF MAY, 2012. SD/- SD/- (B.R. BASKARAN) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 25 TH MAY, 2012 PK/- 3 ITA NO. 207/COCH/2009 COPY TO: 1. APPELLANT 2. RESPONDENT 3. THE COMMISSIONER OF INCOME-TAX(A) 4. THE COMMISSIONER OF INCOME-TAX 5. DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH