Deputy Commissioner of Income TAx Circle-5(1)(2), Bangalore V. M/s Prasad Technology Park Pvt Ltd , Bangalore

ITA 2114/BANG/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 4595 (ITAT-BANGALORE)
• Duration Of Justice: 7 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-06-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 02-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B R RAMESH
• Assessee Lawyers: PRATIBHA
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH A BEFORE S HRI N.V. VASUDEVAN , JUDICIAL MEMBER AND SHRI JASON P BOAZ , ACCOUNTANT MEMBER I.T . A. NO. 2114 /BANG/20 17 (ASSESSMENT YEAR : 20 13 - 14 ) DY. COMMISSIONER OF INCOME TAX, CIRCLE 5(1)(2), BAN GALORE. . APPELLANT. VS. M/S. PRASAD TECHNOLOGY PARK PVT. LTD., NO.2/10, 3 RD FLOOR, 80 FEET ROAD, POOJARI LAYOUT, RMV 2 ND STAGE, BANGALORE - 560 094 . .. RESPONDENT. APPELLANT BY : SHRI B.R. RAMESH, JCIT (D.R) R E SPONDENT BY : SMT. PRATIBHA, ADVOCATE. DATE OF H EARING : 12.06.2018. DATE OF P RONOUNCEMENT : 15 .06 .201 8 . O R D E R PER SHRI JASON P BOAZ, A .M . : THIS APPEAL BY REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 5 , BANGALORE DT.4.7.2017 FOR THE ASSESSMEN T YEAR 20 13 - 14. 2. BRIEFLY STATED, THE FACTS OF THE CASE ARE AS UNDER : - 2 IT A NO. 2114 /BANG/201 7 2.1 THE ASSESSEE COMPANY, ENGAGED IN THE BUSINESS OF OPERATION AND MAINTENANCE OF INDUSTRIAL PARK, FILED ITS RETURN OF INCOME FOR ASSESSMENT YEAR 2013 - 14 ON 28.9.2013 DEC LARING NIL INCOME ; AFTER CLAIMING DEDUCTION UNDER SECTION 80 IA(4)(III) AND 80 IA(4)(IV) OF THE INCOME TAX ACT, 1961 (IN SHORT 'THE ACT'). THE CASE WAS TAKEN UP FOR SCRUTINY AND THE ASSESSMENT CONCLUDED UNDER SECTION 143(3) OF THE ACT VIDE ORDER DT.21.3.2 016 WHEREIN THE ASSESSEE'S INCOME WAS DETERMINED AT RS.1,49,35,901 BY, INTER ALIA, D ISALLOWING THE ASSESSEE'S CLAIM FOR DEDUCTION UNDER SECTION 80IA(4)(III) OF THE ACT. 2.2 AGGRIEVED BY THE ORDER OF ASSESSMENT FOR ASSESSMENT YEAR 2013 - 14 DT.21.3.201 6, THE ASSESSEE FILED AN APPEAL BEFORE THE CIT (APPEALS) 5, BANGALORE CHALLENGING THE ASSESSING OFFICER S ACTION I N DISALLOWING ITS CLAIM OF DEDUCTION UNDER SECTION 80IA(4)(III) OF THE ACT . THE LEARNED CIT (APPEALS) ALLOWED THE ASSESSEE'S APPEAL VIDE T HE IMPUGNED ORDER DT.4.7.2017 FOLLOWING THE DECISION OF THE CO - ORDINATE BENCH OF THIS TRIBUNAL IN THE ASSESSEE'S OWN CASE FOR ASSESSMENT YEARS 2007 - 08 AND 2008 - 09 VIDE ORDER DT.10.5.2013 IN ITA NOS.138 & 139/BANG/2013. 3 IT A NO. 2114 /BANG/201 7 3.1 REVENUE, BEING AGGRIEVED BY T HE ORDER OF THE CIT (APPEALS) 5, DT.4.7.2017 FOR ASSESSMENT YEAR 2013 - 14, HAS FILED THIS APPEAL WHEREIN IT HAS RAISED THE FOLLOWING GROUNDS : - 3.2 THE LEARNED DEPARTMENTAL REPRESENTATIVE FOR REVENUE WAS HEARD IN SUPPORT OF THE GROUNDS RAISED. 3. 3 PER CONTRA, THE LEARNED AUTHORISED REPRESENTATIVE FOR THE ASSESSEE SUBMITTED THAT THERE WAS NO ERROR IN THE IMPUGNED ORDER OF THE LEARNED CIT (APPEALS) IN GRANTING THE ASSESSEE DEDUCTION CLAIMED UNDER SECTION 80IA(4)(III) OF THE ACT AS IN DOING SO HE FOLLOWED THE BINDING DECISION OF THE CO - ORDINATE BENCH OF THIS TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEARS 2007 - 08 AND 2008 - 09 VIDE ORDER DT.10.5.2013 IN ITA NOS.138 & 139/BANG/2013. IT WAS SUBMITTED THAT SUBSEQUENTLY ALSO, 4 IT A NO. 2114 /BANG/201 7 ANOTHER CO - ORDINATE BENCH OF THIS TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2010 - 11 AND 2011 - 12 VIDE ORDER IN ITA NOS.1498 & 1499/BANG/2015 DT.22.9.2016 HAS UPHELD THE LEARNED CIT (APPEALS) S ORDER IN ALLOWING THE ASSESSEE'S CLAIM FOR DEDUCTION UNDER SECTION 80IA( 4)(III) OF THE ACT. 3.4.1 WE HAVE HEARD THE RIVAL CONTENTIONS, PERUSED AND CAREFULLY CONSIDERED THE MATERIAL ON RECORD; INCLUDING THE JUDICIAL PRONOUNCEMENTS CITED. WE FIND THAT THE ISSUE IN QUESTION FOR ADJUDICATION BEFORE US I.E. THE ASSESSEE'S CLA IM FOR DEDUCTION UNDER SECTION 80IA(4)(III) OF THE ACT, IS SQUARELY COVERED BY THE ORDER S OF THE CO - ORDINATE BENCH OF THIS TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR S 2010 - 11 AND 2011 - 12 VIDE ORDER IN ITA NOS.1498 & 1499/BANG/2015 DT.22.9.2016. AT PARAS 8 & 9 OF THE TRIBUNAL S ORDER (SUPRA), IT HAS BEEN HELD AS UNDER : 8. WE FIND THAT THE ISSUE IN QUESTION IS SQUARELY COVERED BY THE ORDER OF THE TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2007 - 08 AND 2008 - 09 IN NOS. ITA 138 TO 139/B ANG/2013 DATED 10 TH MAY, 2013 WHEREIN THE CIT (APPEALS) S ORDER WAS REVERSED AND THE TRIBUNAL HELD THAT THE ASSESSEE WAS ENTITLED TO DEDUCTION UNDER SECTION 80IA(4)(III) OF THE ACT. 5 IT A NO. 2114 /BANG/201 7 9. RESPECTFULLY FOLLOWING THE DECISION OF A CO - ORDINATE BENCH OF THE TR IBUNAL WE DISMISS THE APPEALS FILED BY THE REVENUE. 3.4.2 FOLLOWING THE AFORESAID DECISION OF THE CO - ORDINATE BENCH OF THIS TRIBUNAL IN ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR S 2010 - 11 AND 2011 - 12 DT.22.9.2016 (SUPRA), WE DISMISS THE GROUNDS FILED BY REVENUE. 4. IN THE RESULT, REVENUE S APPEAL FOR ASSESSMENT YEAR 2013 - 14 IS DISMISSED. PR O N O U N C E D I N T H E O P EN C O U RT O N T H I S 15 TH D AY O F J U N E, 2 0 1 8 . SD/ - (N.V. VASUDEVAN) JUDICIAL MEMBER SD/ - (JASON P BOAZ) ACCOUNTANT MEMBER BANGALORE, DT.15.06.2018. *REDDY GP COPY TO : 1 APPELLANT 4 CIT(A) 2 RESPONDENT 5 DR. ITAT, BANGALORE 3 CIT 6 GUARD FILE SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL BANGALORE.