Tamiol Nadu Trade Promotion Organization, CHENNAI V. ADIT, CHENNAI

ITA 2190/CHNY/2014

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 7232 (ITAT-CHENNAI)
• Duration Of Justice: 4 year(s) 4 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-01-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 25-07-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 27-08-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SAILENDRA MAMIDIPCIT
• Assessee Lawyers: S SRIDHAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH, CHENNAI . . . , , BEFORE SHRI N.R.S.GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER / ITA NOS.2189 TO 2191/CHNY/201 4 $$ /ASSESSMENT YEARS : 2009-10 TO 2011-12 M/S.TAMIL NADU TRADE PROMOTION ORGANIZATION NO.6A/B/C MOUNT POONAMALLEE ROAD, NANDAMBAKKAM, CHENNAI-600 089. VS ASSISTANT DIRECTOR OF INCOME TAX (EXEMPTION)IV, CHENNAI. PAN: AABCT6725H ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : SHRI S.SRIDHAR, ADVOCATE /RESPONDENT BY : SHRI SAILENDRA MAMIDI,PCIT /DATE OF HEARING : 08.01.2019 /DATE OF PRONOUNCEMENT : 09.01.2019 / O R D E R PER N.R.S.GANESAN, JM: ALL THE APPEALS OF THE ASSESSEE ARE DIRECTED AGAIN ST THE COMMON ORDER PASSED BY THE COMMISSIONER OF INCOME TAX(APPEALS)-VII, CHENNAI DATED 30.06.2014 AND PE RTAIN TO ASSESSMENT YEARS 2009-10 TO 2011-12. 2. WHEN THE APPEALS ARE TAKEN UP FOR HEARING, SHRI S.SRIDHAR, LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT TH E APPLICATION FILED BY THE ASSESSEE UNDER SECTION 10(23C)(IV) OF THE ACT WAS 2 ITA NOS.2489 TO 2191/CHNY/2014 REJECTED BY THE CHIEF COMMISSIONER OF INCOME-TAX. T HE ASSESSEE FILED A WRIT PETITION BEFORE THE HIGH COURT AND TH E SAME IS PENDING FOR ADJUDICATION. ON A QUERY FROM THE BENCH , LEARNED COUNSEL FOR THE ASSESSEE CLARIFIED THAT NO INTERIM ORDER / STAY OF THE PROCEEDINGS WAS GRANTED BY THE HIGH COURT. ACC ORDING TO THE LEARNED COUNSEL, SINCE APPROVAL UNDER SECTION 10(23 C)(IV) OF THE ACT, IS PENDING BEFORE THE HIGH COURT IN WRIT PETI TION, THE MATTER MAY BE REMITTED BACK TO THE FILE OF THE ASSESSING O FFICER FOR RE- EXAMINATION, AFTER THE HIGH COURT DISPOSES OF THE WRIT PETITION. 3. WE HAVE HEARD SHRI SAILENDRA MAMIDI, LEARNED DR ALSO. ADMITTEDLY, THERE IS NO APPROVAL UNDER SECTION 10(2 3C) (IV) OF THE ACT AS ON TO-DAY. THE CHIEF COMMISSIONER REJECTED T HE APPLICATION OF THE ASSESSEE FOR APPROVAL UNDER SEC TION 10(23C)(IV) OF THE ACT AND THE SAME IS NOW BEING CH ALLENGED BY THE ASSESSEE IN WRIT PETITION BEFORE THE HIGH COURT . LEARNED COUNSEL FOR THE ASSESSEE CLARIFIED THAT THE HIGH CO URT HAS NOT PASSED ANY INTERIM ORDER OR STAY OF THE PROCEEDING S. IN THOSE CIRCUMSTANCES, THIS TRIBUNAL IS OF THE OPINION THA T ASSESSING OFFICER HAS TO COMPUTE THE INCOME ON COMMERCIAL PRI NCIPLE BY FOLLOWING THE PROVISIONS OF THE INCOME-TAX ACT. IT IS NOT THE CASE OF 3 ITA NOS.2489 TO 2191/CHNY/2014 THE ASSESSEE THAT COMPUTATION MADE BY THE ASSESSING OFFICER IS NOT CORRECT. SINCE NO APPROVAL WAS GRANTED UNDER S ECTION 10(23C)(IV) OF THE ACT, THIS TRIBUNAL IS OF THE CON SIDERED OPINION THAT ASSESSEE IS NOT ELIGIBLE FOR ANY EXEMPTION . THEREFORE, THIS TRIBUNAL FIND NO MERIT IN THE APPEALS OF THE ASSES SEE. ACCORDINGLY, ORDER OF THE COMMISSIONER OF INCOME TA X(APPEALS) IS CONFIRMED. 4. IN THE RESULT, ALL THE APPEALS OF THE ASSESSEE S TAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 9 TH JANUARY, 2019 SD/- SD/- ( ) ( . . . ) ( INTURI RAMA RAO ) ( N.R.S.GANESAN) / ACCOUNTANT MEMBER / JUDICIAL MEMBER /CHENNAI, /DATED 9 TH JANUARY, 2019. SOMU /COPY TO: 1. APPELLANT 2. RESPONDENT 3. ( ) /CIT(A) 4. /CIT 5. /DR 6. /GF