ITO, Coimbatore V. Sri Dhanalakshmi Sizing and Spinning Mill, Coimbatore

ITA 2296/CHNY/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 7760 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 21-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A B KOLI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , . !'# ! , % !& BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ ITA NO. 2296/MDS/2015 ( )( / ASSESSMENT YEAR : 2011-12 THE INCOME TAX OFFICER, NON-CORPORATE WARD 4(1), COIMBATORE. V. M/S SRI DHANALAKSHMI SIZING AND SPINNING MILL, SF NO.226/3, NH 47, AVINASHI RD., KARUMATHAMPATTI 641 659. PAN : AAZFS 3748 N (+,/ APPELLANT) (-.+,/ RESPONDENT) +, / 0 / APPELLANT BY : SH. A.B. KOLI, JCIT -.+, / 0 / RESPONDENT BY : NONE 1 / 2% / DATE OF HEARING : 02.03.2016 3') / 2% / DATE OF PRONOUNCEMENT : 18.03.2016 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) -3, COIMBA TORE, DATED 25.09.2015 AND PERTAINS TO ASSESSMENT YEAR 2011-12. 2. NO ONE APPEARED FOR THE ASSESSEE DESPITE THE SER VICE OF NOTICE OF HEARING. THE NOTICE OF HEARING WAS SERVE D ON THE 2 I.T.A. NO.2296/MDS/15 ASSESSEE BY RPAD. THE REGISTRY HAS PLACED ON RECOR D THE POSTAL ACKNOWLEDGEMENT FOR HAVING SERVED THE NOTICE ON THE ASSESSEE. THEREFORE, WE HEARD THE LD. DEPARTMENTAL REPRESENTA TIVE AND DISPOSING OF THE APPEAL ON MERIT. 3. SH. A.B. KOLI, THE LD. DEPARTMENTAL REPRESENTATI VE, SUBMITTED THAT THE ONLY ISSUE ARISES FOR CONSIDERAT ION IS WITH REGARD TO DEDUCTION UNDER SECTION 80-IA OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT'). THE CIT(APPEALS), BY PLACING REL IANCE ON THE JUDGMENT OF MADRAS HIGH COURT IN ACIT V. VELAYUDHAS WAMY SPINNING MILLS (P) LTD. (231 ITR 368) ALLOWED THE C LAIM OF THE ASSESSEE. ACCORDING TO THE LD. D.R., THE REVENUE H AS ALREADY FILED AN APPEAL AGAINST THE JUDGMENT OF THE MADRAS HIGH C OURT, BEFORE THE HON'BLE APEX COURT. THEREFORE, TO KEEP THE MAT TER ALIVE, THIS APPEAL IS FILED. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS ON EITH ER SIDE AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. THE CLAIM MADE BY THE ASSESSEE UNDER SECTION 80-IA OF THE ACT IS S QUARELY COVERED BY THE JUDGMENT OF MADRAS HIGH COURT IN VELAYUDHASW AMY SPINNING MILLS (P) LTD. (SUPRA). THE CONTENTION OF THE REVENUE BEFORE THIS TRIBUNAL IS THAT AN SLP IS PEND ING BEFORE THE 3 I.T.A. NO.2296/MDS/15 APEX COURT AGAINST THE JUDGMENT OF MADRAS HIGH COUR T IN VELAYUDHASWAMY SPINNING MILLS (P) LTD. (SUPRA). TH IS TRIBUNAL IS OF THE CONSIDERED OPINION THAT PENDENCY OF SLP BEFORE THE HON'BLE APEX COURT CANNOT BE A REASON TO TAKE A DIFFERENT V IEW. THEREFORE, THE CIT(APPEALS) HAS RIGHTLY FOLLOWED THE BINDING J UDGMENT OF JURISDICTIONAL HIGH COURT IN VELAYUDHASWAMY SPINNIN G MILLS (P) LTD. (SUPRA). THEREFORE, THIS TRIBUNAL DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDING LY, THE SAME IS CONFIRMED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED ON 18 TH MARCH, 2016 AT CHENNAI. SD/- SD/- (. !'# ! ) ( . . . ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) % / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 5 /DATED, THE 18 TH MARCH, 2016. KRI. / -267 87)2 /COPY TO: 1. +, /APPELLANT 2. -.+, /RESPONDENT 3. 1 92 () /CIT(A)-3, COIMBATORE 4. PRINCIPAL CIT-2, COIMBATORE 5. 7: -2 /DR 6. ;( < /GF.