M/s. Bholasons Enterprises, New Delhi V. ACIT, New Delhi

ITA 2304/DEL/2014

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 6739 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 3 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-07-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 27-07-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 16-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K JAIN
• Section: 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : A : NEW DELHI BEFORE SHRI R.S. SYAL, AM & MS SUCHITRA KAMBLE, JM ITA NO.2304/DEL/2014 ASSESSMENT YEAR : 2009-10 BHOLASONS ENTERPRISES, 53/57, RAMJAS ROAD, KAROL BAGH, NEW DELHI. PAN: AADFB8328H VS. ACIT, CIRCLE-33(1), NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI SATYAJIT GOEL, CA DEPARTMENT BY : SHRI S.K. JAIN, DR DATE OF HEARING : 27.07.2016 DATE OF PRONOUNCEMENT : 28 .07.2016 ORDER THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER PASSED BY THE CIT(A) ON 14.2.2014 IN RELATION TO TH E ASSESSMENT YEAR 2009-10. ITA NO.2304/DEL/2014 2 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST NOT ALLOWING DEDUCTION U/S 10B IN RESPECT OF INTEREST OF RS.39,3 7,596/- ASSESSED AS INCOME FROM OTHER SOURCES AGAINST THE CLAIM OF TH E ASSESSEE, BEING, THE SAME FROM BUSINESS. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. IT IS OBSERVED THAT SIMILAR ISSUE CAME UP FOR CONSIDERATION BEFORE THE TRIBUNAL IN THE ASSESSEES OWN CASE FOR THE IMM EDIATELY PRECEDING ASSESSMENT YEAR, NAMELY, 2007-08. VIDE ORDER DATED 29.10.2010 IN ITA NO.2453/DEL/2010, THE TRIBUNAL FOR THE A.Y. 2007-08 ( SIC 2006-07) HAS REMITTED THE MATTER TO THE FILE OF AO FOR FRESH DEC ISION IN THE LIGHT OF CERTAIN DIRECTIONS GIVEN IN PARA 7 OF ITS ORDER. SI MILAR VIEW HAS BEEN REPEATED BY THE TRIBUNAL IN THE ASSESSEES OWN CAS E FOR THE ASSESSMENT YEAR 2008-09 VIDE ORDER DATED 21.7.2016, WHOSE COPY HAS BEEN PLACED ON RECORD BY THE LD. AR. SINCE THE FACTS AND CIRCU MSTANCES OF THE INSTANT CASE ARE MUTATIS MUTANDIS SIMILAR TO THOSE OF THE EARLIER YEARS, RESPECTFULLY FOLLOWING THE PRECEDENT, WE SET ASIDE THE IMPUGNED ORDER ITA NO.2304/DEL/2014 3 AND SEND THE MATTER BACK TO THE FILE OF THE AO FOR A FRESH DECISION IN CONFORMITY WITH THE DIRECTIONS GIVEN BY THE TRIBUNA L IN ITS EARLIER ORDERS. 4. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. THE ORDER PRONOUNCED IN THE OPEN COURT ON 28 .07.20 16. SD/- SD/- [SUCHITRA KAMBLE] [R.S. SYAL] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED, 28 TH JULY, 2016. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.