M/s Priyansh Sea Foods Pvt Ltd, Visakhapatnam V. The ACIT Circle 4(1) Visakhapatnam, Visakhapatnam

ITA 236/VIZ/2011

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 56816 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-08-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2003-2004
• Appeal Filed On: 29-06-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: D KOMALI KRISHNA
• Assessee Lawyers: Y SURYACHANDRA RAO
• Keywords: Depreciation

Judgement Text

ITA NOS 236 & 237 OF 2011 PRIYANSH SEA FOODS PVT LT D VISAKHAPATNAM PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NOS.236 & 237/VIZAG/2011 ASSESSMENT YEARS: 2003-04 & 2005-06 PRIYANSH SEA FOODS PVT. LTD., VISAKHAPATNAM VS. ACIT CIRCLE-4(1) VISAKHAPATNAM (APPELLANT) PAN NO: AACCP 0347 C (RESPONDENT) APPELLANT BY: SHRI Y. SURYACHANDRA RAO, CA RESPONDENT BY: SMT. D. KOMALI KRISHNA, SR.DR DATE OF HEARING: 25-8-2011 DATE OF PRONOUNCEMENT: 29-8-2011 ORDER PER SHRI B. R. BASKARAN, ACCOUNTANT MEMBER: IN THESE APPEALS PREFERRED BY THE ASSESSEE, THE SOLI TARY ISSUE URGED RELATES TO THE DISALLOWANCE OF CLAIM OF DEPRECIATIO N ON DEEP SEA FISHING VESSELS MADE BY THE ASSESSING OFFICER AND WAS CONFI RMED BY THE LEARNED CIT(A). THESE APPEALS RELATE TO THE ASSESSMENT YEA RS 2003-04 AND 2005- 06. 2. IT WAS BROUGHT TO OUR NOTICE THAT THE ISSUE OF AL LOWING DEPRECIATION ON THE VERY SAME DEEP SEA FISHING VESSELS WAS CONSI DERED BY THIS BENCH OF TRIBUNAL IN THE ASSESSEES OWN CASE, VIDE ITS ORDER DATED 4 TH FEBRUARY, 2011 IN ITA NO.297/VIZAG/2009 RELATING TO THE ASSESSMENT YEAR 2004-05. IN THE SAID ORDER, THE TRIBUNAL DISMISSED THE APPEAL OF TH E ASSESSEE BY CONFIRMING THE DISALLOWANCE OF DEPRECIATION ON THE DEEP SEA FI SHING VESSEL CITED ABOVE. WE NOTICE FROM THE ORDER OF THE LEARNED CIT (A) THA T THE FIRST APPELLATE AUTHORITY HAS FOLLOWED THE SAID ORDER OF THE TRIBUN AL WHILE DECIDING THE IMPUGNED ISSUE AGAINST THE ASSESSEE. 3. DURING THE COURSE OF HEARING, THE LEARNED AUTHOR ISED REPRESENTATIVE, HOWEVER, SOUGHT TO RAISE FEW NEW POINTS WITH A REQU EST TO RECONSIDER THE DECISION ALREADY RENDERED IN THE ASSESSEES OWN CAS E FOR THE ASSESSMENT ITA NOS 236 & 237 OF 2011 PRIYANSH SEA FOODS PVT LT D VISAKHAPATNAM PAGE 2 OF 2 YEAR 2004-05. IN THIS REGARD, HE TOOK SUPPORT OF DE CISION DATED 19-7-2010 PASSED BY THIS BENCH IN THE CASE OF BALAJI SEA FOOD S (P) LTD., IN ITA NO.52/VIZAG/2009. HOWEVER, ON A CAREFUL PERUSAL OF THE ORDER DATED 4 TH FEBRUARY, 2011 PASSED BY THIS BENCH IN THE ASSESSEE S OWN CASE REFERRED (SUPRA), WE NOTICE THAT THE TRIBUNAL HAS CONSIDERED THE DECISION RENDERED IN THE CASE OF BALAJI SEA FOODS (P) LTD AND DISTINGUIS HED THE FACTS. HENCE WE DO NOT FIND ANY REASON TO ACCEPT THE REQUEST MADE B Y THE LEARNED AUTHORISED REPRESENTATIVE. 4. SINCE THE LEARNED CIT (A) HAS FOLLOWED THE ORDER OF THE TRIBUNAL ON THE INSTANT ISSUE, WE DO NOT FIND ANY REASON TO INT ERFERE WITH HIS ORDER. 5. IN THE RESULT, BOTH THE APPEALS OF THE ASSESSEE A RE DISMISSED. PRONOUNCED IN THE OPEN COURT ON 29 TH AUGUST, 2011. SD/- SD/- (SUNIL KUMAR YADAV) (B R BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER PVV/SPS VISAKHAPATNAM, DATE:29-08-2011 COPY TO 1 M/S PRIYANSH SEA FOODS (P) LTD., FLAT NO.11,CLASS IC COMPLEX, PRAKASARAOPETA VISAKHAPATNAM 500020 2 THE ASSTT. COMMISSIONER OF INCOME TAX CIRCLE-4(1) VISAKHAPATNAM 3 4. THE CIT 2, VISAKHAPATNAM THE CIT(A), VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM