Dynamic Industries Ltd., Ahmedabad V. The Dy.CIT.,(OSD)Range-1, Ahmedabad

ITA 2360/AHD/2011

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 1234 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 2 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-11-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 07-09-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 16-09-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: P M MEHTA
• Section: 143(3); 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER DYNAMIC INDUSTRIES LTD, PLOT NO. 125, PHASE - 1, GIDC, VATVA, AHMEDABAD - 382445 PAN: AAACD9872E (APPELLANT) VS DY. COMMISSIONER OF INCOME TAX (OSD), RANGE - 1, AHMEDABAD (RESPONDENT) REVENUE BY : S H RI DILEEP KUMAR , SR. D . R. ASSESSEE BY: S H RI P.M. MEHTA , A.R. DATE OF HEARING : 07 - 09 - 2 015 DATE OF PRONOUNCEMENT : 23 - 11 - 2 015 / ORDER P ER : S. S. GODARA , JUDICI AL MEMBER : - THIS ASSESSEE S APPEAL FOR A.Y. 2003 - 04 , AR ISES FROM ORDER OF THE CIT(A) - VI, AHMEDABAD DATED 28 - 07 - 2011 IN APPEAL NO. CIT(A) - VI / DCIT.(OSD).R.1 /258/ 10 - 11 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 254 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2360 / A HD/20 11 A SSESSMENT YEAR 200 3 - 04 I.T.A NO. 2360 /AHD/20 11 A.Y. 2003 - 04 PAGE NO DYNAMIC INDUSTRIES LTD VS. DCIT 2 2. THE SOLE SUBSTANTIVE GROUND RAISED IN THE INSTANT APPEAL CHALLENGES THE CIT(A) S ORDER CONFIRMING ASSESSING OFFICER S ACTION RESTRICTING SECTION 80HHC DEDUCTION CLAIM OF RS. 1,32,54,610/ - TO THAT OF RS. 9,30,971/ - ONLY. THE ASSESSEE FILES A WRITTEN NOTE BEFORE US AVERRING THEREIN THAT THIS REDUCTION IN DEDUCTION CLAIM IS ON ACCOUNT OF AMENDMENT IN STATUTORY PROVISION MADE BY THE TAXATION LAWS (2 ND AMENDMENT) ACT, 2005 DATED 28 - 12 - 2005 STIPULATING CERTAIN ADDITIONAL CONDITIONS IN CASE THE EX PORT TURNOVER IN QUESTION HAPPENED TO BE OF MORE THAN RS. 10 CRORES. IT IS PLEADED THAT THE HON BLE JURISDICTIONAL HIGH COURT IN A BATCH OF CASES REPORTED AS AVANI EXPORTS VS. CIT (2012) 348 ITR 391(GUJ) HAS HELD THAT THESE STIPULATION S COULD NOT BE MADE RETROSPECTIVELY APPLICABLE. THE ASSESSEE FURTHER STATES THAT THE HON BLE APEX COURT IN CIVIL APPEAL NO. 4305 OF 2012 HAS UPHELD THE SAID DECISION . IT PLACES BEFORE US COPY OF A SSESSING OFFICER S CONSEQUENTIAL ORDER PASSED ON 11 - 12 - 2014 ACCEPTING ITS SECT ION 80HHC DEDUCTION CLAIM OF RS. 1,27,83,000/ - . THE LD. AUTHORIZED REPRESENTATIVE S TATES AT THE BAR THAT THE ISSUE IN QUESTION STAND RESOLVED NOW AND PRAYS FOR WITHDRAWAL OF THE INSTANT APPEAL. 3 . THE REVEN UE IS FAIR ENOUGH IN NOT DISPUTING ABOVE STATED FACTUAL POSITION. WE ACCORDINGLY ACCEPT ASSESSEE S PRAYER AND ORDER THE INSTANT APPEAL TO BE WITHDRAWN. I.T.A NO. 2360 /AHD/20 11 A.Y. 2003 - 04 PAGE NO DYNAMIC INDUSTRIES LTD VS. DCIT 3 4. DISMISSED AS WITHDRAWN. ORDER PR ONOUNCED IN THE OPEN C OURT ON 23 - 11 - 2015 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOU NTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 23 /11 /2015 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,