ESSKAY INTERNATIONAL, MUMBAI V. DCIT 12(3), MUMBAI

ITA 2406/MUM/2012

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 71379 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-10-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 01-10-2013
• Assessment Year: 2001-2002
• Appeal Filed On: 11-04-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G K GARG
• Assessee Lawyers: BHARAT DALAL
• Section: 80HHC; 154

Judgement Text

IN THE INCO ME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ./I.T.A. NO. 2405/M/2012 ( AY : 2000 - 20 0 1 ) ./I.T.A. NO. 2406/M/2012 ( AY : 2001 - 20 02 ) ./I.T.A. NO. 2407/M/2012 ( AY : 2002 - 20 03 ) ESSKAY INTERNATIONAL, 27, MAKER CHAMBER, NARIMAN POINT, MUMBAI 400 021. / VS. DCIT - 12(3), AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020. ./ PAN : AAAFE 0638 E ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI BHARAT DALAL / RESPONDENT BY : SHRI G.K. GARG, DR / DATE OF HEARING : 1.10 .2013 / DATE OF PRONOUNCEMENT : 1 .10 .2013 / O R D E R PER D. KARUNAKARA RAO, AM: THERE ARE THREE APPEALS UNDER CONSIDERATION. ALL THE THREE APPEALS ARE FILED BY THE A SSESSEE ON 11.4.2012 AGAINST SEPARATE ORDERS OF THE CIT (A) - 24, MUMBAI COMMONLY DATED 17.1.2012 FOR THE ASS ESSMENT YEARS 2000 - 01 TO 2002 - 03 RESPECTIVELY. 2. BEFORE US, AT THE OUTSET, SHRI BHARAT DALAL, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO PAGE 1 OF THE PAPER BOOK AND MENTIONED THAT THE ISSUE IN QUESTION RELATES TO THE COMPUTATION OF DEDUCTION U/ S 80HHC OF THE ACT QUA THE DEPB CREDITS. IN THIS REGARD, LD COUNSEL MENTIONED THAT THE ASSESSEE IS ENTITLED TO RELIEF IN RESPECT OF THESE RECEIPTS IN VIEW OF THE JUDGMENT OF THE HONBLE SUPREME COURT IN THE CASE OF M/S. TOPMAN EXPORTS VS. ITO 342 ITR 49 D ATED 8.2.2012. FURTHER, LD COUNSEL MENTIONED THAT ASSESSEE MADE AN APPLICATION TO THE CIT (A) U/S 154 OF THE ACT AND SOUGHT RECTIFICATION BY RELYING ON THE CITED JUDGMENT OF THE SUPREME COURT. ACCORDINGLY, CIT 2 (A) RECTIFIED HIS ORDERS THEREBY THE ASSESSE E HAS NO GRIEVANCE ON THIS ISSUE. AS A RESULT, THE PRESENT APPEALS BEING RELATED TO THE SAME ISSUE BECOME IN FRUCTUOUS AND THE SAME MAY BE DISPOSED OF ACCORDINGLY. 3. ON OTHER HAND, LD DR HAS NOTHING TO CONTRIBUTE ON HIS PART REGARDING THE ISSUE UNDER C ONSIDERATION. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE ORDERS OF THE REVENUE AUTHORITIES AS WELL AS THE CITED JUDGMENT OF THE HONBLE SUPREME COURT IN THE CASE OF TOPMAN EXPORTS LTD (SUPRA) . WE HAVE ALSO GONE THROUGH THE PARA 1 AND RELEVANT PRAYE R OF THE ASSESSEE WHICH IS REPRODUCED HERE UNDER: THIS APPEAL IS AGAINST THE ORDER OF THE CIT (A) HOLDING THAT THE AO WAS CORRECT IN NOT GRANTING CLAIM OF DEDUCTION U/S 80HHC IN RESPECT OF THE FACE VALUE OF DEPB WHERE TURNOVER EXCEEDS RS. 10 CR AND THE RA TE OF DEPB IS HIGHER THAN THE RATE OF DUTY DRAW BACK. THE LEARNED CIT (A) UPHELD THE ORDER OF THE AO ON THIS POINT BASED ON THE HONBLE MUMBAI HIGH COURTS ORDER IN THE CASE OF KALPATARU COLOURS & CHEMICALS WHICH HAS BEEN REVERSED BY HONBLE SUPREME COURT IN TOPMAN EXPORTS VS. CIT [2012] 342 ITR 49 VIDE ITS ORDER DATED 8.2.2012. . . IN VIEW OF THE ABOVE, THE APPEAL BEFORE YOUR HONOUR IS IN FRUCTUOUS. WE PRAY THAT YOUR HONOUR MAY THEREFORE DISPOSE OF THE APPEAL ACCORDINGLY. 5. CONSIDERING THE ABO VE, ALL THE THREE APPEALS FILED BY THE ASSESSEE ARE DISMISSED AS IN FRUCTUOUS. 6. IN THE RESULT, THREE APPEALS FILED BY THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCE D IN THE OPEN COURT ON 1 ST OCTOBER, 2013. SD/ - SD/ - ( AMIT SHUKLA ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 1 .10 .2013 . . ./ OKK , SR. PS 3 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI