ITO (E)-1(1), MUMBAI V. THE COTTON TEXTILES EXPORT PROMOTION COUNCIL, MUMBAI

ITA 2804/MUM/2010

• Counselvise Citation: 280419914 RSA 2010
• Duration Of Justice: 1 year(s) 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 26-07-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 09-04-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ALEXANDER CHANDY
• Assessee Lawyers: SHEETAL S PAREKH; KETAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES C : MUMBAI BEFORE SHRI D.MANMOHAN, VICE PRESIDENT AND SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER ITA. NO. 2804/MUM/2010 ASSESSMENT YEAR 2005-2006 ITA. NO. 2805/MUM/2010 ASSESSMENT YEAR 2006-2007 ITO(E)-1(1) MUMBAI VS. THE COTTON TEXTILES EXPORT PROMOTION COUNCIL, MUMBAI 400 004 PAN AAADT4169N (APPELLANT) (RESPONDENT) FOR APPELLANT : SHRI ALEXANDER CHANDY, SR. D.R. FOR RESPONDENT : MS SHEETAL S. PAREKH & SH RI KETAN PANCHAMATIA DATE OF HEARING : 26-7-2011 DATE OF PRONOUNCEMENT : 26-7-2011 ORDER PER D. MANMOHAN, V.P. 1. THESE TWO APPEALS BY THE REVENUE ARE DIRECTED A GAINST THE ORDERS, DATED 30-11-2009, PASSED BY THE CIT(A)- I, MUMBAI AND THEY PERTAIN TO THE ASSESSMENT YEARS 2005-2006 AND 2006-2007. IDENTICAL ISSUE IS INVOLVED IN BOTH THE APPEALS AND FOR THE SAKE OF IMMEDIATE REFERENCE COMMON GROUNDS URGED BEFORE US ARE EXTRACTED BELOW : 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, AND IN LAW, THE LEARNED CIT(A) ERRED IN DIRECTING T HE ASSESSING OFFICER TO EXCLUDE THE ENTRANCE FEES FROM THE INCOME OF THE ASSESSEE WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE IS A TRUST AND THEREFORE THERE IS NO DISTINCTION BETWEEN CAPITAL AND REVENUE RECEIPTS. ITA.NO.2804&2805/M/2010 THE COTTON TEXTILES EXPORT PROMOTION COUNCIL 2 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, AND IN LAW, THE LEARNED CIT(A) ERRED IN NOT APPRECIATING THE FACT THAT CONSIDERING THE EXHAUSTIVE LIST OF EXEMPTIONS AVAILABLE U/S. 11 (1) PROVIDED BY THE STATUTE THE ENTRANCE FEE OUGHT TO HAVE BEEN OFFERED FOR TAX BY THE ASSESSEE FOR WANT OF ITS INCLUSION IN SEC. 11 (1). 3. THE APPELLANT PRAYS THAT THE ORDER OF THE LEARNED CIT(A)-I, MUMBAI BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED. 2. AT THE TIME OF HEARING, LEARNED DR ADMITTED THA T THE ISSUE IS COVERED BY THE DECISIONS OF THE TRIBUNAL IN ASSE SSEES OWN CASE FOR THE EARLIER YEARS ; (A) ITA.NO. 928/MUM/93 AND 1517 /MUM/93 A.Y. 1989-90 D BENCH, ORDER DATED 26 TH JUNE, 2007 (B) ITA. NO. 6525/MUM/2003 AND 5869/MUM/2003 A.Y. 2000-01 J BE NCH, ORDER DATED 4 TH APRIL, 2007 (C) ITA. NO. 6456/MUM/2004 AND 6576/MUM/2004 A.Y.2001-2002 D BENCH, ORDER DATED 11 TH OCTOBER, 2007 (D) ITA.NO.5995/MUM/2006 AND 6047/MUM/2006 A.Y . 2003-04 C BENCH, ORDER DATED 24-9-2008 (E) ITA.NO. 1672/M UM/2009 A.Y. 2004-05 C BENCH, ORDER DATED 26 TH FEBRUARY, 2010. 3. IN THE LIGHT OF THE VIEW TAKEN IN THE AFORECITE D CASES, WE UPHOLD THE ORDER OF THE LEARNED CIT(A) AND DISMISS THE APPEALS FILED BY THE REVENUE. PRONOUNCED ACCORDINGLY IN THE OPEN COURT ON 26-7- 2011. SD/- SD/- (PRAMOD KUMAR) (D.MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATE 26 TH JULY, 2011 VBP/- ITA.NO.2804&2805/M/2010 THE COTTON TEXTILES EXPORT PROMOTION COUNCIL 3 COPY TO 1. ITO(E)-1(1), R.NO. 504, PIRAMAL CHAMBERS, 5 TH FLOOR, PAREL, MUMBAI 12. 2. THE COTTON TEXTILES EXPORT PROMOTION COUNCIL, EN GINEERING CENTRE, 5 TH FLOOR, 9, MATHEW ROAD, MUMBAI 400 004 PAN AAADT4 169N 3. CIT(A)-1, MUMBAI 4. CIT-1, MUMBAI 5. DR C BENCH 6. GUARD FILE TRUE COPY BY ORDER ASST. REGISTRAR, ITAT, MUMBAI BENCHES MUMBAI.