Opti Products Pvt. Ltd., CHENNAI V. ITO, CHENNAI

ITA 2890/CHNY/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 2681 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-03-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 16-10-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: D ANAND
• Keywords: Principle of natural justice
• Section: 72

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI , , $ BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER /. I.T.A. NO.2890/CHNY/2019 / ASSESSMENT YEAR : 2007-08 M/S. OPTI PRODUCTS PVT. LTD., NO. 81-B, 2 ND MAIN ROAD, AMBATTUR INDUSTRIAL ESTATE, CHENNAI 600 058. [PAN: AAACO 1099E] VS. INCOME TAX OFFICER, CORPORATE WARD V(1), CHENNAI 600 034. ( / APPELLANT) ( %&' /RESPONDENT ) '( / APPELLANT BY : SHRI. D. ANAND, ADVOCATE %&'( / RESPONDENT BY : SHRI. A R V SREENIVASAN, JCIT ( /DATE OF HEARING : 21.01.2020 ( /DATE OF PRONOUNCEMENT : 10.03.2020 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER : THE ASSESSEE FILED THIS APPEAL AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS)-3, CHENNAI, IN ITA NO. 141/CIT (A)-3/2017-18 DATED 13.09.2019 FOR ASSESSMENT YEAR 2007-08. :-2-: ITA NO.2890/CHNY/2019 2. M/S. OPTI PRODUCTS PVT. LTD., THE ASSESSEE HAD CLAIMED DEDUCTION U/S. 80IA(4)(III) IN RESPECT OF PRINCE T ATIA INFO PARK PURPORTEDLY DEVELOPED AND OPERATED BY IT. THE AO R EQUIRED THE ASSESSEE TO FURNISH A COPY OF NOTIFICATION ISSUED BY THE CEN TRAL GOVERNMENT IN FAVOUR OF PRINCE TATIA INFO PARK, TOWARDS WHICH T HE ASSESSEE SUBMITTED THAT IT HAS FILED A PETITION NO. 26672 OF 2011 BEFO RE THE HONBLE JURISDICTIONAL HIGH COURT OF MADRAS PRAYING FOR ISS UANCE OF NOTIFICATION FOR DUE RECOGNITION. SINCE THE ASSESSEE HAS NOT SATISF IED THE BASIC CONDITION FOR CLAIMING DEDUCTION U/S. 80IA(4)(III), THE AO RE JECTED THE ASSESSEES CLAIM AND COMPLETED THE ASSESSMENT. AGGRIEVED, THE ASSESSEE FILED AN APPEAL BEFORE THE CIT(A). THE LD. CIT(A) DISMISSED THE APPEAL. AGGRIEVED AGAINST THAT ORDER, THE ASSESSEE FILED TH IS APPEAL. 3. THE LD. AR SUBMITTED THAT SINCE THE WRIT PETITIO N FILED BY THE ASSESSEE BEFORE THE HONBLE JURISDICTIONAL HIGH COU RT IS PENDING, HE PLEADED THAT THE ISSUES IN THIS APPEAL MAY BE RESTO RED BACK TO THE FILE OF THE AO FOR RE-ADJUDICATION AFTER THE DISPOSAL OF WR IT PETITION BY THE HONBLE JURISDICTIONAL HIGH COURT. IN THIS REGARD, THE LD. AR SUBMITTED THAT THIS TRIBUNAL IN ITS OWN CASE FOR ASSESSMENT Y EAR 2010-11 IN ITA NO. 894/CHNY/2015 DATED 04.06.2019, ON SIMILAR PLEA, RE STORED THE ISSUES IN THAT APPEAL TO THE FILE OF THE AO FOR RE-ADJUDICATI ON AFTER THE DECISION OF :-3-: ITA NO.2890/CHNY/2019 THE HONBLE JURISDICTIONAL HIGH COURT IN THE WRIT P ETITION OF THE ASSESSEE IN WP NO. 26672 OF 2011. 4. WE HEARD THE RIVAL SUBMISSIONS AND GONE THROUGH THE RELEVANT MATERIAL. SINCE, THE ASSESSEES WRIT PETITION BEFO RE THE HONBLE JURISDICTIONAL HIGH COURT IS PENDING FOR DECISION, FOLLOWING THE ORDER OF THIS TRIBUNAL, IN THE INTERESTS OF NATURAL JUSTICE, THE ISSUES IN THIS APPEAL ARE RESTORED TO THE FILE OF AO FOR RE-ADJUDICATION AFTER THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE WP NO. 266 72 OF 2011. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON TUESDAY, 10 TH MARCH, 2020 AT CHENNAI. SD/- ( ) (GEORGE MATHAN) ! /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) ! /ACCOUNTANT MEMBER /CHENNAI, 0 /DATED: 10 TH MARCH, 2020 JPV (%2343 /COPY TO: 1. '/ APPELLANT 2. %&' /RESPONDENT 3. 5 ) (/CIT(A) 4. 5 /CIT 5. 3% /DR 6. /GF