Malabar Cements, Palakkad V. ADCIT, Palakkad

ITA 318/COCH/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61346 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 10 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-04-2012
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 29-03-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 12-05-2010
• Court: TRIBUNAL
• Department Lawyers: S R SENAPATI
• Assessee Lawyers: RADHESH BHATT
• Section: 234B; 115JB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI N.R.S.GANESAN, JM AND B.R.BASKAR AN, AM I.T.A. NO. 318/COCH/2010 ASSESSMENT YEAR : 2006-07 M/S. MALABAR CEMENT LTD., WALAYAR P.O., PALAKKAD DISTRICT. [PAN: AABCM 5814C] THE ADDL. COMMISSIONER OF INCOME-TAX, PALAKKAD RANGE, PALAKKAD. (ASSESSEE -APPELLANT) (REVENUE- RESPONDENT) ASSESSEE BY SHRI RADHESH BHATT, CA REVENUE BY SHRI S.R. SENAPATI, SR. DR DATE OF HEARING 29/03/2012 DATE OF PRONOUNCEMENT 3/04/2012 O R D E R PER B.R.BASKARAN, ACCOUNTANT MEMBER: THE APPEAL OF THE AS IS DIRECTED AGAINST THE ORDER DATED22-02-2010 PASSED BY THE LD. CIT(A)-V, KOCHI AND IT RELATES TO THE ASSESSMEN T YEAR 2006-07. 2. THE ASSESSEE IS ASSAILING THE DECISION OF THE L D. CIT(A) IN HOLDING THAT THE INTEREST IS LEVIABLE U/S. 234B AND 234C OF THE ACT ON THE INCOME COMPUTED U/S. 115JB OF THE ACT 3. DURING THE COURSE OF THE HEARING, THE LD. COUNSE L FOR THE ASSESSEE FAIRLY ADMITTED THAT THE INSTANT ISSUE IS DECIDED AGAINST THE ASSES SEE BY HONBLE SUPREME COURT IN THE CASE OF JCIT VS. ROLTA INDIA LTD., 330 ITR 470 (SC ). ITA NO. 318/COCH/ 2010 2 4. IN VIEW OF THE ABOVE, WE DO NOT FIND ANY IN FIRMITY IN THE DECISION OF THE LD. CIT(A) 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED. PRONOUNCED ACCORDINGLY ON 03-04-2012 SD/- SD/- (N.R.S.GANESAN) (B.R.BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: KOCHI DATED: 3 RD APRIL, 2012 GJ COPY TO: 1 M/S. MALABAR CEMENT LTD., WALAYAR P.O., PALAKKAD DISTRICT. 2. THE ADDL. COMMISSIONER OF INCOME-TAX, PALAKKAD R ANGE, PALAKKAD... 3. THE COMMISSIONER OF INCOME-TAX (APPEALS)-V, KOCH I. 4. THE COMMISSIONER OF INCOME-TAX, TRICHRU. 5. D.R., I.T.A.T., COCHIN BENCH, COCHIN. 6. GUARD FILE . BY ORDER (ASSISTANT REGISTRAR) I.T.A.T, COCHIN ITA NO. 318/COCH/ 2010 3