M/s. Sameer E-Clipse(Products) P.Ltd., Baroda V. Income Tax Officer, Ward-4(3), Baroda

ITA 3495/AHD/2014

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8568 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-04-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 30-12-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI S. S. GODARA, JUDICIAL MEMBER) ITA. NO: 3495/AHD/2014 (ASSESSMENT YEAR: 2011-12) M/S. SAMEER E- CLIPSE (PRODUCTS) PVT. LTD. 903/10, GIDC INDL. ESTATE MAKARPURA BARODA- 390010 V/S INCOME TAX OFFICER, WARD- 4 (3), BARODA (APPELLANT) (RESPONDENT) PAN: AAGCS 7973R APPELLANT BY : NONE RESPONDENT BY : SHRI MUDIT NAGPAL, SR. D.R. ( )/ ORDER DATE OF HEARING : 02 -04-201 8 DATE OF PRONOUNCEMENT : 04 -04-2018 PER N.K. BILLAIYA, ACCOUNTANT MEMBER 1. THIS APPEAL BY THE ASSESSEE IS PREFERRED AGAINST TH E ORDER OF THE LD. CIT(A)- III, BARODA DATED 07.10.2014 PERTAINING TO A.Y. 201 1-12. ITA NO. 3495 /AHD/2014 . A.Y. 2011-1 2 2 2. THE SUBSTANTIVE GRIEVANCE OF THE ASSESSEE IS THAT T HE LD. CIT(A) ERRED IN CONFIRMING THE ACTION OF THE A.O. IN NOT ALLOWING D EDUCTION OF LIQUIDATED DAMAGES AMOUNTING TO RS. 12.58 LACS U/S. 10B OF THE ACT. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE. OUR RECORD SHOWS THAT ON PREVIOUS FOUR OCCASIONS, THE APPEAL WAS ADJOURNED ON REQUEST OF THE ASSESSEE AND ON 16.01.2016, THE ASSESSEE WAS AWARE OF THE DATE OF H EARING ON 02.04.2018. WE HEARD THE LD. D.R. AT LENGTH. 4. WE HAVE CAREFULLY PERUSED THE ORDERS OF THE AUTHORI TIES BELOW. 5. THE ASSESSEE IS MANUFACTURER AND EXPORTER OF ALUMIN UM BLINDS. ON PERUSAL OF THE PROFIT AND LOSS ACCOUNT, THE A.O. NOTICED THAT THE ASSESSEE HAS CLAIMED DEDUCTION U/S. 10B OF THE ACT AND FOUND THAT THE AS SESSEE HAS CLAIMED DEDUCTION U/S. 10B ON COMPENSATION OF RS. 12,58,200 /-BEING LIQUIDATED DAMAGES RECEIVED BY THE ASSESSEE. THE A.O. NOTICED THAT THE ASSESSEE HAS CONSIDERED THE AMOUNT OF COMPENSATION AS PART OF EX PORT TURNOVER AND PART OF TOTAL TURNOVER FOR THE PURPOSES OF COMPUTING DEDUCT ION U/S. 10B OF THE ACT. THE A.O. DENIED THE CLAIM OF THE ASSESSEE AND DID N OT ALLOW DEDUCTION OF LIQUIDATED DAMAGES AMOUNTING TO RS. 12.58 LACS U/S. 10B OF THE ACT. 6. ASSESSEE CARRIED THE MATTER BEFORE THE LD. CIT(A) A ND REITERATED ITS CLAIM OF DEDUCTION. THE LD. CIT(A) FOUND THAT IN ASSESSEES OWN CASE FOR A.Y. 2008-09, HIS PREDECESSOR HAS DENIED THE CLAIM OF DEDUCTION V IDE ORDER DATED 30.12.2012 IN APPEAL NO. CAB/III-167/2010-11. FOLLOWING THE OR DER FOR A.Y. 2008-09, THE LD. CIT(A) CONFIRMED THE DISALLOWANCE OF DEDUCT ION U/S. 10B OF THE ACT. ITA NO. 3495 /AHD/2014 . A.Y. 2011-1 2 3 7. BEFORE US, THE LD. D.R. POINTED OUT THAT THE TRIBUN AL HAS CONFIRMED THE ORDER OF THE LD. CIT(A) IN ITA NO. 506/AHD/2013. WE FIND THAT THE ASSESSEE HAD PREFERRED A MISCELLANEOUS APPLICATION BEFORE THE TR IBUNAL BUT THE APPLICATION OF THE ASSESSEE WAS DISMISSED BY THE TRIBUNAL VIDE ORD ER DATED 10.04.2017 IN M.A. NO. 161/AHD/2016. 8. SINCE THE FIRST APPELLATE AUTHORITY HAS DISMISSED T HE CLAIM OF DEDUCTION IN A.Y. 2008-09 AND THE ORDER OF THE LD. CIT(A) WAS CO NFIRMED BY THE TRIBUNAL, WE DO NOT FIND ANY REASON TO INTERFERE WITH THE FIN DINGS OF THE LD. CIT(A). APPEAL FILED BY THE ASSESSEE IS ACCORDINGLY DISMISS ED. ORDER PRONOUNCED IN OPEN COURT ON 04 - 04- 20 18 SD/- SD/- (S. S. GODARA) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY ACCOUNTANT MEMBER AHMEDABAD: DATED 04/04/2018 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD