Bhartiya International Ltd, V. DCIT Circle 2 (1),

ITA 354/DEL/2007

• Counselvise Citation: [2011] 135 COUNSELVISE.COM (IT) 0531 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 01-02-2011
• Assessment Year: 2001-2002
• Appeal Filed On: 22-01-2007
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANUSHA KHURANA
• Assessee Lawyers: AMOL GOEL
• Keywords: Retrospective amendment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A NEW DELHI BEFORE SHRI R.P. TOLANI AND SHRI A.K. GARODIA ITA NO. 354/DEL/07 ASSTT. YRS: 2003-04 BHARTIYA INTERNATIONAL LTD., VS. DCIT CIR. 2(1), E-52, NEW MANGLA PURI, NEW DELHI. MANDI ROAD, NEW DELHI. PAN/ GIR NO. AAACB 0728M ( APPELLANT ) ( RESPONDENT ) APPELLANT BY : SHRI AMOL GOEL CA RESPONDENT BY : MS. ANUSHA KHURANA SR. DR O R D E R PER R.P. TOLANI, J.M : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A)-V, NEW DELHI DATED 27-9-2006 RELATING TO A.Y. 2003-04 . THE ASSESSEE HAS RAISED VARIOUS GROUNDS TO CHALLENGE THE COMPUTATION OF DEDUCTION U/S 80- HHC IN RESPECT OF PROFIT ON DEPB. 2. LEANED COUNSEL FOR THE ASSESSEE CONTENDS THAT AS SESSEE HAD CHALLENGED THE CONSTITUTIONAL VALIDITY OF TAXATION LAWS (AMEND MENT) ACT, 2005 (PARTICULARLY GIVING RETROSPECTIVE EFFECT TO THOSE PROVISIONS) IN A WRIT FILED BEFORE HONBLE DELHI HIGH COURT. THE HONBLE DELHI HIGH COURT VIDE ORDER DATED 20-9-2006 HAS PASSED ORDER WHEREBY THE RESPON DENTS (INCLUDING UNION OF INDIA) HAVE BEEN RESTRAINED FROM GIVING ANY RETR OSPECTIVE EFFECT TO THE PROVISIONS OF SECTION 3 & 4 OF TAXATION LAWS (AMEND MENT) ACT, 2005. HE SUBMITTED THAT A COPY OF ORDER HAS ALREADY BEEN PLA CED ON RECORD IN THE ITA 354/DEL/07 BHARTIYA INTERNATIONAL LTD. 2 EARLIER HEARING. HE PRAYED THAT HEARING OF APPEAL M AY BE ADJOURNED TILL FINAL DECISION BY THE HONBLE HIGH COURT. 3. BOTH THE PARTIES AGREED THAT THE ISSUE IN QUESTI ON MAY BE SET ASIDE, RESTORED BACK TO THE FILE OF AO TO DECIDE THE SAME IN ACCORDANCE WITH LAW. AFTER THE OUT COME ON THE WRIT PETITION FILED BY TH E ASSESSEE BEFORE THE HONBLE DELHI HIGH COURT. 4. IN VIEW OF ABOVE, WE SET ASIDE THE ORDERS OF AUT HORITIES BELOW ON THE ISSUE IN QUESTION AND RESTORE THE MATTER BACK TO TH E FILE OF AO TO DECIDE THE ISSUE IN QUESTION AFTER THE OUT COME ON THE WRIT PE TITION FILED BY THE ASSESSEE BEFORE THE HONBLE DELHI HIGH COURT, IN ACCORDANCE WITH LAW. WE ORDER ACCORDINGLY. 5. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES ONLY. ORDER PRONOUNCED IN OPEN COURT ON 01-02-2011. SD/- SD/- ( A.K. GARODIA ) ( R.P. TOLANI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 01-02-2011. MP COPY TO : 1. ASSESSEE 2. AO 3. CIT 4. CIT(A) 5. DR