M/s Visakhapatnam Port Trust, Visakhapatnam V. The Ad CIT, Range-1., Visakhapatnam

ITA 359/VIZ/2008

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 50308 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 3 year(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-07-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 05-04-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 27-06-2008
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T L PETER
• Section: 12A; 263; 12; 11

Judgement Text

ITA NO.541 OF 05 & 359 OF 08 VPT, VSKP 1 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NO. 541 /VIZAG/ 20 05 ASSESSMENT YEAR : 2003 - 04 VISAKHAPATNAM PORT TRUST VISAKHAPATNAM VS. ACIT CIRCLE - 1(1) VISAKHAPATNAM (APPELLANT) (RESPONDENT) PAN NO.AAALV 0035C ITA NO.359/VIZAG/2008 ASSESSMENT YEAR : 2005 - 06 VISAKHAPATNAM PORT TRUST VISAKHAPATNAM VS. ADDL. CIT, RANGE - 1 VISAKHAPATNAM (APPELLANT) (RESPOND ENT) APPELLANT BY: SHRI G.V.N. HARI, CA RESPONDENT BY: SHRI T.L. PETER, CIT(DR) ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER:- THESE APPEALS ARE PREFERRED BY THE ASSESSEE AGAIN ST THE RESPECTIVE ORDERS OF THE CIT(A) ON VARIOUS GROUNDS. DURING TH E COURSE OF HEARING OF THE APPEAL, THE LD. COUNSEL FOR THE ASSESSEES HAS MOVED AN APPLICATION STATING THEREIN AS UNDER: ITA NO.541/V/2005: (A.Y. 2003-04): IN THIS APPEAL, THERE ARE THREE ISSUES CONTESTED I N THE GROUNDS OF APPEAL ORIGINALLY FILED ALONG WITH FORM NO.36. LATER, THE APPELLANT PREFERRED ADDITIONAL GROUND THAT THE INCO ME HAS TO BE RECOMPUTED ON THE BASIS OF EXEMPTION U/S 11 & 12 AV AILABLE AS PER 12A REGISTRATION GRANTED SUBSEQUENT TO THE ORDERS O F THE LOWER AUTHORITIES. AS PER THE DIRECTIONS OF THE HONBLE ITAT, THE APPELLANT MOVED THE COD FOR APPROVAL OF THIS ADDITIONAL GROUN D. HOWEVER, WHILE CONSIDERING THIS ADDITIONAL GROUND THE COD OP INED THAT WITH REGARD TO THE ISSUE RELATING TO EXEMPTION U/S 11 TH E APPELLANT HAS TO APPROACH THE COMMISSIONER OF INCOME TAX FOR ISSU ING APPROPRIATE DIRECTIONS TO THE ASSESSING OFFICER. A CCORDINGLY, THE APPELLANT APPROACHED THE LEARNED CIT AND HE WAS PLE ASED TO DIRECT THE ASSESSING OFFICER TO GRANT EXEMPTION U/S 11 FOR THE A.Y. 2003- 04, VIDE HIS ORDER DATED 5 TH MAY, 2011 (COPY SUBMITTED IN THE COURSE OF APPEAL HEARING). THUS, THE RELIEF SOUGHT BEFORE THE HONBLE ITAT VIDE THE ORIGINAL GROUNDS OF APPEAL AN D ALSO THE ITA NO.541 OF 05 & 359 OF 08 VPT, VSKP 2 ADDITIONAL GROUND OF APPEAL HAS BEEN APPROVED IN FA VOUR OF THE APPELLANT VIDE THE ABOVE MENTIONED ORDER DATED 5 TH MAY, 2011 OF THE LEARNED CIT. THEREFORE, IT IS SUBMITTED THAT T HE ABOVE MENTIONED APPEAL FOR A.Y. 2003-04 MAY KINDLY BE DIS POSED OFF, BY PASSING APPROPRIATE ORDERS IN THE LIGHT OF THESE SU BMISSIONS. ITA NO.359/V/2008: (A.Y. 2005-06): IN THIS QUANTUM APPEAL, THE APPELLANT HAS RAISED G ROUNDS OF APPEAL CONTESTING PER SE THE ADDITIONS MADE BY THE ASSESSING OFFICER AND ALSO SEEKING RE-COMPUTATION OF THE INCO ME BY GRANTING EXEMPTION U/S 11 OF THE ACT AS THE APPELLANT WAS GR ANTED REGISTRATION U/S 12A SUBSEQUENT TO THE ORDER OF THE ASSESSING OFFICER. THE COD ACCORDED ITS SANCTION TO THIS ALT ERNATIVE PLEA MADE BY THE APPELLANT. WHILE THE MATTER IS PENDING BEFORE THE HONBLE ITAT, THE LEARNED COMMISSIONER OF INCOME TA X VIDE HIS ORDER U/S 263 DATED 2.4.2009 SOUGHT TO REVISE THE A SSESSMENT BY THE ASSESSING OFFICER. WHILE CONTESTING THE ACTION OF THE LEARNED COMMISSIONER OF INCOME TAX, THE APPELLANT TOOK THE GROUND THAT THE INCOME OF THE APPELLANT IS EXEMPT U/S 11 CONSEQ UENT TO REGISTRATION U/S 12A GRANTED ON 20.3.2008 WITH RETR OSPECTIVE EFFECT FROM A.Y. 2003-04. THE COD WHILE CONSIDERING THE A PPROVAL OF THIS APPEAL OPINED THAT WITH REGARD TO THE ISSUE RELATIN G TO EXEMPTION U/S 11 THE APPELLANT HAS TO APPROACH THE COMMISSION ER OF INCOME TAX FOR ISSUING APPROPRIATE DIRECTIONS TO THE ASSES SING OFFICER. ACCORDINGLY, THE APPELLANT APPROACHED THE LEARNED C IT AND HE WAS PLEASED TO DIRECT THE ASSESSING OFFICER TO GRANT EX EMPTION U/S 11 FOR THE A.Y. 2005-06, VIDE HIS ORDER DATED 5 TH MAY, 2011 (COPY SUBMITTED IN THE COURSE OF APPEAL HEARING). THUS, THE RELIEF SOUGHT BEFORE THE HONBLE ITAT VIDE ITA NO.359/V/2008 HAS BEEN APPROVED IN FAVOUR OF THE APPELLANT VIDE THE ABOVE MENTIONED ORDER DATED 5 TH MAY, 2011 OF THE LEARNED CIT. THEREFORE, IT IS SUBMITTED THAT THE ABOVE MENTIONED APPEAL FOR A.Y. 2005-06 MAY KINDLY BE DISPOSED OFF, BY PASSING APPROPRIATE ORDE RS IN THE LIGHT OF THESE SUBMISSIONS. THE LD. COUNSEL FOR THE ASSESSEE HAS ALSO REQUESTE D THAT IN THE LIGHT OF THESE FACTS, BOTH THESE APPEALS HAVE BECOME INFRUCT UOUS. THE CONTENTIONS OF THE ASSESSEES ARE NOT DISPUTED BY THE REVENUE. THE REFORE, THESE APPEALS OF THE ASSESSEES ARE DISMISSED BEING INFRUCTUOUS. PRONOUNCED IN THE OPEN COURT ON 4.7.2011 SD/- SD/- (BR BASKARAN) (SUNIL KUMAR YADAV) A CCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 4 TH JULY, 2011 ITA NO.541 OF 05 & 359 OF 08 VPT, VSKP 3 COPY TO 1 VISAKHAPATNAM PORT TRUST, PORT AREA, VISAKHAPATNAM - 530 035 2 THE ACIT, CIRCLE - 1(1), VISAKHAPATNAM 3 THE ADDL. CIT, RANGE - 1, VISAKHAPATNAM 3 THE CI T, VI S AKHAPATNAM 4 THE CIT (A) - I, VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM