Appeal details
Counselvise Citation
[2010] 135 COUNSELVISE.COM (IT) 3295 (ITAT-PUNE)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 year(s) 6 month(s) 7 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
08-10-2010
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
A
Assessment Year
2005-2006
Appeal Filed On
31-03-2009
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI I.C. SUDHIR AND SHRI D. KARUNAKARA RAO ITA NO. 391/PN/09 (ASSTT. YEAR 2005-06) INDIAN SEAMLESS ENTERPRISES LTD. CTS NO. 199, PLOT NO. 3, LUNKAD TOWERS, VIMAN NAGAR PUNE 411004 PAN NO. AAACI3891C .... APPELLANT VS. ADDL. CIT, RANGE-1 PUNE . RESPONDENT APPELLANT BY : SHRI KISHOR PHADKE RESPONDENT BY : SHRI ABHAY DAMLE ORDER PER D. KARUNAKARA RAO AM THIS IS AN APPEAL BY ASSESSEE AGAINST THE ORDER OF TH E CIT(A)-I, PUNE DATED 23/01/2009 FOR THE ASSESSMENT YEAR 2005-06. AT THE VERY OUTSET, LD. COUNSEL FOR THE ASSESSEE MENTIONED THAT THE ISSUE REV OLVES AROUND THE APPLICABILITY OF THE PROVISIONS OF SEC. 14A IN RESPE CT OF THE CLAIMS ON ACCOUNTS OF THE FINANCE EXPENSES AND THE INDIRECT EXPENSES. 2. FURTHER, HE MENTIONED THAT THE ISSUE HAS TO REFERRED TO THE FILES OF THE A.O FOR DECIDING THE ISSUE AFRESH IN THE LIGHT OF THE BOM BAY HIGH COURT JUDGMENT IN THE CASE OF GODREJ & BOYCE MANUFACTURING CO. LTD. VS. DCIT ITXA NO. 626/10 AND WRIT PETITION NO. 758/10. FURTHER, HE ALSO MENTIO NED THAT SAID THE HIGH COURT JUDGEMENT CONSIDERED THE SPECIAL BENCH DECISION S IN THE CASE OF DAGA CAPITAL MANAGEMENT PVT. LTD. [2009] 117 ITD 169 (MU M)(SB). CONSIDERING THE ABOVE SUBMISSIONS OF THE PARTIES, WE ARE OF THE OPINI ON THAT LD. DR HAS NO OBJECTION FOR SUCH REFERENCE IN THIS REGARD. HOWEVER, HE RELIED ON THE ORDERS OF ITA NO. 391/PN/09 A.Y: 2005-06 PAGE 2 OF 2 THE REVENUE. ACCORDINGLY, THE MATTER SHOULD BE SET AS IDE FOR EXAMINING THE ISSUE AFRESH IN THE LIGHT OF THE ABOVE REFERRED DECISIONS AFT ER GIVING REASONABLE OPPORTUNITY OF BEING HEARD. ACCORDINGLY, THE GROUNDS A RE SET ASIDE. 3. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 08 TH OCTOBER, 2010. SD/- SD/- (I.C. SUDHIR) (D.KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBE R PUNE DATED THE 08 TH OCTOBER, 2010 R COPY OF THE ORDER IS FORWARDED TO : 1. ASSESSEE 2. ADDL. CIT, RANGE 1, PUNE 3. CIT(A)-I, PUNE 4. CIT-I, PUNE 5. D.R. ITAT A BENCH BY ORDER ASSISTANT REGISTRAR I.T.A.T PUNE
