ACIT 12(1), MUMBAI V. PRESTRESS WIRE INDUSTRIES, MUMBAI

ITA 4137/MUM/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7226 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2001-2002
• Appeal Filed On: 06-07-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJIT KUMAR SINHA
• Assessee Lawyers: S N INAMDAR ITA; CO M
• Section: 80IB

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL MUMBAI BENCH C BEFORE SHRI D. MANMOHAN, HONBLE VICE PRESIDENT AND SHRI A.L. GEHLOT, ACCOUNTANT MEMBER I.T.A.NO. 4137/MUM/2009 (ASSESSMENT YEAR: 2001-02) ASST.COMMR. OF INCOME-TAX -12(1), M/S. PRESTRESS WIRE INDUSTRIES, ROOM NO.117, AAYKAR BHAVAN, VS. 303, ELPHINSTONE HOUSES, M.K. RD.,MUMBAI-400 020. 17, MURZBAN RD., FORT, MUMBAI-400 001 . PAN: AAAFP580 7C (APPELLANT) (RESPONDENT) C. O. NO. 10/MUM/2010 (ARISING OUT OF IT A NO. 4137/MUM/2009) (A SSESSMENT YEAR: 2001-02) M/S. PRESTRESS WIRE INDUSTRIES, ASST.COMMR. OF INCOME-TAX 303, ELPHINSTONE HOUSES, -12(1), R.NO.117, AAYKAR 17, MURZBAN RD, FORT, VS . BHAVAN, M.K.ROAD, MUMBAI-400 001. MUMBAI-400 020 PAN: AAAFP5807C (RESPONDENT) (CROSS OBJECTOR) I.T. A. NO.4138/MUM/2009 (ASSE SSMENT YEAR : 2006-07) ASST.COMMR. OF INCOME-TAX, M/S.PRESTRESS WIRE INDUSTRI ES, -12(1), R.NO.117, AAYKAR 303, ELPHINSTONE HOUSES, BHAVAN, M.K.ROAD, 17, MURZBAN RD., FORT, MUMBAI-400 020. MUMBAI-400 001. (APPELLANT) PAN:AAAFP5807C (RESPO NDENT) DEPARTMENT BY : SHRI AJIT KUMAR SINHA. ASSESSEE BY : SHRI S.N. INAMDAR. 2 ITA 4137-4138 & CO 10/M/09 O R D E R PER BENCH : THESE APPEALS WERE FILED AT THE INSTANCE OF THE REV ENUE AND CROSS OBJECTION WAS FILED AT THE INSTANCE OF THE ASSESSEE COMPANY, IN S O FAR AS ASSESSMENT YEAR 2001-02 IS CONCERNED, CHALLENGING THE RE-OPENING OF ASSESSMENT . THE ONLY ISSUE URGED BY THE REVENUE IS WITH REGARD TO ENTITLEMENT OF DEDUCTION UNDER SEC. 80IB OF THE ACT. 2. AT THE TIME OF HEARING, THE LEARNED COUNSEL APPE ARING ON BEHALF OF THE ASSESSEE PLACED BEFORE US A COPY OF THE ORDER OF ITAT , C BENCH, IN THE ASSESSEES OWN CASE FOR ASSESSMENT YEARS 2004-05 AND 2005-06 (ITA NOS. 4451 & 4452/MUM/08 ) DATED 20-11- 2009 WHEREIN IDENTICAL ISSUE WAS DECIDED IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE. HOWEVER, THE LD. DEPARTMENTAL REPRESENTAT IVE STRONGLY RELIED UPON THE ORDER PASSED BY THE A.O. 3. WE HAVE CAREFULLY CONSIDERED THE RIVAL SUBMISSIO NS AND PERUSED THE RECORDS. SINCE IDENTICAL ISSUE WAS DECIDED BY THE ITAT IN TH E ASSESSEES OWN CASE FOR THE EARLIER YEARS, WE DO NOT FIND ANY INFIRMITY IN THE ORDER PA SSED BY THE LD. CIT(A) SINCE IT IS IN CONSONANCE WITH THE ORDER OF THE ITAT (SUPRA). UNDE R THE CIRCUMSTANCES, THE APPEALS FILED BY THE REVENUE ARE HEREBY DISMISSED. 4. THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT PR ESS THE CROSS OBJECTION. THEREFORE, THE SAME IS DISMISSED AS NOT PRESSED. 3 ITA 4137-4138 & CO 10/M/09 ORDER PRONOUNCED ON THE 23RD DAY OF MARCH, 2010 . SD/- SD/- (A.L. GEHLOT) (D. MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATED 23RD MARCH,2010. NG: COPY TO : 1.DEPARTMENT. 2.ASSESSEE. 3. CIT(A),XII,MUMBAI. 4.CIT-XII, MUMBAI. 5.DR, CIT(A)-BENCH, MUMBAI. 6. GUARD FILE (TRUE COPY) BY OR DER, ASSTT. REGISTRAR. ITAT, MUMBAI BENCHES, MUMBAI. 4 ITA 4137-4138 & CO 10/M/09