The ACIT, Circle-4(1), Visakhapatnam V. M/s Steel City Securities Ltd., Visakhapatnam

ITA 449/VIZ/2010

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 2666 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-11-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 09-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T L PETER

Judgement Text

ITA 44 9/VIZ/2010 STEEL CITY SECURITIES LTD., VSKP IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NO. 449 /VIZAG/ 20 10 ASSESSMENT YEAR : 2007 - 08 ACIT CIRCLE - 4(1) VISAKHAPATNAM M/S. STEEL CITY SECURITIES LTD VISAKHAPATNAM (APPELLANT) VS. (RESPONDENT) PAN NO.AAECS 0970L APPELLANT BY: SHRI T.L. PETER, DR RESPONDENT BY: SHRI G.V.N. HARI, CA ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER : - THIS APPEAL BY THE RE VENUE IS PREFERRED AGAINST THE ORDER OF THE CIT(A) ON A SOLITARY GROUND THAT CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.52,09,824/ - INCURRED AS EXPENDITURE FOR BUSINESS PROMOTION. DURING THE COURSE OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE INVITED OUR ATTENTION THAT A.O. HAS MADE THE DISALLOWANCE OF THIS EXPENDITURE AFTER FOLLOWING HIS ORDER FOR THE ASSESSMENT YEAR 2006 - 07. THE CLAIM OF THE ASSESSEE WAS ALLOWED BY THE CIT(A) IN 2006 - 07 AND FOLLOWING THE SAME ORDER, THE CIT(A) HAS ALLOWED THE CLAIM IN THE IMPUGNED ASSESSMENT YEARS. THE ORDER OF THE CIT(A) FOR 2006 - 07 WAS CONFIRMED BY THE TRIBUNAL. SINCE THE ORDER FOLLOWED BY THE CIT(A) IN THE IMPUGNED ASSESSMENT YEAR IS FOR A.Y. 2006 - 07 WHICH HAS BEEN CONFIRMED BY THE TRIBUNAL, NO INFIRMITY IN THE ORDER OF THE CIT(A) FOR THE IMPUGNED ASSESSMENT YEAR CAN BE POINTED OUT. THE FACTUAL ASPECT WAS NOT DISPUTED BY THE REVENUE . C OPY OF THE ORDER OF TRIBUNAL FOR THE YEAR 200 5 - 0 6 IN WHICH TH E ORDER OF THE TRIBUNAL FOR 2006 - 07 WAS FOLLOWED , IS PLACED ON RE CORD. 2. WE HAVE CAREFULLY EXAMINED THE ORDER OF THE LOWER AUTHORITIES IN THE LIGHT OF THE ORDER OF THE TRIBUNAL AND WE FIND THAT LOWER AUTHORITIES HAVE FOLLOWED THEIR ORDERS FOR THE ASSESSMENT YEAR 2006 - 07 WHILE PASSING THE IMPUGNED ORDERS. THE ORDER OF THE CIT(A) FOR 2006 - 07 HAS BEEN CONFIRMED ITA 449/VIZ/2010 STEEL CITY SECURITIES LTD., VSKP 2 BY THE TRIBUNAL. THEREFORE, THE IMPUGNED ORDER PASSED BY THE CIT(A) FOLLOWING THE ORDER OF ITS PREDECESSOR FOR 2006 - 07 APPEARS TO BE CORRECT. SINCE NO INFIRMITY IS POINTED OUT IN TH E ORDER, WE CONFIRM THE SAME. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 11.11 .20 10 SD/ - SD/ - (BR BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 11 TH NOVEMBER , 20 10 COPY TO 1 ACIT, CIRCLE - 4(1), VISAKHAPATNAM 2 M/S. STEEL CITY SECURITIES LTD., 49 - 52 - 5/4, SHANTIPURAM, VISAKHAPATNAM 3 THE CIT, VISAKHAPATNAM 4 THE CIT(A), VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE . BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM