DCIT, Ernakulam V. Assyst International P.ltd, Aluva

ITA 451/COCH/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58236 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 6 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 31-01-2012
• Assessment Year: misc
• Appeal Filed On: 27-07-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAYAN NAIR

Judgement Text

1 ITA NO.451/COCH/2010 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI SANJAY AROR A (AM) I.T.A. NO. 451/COCH/2010 (ASSESSMENT YEAR 2007-08) DY.CIT, CIR.1(1) VS M/S ASSYST INTERNATIONAL (P) LTD ERNAKULAM II/138-D, SPRINT TECHNOPARK MUTTAM, THAIKKATTUKARA ALUVA 683 106 PAN : AADCA0592R (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VIJAYAN NAIR RESPONDENT BY : NONE DATE OF HEARING : 31-01-2012 DATE OF PRONOUNCEMENT : 02-02-2012 O R D E R PER N.R.S. GANESAN (JM) THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME-TAX(A)-II, KOCHI DATED 17-05-2010 AND PERTAI NS TO ASSESSMENT YEAR 2007-08. 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS ADDIT ION MADE WITH REGARD TO DEDUCTION U/S 10A OF THE ACT. 2 ITA NO.451/COCH/2010 3. NONE APPEARED FOR THE ASSESSEE IN SPITE OF ISSUE OF NOTICE. HOWEVER, THE ASSESSEE, THROUGH ITS REPRESENTATIVE HAS FILED WRIT TEN SUBMISSION. THEREFORE, WE PROCEEDED TO HEAR THE LD. DR AND DISPOSE OF THE APP EAL ON MERIT. 3. SHRI VIJAYAN NAIR, THE LD.DR SUBMITTED THAT THE ASSESSING OFFICER FOUND THAT DURING THE RELEVANT PERIOD, THE OWNERSHIP OF THE BE NEFICIAL INTEREST IN THE UNDERTAKING WAS TRANSFERRED FROM ONE OF THE DIRECTOR S WHO WAS THE SHAREHOLDER AT THE TIME OF INCORPORATION. A SIMILAR DISALLOWAN CE WAS ALSO MADE FOR THE ASSESSMENT YEAR 2001-02. EVEN THOUGH THIS TRIBUNAL DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE, THE REVENUE HAS FILED AN APPEAL BE FORE THE HIGH COURT AGAINST THE ORDER OF THIS TRIBUNAL. THEREFORE, THE ASSESSING O FFICER, FOR THE SAKE OF CONSISTENCY, HAS DISALLOWED THE CLAIM OF THE ASSESS EE. THE LD.DR VERY FAIRLY SUBMITTED THAT NOW THE HIGH COURT HAS DISMISSED THE DEPARTMENTAL APPEAL CONFIRMING THE ORDER OF THE TRIBUNAL, THEREFORE, TH E JUDGMENT OF THE HIGH COURT HAS TO BE FOLLOWED. 4. WE HAVE ALSO CAREFULLY GONE THROUGH THE WRITTEN SUBMISSION OF THE ASSESSEE AND THE JUDGMENT OF THE JURISDICTIONAL HIG H COURT CONFIRMING THE ORDER OF THIS TRIBUNAL FOR THE ASSESSMENT YEARS 2001-02 AN D 2002-03 ON THE VERY SAME ISSUE. APPARENTLY, THE DISALLOWANCE WAS MADE BY TH E ASSESSING OFFICER ON THE BASIS OF HIS DECISION FOR THE ASSESSMENT YEAR 2001-0 2. THE ISSUE OF DISALLOWANCE FOR THE ASSESSMENT YEAR 2001-02 WENT UPTO THE HIGH C OURT AND THE HIGH COURT HAS ULTIMATELY CONFIRMED THE ORDER OF THE TRIBUNAL WHERE THE DISALLOWANCE MADE BY THE ASSESSING OFFICER WAS DELETED. ADMITTEDLY, THE ISSUE ARISES FOR CONSIDERATION IS SAME AS IT WAS DECIDED BY THE HIGH COURT FOR THE ASSESSMENT YEARS 2001-02 AND 2002-03. IN FACT, THE COMMISSIONER OF INCOME-TAX(A) HAS ALSO FOLLOWED THE ORDER OF THIS TRIBUNAL FOR THE ASSESSM ENT YEAR 2001-02. SINCE THE 3 ITA NO.451/COCH/2010 MATTER HAS ALREADY BEEN DECIDED BY THIS TRIBUNAL FO R THE EARLIER YEARS IN THE CASE OF THE VERY SAME ASSESSEE AND HIGH COURT ALSO CONFI RMED THE ORDER OF THE TRIBUNAL, WE FIND NO INFIRMITY IN THE ORDER OF THE COMMISSIONER OF INCOME-TAX(A). THEREFORE, THE SAME IS CONFIRMED. 5. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 02 ND DAY OF FEBRUARY, 2012. SD/- SD/- (SANJAY ARORA) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 02 ND FEBRUARY, 2012 PK/- COPY TO: 1. DY.CIT, CIR.1(1), ERNAKULAM 2. THE ASSIST INTERNATIONAL P LTD, II/138-D, SPRINT TE CHNOPARK, MUTTAM, THAIKKATTUKARA, ALUVA 683 106 3. THE COMMISSIONER OF INCOME-TAX(A)-II, KOCHI 4. THE COMMISSIONER OF INCOME-TAX, KOCHI 5. THE DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH