DCIT, Coimbatore V. Indo Shell Cast Pvt. Ltd., Coimbatore

ITA 457/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 90272 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2015
• Appeal Filed By: Department
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 06-03-2015
• Court: TRIBUNAL
• Department Lawyers: DR NISCHAL
• Assessee Lawyers: G BASKAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI , . !' , # $% BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI V. DURGA RAO, JUDICIAL MEMBER ./ ITA NO. 457/MDS/2015 / ASSESSMENT YEAR : 2010-11 THE DEPUTY COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE-I(1), COIMBATORE-18 APPELLANT) V. M/S. INDO SHELL CAST PVT. LTD., A-14, SIDCO INDUSTRIAL ESTATE, KURICHI, COIMBATORE 641 021. PAN AAACI4299N RESPONDENT) / APPELLANT BY : DR. NISCHAL, JCIT / RESPONDENT BY : SHRI G. BASKAR, ADVOCATE ! / DATE OF HEARING : 07.04.2015 '# ! / DATE OF PRONOUNCEMENT: 07.04.2015 & / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL BY THE REVENUE IS DIRECTED AGA INST THE ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS) DA TED 29.12.2014. - - ITA 457/15 2 2. THE GRIEVANCE OF THE REVENUE IN THIS APPEAL IS W ITH REGARD TO GRANTING OF DEDUCTION UNDER SEC.80IA OF T HE I.T. ACT, 1961 IN RESPECT OF PROFIT DERIVED FROM WINDMILLS. 3. AFTER HEARING BOTH THE PARTIES, WE FIND THAT THE ISSUE IN DISPUTE IS SQUARELY COVERED IN FAVOUR OF THE ASSESS EE BY THE JUDGMENT OF THE JURISDICTIONAL HIGH COURT IN THE CA SE OF VELAYUDHASWAMY SPINNING MILLS (P) LTD. VS. ACIT (34 0 ITR 477), WHEREIN IT WAS HELD THAT THE PROFIT DERIVED FROM WI NDMILLS IS ENTITLED FOR DEDUCTION UNDER SEC.80IA OF THE ACT. RESPECTFULLY FOLLOWING THE ABOVE JUDGMENT OF THE JURISDICTIONAL HIGH COURT, WE ARE INCLINED TO CONFIRM THE ORDER OF THE COMMISSION ER OF INCOME- TAX(APPEALS) ON THIS ISSUE. ACCORDINGLY, THE REVEN UES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON TUESDAY, THE 7 TH OF APRIL, 2015 AT CHENNAI. SD/- SD/- ( . $ % ) ( & ' ( ) ) *+,-./01023 45067.082290.:3 ; $< /JUDICIAL MEMBER ! $<=>>2-6?06?@ABCA. &; /CHENNAI, D$ /DATED, THE 7 TH APRIL, 2015. MPO* - - ITA 457/15 3 $E FGHG /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. I3 /CIT(A) 4. I /CIT 5. GJ% K /DR 6. %LM /GF.