M/s Calico Trends, Kanpur V. Dy. Commissioner of Income Tax-I, Kanpur

ITA 465/LKW/2013

• Counselvise Citation: 46523714 RSA 2013
• Duration Of Justice: 11 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-06-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 29-05-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 26-06-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ALOK MITRA
• Section: 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A , LUCKNOW BEFORE SHRI S UNIL KUMAR YADAV , JUDICIAL MEMBER AND SHRI. A. K. GARODIA , ACCOUNTANT MEMBER ITA NO. 465/LKW/2013 ASSESSMENT YEAR: 2009 - 10 M/S CALICO TRENDS 60A, 150, FEET ROAD, JAJMAU K ANPUR V. DCIT - I KANPUR PAN: AABFC1787H (APP ELL ANT) (RESPONDENT) APP ELL ANT BY: SHRI. RAKESH GARG, ADVOCATE RESPONDENT BY: SHRI. ALOK MITRA, D.R. DATE OF HEARING: 29 05 2014 DATE OF PRONOUNCEMENT: 10 0 6 2014 O R D E R PER SUNIL KUMAR YADAV: TH IS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) ON A SOLITARY GROUND THAT THE LD. CIT(A) HAS ERRED ON FACTS AND IN LAW IN UPHOLDING THE DISALLOWANCE OF DEDUCTION UNDER SECTION 80IB OF THE INCOME - TAX ACT, 1961 (HEREINAFTER CALLED IN SHORT THE ACT') AMOUNTING TO RS.2,42,44,270 (CORRECT FIGURE IS RS.1,54,89,530/ - AS PER ASSESSMENT ORDER). 2 . DURING THE COURSE OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE HAS CANDIDLY ADMITTED THAT THE IMPUGNED ISSUE IS SQUARELY COVERED BY THE JUDGMENT O F THE HON'BLE APEX COURT IN THE CASE OF LIBERTY INDIA VS. CIT [2009] 317 ITR 218 (SC), IN WHICH IT HAS BEEN HELD THAT DEDUCTION UNDER SECTION 80IB OF THE ACT ARE NOT ALLOWABLE ON THE DUTY DRAWBACK AND EXPORT INCENTIVES. IT WAS ALSO POINTED OUT THAT THE LD . CIT(A) HAS ADJUDICATED THE PRINT TO PDF WITHOUT THIS MESSAGE BY PURCHASING NOVAPDF ( HTTP://WWW.NOVAPDF.COM/ ) : - 2 - : ISSUE FOLLOWING THE JUDGMENT OF THE HON'BLE APEX COURT IN THE CASE OF LIBERTY INDIA VS. CIT (SUPRA). THEREFORE, WE FIND NO MERIT IN THIS APPEAL AND ACCORDINGLY WE CONFIRM THE ORDER OF THE LD. CIT(A) ON THIS ISSUE AND DISMISS T HE APPEAL OF THE ASSESSEE. 3 . IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 10.6.2014. SD/ - SD/ - [ A. K. GARODIA ] [ S UNIL KUMAR Y ADAV ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 10 TH JUNE , 2014 JJ: 2905 COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT(A) 4 . CIT 5 . DR ASSISTANT REGISTRAR PRINT TO PDF WITHOUT THIS MESSAGE BY PURCHASING NOVAPDF ( HTTP://WWW.NOVAPDF.COM/ )