M/s. CONEX METALS (INDIA), MUMBAI V. ADDL. CIT Rg. - 13(1), MUMBAI

ITA 4743/MUM/2006

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 1598 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 2 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-11-2009
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2003-2004
• Appeal Filed On: 29-08-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: V C SHAH
• Keywords: Set aside
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: MUMBAI BEFORE SHRI R.K. GUPTA, JUDICIAL MEMBER AND SHRI T.R. SOOD, ACCOUNTANT MEMBER ITA NO 4743/MUM/2006 (ASSESSMENT YEAR: 2003-04) M/S CONEX METALS (INDIA), 2ND FLOOR, YUSUF BUILDING, 9, ABDUL REHMAN STREET, MUMBAI -400 003 PAN: AACFC 1274 A VS ADDL CIT 13(1), AAYAKAR BHAVAN, MUMBAI -400 020 APPELLANT RESPONDENT ASSESSEE BY: SHRI V C SHAH REVENUE BY: SHRI SANJEEV JAIN ORDER PER T.R. SOOD, ACCOUNTANT MEMBER IN THIS APPEAL VARIOUS GROUNDS HAVE BEEN RAISED BUT AT THE TIME OF HEARING THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT ONL Y DISPUTE INVOLVED IS REGARDING DEDUCTION U/S 80HHC ON DEPB LICENCES 2. AFTER HEARING BOTH THE PARTIES WE FIND THIS ISSU E HAS BEEN RECENTLY DECIDED BY THE SPECIAL BENCH OF THE TRIBUNAL IN CASE OF TOPMAN EXP ORTS VS ITO (318 ITR 87). THEREFORE, WE SET ASIDE THE ORDER OF THE LEARNED CIT (A) AND R EMIT THE MATTER BACK TO THE FILES OF THE ASSESSING OFFICER WITH THE DIRECTION TO DECIDE ISSUE OF DEDUCTION U/S 80HHC ON DEPB LICENCES IN THE LIGHT OF THE DECISION OF THE SPECIA L BENCH IN CASE OF TOPMAN EXPORTS (SUPRA). ITA 4743/M/2006 M/S CONEX METALS (INDIA) 2 3. IN THE RESULT, APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON 12TH DAY OF NOVEMBER 2009. SD/- (R.K. GUPTA) JUDICIAL MEMBER SD/- (T. R. SOOD) ACCOUNTANT MEMBER MUMBAI, DATE: 12TH NOVEMBER 2009 COPY TO:- 1) THE APPELLANT. 2) THE RESPONDENT. 3) THE CIT (A) XIII, MUMBAI. 4) THE CIT-13, MUMBAI. 5) THE D.R. C BENCH, ITAT, MUMBAI. BY ORDER / / TRUE COPY / / ASSTT. REGISTRAR CHAVAN* I.T.A.T., MUMBAI ITA 4743/M/2006 M/S CONEX METALS (INDIA) 3 SR.N. EPISODE OF AN ORDER DATE INITIALS CONCERNED 1 DRAFT DICTATED ON 12.11.09 SR.PS 2 DRAFT PLACED BEFORE AUTHOR 12.11.09 SR.PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.PS SR.PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS 7 FILE SENT TO THE BENCH CLERK SR.PS 8 DATE ON WHICH FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER