M/s. Shree Narayan Associates, Baroda V. The Income tax Officer,Ward-5(1), Baroda

ITA 491/AHD/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 72882 (ITAT-AHMEDABAD)
• Duration Of Justice: 10 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-01-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 07-01-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 25-02-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: O P BATHEJA
• Assessee Lawyers: M J SHAH

Judgement Text

, , , , , , , , IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH A BENCH, AHMEDABAD .., ! ! ! ! ' #$, BEFORE SHRI N.S. SAINI, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER !./ I.T.A. NO.491/AHD/2013 ( & '& & '& & '& & '& / / / / ASSESSMENT YEAR : 2008-09) M/S.SHREE NARAYAN ASSOCIATES SGHIVAM, NR.VASUNDHARA SOCIETY WAGHODIA ROAD BARODA / VS. THE ITO WARD-5(1) BARODA ( !./)* !./ PAN/GIR NO. :ABBFS 2999 G ( (+ / // / APPELLANT ) .. ( ,-(+ / RESPONDENT ) (+ . / APPELLANT BY : SHRI M.J.SHAH, A.R. ,-(+ / . / RESPONDENT BY : SHRI O.P.BATHEJA, SR.DR ' 0 / $1 / / / / DATE OF HEARING : 07/01/2014 23' / $1 / DATE OF PRONOUNCEMENT : 17/01/2014 4 / O R D E R PER SHRI KUL BHARAT, JUDICIAL MEMBER : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER OF THE LD.COMMISSIONER OF INCOME TAX(APPEALS)-V, BARODA C IT(A) FOR SHORT) DATED 06/11/2012 PERTAINING TO ASSESSMENT Y EAR (AY) 2008-09. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF A PPEAL:- 1. LEARNED ASSESSING OFFICER ERRED IN DISALLOWING OUR CLAIM OF DEDUCTION U/S.80IB(10) OF ` .1680703.00. SHE OUGHT TO HAVE ALLOWED THE SAME BASED ON THE FACTS OF THE CASE. YOUR HONOUR PETITIONER CRAVES LEAVE TO ADD, ALTER O R AMEND ALL OR ANY OF THE GROUNDS OF APPEAL AT OR BEFORE FINAL HEARING OF THE APPEAL. ITA NO.491/AHD/ 2013 M/S.SHREE NARAYAN ASSOCIATES VS. ITO ASST.YEAR 2008-09 - 2 - 2. BRIEFLY STATED FACTS ARE THAT THE CASE OF THE A SSESSEE WAS PICKED UP FOR SCRUTINY ASSESSMENT AND THE ASSESSMENT U/S.143( 3) OF THE INCOME TAX ACT,1961 (HEREINAFTER REFERRED TO AS THE ACT) WAS FRAMED VIDE ORDER DATED 30/11/2010, THEREBY THE ASSESSING OFFICER(AO) REJECTED THE CLAI M OF THE ASSESSEE MADE U/S.80-IB(10) OF THE ACT. AG AINST THIS, THE ASSESSEE FILED AN APPEAL BEFORE THE LD.CIT(A) WHO ALSO DID N OT ACCEPT THE EXPLANATION GIVEN BY THE ASSESSEE AND CONFIRMED THE ASSESSMENT ORDER. THE ASSESSEE IS IN FURTHER APPEAL BEFORE THE TRIBUN AL BY WAY OF PRESENT APPEAL. 2.1. THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS BEEN DENIED THE CLAIM, HOWEVER, THE CLAIM WAS ALLOW ED IN THE AY 2006- 07, WHEREIN THE ASSESSMENT WAS FRAMED IN PURSUANCE TO THE DIRECTION GIVEN BY THE HONBLE ITAT AHMEDABAD IN ITA NO.3176/ AHD/2009. HE SUBMITTED THAT IN THE ASSESSMENT ORDER, THE AO OBSE RVED THAT HE HAS VERIFIED ALL THE TERMS AND CONDITIONS OF THE CONTRA CT AND CAME TO THE CONCLUSION THAT THE CLAIM IS ALLOWABLE IN VIEW OF T HE DECISION OF THE HONBLE ITAT RENDERED IN THE CASE OF ITO & OTHERS V S. SHAKTI CORPORATION, BARODA & OTHERS IN ITA NO.1503/AHD/200 8, DATED 07/11/2008. HE FURTHER SUBMITTED THAT THE ISSUE HA S ALREADY BEEN DECIDED IN FAVOUR OF THE ASSESSEE BY THE HONBLE GUJARAT HI GH COURT IN TAX APPEAL NO.1353 OF 2011 IN ASSESSEES OWN CASE. HE HAS PLACED THE JUDGEMENT OF THE HONBLE HIGH COURT ON RECORD. 3. ON THE CONTRARY, SR.DR SUPPORTED THE ORDERS OF THE AUTHORITIES BELOW AND SUBMITTED THAT EVERY ASSESSMENT YEAR IS AN INDEPENDENT YEAR. ITA NO.491/AHD/ 2013 M/S.SHREE NARAYAN ASSOCIATES VS. ITO ASST.YEAR 2008-09 - 3 - IT HAS BEEN OBSERVED BY THE AUTHORITIES BELOW THAT THE ASSESSEE HAS EXECUTED SALE-DEED AND SUBSEQUENTLY ENTERED INTO A SEPARATE AGREEMENT. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS, PERUSED T HE MATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHOR ITIES BELOW. WE FIND THAT THE FACTS IN THE PRESENT CASE ARE IDENTICAL TH AT WERE BEFORE THE HONBLE JURISDICTIONAL HIGH COURT IN TAX APPEAL NO .1353 OF 2011. THE UNDISPUTED FACT REMAINS THAT THE PROJECT IS SAME AN D THE HONBLE JURISDICTIONAL HIGH COURT HAS DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE. SINCE THE HONBLE JURISDICTIONAL HIGH COURT HAS DEC IDED THE ISSUE IN FAVOUR OF ASSESSEE, THE REVENUE HAS NOT POINTED OUT ANY CHANGE IN THE FACTS AS WERE IN THE AY 2005-06. THEREFORE, RESPEC TFULLY FOLLOWING THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT R ENDERED IN ASSESSEES OWN CASE IN TAX APPEAL NO.1353 OF 2011 DATED 11/01/ 2012. THUS, THIS GROUND OF ASSESSEES APPEAL IS ALLOWED. THE ORDER OF THE LD.CIT(A) IS SET ASIDE AND THE AO IS HEREBY DIRECTED TO ALLOW THE C LAIM OF DEDUCTION U/S.80-IB(10) OF THE ACT AS MADE BY THE ASSESSEE AN D DELETE THE ADDITION OF RS.16,80,703.00. 5. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN COURT ON THE DATE MENTIONED HER EINABOVE AT CAPTION PAGE SD/- SD/ - ( .. ) (' #$) ( N.S. SAINI ) ( KUL BHARAT ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 17/01/2014 71.., .../ T.C. NAIR, SR. PS ITA NO.491/AHD/ 2013 M/S.SHREE NARAYAN ASSOCIATES VS. ITO ASST.YEAR 2008-09 - 4 - 4 / ,$8 98'$ 4 / ,$8 98'$ 4 / ,$8 98'$ 4 / ,$8 98'$/ COPY OF THE ORDER FORWARDED TO : 1. (+ / THE APPELLANT 2. ,-(+ / THE RESPONDENT. 3. !! $ ': / CONCERNED CIT 4. ':() / THE CIT(A)-V, BARODA 5. 8 #; ,$ , , / DR, ITAT, AHMEDABAD 6. ;<& =0 / GUARD FILE. 4' 4' 4' 4' / BY ORDER, -8$ ,$ //TRUE COPY// > >> >/ // / !) !) !) !) ( DY./ASSTT.REGISTRAR) , , , , / ITAT, AHMEDABAD 1. DATE OF DICTATION .. 08/01/2014(DICTATION-PAD 5 PAGES ATTACHED AT THE END OF THIS FILE) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 15.1.14 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 5. DATE ON WHICH FAIR ORDER PLACED BEFORE OTHER MEMBER 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.17.1.14 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 17.1.14 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER