M/s. DRAUPDI BUILDERS & DEVELOPERS, Bhopal V. THE ACIT 1(2), Bhopal

ITA 514/IND/2014

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0408 (ITAT-INDORE)
• Duration Of Justice: 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-07-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 25-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Keywords: Question of law
• Section: 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, J.M. AND SHRI B.C.MEENA, A.M. I.T.A.NO.514/IND/2014 A.Y. : 2009-10 M/S.DRAUPADI BUILDERS & DEVELOPERS, ACIT, 1(2), BHOPAL VS. BHOPAL. APPELLANT RESPONDENT PAN NO. AAFFD0349A APPELLANT BY : NONE. RESPONDENT BY : SHRI R.A.VERMA, SR. DR DATE OF HEARING : 16 . 0 7 .201 5 DATE OF PRONOUNCEMENT : 16 . 0 7 .201 5 -: 2: - 2 O R D E R PER GARASIA, J.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A)-I, BHOPAL, DATED 23.05.2014 FOR THE ASSE SSMENT YEAR 2009-10. 2. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE I S A PARTNERSHIP FIRM ENGAGED IN THE BUSINESS OF CONSTRU CTION OF RESIDENTIAL HOUSING PROJECTS. THE ASSESSEE HAS FURN ISHED THE RETURN OF INCOME AFTER CLAIMING THE DEDUCTION U/S 8 0IB OF RS. 22,86,113/- AND THE AO HAS DISALLOWED THE CLAIM OF DEDUCTION U/S 80IB OF THE INCOME-TAX ACT, 1961. 3. THE MATTER CARRIED TO LD. CIT(A) AND THE LD. CIT(A) DISMISSED THE APPEAL OF THE ASSESSEE FOLLOWING THE DECISION OF THE TRIBUNAL IN ASSESSEES OWN CASE IN I.T.A.NOS. 7 1 & 72/IND/2011. 4. THE LD. AUTHORIZED REPRESENTATIVE HAS FILED A DECLARATION IN FORM NO.8 UNDER THE PROVISIONS OF SE CTION 158A(1) OF THE INCOME-TAX ACT, 1961, TO AVOID THE R EPETITIVE APPEAL ON THE GROUND THAT THE SUBSTANTIAL QUESTION OF LAW IS -: 3: - 3 ALREADY ADMITTED BY THE HON'BLE HIGH COURT. THEREFO RE, THIS APPEAL MAY BE ALLOWED AND FORM NO.8 MAY BE ACCEPTED AND THE MATTER MAY BE RESTORED TO THE AO. 5. THE LD. SENIOR D.R. HAS NO OBJECTION. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS RESTOR ED TO THE FILE OF AO AND THE AO IS DIRECTED TO TAKE THE D ECISION AS PER OUT COME OF THE APPEAL OF THE CASE OF DRAUPADI BUIL DERS & DEVELOPERS, WHICH IS PENDING BEFORE THE HON'BLE M.P .HIGH COURT IN I.T.A.NO.192/2012 PERTAINING TO ASSESSMENT YEAR 2008-09. 7. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 16 TH JULY, 2015. SD/- (B. C. MEENA) ACCOUNTANT MEMBER SD/- ( D.T.GARASIA) JUDICIAL MEMBER DATED : 16 TH JULY, 2015. CPU*