ACIT CENT. CIR. 17 &28, MUMBAI V. M/s. J.B. BODA & CO. P. LTD., MUMBAI

ITA 6408/MUM/2005

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 8478 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-02-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: J
• Next Hearing Date: 17-02-2011
• Assessment Year: 1992-1993
• Appeal Filed On: 31-10-2005
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K SINGH
• Assessee Lawyers: MRS INDRA G ANAND

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, J, MUMBAI BEFORE SHRI R V EASWAR, PRESIDENT AND SHRI B RAMAKOTAIAH, ACCOUNTANT MEMBER I T A NO: 6408/MUM/2005 (ASSESSMENT YEAR: 1992-93) ASSISTANT COMMISSIONER OF INCOME TAX APPELLANT CENTRAL CIRCLE 17 & 28, MUMBAI VS M/S J B BODA & CO. PVT. LTD., MUMBAI RESPONDENT (PAN: AAACJ2289F) APPELLANT BY: MR K SINGH RESPONDENT BY: MRS INDRA G ANAND O R D E R R V EASWAR, PRESIDENT: THIS APPEAL WAS ORIGINALLY DISPOSED OF BY THE TRIB UNAL BY ORDER DATED 31.10.2008. THEREAFTER BY ORDER DATED 09.07.2009, IN MISCELLANEOUS APPLICATION NO: 225/MUM/2009 FILED BY THE REVENUE, THE TRIBUNAL DIRECTED THE APPEAL TO BE POSTED AGAIN BUT ONLY FOR THE PURPOSE OF DECIDING GROUND NO.2, WHICH HAD MISSED T HE ATTENTION OF THE TRIBUNAL WHEN THE APPEAL WAS DISPOSED OF ORI GINALLY. THAT IS HOW THE MATTER IS BEFORE US. 2. GROUND NO.2 IS THAT ON THE FACTS AND CIRCUMSTANC ES OF THE CASE, THE CIT(A) ERRED IN DIRECTING THE ASSESSING O FFICER TO ALLOW DEDUCTION OF ` 1,29,41,830/- UNDER SECTION 80-O OF THE INCOME TAX ACT, 1961, DISREGARDING THE PROVISIONS OF SECTION 8 0AB, AS AGAINST ` 69,70,127/- ALLOWED BY THE ASSESSING OFFICER. 3. AT THE TIME OF THE HEARING THE LEARNED REPRESENT ATIVE FOR THE ASSESSEE DREW OUR ATTENTION TO THE JUDGMENT OF THE BOMBAY HIGH ITA NO: 6408/MUM/2005 2 COURT DATED 18.10.2010 IN INCOME TAX APPEAL NO. 322 4 OF 2009, RENDERED IN THE ASSESSEES OWN CASE. A COPY OF THE SAID JUDGMENT WAS FILED AND IT WAS SUBMITTED THAT THE GROUND IS C OVERED IN FAVOUR OF THE ASSESSEE BY THE AFORESAID JUDGMENT. WE HAVE CAREFULLY GONE THROUGH THE SAME. THE LEARNED DEPARTMENTAL REPRESE NTATIVE ALSO AGREES THAT THE JUDGMENT COVERS THE GROUND IN FAVOU R OF THE ASSESSEE. ACCORDINGLY, RESPECTFULLY FOLLOWING THE JUDGMENT OF THE HIGH COURT, WE UPHOLD THE DECISION OF THE CIT(A) AN D DISMISS THE GROUND. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON 17 TH FEBRUARY 2011. SD/- SD/- (B RAMAKOTAIAH) (R V EASWAR) ACCOUNTANT MEMBER PRESIDENT MUMBAI, DATED 17 TH FEBRUARY 2011 SALDANHA COPY TO: 1. M/S J B BODA & CO. PVT. LTD. MAKER BHAVAN NO.1, SIR V T MARG NEW MARINE LINES, MUMBAI 400 020 2. ACIT, CENTRAL CIRCLE 17 & 28, MUMBAI 3. CIT-CENTRAL II, MUMBAI 4. CIT(A)-CENTRAL IV, MUMBAI 5. DR J BENCH TRUE COPY BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI