M/s Star Board Industries , Jagadhri V. Pr. CIT, Panchkula

ITA 669/CHANDI/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6525 (ITAT-CHANDIGARH)
• Duration Of Justice: 8 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 22-01-2020
• Assessment Year: 2014-2015
• Appeal Filed On: 08-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Business income; Depreciation; Salary income; Deemed to accrue or arise in india; Assessment record; Set aside
• Section: 133A; 68; 263

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, B, CHANDIGARH . . , , BEFORE SHRI N.K. SAINI, VICE PRESIDENT & SHRI SANJAY GARG, JUDICIAL MEMBER ./ ITA NO. 668/CHD/2019 / ASSESSMENT YEAR : 2014-15 M/S STAR PLY BOARD LTD, GAURI SHANKAR LINK ROAD, JAGADHRI, YAMUNANAGAR VS. ! THE PCIT, PANCHKULA ' # ./ PAN NO: AACCS8011L '$/ APPELLANT &''$ / RESPONDENT & ./ ITA NO. 669/CHD/2019 / ASSESSMENT YEAR : 2014-15 M/S STAR BOARD INDUSTRIES, VILLAGE SUGH, AMDALPUR ROAD, JAGADHRI, YAMUNANAGAR VS. ! THE PCIT, PANCHKULA ' # ./ PAN NO: ACLFS6154J '$/ APPELLANT &''$ / RESPONDENT ()*+ /ASSESSEE BY : SHRI TEJ MOHAN SINGH, ADVOCATE *+ / REVENUE BY : SHRI G. S PHANI KISHORE, CIT DR , -*) .# /DATE OF HEARING : 22.01.2020 /0 *) .# / DATE OF PRONOUNCEMENT : 01.2020 / ORDER PER SANJAY GARG, JUDICIAL MEMBER: THE CAPTIONED APPEALS HAVE BEEN PREFERRED BY THE AS SESSEES, WHO ARE SISTER CONCERNS, AGAINST THE SEPARATE ORDERS DA TED 07.03.2019 OF THE PR. COMMISSIONER OF INCOME TAX, PANCHKULA [HEREIN AFTER REFERRED TO AS ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 2 PCIT ] AGITATING THE ACTION OF THE LD. PCIT IN PASSING THE IMPUGNED ORDERS U/S 263 OF THE I.T. ACT EXERCISING HIS REVIS ION JURISDICTION AND THEREBY SETTING ASIDE THE ORDERS OF THE ASSESSING O FFICER. 2. SINCE THE FACTS AND ISSUE INVOLVED IN BOTH THE A PPEALS ARE IDENTICAL, HENCE, THESE HAVE BEEN HEARD TOGETHER AN D ARE BEING DISPOSED OF BY THIS COMMON ORDER. ITA NO. 668/CHD/2019 IS TA KEN AS A LEAD CASE FOR NARRATION OF FACTS. ITA NO. 668/CHD/2019 3. BRIEF FACTS OF THE CASE ARE THAT SURVEY ACTION U /S 133A OF THE INCOME TAX ACT, 1961 (IN SHORT 'THE ACT') WAS CONDU CTED AT THE PREMISES OF THE ASSESSEE ON 14.3.2014 AND DURING THE COURSE OF SURVEY, SEVERAL DISCREPANCIES WERE NOTICED AND CONFRONTED TO THE AS SESSEE BUT THE ASSESSEE COULD NOT EXPLAIN THE SOURCE OF INVESTMEN TS VIZ. THE EXCESS CASH FOUND, EXCESS STOCK, UNACCOUNTED ADVANCES GIVE N FOR PURCHASE OF LAND AND ADVANCES RECEIVED FROM CUSTOMERS NOT RECO RDED IN THE BOOKS OF ACCOUNT. THE ASSESSEE, THEREFORE, SURRENDERED ADDIT IONAL INCOME OF RS. 95,00,000/- DURING THE COURSE OF SURVEY ACTION. THE ASSESSEE IN THE RETURN OF INCOME DECLARED AN INCOME OF RS. 95,32,76 0/- WHICH INCLUDED THE SURRENDERED AMOUNT OF RS. 95 LACS. THE ASSESSIN G OFFICER MADE FURTHER DISALLOWANCE OF INTEREST EXPENDITURE AT RS . 16,988/- AND ASSESSED THE TOTAL INCOME OF THE ASSESSEE AT RS. 95 ,49,750/-. THEREAFTER, THE LD. PCIT NOTED FROM THE ASSESSMENT RECORDS THA T THE ASSESSEE HAD DECLARED THE RETURNED INCOME AT RS. 95,32,760/-, WH ICH INCLUDED AN ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 3 INTEREST INCOME OF RS. 60,193/-. HE, THEREFORE, NO TED THAT THE ASSESSEE DECLARED THE TOTAL INCOME OF RS. 94,72,567/- AFTER SETTING APART THE INTEREST INCOME OF RS. 60,193/-, HOWEVER, THE ASSES SEE HAD DECLARED THE ADDITIONAL INCOME OF RS. 95 LACS DURING SURVEY ACTI ON. HE NOTED THAT THE ASSESSEES DECLARED / RETURNED INCOME WAS SHORT / L ESS BY RS. 27,433/-. THE LD. PCIT, THEREFORE, OBSERVED THAT THE ASSESSIN G OFFICER HAD ACCEPTED THE RETURNED INCOME OF RS. 95,32,760/- IN CLUDING THE INTEREST INCOME OF RS. 60,193/- AND WORKED OUT THE TAX LIABI LITY BY ADOPTING / CALCULATING THE NORMAL TAX RATES APPLICABLE FOR TH E RELEVANT ASSESSMENT YEAR, WHEREAS, THE ENTIRE ADDITIONAL INCOME SURREND ERED DURING THE COURSE OF SURVEY AMOUNTING TO RS. 95 LACS WAS REQUI RED TO BE TAXED @ 30% AS PER THE PROVISIONS OF SECTION 115BBE OF THE ACT, WITHOUT ALLOWING ANY DEDUCTION IN RESPECT OF ANY EXPENDITUR E OR ALLOWANCE UNDER ANY PROVISIONS OF THE I.T. ACT, 1961. HE, THEREFORE , HELD THAT THE ORDER OF THE ASSESSING OFFICER WAS ERRONEOUS AND PREJUDIC IAL TO THE INTEREST OF REVENUE. THE LD. PCIT, THEREFORE, INVOKING HIS JURI SDICTION U/S 263 OF THE ACT AND AFTER GIVING OPPORTUNITY TO THE ASSESSE E TO EXPLAIN THE ABOVE, HELD THE ORDER OF THE ASSESSING OFFICER AS E RRONEOUS IN SO FAR AS IT WAS PREJUDICIAL TO THE INTEREST OF REVENUE. HE, ACCORDINGLY SET ASIDE THE SAME WITH THE DIRECTION TO THE ASSESSING OFFICE R TO MAKE THE ASSESSMENT AFRESH AFTER CONSIDERING THE ISSUE AS DI SCUSSED BY HIM IN THE IMPUGNED ORDER. ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 4 4. BEING AGGRIEVED BY THE ABOVE ORDER OF THE PCIT, THE ASSESSEE HAS COME IN APPEAL BEFORE US. THE LD. COUNSEL FOR THE A SSESSEE, AT THE OUTSET, HAS INVITED OUR ATTENTION TO THE WRITTEN SU BMISSIONS FILED BEFORE THE LD. PCIT, WHEREIN, THE ASSESSEE HAS SUBMITTED T HAT AGAINST THE CURRENT YEAR BUSINESS INCOME / LOSS, ASSESSEE HAD CLAIMED CURRENT YEAR DEPRECIATION AMOUNTING TO RS. 7,39,275/-. THAT AFTE R CLAIM OF THE AFORESAID DEPRECIATION, NET RESULTANT INCOME OF THE ASSESSEE WAS AT A LOSS OF RS. 27,433/-. THAT AS PER THE PROVISIONS OF SEC TION 115BBE OF THE ACT, AS APPLICABLE FOR THE ASSESSMENT YEAR UNDER CO NSIDERATION I.E. ASSESSMENT YEAR 2014-15, THERE WAS NO BAR IN SETTIN G OFF OF THE LOSS AGAINST THE DECLARED / SURRENDERED INCOME. THAT THE ASSESSEE ACCORDINGLY SET OFF THE BUSINESS LOSS OF RS. 27,433/- AGAINST THE DECLARED / SURRENDERED INCOME OF RS. 95 LACS AND RETURNED THE REMAINING AMOUNT AS TAXABLE INCOME OF THE ASSESSEE WHEREIN THE ASSESSIN G OFFICER MADE THE ADDITION OF RS. 16,988/- ASSESSING THE TOTAL INCOME AT RS. 85,49,750/-. 5. THE LD. COUNSEL FOR THE ASSESSEE HAS FURTHER SUB MITTED THAT THE LD. PCIT HAS REPRODUCED SOME PART OF THE WRITTEN ARGUME NTS IN THE IMPUGNED ORDER PASSED U/S 263 OF THE ACT, HOWEVER, PART OF THE WRITTEN SUBMISSIONS EXPLAINING THE AFORESAID FACTS HAVE BE EN SKIPPED BY THE PCIT. THE LD. COUNSEL IN THIS RESPECT HAS RELIED UP ON THE PAPER BOOK PAGES 27 TO 31, WHICH IS A COPY OF THE REPLY SUBMIT TED BY THE ASSESSEE TO THE NOTICE U/S 263(1) OF THE ACT. THE RELEVANT PAR T OF THE SUBMISSIONS OF THE ASSESSEE IN THIS RESPECT IS REPRODUCED AS UNDER ;- ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 5 FURTHER, IT IS SUBMITTED THAT AS PER PROFIT AND LO SS SUBMITTED & PRODUCED BEFORE THE LD AO AT THE TIME O F ASSESSMENT, COPY OF WHICH IS ALSO ENCLOSED AS PER ANNEXURE - II, IF WE GO THROUGH THE CONTENTS OF THE PROFIT & LOSS ACCOUNT SUBMITTED DURING THE ASSESSMENT PROCEEDINGS, IN THE CREDIT SIDE OF PROFI T AND LOSS ACCOUNT, THE ASSESSEE HAS SHOWN THE AMOUNT SURRENDERED AMOUNTING TO RS. 95,00,000/- DURING THE COURSE OF SURVEY AND OFFERED FOR TAX. WHILE ARRIVIN G AT THE NET PROFIT, THE ASSESSEE HAS CLAIMED SET OFF OF CURRENT YEAR DEPRECIATION AMOUNTING TO RS. 7,39,275/-AGAINST THE INCOME SURRENDER DURING THE COURSE OF SURVEY AMOUNTING TO RS. 95,00,000/-. IN THIS CONCERN, YOUR ATTENTION IS INVITED TO THE PROVISION OF SECTION 71, WHEREIN IT IS CLEARLY MENTIONED THAT AS PER PROVISION OF THE ACT, INTER H EAD SET OFF OF BUSINESS LOSS IS ALLOWED UNDER SECTION 7 1 AGAINST ALL OTHER INCOME EXCEPT INCOME FROM SALARY. SAME HEAD ADJUSTMENT OF BUSINESS LOSS AGAINST OTHER BUSINESS INCOME IS ALLOWED UNDER SECTION 70 OF THE ACT. AS PER THE ABOVE SAID PROVISION OF THE ACT, THE DEPRECIATION IS ALLOWED TO BE SET OFF AGAINST THE INCOME OF OTHER HEAD EVEN AFTER THE INSERTION OF SECTION 115 BBE THAT ANY INCOME ASSESSED UNDER SECTION 68 TO 69D WILL BE TAXED UNDER SECTION 115BBE AND NOT UNDER REGULAR PROVISION OF THE ACT W.E.F A.Y. 2013-14. FURTHER SECTION 115BBE HAS GOT AMENDED W.E.F A.Y. 2017-18 THAT SET OFF OF LOSS WIL L NOT BE ALLOWED TO THE ASSESSEE UNDER ANY PROVISION OF THE ACT IN COMPUTING HIS INCOME. THEREFORE, IT IS CLEAR THAT W.E.F A.Y. 2017-18, ANY TYPE OF LOSS WIL L NOT BE ALLOWED AS DEDUCTION AND SET OFF AGAINST THE INCOME AND THE AMENDMENT IS NOT RETROSPECTIVE IN NATURE. 6. THE LD. DR, ON THE OTHER HAND, HAS RELIED ON THE FINDINGS OF THE LD. PCIT AND HAS SUBMITTED THAT THE ASSESSING OFFIC ER HAS NOT DISCUSSED ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 6 ABOUT THE SPECIAL PROVISIONS OF SECTION 115BBE IN T HE ASSESSMENT ORDER AND THAT THE LD. PCIT HAS RIGHTLY NOTED THAT THE O RDER OF THE ASSESSING OFFICER WAS ERRONEOUS IN SO FAR AS IT WAS PREJUDICI AL TO THE INTEREST OF REVENUE. 7. WE HAVE HEARD THE RIVAL CONTENTIONS OF THE LD. A UTHORIZED REPRESENTATIVES OF BOTH THE PARTIES AND HAVE GONE T HROUGH THE RECORD. A PERUSAL OF THE COPY OF THE INCOME TAX ACKNOWLEDGMEN T ALONG WITH COMPUTATION OF PROFIT & LOSS ACCOUNT OF THE ASSESSE E REVEAL THAT AFTER CLAIMING DEPRECIATION OF RS. 11,88,982/-, ASSESSEE HAD CLAIMED THE LOSS OF RS. 4,16,944/-. THE ASSESSEE THEREAFTER ADDED TH E AMOUNT OF RS. 95 LACS SURRENDERED INCOME AND AFTER SETTING OFF OF TH E LOSS OF RS. 4,16,944/-, THE ASSESSEE DECLARED NET PROFIT AT RS. 90,083,055/-. HOWEVER, WHILE COMPUTING THE INCOME AS PER THE PROV ISIONS OF THE INCOME TAX ACT, THE ASSESSEE ADDED BACK THE DEPRECI ATION CLAIMED OF RS. 11,88,982/- AND THEREAFTER CLAIMED DEDUCTION OF DEPRECIATION AT RS. 7,39,275/- (AS ADMISSIBLE AS PER INCOME TAX ACT) AN D AFTER ADDING THE INTEREST INCOME OF RS. 60,193/-, THE TOTAL INCOME WAS DECLARED AT RS. 95,32,760/-. 8. NOW THE QUESTION IS THAT AS TO WHETHER THE ASSES SEE WAS ELIGIBLE TO CLAIM SET OFF OF LOSS OF THE CURRENT YEAR FROM THE BUSINESS AS AGAINST THE DECLARED / SURRENDERED INCOME OF RS. 95 LACS?. THE ISSUE HAS BEEN SETTLED BY THE VARIOUS DECISIONS OF THE TRIBUNAL AND EVEN B Y THE CBDT CIRCULAR NO. 11 OF 2019 DATED 19.6.2019, WHEREIN, IT HAS BEE N PROVIDED THAT EVEN ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 7 IF THE SAID INCOME IS TREATED AS AN INCOME ASSESSED U/S 68 OF THE ACT, STILL THE ASSESSEE IS ENTITLED TO SET OFF OF THE S AID INCOME AGAINST THE BUSINESS LOSS. THE CONTENTS OF THE SAID CBDT CIRCU LAR NO.11/2010 ARE REPRODUCED AS UNDER:- CIRCULAR NO. 11/2019 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NORTH-BLOCK, NEW DELHI, DATED THE 19 TH OF JUNE, 2019 SUBJECT: CLARIFICATION REGARDING NON-ALLOWABILITY O F SET-OFF OF LOSSES AGAINST THE DEEMED INCOME UNDER SECTION 115BBE OF T HE INCOME-TAX ACT, 1961 PRIOR TO ASSESSMENT-YEAR 2017-18-REG. WITH EFFECT FROM 01.04.2017, SUB-SECTION (2) OF SEC TION 115BBE OF THE INCOME-TAX ACT, 1961 (ACT) PROVIDES THAT WHERE TOTAL INCOME OF AN ASSESSEE INCLUDES ANY INCOME REFERRED TO IN SECTION (S) 68/69/69A/69B/69C/69D OF THE ACT, NO DEDUCTION IN R ESPECT OF ANY EXPENDITURE OR ALLOWANCE OR SET OFF OF ANY LOSS SHA LL BE ALLOWED TO THE ASSESSEE UNDER ANY PROVISIONS OF THE ACT IN COMPUTI NG THE INCOME REFERRED TO IN SECTION 115BBE(1) OF THE ACT. 2. IN THIS REGARD, IT HAS BEEN BROUGHT TO THE NOTICE OF THE CENTRAL BOARD OF DIRECT TAXES(THE BOARD) THAT IN ASSESSMENTS PRIO R TO ASSESSMENT YEAR 2017-18, WHILE SOME OF THE ASSESSING OFFICERS HAVE ALLOWED SET OFF OF LOSSES AGAINST THE ADDITIONS MADE BY THEM UNDER SECTION(S) 68/69/69A/69B/69C/69D, IN SOME CASES, SET OFF OF LO SSES AGAINST THE ADDITIONS MADE UNDER SECTION 115BBE(1) OF THE ACT H AVE NOT BEEN ALLOWED. AS THE AMENDMENT INSERTING THE WORDS 'OR SET OFF OF ANY LOSS' IS APPLICABLE WITH EFFECT FROM 1 ST OF APRIL, 2017 AND APPLIES FROM ASSESSMENT YEAR 20 17-18 ONWARDS, CONFLICTING VIEWS HAVE BEEN TAKEN BY THE A SSESSING OFFICERS IN ASSESSMENTS FOR YEARS PRIOR TO ASSESSMENT YEAR 2017 -18. THE MATTER HAS BEEN REFERRED TO THE BOARD SO THAT A CONSISTENT APPROACH IS ADOPTED BY THE ASSESSING OFFICERS WHILE APPLYING PROVISION OF SECTION 115BBE IN ASSESSMENTS FOR PERIOD PRIOR TO THE ASSESSMENT YEAR 2017-18. 3. THE BOARD HAS EXAMINED THE MATTER. THE CIRCULAR NO . 3/2017 OF THE BOARD DATED 20 TH JANUARY, 2017 WHICH CONTAINS EXPLANATORY NOTES TO T HE PROVISIONS OF THE FINANCE ACT, 2016, AT PARA 46.2, REGARDING AMENDMENT MADE IN SECTION 115BBE(2) OF THE ACT MENTIONS THAT CURRENTLY THERE IS UNCERTAINTY ON THE ISSUE OF SET-OFF OF LOSSES AGAIN ST INCOME REFERRED TO IN ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 8 SECTION 115BBE. IT ALSO FURTHER MENTIONS THAT THE P RE-AMENDED PROVISION OF SECTION 115BBE OF THE ACT DID NOT CONVEY THE INTENT ION THAT LOSSES SHALL NOT BE ALLOWED TO BE SET-OFF AGAINST INCOME REFERRED TO IN SECTION 115BBE OF THE ACT AND HENCE, THE AMENDMENT WAS MADE VIDE THE FINANCE ACT, 2016. 4. THUS KEEPING THE LEGISLATIVE INTENT BEHIND AMENDME NT IN SECTION 115BBE(2) VIDE THE FINANCE ACT, 2016 TO REMOVE ANY AMBIGUITY OF INTERPRETATION, THE BOARD IS OF THE VIEW THAT SINCE THE TERM 'OR SET OFF OF ANY LOSS' WAS SPECIFICALLY INSERTED ONLY VIDE THE FINAN CE ACT 2016, W.E.F. 01.04.2017, AN ASSESSEE IS ENTITLED TO CLAIM SET-OFF OF LOSS AGAINST INCOME DETERMINED UNDER SECTION 115BBE OF T HE ACT TILL THE ASSESSMENT YEAR 2016-17. 5. THE CONTENTS OF THIS CIRCULAR MAY BE CIRCULATED WI DELY FOR INFORMATION OF ALL STAKEHOLDERS AND DEPARTMENTAL OFFICERS. THE PEN DING ASSESSMENTS AND LITIGATIONS ON THIS ISSUE MAY BE HANDLED ACCORDINGL Y. 6. HINDI VERSION TO FOLLOW. SD/- UNDER SECRETARY (ITA.II), CBDT 9. SINCE THE ASSESSMENT YEAR INVOLVED IN THE PRESEN T CASE IS ASSESSMENT YEAR 2014-15 AND WHEREAS THE AMENDED PRO VISIONS OF SECTION 115BBE(2) ARE APPLICABLE FROM 1.4.2017, HENCE, THE ASSESSEE AS PER THE ABOVE REPRODUCED BOARD CIRCULAR WAS ENTITLED FOR S ET OFF OF LOSS AGAINST SURRENDERED INCOME. IN VIEW OF THIS, THERE IS NO ME RIT IN THE ACTION OF THE LD. PCIT IN MAKING THE IMPUGNED ADDITION AND N OT ALLOWING THE SET OFF OF INCOME. SO FAR AS THE OBSERVATION OF THE LD. PCIT THAT THE ASSESSING OFFICER HAS COMPUTED THE INCOME AS PER THE NORMAL P ROVISIONS OF THE ACT, WHEREAS, AS PER THE PROVISIONS OF SECTION 115B BE OF THE ACT, THE ASSESSING OFFICER SHOULD HAVE CALCULATED THE TAX @ 30% OF THE DECLARED RAJARAJESWAWR.) ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 9 INCOME IS CONCERNED, WE FIND THAT THE ASSESSEE BEIN G A COMPANY HAS ALREADY PAID THE TAX @ 30%. 10. IN VIEW OF THE ABOVE, THE ORDER OF THE ASSESSIN G OFFICER IS NEITHER ERRONEOUS NOR PREJUDICIAL TO THE INTEREST OF REVENU E, THEREFORE, THE PCIT HAS WRONGLY EXERCISED THE JURISDICTION U/S 263 OF T HE ACT AND THE ACTION OF THE LD. PCIT IN SETTING ASIDE THE ASSESSMENT ORD ER CANNOT BE HELD TO BE JUSTIFIED. THE IMPUGNED ORDER PASSED BY THE LD. PCIT U/S 263 OF THE ACT IS, THEREFORE, QUASHED. ITA NO. 669/CHD/2019 : 11. THE FACTS AND ISSUE INVOLVED IN ITA NO.669/CH D/2019 ARE IDENTICAL TO THAT OF IN ITA NO.668/CHD/2019, THEREF ORE, OUR FINDINGS GIVEN ABOVE WILL MUTATIS-MUTANDIS APPLY TO THIS APP EAL AND THE ORDER OF THE LD. PCIT U/S 263 OF THE ACT IS ACCORDINGLY SET ASIDE IN THIS APPEAL ALSO. IN THE RESULT, BOTH THE APPEALS OF THE ASSESSEES AR E ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 29.01.2020. SD/- SD/- ( . . / N.K. SAINI) ( / SANJAY GARG) !'# / VICE PRESIDENT $% / JUDICIAL MEMBER DATED : 29.01.2020 .. ITA NO. 668 & 669-CHD-2019- STAR PLY BOARD LTD AND STAR INDUSTRIES LTD., YAMUNA NAGAR 10 2*&)34 54 ) / COPY OF THE ORDER FORWARDED TO : 1. '$ / THE APPELLANT 2. &''$ / THE RESPONDENT 3. , 6) / CIT 4. , 6) ( )/ THE CIT(A) 5. 47 &)8 , .8 , 9:;< / DR, ITAT, CHANDIGARH 6. ;= - / GUARD FILE 2 , / BY ORDER, > / ASSISTANT REGISTRAR