Shri Shankar Singh Sekhawat, V. Income Tax Officer, Baddi

ITA 670/CHANDI/2017

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 5026 (ITAT-CHANDIGARH)
• Duration Of Justice: 2 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-07-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 17-04-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: CHANDRAKANTADR

Judgement Text

1OF2 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES, SMC, CHANDIGARH BEFORE MS. DIVA SINGH, JUDICIAL MEMBER ITA NO.670/CHD/2017 ASSESSMENT YEAR: 2010-11 SHRI SHANKAR SINGH SEKHAWAT, VS. THE ITO, PLOT NO. 143, HPSIDC, INDL.AREA, WARD, BADDI, DISTT. SOLAN (HP). BADDI. PAN NO. AWNPS6992A (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI JASPAL SHARMA RESPONDENT BY : SMT. CHANDRAKANTA,DR DATE OF HEARING : 23.05.2017 DATE OF PRONOUNCEMENT : 13.07.2017 ORDER THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE ASSAILIN G THE CORRECTNESS OF THE ORDER DATED 10.01.2017 OF CIT (APPEALS ) FARIDABAD PERTAINING TO 2010-11 ASSESSMENT YEAR ON THE FOLLOWING GROUNDS : 1. THE IMPUGNED ORDER IS BOTH AGAINST FACTS AND ERRONE OUS IN LAW. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD.C IT(APPEALS) HAS ERRED IN HAVING CONFIRMED THE DISALLOWANCE OF DEDUCTION U/S 80IC OF THE INCOME TAX ACT, AMOUNTING TO RS.L4 ; 17,094/- MADE BY THE LD.AO BY RESTRICTING THE CLAIM OF DEDUCTION U/S 80IC AT 25% OF ELIGIBLE PROFITS. 2. THE RELEVANT FACTS OF THE CASE ARE THAT THE ASSESSE E FIRM DERIVES INCOME FROM MANUFACTURING AND JOB WORK OF STEEL FURNITURE, WOODEN FURNITURE AND STEEL FABRICATION. THE ASSESSEE CLAIMED 100% DEDUCTION U/S 80IC OF THE ACT ON THE GROUNDS OF EXPANSION CARRIED OUT. THE AO RESTRIC TED THE DEDUCTION TO 25%. THE SAID CONCLUSION WAS CONFIRMED IN APPEAL BY THE CIT(A) RELYING UPON THE ORDER OF THE ITAT IN THE CASE OF M/S HYCRON ELECTRO NICS VS ITO IN ITA NO. 798/CHD/2012. ON THE DATE OF HEARING, AN ADJOURNMENT WA S MOVED BY THE LD. AR. THE LD. SR.DR REFERRING TO THE AFORESAID FACTS OBJECT ED TO THE ADJOURNMENT STATING THAT THE ISSUE ON FACTS AND LAW IS IN FAVOUR OF THE REVENUE. THE LD. AR SUBMITTED THAT THE ASSESSEE IS CARRY ING THE ISSUE BEFORE THE HON'BLE HIGH COURT, THUS, IT SHOULD NOT BE CONSIDERED THAT THE ISSUE HAS BEEN GIVEN UP BY THE ASSESSEE. ON FACTS IT WAS AGREED THAT AS FAR AS THE PRESENT FORUM IS CONCERNED, THE ISSUE STANDS ADDRESSED BY THE SAID DECISION. ITA NO.670/CHD/2017 A.Y. 2010-11 THE ONLY CONCERN OF THE ASSESSEE WAS THAT IT SHOULD NOT BE CONSID ERED THAT THE ISSUE HAS BEEN GIVEN UP. TAKING NOTE OF THE AFORESAID STA ND OF THE ASSESSEE IN THE ABSENCE OF ANY MATERIAL CHANGE IN THE FACTS AND CIR CUMSTANCES, WHERE THE CIT(A) NOTES THAT THE AO HAS HELD THAT IS THE 10 TH YEAR REJECTING THE ASSESSEE'S CLAIM THAT IT WAS THE 5 TH YEAR, ACCORDINGLY, THE APPEAL OF THE ASSESSEE IS DISMISSED FOLLOWING THE JUDICIAL PRECEDENT RELIED U PON. THE AFORESAID FINDING SHALL NOT STAND AS AN IMPEDIMENT TO THE AS SESSEE PURSUING THE ISSUE BEFORE A HIGHER FORUM. THE APPEAL OF THE ASSESSEE IS DISMISS ED. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH JULY,2017. SD/- (DIVA SINGH) JUDICIAL MEMBER POONAM COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR ASSTT. REGISTRAR ITAT,CHANDIGARH.