Sh. Vipin Gupta, Solan V. DCIT, Circle, Parwanoo

ITA 684/CHANDI/2018

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 5361 (ITAT-CHANDIGARH)
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-10-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 11-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANJIT SINGH
• Assessee Lawyers: MANOJ GOYAL
• Section: 80IB

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, B, CHANDIGARH , ! '# $ % & '# , () BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ./ ITA NO. 684/CHD/2018 $ !* / ASSESSMENT YEAR : 2014-15 SH. VIPIN GUPTA, M/S JAYANTI POLYMAR INDUSTRIES, DIC INDUSTRIAL AREA, PLOT NO. 30, BADDI, DISTT. SOLAN, H.P . $' THE DCIT , CIRCLE-PARWANOO + () ./PAN NO: ABXPG0206E +,/ APPELLANT ./+, /RESPONDENT /ASSESSEE BY : SH. MANOJ GOYAL, CA / REVENUE BY : SH. MANJIT SINGH, SR DR /DATE OF HEARING : 17.09.2018 /DATE OF PRONOUNCEMENT : 05.10. 2018 (0/ ORDER PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSESS EE AGAINST THE ORDER DATED 28.02.2018 OF THE COMMISSIONER OF INCOM E TAX (A), SHIMLA [HEREINAFTER REFERRED TO AS CIT(A)]. 2. THE SHORT ISSUE INVOLVED IN THIS APPEAL IS AS TO WHETHER THE PERIOD FOR WHICH THE ASSESSEE HAS CLAIMED DEDUCTION U/S 80 IB OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT') IS TO BE INCLUDED FOR THE PURPOSE OF PERIOD OF DEDUCTION CLAIMED BY THE ASSESSEE U/S 80IC OF THE I NCOME-TAX ACT ON ACCOUNT OF SUBSTANTIAL EXPANSION. ITA NO. 684//CHD/2018- SHVIPIN GUPTA, DISTT. SOLAN 2 3. AT THE OUTSET, BOTH THE LD. REPRESENTATIVES OF T HE PARTIES HAVE SUBMITTED THAT THE ISSUE IS SQUARELY COVERED IN FAV OUR OF THE ASSESSEE BY THE DECISION OF THE HON'BLE SUPREME COURT IN THE CA SE OF MAHABIR INDUSTRIES VS. PCIT IN CIVIL APPEAL NO (S) 4765-47 66 OF 2018 VIDE ORDER DATED 18.5.2018, WHEREIN, THE HON'BLE SUPREME COURT HAS HELD THAT BENEFIT OF PROVISIONS OF SECTION 80IC OF THE ACT SHALL GET TRIGGERED IN THE YEAR IN WHICH SUCH SUBSTANTIAL EXPANSION IS COMPLETED AND T HAT YEAR IS TO BE TREATED AS INITIAL ASSESSMENT YEAR, IRRESPECTIVE OF ANY DEDUCTION, CLAIMED BY THE ASSESSEE U/S 80IB OF THE ACT. 4. IN VIEW OF THIS, THE ISSUE INVOLVED IN THIS APPE AL IS COVERED IN FAVOUR OF THE ASSESSEE. THE ASSESSING OFFICER IS, THEREFOR E, DIRECTED TO GRANT DEDUCTION TO THE ASSESSEE U/S 80IC OF THE ACT AS PE R THE PRINCIPLE OF LAW LAID DOWN BY THE HON'BLE SUPREME COURT IN THE CASE OF MAHABIR INDUSTRIES VS. PCIT (SUPRA). THE APPEAL OF THE ASSESSEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 05.10.2018 SD/- SD/- $ % & '# (ANNAPURNA GUPTA) () / ACCOUNTANT MEMBER (SANJAY GARG ) / JUDICIAL MEMBER DATED : 5.10.2018 RKK !'# $%' / COPY OF THE ORDER FORWARDED TO : 1. $#!&' / THE APPELLANT 2. ()&' / THE RESPONDENT 3. ) ) * / CIT 4. ) ) * ( $#! )/ THE CIT(A) 5. '+,) - , ) $#!) - , ./0,1 / DR, ITAT, CHANDIGARH 6. ,0 2! / GUARD FILE ITA NO. 684//CHD/2018- SHVIPIN GUPTA, DISTT. SOLAN 3 / BY ORDER, 3) #4 / ASSISTANT REGISTRAR