ITO 17(2)(1), MUMBAI V. SHREE KRISHNA SAI DEVELOPMENT CORPORATION, MUMBAI

ITA 7078/MUM/2010

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 70694 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 10 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 12-08-2013
• Assessment Year: 2004-2005
• Appeal Filed On: 13-10-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T ROUMUAN PAITE
• Assessee Lawyers: R C JAIN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH E, MUMBAI BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND DR. S.T.M. PAVALAN, JUDICIAL MEMBER ITA NOS. 7076, 7077, 7078 & 7079/MUM/2010 ASSESSMENT YEARS: 2002-03, 2003-04, 2004-05, 2007- 08 ITO, 17(2)(1), 216, PIRAMAL CHAMBERS, LALBAUG, MUMBAI- 7 VS. M/S. SHREE KRISHNA SAI DEVELOPMENT CORPORATION, DADA BAZAR, BHARTIYA KRIDA MANDIR, 57, NAIGAON CROSS ROAD, WADALA, MUMBAI- 400 004 PAN: AAKFS 7230 G (APPELLANT) (RESPONDENT) REVENUE BY : SHRI T. ROUMUAN PAITE ASSESSEE BY : SHRI R.C. JAIN & AJAY DAGA DATE OF HEARING : 12.08.2013 DATE OF PRONOUNCEMENT : 23.08.2013 O R D E R PER DR. S.T.M. PAVALAN, JM: THESE FOUR APPEALS FILED BY THE REVENUE ARE DIRECT ED AGAINST THE ORDER OF THE LD.CIT(A)-29, MUMBAI ALL DATED 14.07.2010 FOR THE A SSESSMENT YEARS 2002-03, 2003-04, 2004-05 AND 2007-08. SINCE THE GROUNDS RAI SED BY THE REVENUE IN ALL THE APPEALS ARE IDENTICAL, THE SAME ARE DISPOSED OFF BY THIS COMMON ORDER. 2. THE ISSUE RAISED IN THE GROUNDS OF ALL THE APPEA L RELATE TO THE QUESTION OF 80IB(10) DEDUCTION WHICH HAS BEEN DISALLOWED BY THE AO ON THE GROUND THAT THE PROJECT HAS BEEN COMMENCED PRIOR TO 01.10.1998 AND THE LD.CIT(A) ALLOWED THE DEDUCTION RELYING ON THE DECISION OF THE ITAT IN TH E ASSESSEES OWN CASE FOR THE AYS 2005-06 & 2006-07 IN ITA NOS. 3385 & 3386/MUM/2009 VIDE ORDER DATED 02.07.2010, WHICH HAS BEEN EXTRACTED IN PARA 7 AT P AGE 14 OF THE ORDER OF THE LD.CIT(A). IT IS FURTHER OBSERVED THAT THE SAID DEC ISION OF THE ITAT HAS BEEN CONFIRMED BY THE HONBLE HIGH COURT OF BOMBAY VIDE ITS ORDER DATED 27.07.2011 IN ITA NOS. 7076, 7077, 7078 & 7079/MUM/2010 M/S. SHREE KRISHNA SAI DEVELOPMENT CORPORATION ASSESSMENT YEARS: 2002-03, 2003-04, 2004-05, 2007- 08 2 ITA NOS. 2307 OF 2010 AND 2308 OF 2010 IN THE APPEA LS PREFERRED BY THE REVENUE AGAINST THE AFOREMENTIONED ORDER OF THE ITAT. ACCOR DINGLY, WE DECIDE THE ISSUE AGAINST THE REVENUE AND IN FAVOUR OF THE ASSESSEE. RESULTANTLY, THE IMPUGNED ORDERS OF THE LD.CIT(A) ARE UPHELD. 3. IN THE RESULT, THE APPEALS FILED BY THE REVENUE ARE DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 23 RD DAY OF AUGUST, 2013. SD/- SD/- (P.M. JAGTAP) (DR. S.T.M. PAVALAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 23.08.2013. *SRIVASTAVA COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR E BENCH //TRUE COPY// [ BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.