ACIT, Alwar V. GINNI INTERNATIONAL LIMITED, Alwar

ITA 720/JPR/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 4919 (ITAT-JAIPUR)
• Duration Of Justice: 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-11-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 26-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROLEE AGARWAL
• Keywords: Depreciation; Rectification of order; Unabsorbed depreciation
• Section: 32; 154

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH DQY HKKJR] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS [KK LNL; DS LE{K BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YAD AV, AM VK;DJ VIHY LA-@ ITA NO. 720/JP/16P FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 THE ACIT, CIRCLE-2, ALWAR CUKE VS. M/S GINNI INTERNATIONAL LTD. RIICO INDUSTRIAL AREA, NEEMRANA, TEHSIL BEHROR, ALWAR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AAACG 0182 E VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT VK;DJ VIHY LA-@ CO NO. 30/JP/16 (ARISING OUT OF ITA NO. 720/JP/16) FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 M/S GINNI INTERNATIONAL LTD. RIICO INDUSTRIAL AREA, NEEMRANA, TEHSIL BEHROR, ALWAR CUKE VS. THE ACIT, CIRCLE-2, ALWAR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AAACG 0182 E VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI V.P. GUPTA (ADV.) JKTLO DH VKSJ LS@ REVENUE BY : SMT. ROLEE AGARWAL (CIT DR) ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 2 LQUOKBZ DH RKJH[K@ DATE OF HEARING : 08.11.2016 ?KKS'K .KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 11/11/2016. VKNS'K@ ORDER PER SHRI VIKRAM SINGH YADAV, A.M. THIS IS AN APPEAL FILED BY THE REVENUE AND CROSS-OB JECTION BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A), ALWAR DAT ED 10.05.2016 WHEREIN THE GROUNDS OF APPEAL ARE AS UNDER: ITA NO. 720/JP/16 THAT THE LD. CIT(A) HAS ERRED ON THE FACTS & CIRCU MSTANCES OF THE CASE IN DIRECTING TO ALLOW THE SET OFF OF UNABSORBED DEPREC IATION FOR RS. 6,03,67,470/- PERTAINING TO THE ASSESSMENT YEAR 1997-98 I.E. BEYOND EIGHT YEARS IMMEDIATELY SUCCEEDING THE YEAR FOR WHI CH THE DEPRECIATION ALLOWANCE WAS FIRST COMPUTED. CO NO. 30/JP/16 (1) THAT THE LD. CIT(A) ERRED IN HOLDING THAT THE O RDER PASSED BY THE AO U/S 154 OF THE ACT DATED 17.11.2014 WAS NOT TIME BARRED . HE FAILED TO APPRECIATE THAT VIDE THE AFORESAID ORDER, HE HAD RE CTIFIED THE ORDER DATED 29.12.2009 AND NOT THE ORDER DATED 16.06.2011 AND S INCE THE TIME LIMIT OF 4 YEARS PROVIDED IN SECTION 154 OF THE ACT HAD A LREADY EXPIRED, THE ORDER WAS TIME BARRED. (2) THAT THE LD. CIT(A) ALSO ERRED IN NOT APPRECIAT ING THAT SINCE UNABSORBED DEPRECIATION UNDER REFERENCE HAD BEEN DULY ALLOWED BY THE AO VIDE ORDER DATED 29.12.2009 AND AGAIN VIDE ORDER DATED 16.06.2 011 AFTER FULLY CONSIDERING THE LEGAL POSITION, THERE WAS NO MISTAK E WHICH WAS RECTIFIABLE U/S 154 OF THE ACT AND, THEREFORE, THE ORDER WAS NOT SUSTAINABLE IN TERMS OF PROVISIONS OF SECTION 154 O F THE ACT. (3) THAT THE LD. CIT(A) ALSO FAILED TO APPRECIATE T HAT IN ANY CASE THE ISSUE AT THE MOST COULD BE SAID TO BE DEBATABLE AND, ACCORDI NGLY, PROVISIONS OF SECTION 154 OF THE ACT COULD NOT BE INVOKED TO REVI SE THE ORDER TO ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 3 WITHDRAW UNABSORBED DEPRECIATION AND, THEREFORE, OR DER PASSED BY THE AO DATED 17.11.2014 WAS NOT VALID IN TERMS OF SECTI ON 154 OF THE ACT. (4) THAT THE CIT(A) ALSO FAILED TO APPRECIATE THAT THE ORDER DATED 17.11.2014 WAS PASSED BY THE AO WITHOUT CONSIDERING AND DISCUS SING THE LEGAL OBJECTIONS OF THE COMPANY AND, ACCORDINGLY, SAME WA S NOT SUSTAINABLE UNDER LAW AND IN ANY CASE, SAME WAS INVALID IN TERM S OF PROVISIONS OF SECTION 154 OF THE ACT. 2. BRIEFLY THE FACTS OF THE CASE ARE THAT THE ASSES SMENT ORDER PASSED ON 16.06.2011 U/S 143(3)/250/253 OF THE ACT, THE INCOM E OF THE ASSESSEE WAS ASSESSED AT RS. 6,03,64,470/- (BEFORE SET OFF OF UN ABSORBED DEPRECIATION) AND AFTER SET OFF OF UNABSORBED DEPRECIATION OF RS. 6,0 3,64,470/- PERTAINING TO AY. 1997-98, THE INCOME WAS ASSESSED AT RS. NIL. AS PE R THE AO, UNDER THE PROVISION OF SECTION 32(2)(III) OF THE INCOME TAX A CT 1961 AS APPLICABLE FOR THE A.Y. 1997-98 TO 2001-02, IF THE UNABSORBED DEPRECIA TION ALLOWANCE CANNOT BE WHOLLY SET OFF UNDER CLAUSE (I) AND CLAUSE (II), TH E AMOUNT OF ALLOWANCE NOT SET OFF SHALL BE CARRIED FORWARD TO THE FOLLOWING ASSES SMENT YEAR AND (I) IT SHALL BE SET OFF AGAINST THE PROFIT AND GAIN S, IF ANY, OR BUSINESS OR PROFESSION CARRIED ON BY HIM AND ASSESSABLE FOR TH AT ASSESSMENT YEAR; (II) IF THE UNABSORBED DEPRECIATION ALLOWANCE CANT BE WHOLLY SO SET OFF, THE AMOUNT OF UNABSORBED DEPRECIATION ALLOWANCE NOT SO SET OFF SHALL BE CARRIED FORWARDED TO THE FOLLOWING ASSESSMENT YEAR NOT BEING MORE THAN EIGHT ASSESSMENT YEAR, IMMEDIATELY FOLLOWING ASSESS MENT YEAR NOT BEING MORE THAN EIGHT ASSESSMENT YEAR, IMMEDIATELY SUCCEE DING THE A.Y. FOR WHICH THE AFORESAID ALLOWANCE WAS FIRST COMPUTED. INVOKING THE ABOVE PROVISIONS OF SECTION 32(2)(III) OF THE ACT, THE AO WAS OF THE BELIEF THAT UNABSORBED DEPRECIATION FOR THE A.Y. 19 97-98 WAS ALLOWABLE TO BE SET OFF ONLY TILL THE A.Y. 2006-07 (EIGHT ASSESSMEN T YEARS IMMEDIATELY SUCCEEDING THE YEAR FOR WHICH THE DEPRECIATION ALLO WANCE WAS FIRST COMPUTED). HE ACCORDINGLY HELD THAT THE DEPRECIATION PERTAININ G TO A.Y. 1997-98 CANT BE ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 4 ALLOWED SET OFF AGAINST THE INCOME FOR THE A.Y. 200 7-08 AND SINCE THIS IS A MISTAKE APPARENT FROM RECORD WITHIN THE MEANING OF SECTION 154 OF THE INCOME TAX ACT, 1961, HE ISSUED THE RECTIFICATION ORDER RE CTIFYING THE EARLIER ORDER DATED 16.06.2011 PASSED U/S 143(3)/250/253 OF THE A CT. 2.1 BEING AGGRIEVED, THE ASSSESSEE CARRIED THE MATT ER IN APPEAL BEFORE THE LD. CIT(A) WHO HAS ALLOWED THE RELIEF TO THE ASSESS EE AND HIS FINDINGS WHICH ARE UNDER CHALLENGE BY THE REVENUE AS UNDER: (5.8) HAVING CONSIDERED THE DETAILED SUBMISSIONS ALONGWIT H THE JUDICIAL CITATIONS GIVEN THEREIN, I FIND THAT THIS ISSUE REL ATING TO THE AMENDMENT MADE TO THE PROVISIONS OF SECTION 32(2) OF THE IT ACT, VIDE FINANCE ACT, 2001 AND THE CARRY FORWARD AND SET OFF OF ABSORBED DEPRECIATION PERTAINING TO THE YEARS PRIOR TO 2001-02 HAS ALREADY BEEN CONSIDERED IN GR EAT DETAIL BY THE HONBLE GUJARAT HIGH COURT IN THE CASE OF GENERAL MOTORS PV T. LTD. HONBLE COURT HAS ALSO CONSIDERED THE PURPOSE OF AMENDMENT AS CLARIFI ED BY THE CBDT IN CIRCULAR NO. 14 OF 2001 AND GIVEN A FINDING THAT THEREFORE, THE PROVISIONS OF SECTION 32(2) AS AMENDED BY THE FINANCE ACT 2001, WOULD AL LOW THE ABSORBED DEPRECIATION ALLOWANCE AVAILABLE IN THE ASSESSMENT YEARS 1997-98, 1999-2000, 2000-01 AND 2001-02 TO BE CARRIED FORWARD TO THE SU CCEEDING YEARS , AND IF ANY UNABSORBED DEPRECIATION OR PART THEREOF COULD NOT B E SET OFF TILL THE ASSESSMENT YEAR 2002-03 THEN IT WOULD BE CARRIED FORWARD TILL THE TIME IT IS SET OFF AGAINST THE PROFITS AND GAINS OF SUBSEQUENT YEARS.. FURTH ER, IT IS STATED IN THE ORDER, WE ARE OF THE CONSIDERED OPINION THAT ANY UNABSORBED DEPRECIATION AVAILABLE TO AN ASSESSEE ON THE 1 ST DAY OF APRIL, 2002 (ASSESSMENT YEAR 2002-03), WI LL BE DEALT WITH IN ACCORDANCE WITH THE PROVISIONS OF SE CTION 32(2) AS AMENDED BY THE FINANCE ACT, 2001. AND ONCE CIRCULAR NO.14 O F 2001 CLARIFIED THAT THE RESTRICTION OF EIGHT YEARS FOR CARRY FORWARD AND SE T OFF OF UNABSORBED ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 5 DEPRECIATION HAD BEEN DISPENSED WITH, THE UNABSORB ED DEPRECIATION FROM THE ASSESSMENT YEAR 1997-98 UPTO THE ASSESSMENT YEAR 20 01-02 GOT CARRIED FORWARD TO THE ASSESSMENT YEAR 2002-03 AND BECAME P ART THEREOF, IT CAME TO BE GOVERNED BY THE PROVISIONS OF SECTION 32(2) AS AMENDED BY THE FINANCE ACT, 2001, AND WERE AVAILABLE FOR CARRY FORWARD AND SET OFF AGAINST THE PROFITS AND GAINS OF SUBSEQUENT YEARS, WITHOUT ANY LIMIT WHATSO EVER.. FURTHER IT IS SEEN THAT SLP FILED BY THE DEPARTMENT AGAINST THE ORDER PASSED BY THE HONBLE GUJARAT HIGH COURT WAS DISMISSED VIDE ORDER DATED 1 1.03.2013. THIS ORDER OF HONBLE GUJARAT HIGH COURT HAS SUBSEQUENTLY BEEN FO LLOWED BY THE VARIOUS BENCHES OF HONBLE ITAT ACROSS THE COUNTRY, AS STAT ED ABOVE. (5.9) THUS RESPECTFULLY FOLLOWING THE DECISIONS AS STATED ABOVE, I HOLD THAT AO WAS NOT JUSTIFIED IN MAKING THE DISALLOWANCE ON THI S ACCOUNT AND APPELLANT IS ENTITLED TO CARRY FORWARD OF BROUGHT FORWARD UNABSO RBED DEPRECIATION OF A.Y. 1999-2000 WHICH WAS SET OFF AGAINST THE INCOME PERT AINING TO ASSESSMENT YEAR 2007-08. THE UNABSORBED DEPRECIATION OF EARLIER YE ARS IS AVAILABLE FOR SET OFF AGAINST THE INCOME OF SUBSEQUENT YEARS, WITHOUT ANY TIME LIMIT AS PROVIDED UNDER THE PROVISIONS OF SECTION 32(2) OF THE IT ACT . THEREFORE, DISALLOWANCE OF RS. 6,03,67,470/- MADE BY THE AO ON ACCOUNT OF SET OFF OF UNABSORBED DEPRECIATION OF EARLIER YEARS WHILE COMPUTING THE T AXABLE INCOME FOR THE CURRENT YEAR IS DELETED. 2.2 WE NOW REFER TO THE DECISION OF THE HONBLE GUJ ARAT HIGH COURT IN CASE OF GENERAL MOTORS VS DCIT RELIED HEAVILY BY THE LD AR AND FOLLOWED BY THE LD CIT(A). IN THAT CASE, THE QUESTION FOR CONSIDERATI ON BEFORE THE HONBLE HIGH COURT WAS WHETHER THE UNABSORBED DEPRECIATION PERT AINING TO THE ASSESSMENT YEAR 1997-98 COULD BE ALLOWED TO BE CARRIED FORWA RD AND SET OFF AFTER A PERIOD OF EIGHT YEARS OR IT WOULD BE GOVERNED BY SECTION 32 AS AMENDED BY THE ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 6 FINANCE ACT, 2001?. THE HONBLE HIGH COURT AFTER G OING THROUGH THE LATEST AMENDMENT BY THE FINANCE ACT, 2001 TO SECTION 32(2) OF THE ACT HAS HELD AS UNDER: 39. THE CENTRAL BOARD OF DIRECT TAXES CIRCULAR CL ARIFIES THE INTENT OF THE AMENDMENT THAT IT IS FOR ENABLING THE INDUSTRY TO C ONSERVE SUFFICIENT FUNDS TO REPLACE PLANT AND MACHINERY AND ACCORDINGLY THE AM ENDMENT DISPENSES WITH THE RESTRICTION OF EIGHT YEARS FOR CARRY FORWARD AN D SET OFF OF UNABSORBED DEPRECIATION. THE AMENDMENT IS APPLICABLE FROM THE ASSESSMENT YEAR 2002-03 AND SUBSEQUENT YEARS. THIS MEANS THAT ANY UNABSORBE D DEPRECIATION AVAILABLE TO AN ASSESSEE ON THE FIRST DAY OF APRIL 2002 (THE ASSESSMENT YEAR 2002-03) WILL BE DEALT WITH IN ACCORDANCE WITH THE PROVISIONS OF SECTION 32(2) AS AMENDED BY THE FINANCE ACT, 2001, AND NOT BY THE PROVISIONS OF SECTION 32(2) AS IT STOOD BEFORE THE SAID AMENDMENT. HAD THE INTENTION OF TH E LEGISLATURE BEEN TO ALLOW THE UNABSORBED DEPRECIATION ALLOWANCE WORKED OUT IN THE ASSESSMENT YEAR 1997-98 ONLY FOR EIGHT SUBSEQUENT ASSESSMENT YEARS EVEN AFTER THE AMENDMENT OF SECTION 32(2) BY THE FINANCE ACT, 2001, IT WOU LD HAVE INCORPORATED A PROVISION TO THAT EFFECT. HOWEVER, IT DOES NOT CON TAIN ANY SUCH PROVISION. HENCE, KEEPING IN VIEW THE PURPOSE OF THE AMENDMENT OF SECTION 32(2) OF THE ACT, A PURPOSIVE AND HARMONIOUS INTERPRETATION HA S TO BE TAKEN. WHILE CONSTRUING THE TAXING STATUTES, RULE OF STRICT INTE RPRETATION HAS TO BE APPLIED, GIVING FAIR AND REASONABLE CONSTRUCTION TO THE LANG UAGE OF THE SECTION WITHOUT LEANING TO THE SIDE OF THE ASSESSEE OR REVENUE. B UT IF THE LEGISLATURE FAILS TO EXPRESS CLEARLY AND ASSESSEE BECOMES ENTITLED FOR A BENEFIT WITHIN THE AMBIT OF THE SECTION BY THE CLEAR WORDS USED IN THE SECTION, THE BENEFIT ACCRUING TO THE ASSESSEE CANNOT BE DENIED. HOWEVER, CIRCULAR NO. 1 4 OF 2001 HAD CLARIFIED THAT UNDER SECTION 32(2), COMPUTING THE PROFITS AND GAI NS OR BUSINESS OR PROFESSION ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 7 FOR ANY PREVIOUS YEAR, DEDUCTION OF DEPRECIATION U/ S 32 SHALL BE MANDATORY. THEREFORE THE PROVISIONS OF SECTION 32(2) AS AMENDE D BY THE FINANCE ACT, 2001, WOULD ALLOW THE UNABSORBED DEPRECIATION ALLOWANCE A VAILABLE IN THE ASSESSMENT YEARS 1997-98, 1999-2000, 2000-01, AND 2 001-02 TO BE CARRIED FORWARD TO THE SUCCEEDING YEARS, AND IF ANY UNABSOR BED DEPRECIATION OR PART THEREOF COULD NOT BE SET OFF TILL THE ASSESSMENT YE AR 2002-03 THEN IT WOULD BE CARRIED FORWARD TILL THE TIME IT IS SET OFF AGAINS T THE PROFIT AND GAINS OF SUBSEQUENT YEARS. 40. THEREFORE, IT CAN BE SAID THAT, CURRENT DEPREC IATION IS DEDUCTIBLE IN THE FIRST PLACE FROM THE INCOME OF THE BUSINESS TO WHICH IT RELATES. IF SUCH DEPRECIATION AMOUNT IS LARGER THAN THE AMOUNT OF THE PROFIT OF THAT BUSINESS, THEN SUCH EXCESS COMES FOR ABSORPTION FROM THE PROFIT AND GA INS FROM ANY OTHER BUSINESS OR BUSINESS, IF ANY, CARRIED ON BY THE ASSESSEE. I F A BALANCE IS LEFT EVEN THEREAFTER, THAT BECOMES DEDUCTIBLE FROM OUT OF INC OME FROM ANY SOURCE UNDER ANY OF THE OTHER HEADS OF INCOME DURING THAT YEAR. IN CASE THERE IS A STILL BALANCE LEFT OVER, IT IS TO BE TREATED AS UNABSORBE D DEPRECIATION AND IT IS TAKEN TO THE NEXT SUCCEEDING YEAR. WHERE THERE IS A CURR ENT DEPRECIATION FOR SUCH SUCCEEDING YEAR THE UNABSORBED DEPRECIATION IS ADD ED TO THE CURRENT DEPRECIATION FOR SUCH SUCCEEDING YEAR AND IS DEEMED AS PART THEREOF. IF, HOWEVER, THERE IS NO CURRENT DEPRECIATION FOR SUC H SUCCEEDING YEAR, THE UNABSORBED DEPRECATION BECOMES THE DEPRECIATION ALL OWANCE FOR SUCH SUCCEEDING YEAR. WE ARE OF THE CONSIDERED OPINION T HAT ANY UNABSORBED DEPRECIATION AVAILABLE TO AN ASSESSEE ON THE 1 ST DAY OF APRIL, 2002, (THE ASSESSMENT YEAR 2002-03), WILL BE DEALT WITH IN ACC ORDANCE WITH THE PROVISIONS OF SECTION 32(2) AS AMENDED BY THE FINANCE ACT, 200 1. AND ONCE CIRCULAR NO. 14 OF 2001 CLARIFIED THAT THE RESTRICTION OF EIGHT YEARS FOR CARRY FORWARD AND SET ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 8 OFF OF UNABSORBED DEPRECIATION HAD BEEN DISPENSED W ITH, THE UNABSORBED DEPRECIATION FROM THE ASSESSMENT YEAR 1997-98 UPTO THE ASSESSMENT YEAR 2001-02 GOT CARRIED FORWARD TO THE ASSESSMENT YEAR 2002-03 AND BECAME PART THEREOF, IT CAME TO BE GOVERNED BY THE PROVISIONS O F SECTION 32(2) AS AMENDED BY FINANCE ACT, 2001, AND WERE AVAILABLE FOR CARRY FORWARD AND SET OFF AGAINST THE PROFITS AND GAINS OF SUBSEQUENT YEARS, WITHOUT ANY LIMIT WHATSOEVER. 2.3 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. RESPECTFULLY FOLLOWING THE DECISION OF THE HONBLE GUJARAT HIGH COURT IN CASE OF GENERAL MOTORS REFERRED SUPRA, THE UNABSORBED DEPRECIATION FOR AY 1997-98 SHALL BE GOVERNED BY THE PROVISIONS OF SECTION 32(2) AS AMENDED BY FINANCE ACT, 2001, AND WERE AVAILABLE FO R CARRY FORWARD AND SET OFF AGAINST THE PROFITS AND GAINS OF SUBSEQUENT YE ARS, WITHOUT ANY LIMIT WHATSOEVER. HAVING DECIDED THE MATTER ON MERIT, WE DONOT THINK ITS NECESSARY TO EXAMINE THE GROUNDS RAISED BY THE ASSESSEE IN IT S CROSS OBJECTION IN RELATION TO CHALLENGING THE PROCEEDINGS UNDER SECTION 154 OF THE ACT. IN THE RESULT, WE CONFIRM THE ORDER OF THE LD CIT(A ) AND THE APPEAL FILED BY THE REVENUE AND THE CROSS-OBJECTION OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11/11/ 2016. SD/- SD/- (KUL BHARAT ) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER JAIPUR DATED:- 11/11/2016 PILLAI ITA NO. 720/JP/16 & CO NO. 30/JP/16 ACIT, CIRCLE-2, ALWAR VS. M/S GINNI INTERNATIONAL, ALWAR 9 VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- THE ACIT, CIRCLE-2, ALWAR 2. IZR;FKHZ@ THE RESPONDENT- M/S GINNI INTERNATIONAL LTD. ALWAR 3. VK;DJ VK;QDR@ CIT ALWAR 4. VK;DJ VK;QDRVIHY@ THE CIT(A)-ALWAR 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO. 720/JP/2016 & CO NO. 30/JP/16) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR.