Coco Latex Exports Pvt. Ltd., Bangalore V. DCIT, Bangalore

ITA 758/BANG/2011

• Counselvise Citation: 75821114 RSA 2011
• Duration Of Justice: 1 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 12-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: THOMAS VELLAPALLY
• Section: 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE A BENCH, BANGALORE BEFORE SHRI N. BARATHVAJA SANKAR, VICE PRESIDENT AND SMT. P. MADHAVI DEVI, JM ITA NO.758(BNG.)/2011 (ASSESSMENT YEAR : 2005-06) M/S COCO LATEX EXPORTS PVT.LTD., NO.7, FIRST MAIN, VASANTHNAGAR, BANGALORE-560 052. PETITIONER PAN NO.AABCC5360M VS THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-11(2), BANGALORE RESPONDENT ASSESSEE BY : SHRI THOMAS VELLAPALLY, ADVOCATE REVENUE BY : SHRI P.V. PRADEEP KUMAR, JCIT DATE OF HEARING : 0 9-09-2011 DATE OF PRONOUNCEMENT : 13-09-2011 O R D E R PER SMT. P. MADHAVI DEVI, JM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED CIT(A)-I, BANGALORE DATED 19-07-2011. 2. IN THIS APPEAL, THE ONLY GROUND RAISED BY THE AS SESSEE IS WITH REGARD TO THE DEDUCTION OF FREIGHT, TRAVELING, INSU RANCE AND TELECOMMUNICATION EXPENSES FROM THE EXPORT TURNOVER AND NOT DEDUCTING THE SAME FROM THE TOTAL TURNOVER ALSO FOR COMPUTATION OF DEDUCTION U/S 10B OF THE IT ACT. SINCE THE ISSUE IS COVERED IN FAVOUR S.P.NO.105(BNG)/2011 2 2 OF THE ASSESSEE BY THE DECISION OF THE SPECIAL BENC H OF THE TRIBUNAL AT CHENNAI IN THE CASE OF M/S SAK SOFT LTD., REPORTED IN 313 ITR 353, (SB, CHENNAI) AND ALSO DECISION OF THE HONBLE BOMB AY HIGH COURT IN THE CASE OF M/S GEM PLUS JEWELLERY INDIA LTD., 2010 TIOL-456-HC- MUM-IT. WE ARE INCLINED TO DISPOSE OF THE APPEAL B Y DIRECTING THE AO TO REDUCE THE SAME FROM THE TOTAL TURNOVER ALSO, WH ILE COMPUTING THE DEDUCTION U/S 10B OF THE IT ACT. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 13 TH SEPTEMBER, 2011. SD/- SD/- (N. BARATHVAJA SANKAR) (P. MADHAVI DEVI) VICE PRESIDENT JUDICIAL MEMBER BANGALORE: D A T E D : 13-09-2011 AM* COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A)-IV, BANGALORE. 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE (1+1) ASST. REGISTRAR ITAT, BANGALORE