Patspin India Ltd, Ernakulam V. DCIT, Ernakulam

ITA 894/COCH/2008

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 4390 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 6 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-05-2010
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 26-08-2010
• Assessment Year: 2001-2002
• Appeal Filed On: 22-10-2008
• Court: TRIBUNAL
• Keywords: Depreciation
• Section: 10B; 263

Judgement Text

I.T.A. NOS . 894 TO 896/COCH/2008 & 541/COCH/2 009 - PATSPIN INDIA LTD. REFERENCE U/S. 255(4) OF THE I.T. ACT, 1961 IN MY CONSIDERED VIEW, THE FOLLOWING QUESTIONS ARISE ON THE POINTS OF DIFFERENCE BETWEEN THE TWO MEMBERS PER THEIR SEPARATE ORDERS, FOR REFERENCE TO THE HONBLE PRESIDENT, INCOME TAX APPELLATE TRIBUNAL:- I) WHETHER THE CIT (APPEALS) WAS CORRECT IN HOLDI NG THAT THE ISSUE AGITATED VIDE GROUND NO. 1 OF ITS APPEALS FOR ASSESSEMENT YEAR 2 001-02, 2002-03 AND 2004-05 BY THE ASSESSEE, STANDS COVERED BY THE ORDER OF REV ISION U/S. 263 BY THE COMMISSIONER OF INCOME-TAX FOR THOSE YEARS? II) WHETHER THE ASSESSEE IS, ON MERITS, ELIGIBLE FO R ITS CLAIM OF DEPRECIATION ALLOWANCE QUA ITS ELIGIBLE UNDERTAKING, UNIT A, FOR AYS 1994-95 TO 19 96-97, TO THE EXTENT UNABSORBED IN THE COMPUTATION OF INCOME FOR THOSE YEARS, AGAINST ITS TAXABLE INCOME FOR THE ASSESSMENT YEARS 2001-02, 20 02-03 AND 2004-05, IN VIEW OF SECTION 10B (6) R.W.S 32(2) OF THE INCOME TAX AC T, 1961? III) WHETHER THE ASSESSEE IS ELIGIBLE FOR ITS CLAIM OF DEPRECIATION ALLOWANCE QUA ITS ELIGIBLE UNDERTAKINGS, UNIT A AND UNIT B, FOR A.Y. 1994-95 TO 1996-97 AND A.Y. 1997-98 RESPECTIVELY, TO THE EXTENT UNABSORBED IN T HE COMPUTATION OF INCOME FOR THE RELEVANT YEARS, AGAINST ITS TAXABLE INCOME FOR A.Y. 2006-07, IN VIEW OF SECTION 10B (6) R.W.S 32(2) OF THE ACT? SD/ - (SANJ AY ARORA) ACCOUNTAN T MEMBER, ITAT, COC HIN BENCH PLACE: ERNAKULAM DATE: MAY 13, 2010 GJ ITA. NOCOCH./200 2