ACIT, CHENNAI V. M/s. Shriram EPC Ltd., CHENNAI

ITA 895/CHNY/2012

• Counselvise Citation: 89521714 RSA 2012
• Duration Of Justice: 4 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-09-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2005-2006
• Appeal Filed On: 20-04-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANUPAMA SHUKLA
• Assessee Lawyers: R SIVARAMAN
• Keywords: Depreciation; Bad and doubtful debts; Corroborative evidences; Revenue expenditure; Capital expenditure
• Section: 15

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BENCH C CHENNAI BEFORE SHRI ABRAHAM P GEORGE, ACCOUNTANT MEMBER AND SHRI S.S. GODARA, JUDICIAL MEMBER I.T.A. NO.895 TO 897/MDS/2012 ASST. YEARS : 2005-06 TO 2007-08 THE ASST. COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(2), CHENNAI. (APPELLANT) V. M/S. SHRIRAM EPC LTD, MOOKAMBIGA COMPLEX, 3 RD FLOOR, NO.4, LADY DESIKA ROAD, MYLAPORE, CHENNAI 600 004. PAN : AAFCS1410C (RESPONDENT ) I.T.A. NO.894/MDS/2012 - ASST. YEAR : 2008-09 THE ASST. COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(2), CHENNAI. (APPELLANT) V. M/S. SHRIRAM CITY UNION FINANCE LTD, MOOKAMBIGA COMPLEX, 3 RD FLOOR, NO.4, LADY DESIKA ROAD, MYLAPORE, CHENNAI 600 004. PAN : AAACS7703H (RESPONDENT ) APPELLANT BY : MS. ANUPAMA SHUKLA, CIT RESPONDENTS BY : SHRI R. SIVAR AMAN, ADVOCATE DATE OF HEARING : 24 TH JULY 2012 DATE OF PRONOUNCEMENT : 10 TH SEPTEMBER 2012 O R D E R PER S.S. GODARA, JUDICIAL MEMBER : THESE FOUR APPEALS FILED BY REVENUE ARISE FROM ORD ERS OF CIT(APPEALS) IN CASES NAMELY ITA NO.CIT(A)-V/ITA NO.396/2007-08 DAT ED 30.01.2012, ITA NO.CIT(A)-V/ITA NO.463/2010-11 DATED 31.01.2012 & I TA NO.CIT(A)-V/ITA NO.199/2010-11 DATED 31.01.2012 AND IN ITA NO.CIT( A)-V/ITA NO.229/2010-11 I.T.A. NO. 894-897/MDS/12 2 DATED 31.01.2012 FOR THE ASST. YEARS 2005-06, 2006- 07, 2007-08 AND 2008-09 RESPECTIVELY. THE RELEVANT PROCEEDINGS ARE UNDER S EC.143(3) OF THE INCOME TAX ACT, 1961 IN SHORT 'THE ACT' . 2. WE HAVE GONE THROUGH THE REVENUES GROUNDS IN A LL THE APPEALS. IT EMERGES THAT ALMOST ALL THE ISSUES ARE COVERED BY V ARIOUS DECISIONS OF ITAT, CHENNAI. STILL FURTHER, WE DEEM IT APPROPRIATE TO R EPRODUCE THE RELEVANT PLEADINGS IN GROUNDS MADE BY THE REVENUE IN ALL APPEALS AS UN DER :- A) ITA NO.895/MDS/2012 A.Y. 2005-06 : 1. THE ORDER OF LEARNED CIT(APPEALS) IS CONTRARY TO LA W AND FACTS OF THE CASE. 2.1 THE LD. CIT(APPEALS) ERRED IN DELETING THE DIS ALLOWANCE OF DEPRECIATION ON TECHNICAL KNOW HOW OF G. 9,49,219/- ACQUIRED IN F.Y. 2001-02 AND G 8,43,750/- ACQUIRED IN F.Y. 2002-03. 2.2 THE LD. CIT(APPEALS) RELIED ON THE ORDERS OF THE HONBLE ITAT IN THE ASSESSEES OWN CASE IN ITA NO.332/MDS/2008 DT. 13. 06.2008. 2.3 IT IS SUBMITTED THAT THE CIT(APPEALS)S ORDER RELIED UPON THE ITATS ORDER IN THE ASSESSEES OWN CASE FOR THE ASST. YEA R 2002-03 HAS NOT BECOME FINAL AND APPEAL TO THE HIGH COURT HAVE BEE N PREFERRED BAY THE DEPARTMENT. 3. FOR THESE AND OTHER GROUNDS THAT MAY BE ADDUCE D AT THE TIME OF HEARING, IT IS PRAYED THAT THE ORDER OF THE LD. CI T(APPEALS) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER RESTORED. I.T.A. NO. 894-897/MDS/12 3 B) ITA NO.896/MDS/20012 A.Y. 2006-07 : 1. THE ID. CIT(A) ERRED IN DELETING THE DISALLOWANCE O F RS. 77,98,491/- U/S 80LA OF THE IT ACT. 2.1 THE ID. CIT(A) RELIED ON THE ORDER OF THE ITAT IN ITA NO. 1360/MDS/2006 DT. 27-6-2008 FOR THE AY. 2001-02 IN THE CASE OF ML S SHRIRAM ENGINEERING CONSTRUCTION COMPANY LTD (NOW M ERGED WITH THIS COMPANY). 2.3 IT IS SUBMITTED THAT THE CIT(A) 'S ORDER RELI ED UPON THE IT A T'S ORDER IN THE ABOVE MENTIONED CASE FOR THE ASST.YEAR 2001- 02 HAS NOT BECOME FINAL AND. APPEAL TO THE HIGH COURT HAVE BEE N PREFERRED BY THE DEPARTMENT. 3.1 THE ID. CIT(A) ERRED IN DELETING THE DISALLOWAN CE OF DEPRECIATION ON TECHNICAL KNOWHOW OF RS. 7,11,914/- ACQUIRED IN F.Y. 2001-02 AND G 6,32,813/- ACQUIRED IN F Y 2002-03 3.2 THE ID. CIT(A) RELIED ON THE ORDERS OF THE HO N'BLE ITAT IN THE ASSESSEE'S OWN CASE IN ITA NO.3321 MDS/2008 DT. 13.06.2008. 3.3 IT IS SUBMITTED THAT THE CIT(A) 'S ORDER RELIE D UPON THE IT A T'S ORDER IN THE ASSESSEE'S OWN CASE FOR THE ASST.YEAR 2002-0 3 HAS NOT BECOME FINAL AND APPEAL TO THE HIGH COURT HAVE BEE N PREFERRED BY THE DEPARTMENT. 4.1 THE LD. CIT(A) ERRED IN DELETING THE ADDITION OF COKE OYER PROJECT EXPENSES OF RS. 1,68,39,0001- CLAIMED AS REVENUE EXPENDITURE I.T.A. NO. 894-897/MDS/12 4 4.2 THE ID. CIT(A) OUGHT TO HAVE CONSIDERED THIS E XPENDITURE AS CAPITAL IN NATURE. 4..3 IT IS SUBMITTED THAT THE EXPENDITURE CLAIMED ON COK E OVEN PROJECT HAS NOT BEEN DEBITED IN THE PROFIT & LOSS ACCOUNT, NOT INCURRED TOWARDS EXISTING PROJECT, NOT MENTIONED IN THE ANNU AL REPORT OF THE COMPANY AND FINALLY NO EVIDENCE IN SUPPORT OF SUCH EXPENSES WERE PRODUCED DURING ASSESSMENT PROCEEDINGS. 5. FOR THESE AND OTHER GROUNDS THAT MAY BE ADDUCED AT THE TIME OF HEARING, IT IS PRAYED THAT THE ORDER OF THE LEARNED CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER RESTORED. C) ITA NO.897/MDS/20012 A.Y. 2007-08: 1. THE ORDER OF LEARNED CIT(APPEALS) IS CONTRARY TO LA W AND FACTS OF THE CASE. 2.1 THE LD. CIT(APPEALS) ERRED IN DELETING THE DIS ALLOWANCE OF DEPRECIATION ON TECHNICAL KNOW HOW OF G. 5,33,936/- ACQUIRED IN F.Y. 2001-02 AND G 4,74,6090/- ACQUIRED IN F.Y. 20 02-03. 2.2 THE LD. CIT(APPEALS) RELIED ON THE ORDERS OF THE HONBLE ITAT IN THE ASSESSEES OWN CASE IN ITA NO.332/MDS /2008 DT. 13.06.2008. I.T.A. NO. 894-897/MDS/12 5 2.3 IT IS SUBMITTED THAT THE CIT(APPEALS)S ORDER RELIED UPON THE ITATS ORDER IN THE ASSESSEES OWN CASE FOR THE AS ST. YEAR 2002-03 HAS NOT BECOME FINAL AND APPEAL TO THE HI GH COURT HAVE BEEN PREFERRED BY THE DEPARTMENT. 3. FOR THESE AND OTHER GROUNDS THAT MAY BE ADDUCE D AT THE TIME OF HEARING, IT IS PRAYED THAT THE ORDER OF THE LD. CIT(APPEALS) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER RESTORED. D) ITA NO.894/MDS/20012 A.Y. 2008-09 1. THE ORDER OF THE LEARNED CIT(A) IS CONTRARY TO LAW AND FACTS OF THE CASE. 2.1 THE LD. CIT(A) ERRED IN DELETING THE DISALLOWAN CE OF BAD DEBTS OF RS. 2,53,75,000/- . 2.2 IT IS SUBMITTED THAT THE DECISION OF THE HON'BL E IT AT, RELIED UPON BY THE LEARNED CIT(A), IN ITA NO.726/MDS/201 0 DT. 16-12-2010 FOR THE AY 2006-07 AND ITA NO 22/MDS 12011 DT. 08-11-2011 FOR THE AY.2007-08 IN THE ASSESSEE'S OWN CASE HAS NOT BECOME FINAL AND THE DEPARTMENT HAS PREFERRED AN APPEAL BEFORE THE HON'BLE HIGH COURT OF MADRAS U/S.260A. 3.1 THE LD. CIT(A) ERRED IN DIRECTING THE ASSESSING OFFICER TO TREAT THE ROYALTY EXPENDITURE AS REVENUE EXPENDI TURE AND WITHDRAW THE DEPRECIATION ALLOWED ON IT. I.T.A. NO. 894-897/MDS/12 6 3.2 HAVING REGARD TO THE AMENDED PROVISIONS OF SEC.32, ALLOWING DEPRECIATION ON INTANGIBLE ASSETS, THE LEA RNED CIT(A) OUGHT TO HAVE UPHELD THE ACTION OF THE ASSES SING OFFICER OF TREATING THE EXPENDITURE TOWARDS ROYALTY AS CAPITAL EXPENDITURE AND ALLOWING DEPRECIATION, THEREON. 3.3 THE LD. CIT(A) RELIED ON THE ORDERS OF THE HON' BLE ITAT IN THE ASSESSEE'S OWN CASE IN ITA NO. 726/MDS/2010 D T. 16- 12-2010 FOR THE AY 2006-07 AND ITA NO. 319/MDS/20 11 DT. 10-10-2011 FOR THE A.Y. 2007-08. 3.4 IT IS SUBMITTED THAT THE DECISION OF THE HON'B LE ITAT, RELIED UPON BY THE LEARNED CIT(A), IN ITA NO.726/MDS/20 10 DT. 16-12-2010 FOR THE AY 2006-07 AND ITA NO.319 /MDS 12011 DT 10-10-2011 FOR THE A.Y. 2007 -08 IN THE DEPART- ASSESSEE'S OWN CASE HAS NOT BECOME FINAL AND THE MENT HAS PREFERRED AN APPEAL BEFORE THE HON'BLE H IGH COURT U/S.260A. 4.1 THE LD. CIT(A) ERRED IN DIRECTING THE ASSESS ING OFFICER TO ALLOW LOSS ARISING OUT OF DERIVATIVES /HEDGING TRANSACTIONS IN FOREIGN EXCHANGE OF RS. 8,11,67,6771- RELYING UPON THE DECISION OF THE IT AT IN THE CASE OF GROUP CONCERN M/S. SHRIRAM TRANSPORT FINANCE CO LTD FOR THE AY. 2007-08 IN ITA NO. 320/MDS/2011 DT 10-10- 2011. I.T.A. NO. 894-897/MDS/12 7 4.2 IT IS SUBMITTED THAT THE DECISION OF THE HON'B LE ITAT, RELIED UPON BY THE LEARNED CIT(A), IN IN THE CASE OF GROUP CONCERN M/S SHRIRAM TRANSPORT FINANCE CO. LTD FOR THE AY 2007-0 8 IN ITA NO 320/MDS/2011 DT. 10-10-2011 HAS NOT BECOME FINAL AN D THE DEPARTMENT HAS PREFERRED AN APPEAL BEFORE THE HON'B LE HIGH COURT U/S. 260A. 5.1 THE LD. CIT(A) ERRED IN DIRECTING THE ASSESSI NG OFFICER TO ALLOW DERIVATIVE LOSS CLAIMED OF RS. 8,11,67,677/- WHILE COMPUTING BOOK PROFIT U/S 1 5 OF THE ACT RELYING UP ON THE DECISION OF THE ITAT IN THE CASE OF GROUP CONCERN M /S SHRIRAM TRANSPORT FINANCE CO. LTD FOR THE A' 2007 -08 IN I TA NO 320/MDS/2011 DT. 10-10-2011. 5.2 IT IS SUBMITTED THAT THE DECISION OF THE HO N'BLE IT AT, RELIED UPON BY THE LEARNED CIT(A), IN IN THE CASE OF GROUP CONCERN M/S SHRIRAM TRANSPORT FINANCE CO. LTD FOR THE AY. 2007- 08 IN ITA NO. 320/MDS/2011 DT. 10-10-2011 HAS NOT BECOME FINAL AN D THE DEPARTMENT HAS PREFERRED AN APPEAL BEFORE THE HON'B LE HIGH COURT U/S.260A. 6. FOR THESE AND OTHER GROUNDS THAT MAY BE ADDUCED AT THE TIME HEARING, IT IS PRAYED THAT THE ORDER OF THE LEARNED CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER RESTORED. 3. ON BEHALF OF THE REVENUE, BY REITERATING THE VARIOUS PLEAS RAISED IN GROUNDS REPRODUCED HEREIN ABOVE; IT HAS BEEN CONTE NDED THAT IN ALL THE CASES, THE CIT(A) HAS ERRED IN UPSETTING THE A.OS FINDING S QUA DISALLOWANCES AND I.T.A. NO. 894-897/MDS/12 8 ADDITIONS IN QUESTION. THEREFORE, A PRAYER HAS BEE N MADE TO RESTORE THE FINDINGS ARRIVED AT BY THE ASSESSING AUTHORITY IN ALL APPEAL S. 4. THE ASSESSE HAS OPPOSED THE REVENUES SUBMISSION S BY STRONGLY SUPPORTING THE CIT(A)S ORDERS IN ALL CASES. THE A .R. HAS ALSO LAID STRESS ON THE POINT THAT ON ALL BUT ONE ISSUE, THE CO-ORDINATE BE NCHES OF ITAT CHENNAI IN ASSESSEES OWN CASES PERTAINING TO VARIOUS A.YS AS RELIED UPON BY THE CIT(A) HAVE DECIDED THE GROUNDS IN ASSESSEES FAVOUR. PER HIM, EXCEPT GROUND NOS.4.1 TO 4.3 IN ITA NO.896/MDS/2012 PERTAINING TO A.Y. 20 06-07, ALL OTHER GROUNDS ARE COVERED BY VARIOUS DECISIONS OF ITAT CHENNAI. ACCOR DINGLY, HE HAS PRAYED FOR REJECTION OF ALL APPEALS. 5. THE D.R. HAS NOT BEEN ABLE TO SERIOUSLY DISPUTE THE CONTENTION OF THE A.R, NOR THERE HAS BEEN ANY DISTINGUISHING FEAT URE POINTED OUT SO AS TO CONTROVERT THE FACTUAL POSITION NARRATED BY THE A.R . 6. WE HAVE HEARD BOTH SIDES AND ALSO PERUSED THE R ELEVANT FINDINGS OF A.O. AS WELL AS CIT(A) QUA ALL THE A.YS. A GLAN CE OF THE GROUNDS RAISED BY THE REVENUE AS REPRODUCED HEREIN ABOVE MAKES IT ABUNDAN TLY CLEAR THAT EVEN THE REVENUE ADMITS THAT RIGHT FROM A.Y. 2005-06 TO 20 08-09, ALL ITS GROUNDS EXCEPT THAT OF COKE OVER PROJECT IN ITA NO.896/MDS/2012 STAND COVERED BY VARIOUS DECISIONS OF CO-ORDINATE BENCH (SUPRA). THE RE VENUES ONLY CONTENTION IS THAT THE SAME HAVE NOT ATTAINED FINALITY AND ITS APPEALS U/S .260 OF THE ACT I.T.A. NO. 894-897/MDS/12 9 ARE PENDING BEFORE THE HONBLE JURISDICTIONAL HIGH COURT. THIS ITSELF, IN OUR OPINION, DOES NOT FORM BASIS TO DISTURB THE FINDIN GS OF THE CIT(A) AS MERE PENDENCY OF THE APPEAL CANNOT FORM THE BASIS FOR NO T TAKING INTO CONSIDERATION THE OPINION OF THE LEARNED CO-ORDINATE BENCH. HENC E, WE ARE NOT INCLINED TO INTERFERE ON THIS SOLE PLEA. CONSEQUENTLY, EXCEPT GROUND NOS.4.1 TO 4.3 IN ITA 896/MDS/2012, WE UPHOLD THE ORDERS OF CIT(A). 7. COMING TO GROUND NOS.4.1 TO 4.3 IN ITA NO.896/M DS/2012(SUPRA), THE REVENUES CONTENTION IS THAT CIT(A) HAS ERRED I N DELETING ADDITION OF COKE OVER PROJECT EXPENSES OF RS.1,68,39,000/- IN FAVOUR OF THE ASSESSE. THEREFORE, THE D.R. HAS ARGUED THAT THE FINDINGS OF THE ASSESS ING AUTHORITY DESERVE TO BE RESTORED ON THE BASIS OF SUBMISSIONS MADE IN THE GR OUNDS(SUPRA). 8. THE A.R. HAS CHOSEN TO SUPPORT THE CIT(A)S ORD ER AND FINDINGS CONTAINED AND FURTHER ARGUED THAT THE A.O. DID NOT DOUBT THE GENUINENESS OF THE EXPENSES. PER HIM, THE SAME ARE COVERED BY SEC.37 OF THE ACT. TO BUTTRESS HIS SUBMISSION, HE HAS CITED CASE LAW OF INDO RAMA SYNT HETICS V. CIT 185 TAXMAN 277 AS RELIED BY THE CIT(A). 9. SINCE BOTH PARTIES ARE AT VARIANCE IN THEIR RES PECTIVE STANDS, THEREFORE, WE FRAME THE FOLLOWING ISSUE FOR OUR APT CONSIDERATION :- WHETHER THE CIT(A) HAS ERRED IN DELETING ADDITION OF RS.1,68,38,000/- OF COKE OVER PROJECT EXPENSES AS CLAIMED BY THE ASSESSE AS REVENUE EXPENDITURE? I.T.A. NO. 894-897/MDS/12 10 10. WE HAVE HEARD BOTH PARTIES AT CONSIDERABLE LEN GTH AND ALSO PERUSED THE RELEVANT FINDINGS AS WELL AS CASE LAW C ITED. UNDISPUTED FACTS OF THE CASE ARE THAT IN ITS ASSESSMENT OF A.Y. 2006-07, TH E ASSESSE HAD FILED A NOTE ON ABOVE PROJECT EXPENSES IN THE SHAPE OF EXPENDITURE IN ITS MEMO OF INCOME. ITS CONTENTION IN SUPPORT THEREOF WAS THAT THE SAME HAD BEEN INCURRED IN THE NATURE OF SALARIES, TRAVEL EXPENSES, TELEPHONE BILLS, CAR HIRING CHARGES AND PRINTING AND STATIONERY ETC. AS PER ANNUAL REPORT FOR THE YEAR E NDED ON 31.3.2006. 11. THE A.O. DID NOT CONCUR WITH THE ASSESSEES EX PLANATION ON THE GROUND THAT THE SAME SHOULD HAVE BEEN DEBITED IN TH E PROFIT AND LOSS ACCOUNT INSTEAD OF REDUCING IN COMPUTATION OF TOTAL TAXABLE INCOME. FURTHER GROUND WAS THAT THERE WAS LACK OF SUPPORTING EVIDENCE AND SINC E THERE WAS NO INCOME IN THE PROFIT AND LOSS ACCOUNT, THEREFORE, NO ALLOWANCE CO ULD BE CLAIMED. THE A.O. ALSO RELIED ON ASSESSEES ANNUAL REPORT WHILST OBSERVING THAT THE SAME DID NOT DISCUSS ABOUT THE PROJECT IN QUESTION. IN VIEW THEREOF, TH E A.O. DISALLOWED THE ABOVE SAID CLAIM OF RS.1,68,39,000/-. 12. THE ASSESSE CARRIED FURTHER THE MATTER IN APPE AL WHEREIN THE CIT(A) HAS ACCEPTED THE ASSESSEES ARGUMENTS BY HOL DING THAT THE EXPENSES IN QUESTION ARE IN THE SHAPE OF REVENUE EXPENDITURE BE ING CLAIMED IN THE COMPUTATION OF INCOME WITHOUT DEBITING IN THE P&L A CCOUNT. THE CIT(A) WHILE I.T.A. NO. 894-897/MDS/12 11 ALLOWING THE APPEAL HAS ALSO DRAWN SUPPORT FROM HON BLE DELHI HIGH COURT DECISION IN THE CASE OF INDO RAMA SYNTHETICS (SUPRA ). 13. AFTER HAVING CAREFULLY PERUSED THE RELEVANT FI NDINGS AS WELL AS THE RELEVANT CASE LAW CITED, WE ARE OF THE OPINION THAT THERE IS NO DISPUTE REGARDING LEGALITY OF THE EXPENSES IN QUESTION. EVEN THE A.O . HAS NOT DOUBTED THE ALLOWABILITY, AS SUCH IN PRINCIPLE. THE HONBLE DE LHI HIGH COURTS JUDGMENT(SUPRA) HOLDING THAT EXPENSES IN THE NATURE OF SALARY ETC. INCURRED IN SETTING UP OF THE UNIT WHICH IS ULTIMATELY ABANDONE D IS ALLOWABLE AS REVENUE EXPENDITURE ALSO SQUARELY COVERS THE LEGALITY ISSUE . HOWEVER, WE NOTICE THAT NEITHER FROM THE ASSESSMENT ORDER NOR THAT OF CIT(A )S ORDER IT IS FORTHCOMING AS TO WHETHER THE ASSESSEE HAS PROVED DETAILS OF EXPEN DITURE. FURTHER, NOTHING IS COMING OUT WHETHER THE ASSESSEE HAD SUBSTANTIATED I TS CLAIM. ACCORDINGLY, FOR THIS LIMITED PURPOSE, WE DEEM IT APPROPRIATE TO RES TORE THE GROUNDS 4.1 TO 4.3 OF ITA NO.896/MDS/2012 FOR A.Y. 2006-07 TO THE FILE OF THE A.O. WHO SHALL DECIDE THE ISSUE AFRESH IN ACCORDANCE WITH LAW, AFTER GIVI NG ADEQUATE OPPORTUNITY OF HEARING TO THE ASSESSE WHO WOULD ALSO BE AT LIBERTY TO LEAD COGENT EVIDENCE IF ANY IN SUPPORT OF ITS CLAIM. I.T.A. NO. 894-897/MDS/12 12 14. TO SUM UP, ITA NOS.895,897 & 894-/MDS/2012 ARE DISMISSED AND ITA NO.896/MDS/2012 IS PARTLY ALLOWED FOR STATISTIC AL PURPOSE. 15. ORDER PRONOUNCED IN THE OPEN COURT ON MONDAY, THE 10 TH DAY OF SEPTEMBER 2012. SD/- SD/- (ABRAHAM P. GEORGE) ( S.S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER CHENNAI DATED : 10 TH SEPTEMBER 2012 JLS. COPY TO:- (1) APPELLANT (2) RESPONDENT (3) CIT(A)-II, COIMBATORE (4) CIT-III, COIMBATORE (5) D.R. (6) GUARD FILE