DCIT, Coimbatore V. M/s. GVG Industries P Ltd., Udamalpet

ITA 97/CHNY/2014

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 77348 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2014
• Appeal Filed By: Department
• Bench Allotted: C
• Next Hearing Date: 19-06-2014
• Assessment Year: 2010-2011
• Appeal Filed On: 10-01-2014
• Court: TRIBUNAL
• Department Lawyers: N MADHAVAN
• Assessee Lawyers: A DHANANJAYAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHE NNAI . . . , ! , ' # $ BEFORE DR. O.K. NARAYANAN, VICE PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER . / I.T.A. NO. 97/MDS/2014 / ASSESSMENT YEAR : 2010-11 DEPUTY COMMISSIONER OF INCOME TAX, SALARY CIRCLE-I, COIMBATORE ( !% /APPELLANT) VS M/S.G.V.G.INDUSTRIES PVT. LTD., 54/2, JOTHI NAGAR, UDUMALPET-642 128 [PAN: AAACG 1205 E] ( &'!% /RESPONDENT) REVENUE BY : SHRI N.MADHAVAN, JCIT ASSESSEE BY : SHRI A.DHANANJAYAN, CA / DATE OF HEARING : 19-06-2014 / DATE OF PRONOUNCEMENT : 19-06-2014 #( / O R D E R PER VIKAS AWASTHY, J.M: THE APPEAL HAS BEEN FILED BY THE REVENUE ASSAILING THE ORDER OF COMMISSIONER OF INCOME TAX(APPEALS)-II, CO IMBATORE DATED 30-10-2013 RELEVANT TO THE ASSESSMENT YEAR (A Y) 2010-11. 2. THE ONLY ISSUE RAISED IN THE APPEAL BY REVENUE I S, ELIGIBILITY OF ASSESSEE IN CLAIMING DEDUCTION U/S.80IA(5) OF TH E INCOME TAX ACT, 1961 (HEREIN AFTER REFERRED TO AS THE ACT) A ND DETERMINATION I.T.A. NO. 97/MDS/2014 2 OF INITIAL AY. IN THE RETURN OF INCOME FOR THE AY UNDER CONSIDERATION, THE ASSESSEE HAS CLAIMED DEDUCTION U /S.80IA IN RESPECT OF INCOME GENERATED FROM WIND MILLS. DURIN G THE COURSE OF ASSESSMENT PROCEEDINGS, THE AR OF THE ASSESSEE STAT ED THAT THE ASSESSEE IS ELIGIBLE FOR DEDUCTION U/S.80IA IN VIEW OF THE JUDGMENT OF THE HON'BLE MADRAS HIGH COURT IN THE CASE OF SRI VELAYUDHASAMY SPINNING MILLS PVT. LTD., REPORTED AS 231 CTR 368. THE ASSESSING OFFICER REJECTED THE CLAIM OF THE ASS ESSEE ON THE GROUND THAT THE ISSUE HAS NOT ATTAINED FINALITY AS THE DEPARTMENT HAS PREFERRED SLP BEFORE THE HON'BLE SUPREME COURT O F INDIA ASSAILING THE ORDER OF THE HON'BLE HIGH COURT IN THE CASE OF SRI VELAYUDHASAMY SPINNING MILLS PVT. LTD (SUPRA). AGGRIEVED BY THE ASSESSMENT ORDER DT.09-02-2013, TH E ASSESSEE PREFERRED AN APPEAL BEFORE THE CIT(APPEALS ). THE CIT(APPEALS) PLACED RELIANCE ON THE DECISION OF THE JURISDICTIONAL HIGH COURT IN THE CASE OF SRI VELAYUDHASAMY SPINNING MILLS PVT. LTD (SUPRA) AND ALLOWED THE APPEAL OF THE ASSESSEE. NO W, THE REVENUE HAS COME IN APPEAL BEFORE THE TRIBUNAL. 3. WE HAVE HEARD THE SUBMISSIONS MADE BY THE REPRESENTATIVES OF BOTH THE SIDES AND HAVE PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WE FIND THAT THE ISSUE IN A PPEAL IS SQUARELY I.T.A. NO. 97/MDS/2014 3 COVERED BY THE DECISION OF THE JURISDICTIONAL HIGH COURT IN THE CASE OF SRI VELAYUDHASAMY SPINNING MILLS PVT. LTD (SUPRA). THERE IS NO MERIT IN THE APPEAL OF THE REVENUE, THE SAME IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON THURSDAY, THE 19 TH JUNE, 2014 AT CHENNAI. SD/- SD/- ( . . . ) ( ! ) (DR. O.K. NARAYANAN) (VIKAS AWAS THY) / VICE PRESIDENT ! / JUDICIAL MEMBER '# /CHENNAI, $ /DATED: 19 TH JUNE, 2014 TNMM #% & '( )#( /COPY TO: 1. *+ /APPELLANT 2. &,*+ /RESPONDENT 3. - () /CIT(A) 4. - /CIT 5. (01 & 2 /DR 6. 13 4 /GF