M/s. Lakshmi Technology and Engineering Industries Ltd., Coimbatore V. ACIT, Coimbatore

ITA 980/CHNY/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 64240 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 04-09-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 06-06-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ANUPAMA SHUKLA IRS
• Assessee Lawyers: K RAGHU
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENT AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER ITA NO.980(MDS)/2011 ASSESSMENT YEAR : 2006-07 M/S. LAKSHMI TECHNOLOGY AND ENGINEERING INDUSTRIES LTD., 20, SITRA-KALAPATTI ROAD, KALAPATTI, COIMBATORE-641 048. PAN AAACL5245P. VS. THE ASSISTANT COMMISSIONER OF INCOME-TAX, COMPANY CIRCLE I(1), COIMBATORE. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI K. RAGHU, FCA RESPONDENT BY : MS. ANUPAMA SHUKLA, IRS, CIT DATE OF HEARING : 4 TH SEPTEMBER, 2012 DATE OF PRONOUNCEMENT : 4 TH SEPTEMBER, 2012 O R D E R PER DR.O.K.NARAYANAN, VICE PRESIDENT THIS IS A REVISION APPEAL FILED BY THE ASSESSEE. THE RELEVANT ASSESSMENT YEAR IS 2006-07. THE APPEAL IS DIRECTED AGAINST SECTION 263 ORDER DATED 24-3-2011, PASSED B Y THE COMMISSIONER OF INCOME-TAX-I AT COIMBATORE. - - ITA 980 OF 2011 2 2. WHEN THIS MATTER WAS TAKEN UP FOR HEARING, THE LEARNED CHARTERED ACCOUNTANT, WHO APPEARED FOR THE ASSESSEE, SUBMITTED THAT THE CONSEQUENTIAL ORDER HAS BEEN PAS SED BY THE ASSESSING AUTHORITY AND ACCEPTED THE CONTENTIONS OF THE ASSESSEE EXCEPT FOR SUSTAINING A NOMINAL ADDITION T OWARDS EXPENDITURE PERTAINING TO DIVIDEND INCOME. IN THES E CIRCUMSTANCES, HE SUBMITTED THAT HE IS NOT PRESSING THE APPEAL. ACCORDINGLY, THIS APPEAL IS DISMISSED AS NOT PRESSE D. ORDERS PRONOUNCED IN THE OPEN COURT AT THE TIME O F HEARING ON TUESDAY, THE 4 TH OF SEPTEMBER, 2012 AT CHENNAI. SD/- SD/- (CHALLA NAGENDRA PRASAD) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED, THE 4 TH SEPTEMBER, 2012. V.A.P. COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR 6. GF.