ACIT, Circle 1(3), Hyderabad V. M/s Bhrigur Software India Pvt. Ltd., Hyderabad

MA 192/HYD/2010

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8029 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 7 month(s) 16 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-04-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: misc
• Appeal Filed On: 03-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAO
• Assessee Lawyers: P MURALI MOHANA RAO
• Keywords: Additional evidence
• Section: 10B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER M.A. NO. 192/HYD/2010 ARISING OUT OF ITA NO. 665/HYD/2007 (ASSESSMENT YEAR : 2004-05) ASST. COMMISSIONER OF INCOME-TAX, CIRCLE-1(3) HYDERABAD VS. M/S. BHRIGUS SOFTWARE INDIA PVT. LTD., HYDERABAD PAN: AACCB0105G APPELLANT RESPONDENT APPELLANT BY: SHRI M.S. RAO RESPONDENT BY: SHRI P. MURALI MOHANA RAO DATE OF HEARING: 2 0.0 4 .2012 DATE OF PRONOUNCEMENT: 20 .0 4 .2012 O R D E R PER CHANDRA POOJARI, AM: THIS MISCELLANEOUS APPLICATION (MA) IS BY THE DEPA RTMENT SEEKING RECTIFICATION IN THE ORDER OF THE TRIBUNAL DATED 30 TH OCTOBER, 2009. 2. THE LEARNED DR SUBMITTED THAT THE TRIBUNAL WHILE DE LIVERING THE DECISION PLACED RELIANCE ON THE ORDER OF THE TR IBUNAL IN THE CASE OF IDEAL CARPETS LTD. VS. ITO (10 DTR 551) WIT HOUT ALLOWING PROPER OPPORTUNITY TO THE DEPARTMENT TO PUT FORTH C OUNTER VIEW ON THE POINT. 3. THE LEARNED AR RELIED ON THE ORDER OF THE TRIBUNAL. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. THE TRIBUNAL WHILE DECIDING THE ISSUE OF D EDUCTION U/S. 10B OF THE ACT, HELD THAT THE ASSESSEE RECEIVED THE SALE PROCEEDS IN FOREIGN CURRENCY IN FULL, EVEN THOUGH BELATEDLY, TH E ASSESSEE IS ENTITLED TO DEDUCTION U/S. 10B OF THE ACT IN RESPEC T OF EXPORT PROCEEDS. THE TRIBUNAL WHILE HOLDING SO, PLACED RE LIANCE ON THE M.A. NO. 192/HYD/2010 M/S. BHRIGUS SOFTWARE INDIA PVT. LTD. ============================ 2 ADDITIONAL EVIDENCE FILED BY THE ASSESSEE'S COUNSEL AS PER WHICH THE ASSESSEE RECEIVED A LETTER DATED 1.7.2009 FROM THE AUTHORISED DEALER, INFORMING THAT THE AUTHORISED DEALER HAS RE CTIFIED THE ASSESSEE'S DELAYED SUBMISSION OF EXPORT BILLS AND A LSO REMITTANCE AND THUS CONDONED THE DELAY IN REALISATION OF THE E XPORT PROCEEDS. LATER THE TRIBUNAL CALLED FOR A REMAND REPORT FROM THE ASSESSING OFFICER AND IN THE REMAND REPORT THE ASSESSING OFFI CER SUBMITTED THAT THE LETTER DATED 1.7.2009 WHICH WAS OBTAINED B Y THE ASSESSEE FROM THE AUTHORISED DEALER CANNOT BE SAID TO BE A G ENUINE EVIDENCE IN SUPPORT OF THE ASSESSEE'S CLAIM THAT THE AUTHORI SED DEALER HAS RECTIFIED THE DELAY IN SUBMISSION OF EXPORT BILLS A ND ALSO REALISATION OF EXPORT PROCEEDINGS. IT WAS ALSO OBSERVED BY THE TRIBUNAL THAT THE AUTHORISED DEALER AS PER THE POWER DELEGATED TO IT BY THE RESERVE BANK OF INDIA VIDE MASTER CIRCULAR DATED 1. 7.2005, THE AUTHORISED DEALER ISSUED THE LETTER WHEREIN THE AUT HORISED DEALER RECTIFIED THE ASSESSEE'S DELAYED SUBMISSION OF EXPO RT BILLS AND ALSO REMITTANCES AND THEREBY CONDONING THE DELAY IN REAL ISATION OF THE EXPORT PROCEEDS AND ACCORDINGLY, THE DEDUCTION U/S. 10B WAS GRANTED. WHILE GRANTING THE DEDUCTION U/S. 10B, TH E TRIBUNAL TAKEN SUPPORT OF THE JUDGEMENT IN THE CASE OF IDEAL CARPETS LTD. VS. ITO (10 DTR 551). BEING SO, WE DO NOT FIND ANY MERIT IN THE MA FILED BY THE DEPARTMENT AND THE SAME IS DISMISSE D. 5. IN THE RESULT, THE MA FILED BY THE DEPARTMENT IS DI SMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH APRIL, 2011. SD/ - (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED THE 20 TH APRIL, 2012 M.A. NO. 192/HYD/2010 M/S. BHRIGUS SOFTWARE INDIA PVT. LTD. ============================ 3 COPY FORWARDED TO: 1. THE ASST. COMMISSIONER OF INCOME - TAX, CIRCLE - 1(3), HYDERABAD. 2. M/S. BHRIGUS SOFTWARE INDIA PVT. LTD., Q - 2 - A - 1, CYBER TOWERS, MADHAPUR, HYDERABAD. 3. THE CIT (A) - I I , HYDERABAD. 4. THE CIT - I, HYDERABAD. 5. THE DR B BENCH, ITAT, HYDERABAD TPRAO