Nekkanti Sea Foods Ltd, Hyderabad, Hyderabad V. DCIT, Circle-16(1), Hyderabad, Hyderabad

MA 31/Hyd/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5775 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 03-05-2019
• Assessment Year: 2002-2003
• Appeal Filed On: 20-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S RAMA RAO
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER MA NOS. 31, 32 & 33/H/2019 (ARISING OUT OF ITA NOS.1627, 1628 & 1634/HYD/2016 ASSESSMENT YEARS: 2002 - 03, 2004 - 05 & 1999 - 2000) M/S. NEKKANTI SEA FOODS LIMITED, HYDERABAD. PAN: AAACN 4664 J VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE - 16(1), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI S. RAMA RAO REVENUE BY: SRI M.N. MURTHY NAIK, DR DATE OF HEARING: 03/05/2019 DATE OF PRONOUNCEMENT: 10 /05/2019 ORDER PER SMT. P. MADHAVI DEVI, J.M.: ALL THESE MISCELLANEOUS APPLICATIONS (MAS) ARE FILED BY THE ASSESSEE U/S 254(2) OF THE ACT SEEKING RECTIFICATION IN PARA 8 OF THE ORDER OF THE TRIBUNAL DATED 31/10/2018. 2. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT LAST LINE OF PARA 8 OF THE TRIBUNALS ORDER NEEDS RECTIFICATION SINCE IT IS AGAINST THE DECISION OF THE HONBLE SUPREME COURT AND IT WOULD SUFFICE IF THE TRIBUNAL DIRECTS THE A.O. TO RE - COMPUTE THE DEDUCTION U/S 80HHC IN ACCORDANCE WITH JUDICIAL PRECEDENTS ON THE ISSUE. 2 3. AFTER TAKING THE RIVAL CONTENTIONS INTO CONSIDERATION, WE AGREE WITH THE CONTENTION OF THE LEARNED COUNSEL FOR THE ASSESSEE AND THEREFORE WE SUBSTITUTE PARA 8 ACCORDINGLY AS FOLLOWS: 8. WE FIND THAT THE ISSUE IS THEREFORE, COVERED BY THE ABOVE DECISIONS AND RESPECTFULLY FOLLOWING THE SAME, THE ADDITIONAL GROUND OF APPEAL RAISED BY THE ASSESSEE IS ALLOWED AND CONSEQUENTLY, WE DIRECT THE A.O. TO RECOMPUTE THE DEDUCTION U/S 80HHC IN ACCORDANCE WITH THE JUDICIAL PRECEDENTS ON THE ISSUE. 4. ACCORDINGLY, MAS FILED BY THE ASSESS EE IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON 10 TH MAY, 2019. SD/ - SD/ - (S. RIFAUR RAHMAN) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 10 TH MAY , 2019 OKK COPY TO: - 1) SHRI S. RAMA RAO, ADVOCATE, FLAT NO. 102, SHRIYAS ELEGANCE, 3 - 6 - 643, STREET NO.9, HIMAYATNAGAR, HYDERABAD - 500029. 2) DY. CIT, CIRCLE - 16(1), IT TOWERS, AC GUARDS, HYDEABAD. 3) THE CIT(A) - 4, HYDERABAD 4) THE PR. CIT - 4, HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE