TOKYO PLAST INTERNAITIONAL LTD, V. DCIT RG 8(3) RG 8(3),

MA 330/MUM/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 9415 (ITAT-MUMBAI)
• Duration Of Justice: 4 month(s) 8 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-10-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 28-09-2012
• Assessment Year: 1999-2000
• Appeal Filed On: 25-05-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: I P RATHI
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI E BENCH MUMBAI BENCHES, MUMBAI BEFORE SHRI VIJAY PAL RAO, JM & SHRI RAJENDRA, AM MISCELLANEOUS APPLICATION NO. 330/MUM/2012 ARISING OUT OF ITA NO. 1177/MUM/2010 (ASST YEAR 1999-00 ) TOKYO PLAST INTERNATIONAL LTD 102 THOSAR HOUSE HANUMAN CROSS ROAD NO.1 VILLE PARLE (E) MUMBAI 57 VS THE DY COMMR OF INCOME TAX RANGE 8(3), MUMBAI (APPLICANT) (RESPONDENT) PAN NO. AAACT1985E ASSESSEE BY SH I P RATHI REVENUE BY SH N K MEHTA DT.OF HEARING 28 TH SEPT 2012 DT OF PRONOUNCEMENT 3 RD OCT 2012 PER VIJAY PAL RAO, JM THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 13.7.2011 OF THIS TRIBUNAL WHEREBY THE ISSUE RAISED BY THE REVENUE IN RESPECT OF DEDUCTION U/S 80HHC ON THE EXPORT INCENTIVE IN THE FORM OF DEPB LICENSE WAS DECIDED IN FAVOUR OF THE REVENUE AND AGAINST THE AS SESSEE BY FOLLOWING THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CAS E OF COMMISSIONER OF INCOME-TAX V. KALPATARU COLOURS AND CHEMICALS REPORTED IN 328 ITR 451(BOM). 2 NOW, THE ASSESSEE HAS POINTED OUT THAT THE HONBL E SUPREME COURT HAS REVERSED THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF KALPATARU COLOURS AND CHEMICALS (SUPRA) WHILE DECID ING THE APPEAL IN THE CASE OF TOPMAN EXPORTS V. COMMISSIONER OF INCOME-TAX REPOR TED IN 342 ITR 49 (SC) AND SUBMITTED THAT IN VIEW OF THE LATEST DECISION OF TH E HONBLE SUPREME COURT ON THE MA NO.330/M/2012 TOKYO PLAST INTERNATIONAL LTD 2 ISSUE, WHEREBY THE DECISION OF THE HONBLE JURISDIC TIONAL HIGH COURT HAS BEEN REVERSED; A MISTAKE HAS BEEN CREPT IN THE IMPUGNED ORDER OF THE TRIBUNAL. 2.1 ON THE OTHER HAND, THE LD DR HAS NOT DISPUTED THE LATEST LAW LAID DOWN BY THE HONBLE SUPREME COURT ON THIS ISSUE. 3 AFTER CONSIDERING THE RIVAL SUBMISSIONS AND IN VI EW OF THE LATEST DECISION OF THE HONBLE SUPREME COURT IN THE CASE OF TOPMAN EXPORTS (SUPRA), WE ARE OF THE VIEW THAT THERE IS A MISTAKE APPARENT FROM THE RECORD WH ICH COULD BE RECTIFIED UNDER SECTION 254(2) OF THE I T ACT. ACCORDINGLY, WE REC ALL THE IMPUGNED ORDER OF THIS TRIBUNAL. 3.1 SINCE THE COMMISSIONER OF INCOME TAX(APPEALS) H AS ALLOWED THE CLAIM OF THE ASSESSEE BY FOLLOWING THE DECISION OF THE SPECIAL B ENCH OF THIS TRIBUNAL IN THE CASE OF TOPMAN EXPORTS V. INCOME-TAX OFFICER REPORTED IN 31 8 ITR 87 (MUM), WHICH HAS BEEN CONFIRMED BY THE HONBLE SUPREME COURT; THEREFORE, FOLLOWING THE DECISION OF THE HONBLE SUPREME COURT, WE FIND NO REASON TO INTERFE RE WITH THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS) ON THIS ISSUE. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 3.2 SINCE THE CROSS OBJECTIONS ARE IN SUPPORT OF TH E ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS); THEREFORE, THE SAME HAS BECOME INFRUCTUOUS. 4 IN THE RESULT, THE MISCELLANEOUS APPLICATION FILE D BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 3 RD DAY OF OCT 2012. SD/- SD/ ( RAJENDRA ) ACCOUNTANT MEMBER ( VIJAY PAL RAO ) JUDICIAL MEMBER PLACE: MUMBAI : DATED: 3 RD OCT 2012 RAJ* MA NO.330/M/2012 TOKYO PLAST INTERNATIONAL LTD 3 COPY FORWARDED TO: 1 APPELLANT 2 RESPONDENT 3 CIT 4 CIT(A) 5 DR /TRUE COPY/ BY ORDER DY /AR, ITAT, MUMBAI