VSL WIRES LTD, V. ACIT CEN CIR 18 & 19,

MA 344/MUM/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 2565 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-10-2014
• Appeal Filed By: Assessee
• Bench Allotted: F
• Assessment Year: 2004-2005
• Appeal Filed On: 15-07-2014
• Court: TRIBUNAL
• Department Lawyers: VIVEK BATRA
• Assessee Lawyers: BHUMIKA VORA
• Keywords: Opportunity of being heard
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, M UMBAI BEFORE SHRI VIJAY PAL RAO, JUDICIALMEMBER AND SHRI RAJENDRA, ACCOUNTANT MEMBER MA NO. 344/MUM/2014 ARISING OUT OF ITA 493/MUM/2014 ASSESSMENT YEAR:- 2004-05 M/S VSL WIRES LTD. 10, IMPERIAL CHAMBERS, WILSON ROAD, BALLARD ESTATE, MUMBAI 400 038 VS. ASST. CIT, CENTRAL CIRCLE 18&19, AAYAKAR BHAVAN M.K. ROAD MUMBAI. PAN: - AAACV - 2362 - A APPELLANT RESPONDENT APPELLANT BY MS. BHUMIKA VORA RESPONDENT BY SHRI VIVEK BATRA ORDER PER VIJAY PAL RAO, JM THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE IS D IRECTED AGAINST THE ORDER DATED 9.3.2011 OF THIS TRIBUNAL WHEREBY THE A PPEAL OF THE ASSESSEE WAS DISPOSED OFF. 2. WE HAVE HEARD THE LD. AR AS WELL AS LD. DR AND C ONSIDERED THE RELEVANT MATERIAL ON RECORD. THE LD. AUTHORIZED REPRESENTATI VE OF THE ASSESSEE HAS SUBMITTED THAT WHILE DECIDING THE GROUND NO. 1(A) T O (F ), THE TRIBUNAL IN PARA 9 DATE OF HEARING 17.10.2014 DATE OF PRONOUNCEMENT 17.10.2014 M/S M/S M/S M/S VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. 2 | P A GE AND 10 OF THE IMPUGNED ORDER HAS REMITTED THE ISSUE OF DEDUCTION U/S 80HHC INCLUDING THE CLAIM OF DEPB BY FOLLOWING THE JUDGME NT OF HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOUR S AND CHEMICALS ( 328 ITR 451). THE LD. AUTHORIZED REPRESENTATIVE HAS SUBMITT ED THAT THE SAID JUDGMENT OF HON'BLE JURISDICTIONAL HIGH COURT HAS BEEN OVER RULED BY THE HON'BLE SUPREME COURT IN THE CASE OF TOPMAN EXPORTS VS. CI T (342 ITR 49). THEREFORE, THERE IS A MISTAKE APPARENT IN THE IMPUGNED ORDER O F THE TRIBUNAL TO THE EXTENT OF FINDING IN PARA 9 & 10. 3. THE LD. DR HAS NOT DISPUTED THE FACT THAT THE JU DGMENT OF HON'BLE JURISDICTIONAL HIGH COURT HAS BEEN REVERSED BY THE HON'BLE SUPREME COURT AND CONSEQUENTLY THE MISTAKE CREPT IN THE IMPGUNED ORDE R IS REQUIRED TO BE RECTIFIED. 4. HAVING CONSIDERED THE RIVAL SUBMISSIONS AND CARE FUL PERUSAL OF THE RECORD, WE NOTE THAT WHILE DECIDING THE GROUND NO. 1(A) TO (F) OF THE ASSESSEES APPEAL, THE TRIBUNAL HAS SET ASIDE THE ISSUE BY FOL LOWING THE JUDGMENT OF HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CI T VS. KALPATARU COLOURS AND CHEMICALS (SUPRA) IN PARA 9&10 AS UNDER:- 9. AT THE TIME OF HEARING, BOTH THE PARTIES HAVE AG REED THAT THIS ISSUE STANDS COVERED BY THE RECENT JUDGMENT OF THE HON'BLE JURISD ICTIONAL HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS & CHEMICALS (201) 192 TAXMAN 435 (BOM) AND ALSO AGREED THAT THE MATTER MAY BE RESTORED BACK TO THE FILE OF ASSESSING OFFICER WITH A DIRECTIO TO RECONSIDER THE ISSUE IN THE LIGH T OF THE VIEW TAKEN IN THE AFORECITED DECISION. 10. THAT BEING SO AND IN THE ABSENCE OF ANY CONTRARY MATERIAL PLACED ON RECORD BY THE ASSESSEE, WE RESPECTFULLY FOLLOWING THE JUDGMEN T OF THE HON'BLE JURISDICTIONAL HIGH COURT (SUPRA), SET ASIDE THE ORDERS PASSED BY THE REVENUE AUTHORITIES ON THIS ISSUE AND DIRECT THE A.O. TO RE-CONSIDER THE C LAIM OF THE ASSESSEE IN M/S M/S M/S M/S VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. 3 | P A GE ACCORDANCE WITH LAW I.E. IN THE LIGHT OF THE RECENT DECISION IN THE CASE OF CIT VS. KALPATARU COLOURS & CHEMICALS (SUPRA) AFTER PROVIDI NG REASONABLE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. THE GROUNDS TAKEN BY THE ASSESSEE ARE THEREFORE PARTLY ALLOWED FOR STATISTICAL PURPOSE. 5. SINCE THE SAID JUDGMENT OF HON'BLE JURISDICTIONA L HIGH COURT HAS BEEN REVERSED BY THE HON'BLE SUPREME COURT IN (342 ITR 49), CONSEQUENTLY, THE APPARENT MISTAKE HAS CREPT IN THE IMPUGNED ORDER SO FAR AS IT RELATES TO THE FINDING ON THE GROUND NO. 1(A) TO (F) IN PARA 9& 10 WHICH REQUIRES TO BE RECTIFIED. ACCORDINGLY WE MODIFY THE IMPUGNED ORDER TO THE EXTENT OF PARA 9&10 AS UNDER:- THE ISSUE OF DEDUCTION U/S 80HHC INCLUSIVE OF DEPB LICENSE IS NOW COVERED BY THE JUDGMENT OF HON'BLE SUPREME COURT IN THE CAS E OF TOPMAN EXPORTS VS. CIT (SUPRA), ACCORDINGLY, THE ISSUE IS SET ASID E TO THE RECORD OF ASSESSING OFFICER TO RECONSIDER THE CLAIM OF DEDUCTION U/S 80 HHC IN THE LIGHT OF JUDGMENT OF HON'BLE SUPREME COURT IN THE CASE OF TO PMAN EXPORTS VS. CIT (SUPRA) AFTER PROVIDING A REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. 6. IN THE RESULT MISCELLANEOUS APPLICATION OF THE A SSESSEE IS ALLOWED ORDER PRONOUNCED IN THE OPEN COURT ON THIS 17 TH DAY OF OCTOEBR 2014 SD/- SD/- ( RAJENDRA ) (VIJAY PAL RAO) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI DATED 17-10-2014 SKS SR. P.S, M/S M/S M/S M/S VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. VSL WIRES LTD. 4 | P A GE COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CONCERNED CIT(A) 4. THE CONCERNED CIT 5. THE DR, F BENCH, ITAT, MUMBAI BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI