M/s Deepak Fasteners Ltd., Ludhiana V. JCIT (OSD), Ludhiana

MA 48/CHANDI/2013

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0788 (ITAT-CHANDIGARH)
• Duration Of Justice: 3 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-09-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 17-06-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: K S SHALLY
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH A, CHANDIGARH BEFORE SHRI T.R. SOOD, A.M AND MS. SUSHMA CHOWLA, JM MISC. APPLICATIONS NO. 47 & 48/CHD/2013 ARISING OUT ITAS NO. 102 & 103/CHD/2012 ASSESSMENT YEAR : 2002-03 & 2003-04 DEEPAK FASTNERS LTD. VS. J.C.I.T. (OSD) LUDHIANA CIRCLE I, LUDHIANA (APPELLANT) (RESPONDENT) APPELLANT BY SHRI K.S. SHALLY RESPONDENT BY: SHRI AKHILESH GUPTA DATE OF HEARING 6.9.2013 DATE OF PRONOUNCEMENT 20.9.2013 O R D E R PER T.R.SOOD, A.M THROUGH THESE MISC. APPLICATIONS THE ASSESSEE HAS SOUGHT RECALLING OF THE ORDER OF THE TRIBUNAL IN IT AS NO. 102 & 103/CHD/2012. 2 THE LD. COUNSEL OF THE ASSESSEE SUBMITTED THAT TH E REVENUES APPEALS HAVE BEEN DECIDED BY AN EX-PARTE BASIS. HE SUBMITTED THAT AN ADJOURNMENT APPLICATION WAS MOVED AND ASSESSEE SHOULD HAVE BEEN ALLOWED AN EFFECTIVE OPPO RTUNITY OF HEARING. HOWEVER, HE COULD NOT POINT OUT ANY ERROR IN THE ORDER OF THE TRIBUNAL. 3 ON THE OTHER HAND, THE LD. DR FOR THE REVENUE ST RONGLY SUPPORTED THE ORDER OF TRIBUNAL. 4 AFTER CONSIDERING THE RIVAL SUBMISSIONS WE FIND THAT THE ISSUES WERE DECIDED IN TERMS OF THE DECISION OF HON 'BLE SUPREME COURT IN CASE OF TOPMAN EXPORTS VS. CIT, 67 DTR 81 VIDE PARA 5 OF THE ORDER WHICH IS AS UNDER: 5. AFTER CONSIDERING THE SUBMISSIONS OF THE LD. DR FOR THE REVENUE AND THE RELEVANT MATERIAL ON RECORD, WE FIN D THAT THE ISSUE PERTAINS TO DEDUCTION U/S 80HHC IN RESPECT OF SALE PROCEEDS OF DEPB. ORIGINALLY WHEN THE ISSUE TRAVEL ED BEFORE THE TRIBUNAL, THE TRIBUNAL SET ASIDE THE MATTER BAC K TO THE FILE OF ASSESSING OFFICER IN VIEW OF THE DECISION OF SPE CIAL BENCH OF THE TRIBUNAL IN CASE OF TOPMAN EXPORTS V ITO IN ITA NO. 5769/M/2006. HOWEVER, LATER ON THIS DECISION WAS R EVERSED 2 BY THE HON'BLE BOMAY HIGH COURT IN CASE OF M/S KALP TARU COLOURS AND CHEMICALS V CIT IN ITA NO. 5851/M/2006 AND THEREFORE, THE ASSESSING OFFICER DID NOT GRANT ANY RELIEF. WHEN THE MATTER TRAVELED TO THE LD. CIT(A), SOME OT HER CONTROVERSIES WERE ALSO RAISED. THE LD. CIT(A) ALL OWED THE RELIEF ON THE BASIS THAT SINCE THE APPEALS OF THE A SSESSEE WERE PENDING BEFORE HON'BLE PUNJAB & HARYANA HIGH C OURT AND THEREFORE, NO PROCEEDINGS WERE PENDING BEFORE THE ASSESSING OFFICER AND HE COULD NOT GIVE APPEAL EFF ECT IN SUCH CIRCUMSTANCES. HOWEVER, IT IS ADMITTED THAT THE IS SUE PERTAINS ONLY TO THE DEDUCTION U/S 80HHC IN RESPECT OF DEPB LICENSE SALE PROCEEDS. THIS ISSUE HAS BEEN FINALLY DECIDED BY HON'BLE SUPREME COURT IN CASE OF TOPMAN EXPORTS V CIT, 67 D TR 81 WHERE IN THE DECISION OF SPECIAL BENCH OF THE TRIBU NAL IN CASE OF TOPMAN EXPORTS (SUPRA) HAS BEEN CONFIRMED. THER EFORE, WE SET ASIDE THE ORDER OF LD. CIT(A) AND REMIT THE MATTER BACK TO THE FILE OF ASSESSING OFFICER WITH A DIRECTION T O DECIDE THE ISSUE IN LIGHT OF THE DECISION OF HON'BLE SUPREME C OURT IN CASE OF TOPMAN EXPORTS (SUPRA). FROM ABOVE IT IS NOTED THAT THERE IS NO ERROR IN TH E ORDER OF THE TRIBUNAL AND NO ERROR HAS BEEN POINTED OUT BY THE L D. COUNSEL OF THE ASSESSEE. ACCORDINGLY WE DISMISS THESE MISC . APPLICATIONS OF THE ASSESSEE. 5 IN THE RESULT, BOTH THE MISC. APPLICATIONS OF TH E ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20.9.2013 SD/- SD/- (SUSHMA CHOWLA) (T.R. SOOD) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 20.9.2013 SURESH COPY TO: THE APPELLANT/THE RESPONDENT/THE CIT/THE C IT(A)/THE DR