The Deputy Commissioner of Income tax, Pathankot V. M/s. Makan Cement Industries, Pathankot

MA 55/ASR/2013

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0747 (ITAT-AMRITSAR)
• Duration Of Justice: 5 month(s) 22 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-08-2013
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2003-2004
• Appeal Filed On: 06-03-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AMRIK CHAND
• Section: 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P. JAIN, ACCOUNTANT MEMBER M.A. NO. 55(ASR)/2013 [IN I.T.A. NO. 541(ASR)/2011] ASSESSMENT YEAR: 2003-04 PAN: AAFFM7968Z THE DY. COMMISSIONER OF VS. M/S MAKEN CEMENT IN DUSTRIES INCOME TAX, CIRCLE, KATHUA, H.Q. WARE HOUSE, PATHANKOT PATHANKOT (APPELLANT) (RESPONDENT) ASSESSEE BY: SH. TEJ MOHAN SINGH, ADVOCATE DEPARTMENT BY: SH. AMRIK CHAND, DR DATE OF HEARING: 23.08.2013 DATE OF PRONOUNCEMENT: 26.08.2013 ORDER PER BENCH 1) THE ASSESSEE HAS FILED THE PRESENT MISCELL ANEOUS APPLICATION UNDER SECTION 254(2) OF THE INCOME-TAX ACT, 1961 (I N SHORT THE ACT) FOR RECTIFICATION IN THE ORDER DATED 12.09.2012 PASSED BY THIS BENCH, WHEREBY 2 M.A. NO. 55(ASR)/2013 (IN I.T.A. NO. 541(A SR)/2011) THIS BENCH HAS PARTLY ALLOWED THE APPEAL FILED BY T HE REVENUE AND DECIDED THE ISSUE OF TRANSPORT SUBSIDY IN FAVOUR OF THE REVENUE AND THE ISSUE OF INTEREST SUBSIDY IN FAVOUR OF THE ASSESSEE . THIS MATTER IS COVERED BY THE DECISIONS RENDERED BY THIS BENCH, WHICH WERE DECIDED ON THE BASIS OF THE VARIOUS DECISIONS OF HON'BLE HIGH COURTS. 2) AT THE TIME OF HEARING, LEARNED COUNSEL FOR THE ASSESSEE STATED THAT THE BASIC CONTENTION OF THE ASSESSEE BEFORE LE ARNED COMMISSIONER OF INCOME TAX(APPEALS) WAS WHETHER TRANSFER SUBSIDY OF RS. 8,06,791/- ALREADY SHOWN AS INCOME IN THE EARLIER FINANCIAL YE AR I.E. 1998-99 AND 1999-2000 ON THE BASIS OF MERCANTILE SYSTEM OF ACCO UNTING WAS TO BE TAXED IN THE INSTANT YEAR OR NOT. LEARNED COMMISSIO NER OF INCOME TAX(APPEALS) HAS FINALLY DIRECTED THE ASSESSING OFF ICER ON THE ISSUE IN DISPUTE TO RE-COMPUTE THE RELIEF ALLOWABLE UNDER SE CTION 80IB OF THE ACT AFTER VERIFYING THE CONTENTION OF THE ASSESSEE BUT THIS BENCH HAD DECIDED THE ISSUE IN DISPUTE AGAINST THE ASSESSEE, WHICH IS CONTRARY TO THE FACTS OF THE PRESENT CASE. THUS, THIS IS A MISTAKE APPARENT FROM RECORD AND NEEDS RECTIFICATION IN THE ORDER DATED 12.09.2012. 3) ON THE CONTRARY, LEARNED DR STATED THAT LEARNED COUNSEL FOR THE ASSESSEE HAS NOT POINTED ANY MISTAKE IN THE ORDER O F THIS BENCH, THEREFORE, 3 M.A. NO. 55(ASR)/2013 (IN I.T.A. NO. 541(A SR)/2011) THE APPLICATION FILED BY THE ASSESSEE FOR RECALLING OF THE ORDER DATED 12.09.2012 MAY BE DISMISSED. 4) WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE R ELEVANT RECORDS AVAILABLE WITH US, ESPECIALLY THE ORDER DATED 12.09 .2012. WE ARE OF THE CONSIDERED VIEW THAT THIS BENCH HAD DECIDED THE ISS UE IN DISPUTE ON THE BASIS OF VARIOUS ORDERS/DECISIONS RENDERED BY THIS BENCH, WHICH WERE DECIDED IN LIGHT OF THE DECISION RENDERED BY HON'BL E HIGH COURTS. BUT IN THE IMPUGNED ORDER, THE LEARNED CIT(A) HAS SET ASID E THE MATTER TO THE ASSESSING OFFICER WITH A DIRECTION TO RE-COMPUTE TH E RELIEF ALLOWABLE UNDER SECTION 80IB OF THE ACT AFTER VERIFYING THE C ONTENTION OF THE ASSESSEE THAT THESE SUBSIDIES HAVE ALREADY BEEN ASS ESSED EARLIER IN THE ASSESSMENT YEARS 1999-2000, 2000-01 & 2003-04 SO AS TO ENSURE THAT THE ASSESSEE IS NOT SUBJECTED TO DOUBLE TAXATION ON THE SAME LIMB OF INCOME ALREADY DECLARED BY IT AND LIKEWISE ALREADY ACCEPTE D BY THE DEPARTMENT. 5) WE ARE OF THE VIEW THAT THE ORDER DATED 12.09.20 12 IS HAVING MISTAKE, WHICH IS APPARENT FROM RECORDS AND THE SAM E NEEDS TO BE RECTIFIED BUT ONLY AFTER RECALLING THE ORDER DATED 12.09.2012 AND AFTER HEARING BOTH THE PARTIES IN DETAIL. THEREFORE, IN T HE INTEREST OF JUSTICE, WE HEREBY RECALL THE ORDER DATED 12.09.2012 AND REGIST RY IS DIRECTED TO ISSUE 4 M.A. NO. 55(ASR)/2013 (IN I.T.A. NO. 541(A SR)/2011) NOTICES TO THE PARTIES BY RPAD AND FIXED THE MAIN A PPEAL I.E. I.T.A. NO. 541(ASR)/2011 FOR 23 RD SEPTEMBER, 2013 BEFORE THE BENCH FOR HEARING. 6) IN THE RESULT, MISCELLANEOUS APPLICATION IS ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH AUGUST, 2013 SD/./- SD/./- (B.P. JAIN) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 26 TH AUGUST, 2013 /RK/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE: M/S MAKEN CEMENT INDUSTRIES KATHUA, H .Q. WARE HOUSE, PATHANKOT 2. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE, PATHANK OT 3. THE CIT(A), ASR 4. THE CIT, ASR 5. THE SR DR, I.T.A.T., ASR TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.