Malwa Industries Ltd., Ludhiana V. ACIT, Ludhiana

MA 65/CHANDI/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 9311 (ITAT-CHANDIGARH)
• Duration Of Justice: 6 month(s) 29 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-11-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 09-11-2012
• Assessment Year: 2004-2005
• Appeal Filed On: 24-04-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: PARAMJEET SINGH
• Section: 80HHC

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH B CHANDIGARH BEFORE SHRI T.R.SOOD, ACCOUNTANT MEMBER AND MS.SUSHMA CHOWLA, JUDICIAL MEMBER MA NO. 64/CHD/2012 IN ITA NO. 73/CHD/2006 & M.A./65/CHD/2012 IN ITA-167/CHD/2008 ASSESSMENT YEAR: 2003-04 & 2004-05 M/S MALWA INDUSTRIES LTD., V ACIT, R-VII, LUDHIANA. LUDHIANA. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI PARAMJEET SINGH RESPONDENT BY : SHRI AKHILESH GUPTA DATE OF HEARING : 09.11.2012 DATE OF PRONOUNCEMENT : 23.11.2012 ORDER PER T.R.SOOD, AM THROUGH THIS MISCELLANEOUS APPLICATION, ASSESSEE HA S SOUGHT RECALLING OF THE ORDER IN RESPECT OF GROUND 4. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT GROUND 4, PERTAINING TO REDUCTION OF 90% OF GROSS RECEIPTS IN RESPECT OF DEPB FROM PROFITS FOR THE PURPOSE OF COMPUTATION OF DEDUCTION U/S 80HHC, WAS DECIDED AGAINST THE ASSESS EE BY FOLLOWING THE ORDER OF TRIBUNAL FOR ASSESSMENT YEAR 2003-04. NOW, THIS ISSUE HAS BEEN DECIDED IN FAVOUR OF ASSES SEE BY HON'BLE SUPREME COURT IN CASE OF TOPMAN EXPORTS V C IT, 343 ITR 49 (S.C). THEREFORE, THE ORDER OF TRIBUNAL SHOULD BE RECALLED IN THIS RESPECT. 2. ON THE OTHER HAND, LD. 'DR' HAD NO SERIOUS OBJEC TION. 2 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS, WE FIND THAT ISSUE REGARDING REDUCTION OF GROSS RECEIPTS ON ACCO UNT OF DEPB FOR THE PURPOSE OF COMPUTATION OF DEDUCTION U/ S 80HHC WAS DECIDED AGAINST THE ASSESSEE BY THE TRIBU NAL. NOW, THIS MATTER HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE BY THE HON'BLE SUPREME COURT IN CASE OF TOPMAN EXPO RTS V CIT (SUPRA). THEREFORE, AN ERROR HAS CREPT INTO OR DERS OF TRIBUNAL AND ACCORDINGLY, WE RECALL THE ORDER OF TR IBUNAL TO ADJUDICATE GROUND NO.4. 4. REGISTRY IS DIRECTED TO FIX THE APPEALS FOR HEAR ING ON 26.11.2012. THE ASSESSEE SHALL TAKE NOTICE FROM TH IS ORDER ITSELF AND NO FRESH NOTICE WILL BE SERVED. 5. IN THE RESULT, MISCELLANEOUS APPLICATION IS ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD NOV.,2012. SD/- SD/- (SUSHMA CHOWLA) (T.R.SOOD) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 23 RD NOV.,2012. POONAM COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT(A), THE CIT,DR ASSISTANT REGISTRAR, ITAT CHANDIGARH