AMAR INTERNATIONAL, MUMBAI v. DCIT 17(1), MUMBAI

CO 150/MUM/2010 | 2000-2001
Pronouncement Date: 29-07-2011 | Result: Dismissed

Appeal Details

RSA Number 15019923 RSA 2010
Assessee PAN AAAFA2660E
Bench Mumbai
Appeal Number CO 150/MUM/2010
Duration Of Justice 11 month(s) 15 day(s)
Appellant AMAR INTERNATIONAL, MUMBAI
Respondent DCIT 17(1), MUMBAI
Appeal Type Cross Objection
Pronouncement Date 29-07-2011
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted Not Allotted
Tribunal Order Date 29-07-2011
Date Of Final Hearing 08-03-2011
Next Hearing Date 08-03-2011
Assessment Year 2000-2001
Appeal Filed On 13-08-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A MUMBAI BEFORE S/SHRI D.K.AGARWAL (JM) AND R.K.PANDA (A.M ) ITA NO.354/MUM/2010 (ASSESSMENT YEAR:2000-01) DY. COMMISSIONER OF INCOME TAX -17(1) 1 ST FLOOR PIRAMAL CHAMBERS PAREL MUMBAI-400012 AMAR INTERNATIONAL AMAR HOUSE 14/16 NEAR SHARDA TALKIES MMGS MARG DADAR (E) MUMBAI-400014. PAN: AAAFA2660E APPELLANT V/S RESPONDENT CO.NO.150/MUM/2010 IN ITA NO.354/MUM/2010 (ASSESSMENT YEAR:2000-01) AMAR INTERNATIONAL AMAR HOUSE 14/16 NEAR SHARDA TALKIES MMGS MARG DADAR (E) MUMBAI-400014. PAN: AAAFA2660E DY. COMMISSIONER OF INCOME TAX -17(1) 1 ST FLOOR PIRAMAL CHAMBERS PAREL MUMBAI-400012 CROSS-OBJECTOR V/S RESPONDENT DATE OF HEARING : 28.7.2011 DATE OF PRONOUNCEMENT : 28.7.2011 REVENUE BY : SHRI P.K.B.MENON : ASSESSEE BY : SHRI PARAS S.SAVLA O R D E R PER D.K.AGARWAL (JM) THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 28.10.2009 PASSED BY THE LE ARNED COMMISSIONER OF INCOME TAX (A) FOR THE ASSESSMENT YEAR 2000-01 AGAINST WHICH THE ASSESSEE HAS ALSO FILED C ROSS- ITA NO.354/MUM/2010 CO.NO.150/MUM/2010 (AY:2000-01) 2 OBJECTION. THE REVENUES APPEAL AND ASSESSEES CR OSS- OBJECTION ARE DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. ITA NO.354/MUM/2010 (BY REVENUE ) 2. THE GROUNDS TAKEN BY THE REVENUE READ AS UNDER : I) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW THE LEARNED COMMISSIONER OF INCOME TAX (A) ERRED IN DIRECTING THE AO TO ALLOW DEDUCTION UN DER SECTION 80HHC ON DEPB WITHOUT TAKING INTO CONSIDERATION AMENDED PROVISIONS OF SECTION 28(III) (D) OF THE INCOME TAX ACT 1961. II) THE APPELLANT PRAYS THAT THE ORDER THE CIT(A) O N THE ABOVE GROUND BE REVERSED AND THAT OF THE AO B E RESTORED. III) THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER A NY GROUND OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 3. AT THE TIME OF HEARING IT HAS BEEN OBSERVED TH AT THE TAX EFFECT ON THE ABOVE APPEAL FILED BY THE REVENUE IS LESS THAN RS.3 00 000/-.THE LEARNED DEPARTMENTAL REPRESE NTATIVE DID NOT DISPUTE ON THE SAID FACTUAL MATRIX OF THE C ASE. 4 THAT BEING SO AND IN TERMS OF THE RECENT CBDT INSTRUCTION NO. 3 OF 2011 DATED 9 TH FEBRUARY 2011 REPORTED IN (2011) 332 ITR 1 (STATUTES) AND KEEPING IN VIEW THE RATIO OF THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT V. MADHUKAR K. INAMDAR (HUF) (2009) 318 ITR 148(BOM) WHEREIN IT HAS BEEN HELD THAT THE REVISED MONETARY LIMIT IN THE CIRCULAR DATED MAY 15 2008 W OULD BE ITA NO.354/MUM/2010 CO.NO.150/MUM/2010 (AY:2000-01) 3 APPLICABLE FOR ALL PENDING APPEALS AND ALSO THE CON SISTENT VIEW OF THE CO-ORDINATE BENCHES OF THE TRIBUNAL W E ARE OF THE VIEW THAT THE DEPARTMENT SHOULD NOT HAVE FILED THE APPEAL AND ACCORDINGLY THE APPEAL FILED BY THE REVENUE IS DISMISSED. CO.NO.150/MUM/2010 (BY ASSESSEE) 5. GROUNDS TAKEN BY THE ASSESSEE READ AS UNDER : 1. ON FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LEARNED CIT(A) -29 MUMBAI WHILE PASSING ORDER DATED 28 TH OCTOBER 2009 ERRED IN HOLDING THAT THE ASSESSMENT UNDER SECTION 147 IS VALID. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E AND IN LAW THE ASSESSEE (I.E. THE RESPONDENT) SHAL L BE ALLOWED ALTERNATIVELY TO REDUCE THE AMOUNT RECEIVE D ON SALE OF DEPB/DFRC LICENCES FROM DIRECT COSTS ATTRIBUTABLE TO EXPORT OF GOODS WHILE CALCULATING DEDUCTION UNDER SECTION 80HHC. 3. THE RESPONDENT CRAVES LEAVE TO ADD ALTER AMEND DELETE ANY GROUND OF CROSS OBJECTION. 6. IN THE ABSENCE OF ANY SUPPORTING MATERIAL PLACE D ON RECORD BY THE ASSESSEE IN SUPPORT OF THE ABOVE GRO UNDS TAKEN BY THE ASSESSEE AND KEEPING IN VIEW THAT WE HAVE DISMISSED THE REVENUES APPEAL AS NOT MAINTAINABLE GROUNDS TAKEN BY THE ASSESSEE IN ITS CROSS-OBJECTIO N ARE THEREFORE REJECTED. ITA NO.354/MUM/2010 CO.NO.150/MUM/2010 (AY:2000-01) 4 7. IN THE RESULT THE REVENUES APPEAL AND CROSS-OB JECTION FILED BY THE ASSESSEE STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 28.7.2011. SD SD (R.K.PANDA) (D.K.AGARWAL) ACCOUNTANT MEMBER JUDICIAL MEM BER MUMBAI DATED 28 TH JULY 2011 SRL: COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT CONCERNED 4. CIT(A) CONCERNED 5. DR CONCERNED BENCH 6. GUARD FILE. BY ORDER TRUE COPY ASSTT. REGISTRAR ITAT MUMBAI