Shri Pratikkumar Surshchandra Bhoot, Amaravati v. Assistant Commissioner of Income tax Central Circle-1(4), Nagpur

ITA 130/NAG/2013 | 2006-2007
Pronouncement Date: 31-07-2015 | Result: Allowed

Appeal Details

RSA Number 13023914 RSA 2013
Assessee PAN AARPB6840Q
Bench Nagpur
Appeal Number ITA 130/NAG/2013
Duration Of Justice 2 year(s) 3 month(s) 22 day(s)
Appellant Shri Pratikkumar Surshchandra Bhoot, Amaravati
Respondent Assistant Commissioner of Income tax Central Circle-1(4), Nagpur
Appeal Type Income Tax Appeal
Pronouncement Date 31-07-2015
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 31-07-2015
Assessment Year 2006-2007
Appeal Filed On 08-04-2013
Judgment Text
1 ITA NOS. 130 TO 133/NAG/2013 IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH NAGPUR BEFORE SHRI MUKUL K. SHRAWAT JUDICIAL MEMBER AND SHRI SHAMIM YAHYA ACCOUNTANT MEMBER. S.NO. I.T.A. NO. ASSTT. YEAR. 1. 130 /NAG/2013 200 6 - 07 2. 1 31 /NAG/2013 200 7 - 08 3. 1 32 /NAG/2013 200 8 - 09 4. 1 33 /NAG/2013 200 9 - 10 SHRI PRATIKKUMAR SURESHCHANDRA BHOOT ASSTT. COMMISSIONER OF RALLIES ROAD AMRAVATI. V/S. INCOME TAX PAN AARPB6840Q CENTRAL CIRCLE - 1(4) NAGPUR. APPELLANT RESPONDENT. APPELLANT BY : SHRI K.P. DEWANI. RESPONDENT BY : SHRI NARENDRA KANE. DATE OF HEARING : 03 - 06 - 2015 DATE OF PRONOUNCEMENT : 31 ST JULY 2015. O R D E R PER BENCH. THESE FOUR APPEALS HAVE BEEN FILED BY THE ASSESSEE EMANATING FROM A COMBINED ORDER OF LEARNED CIT(APPEALS) - I NAGPUR DATED 6 TH MARCH 2013 PERTAINING TO ASSESSMENT YEARS 2006 - 07 TO 2009 - 10. SINCE THESE APPEALS HAVE 2 ITA NOS. 130 TO 133/NAG/2013 COMMON GRO UNDS AS WELL AS THE FACTS ARE ALSO IDENTICAL THEREFORE HEREBY CONSOLIDATED AND DECIDED BY THIS COMMON ORDER. 2. FOR THE SAKE OF CONVENIENCE WE HAVE TAKEN UP ASSESSMENT YEAR 2006 - 07 THE YEAR FOR REFERENCE AND THE GROUNDS ARE REPRODUCED BELOW : 1. THE LEARNED CIT(A) ERRED IN HOLDING THAT SALES TAX INCENTIVE AVAILED F OR SETTING UP OF INDUSTRIAL UNDERTAKING CLAIMED BY ASSESSEE AS CAPITAL RECEIPT AT ` .8 35 842/ - CAN NOT BE ALLOWED IN ASSESSMENT FRAMED U/S 143(3) R.W..S. 153A OF I.T. ACT 1961. 2. THE LEARNED A.O. ERRED IN ASSESSING SALES TAX INCENTIVE AVAILED AS REVENUE RECEIPT AND NOT ACCEPTING THE CLAIM OF ASSESSEE FOR THE SAME BEING CAPITAL RECEIPT AT THE HANDS OF THE ASSESSEE. 3. TH E LEARNED A.O. OUGHT TO HAVE ACCEPTED THE CLAIM OF ASSESSEE THAT SALES TAX INCENTIVE AVAILED AT ` . 8 35 842/ - / - UNDER SCHEME OF INCENTIVE BY GOVERNMENT OF MAHARASHTRA IS CAPITAL RECEIPT AND NOT CHARGEABLE TO TAX. 3. ON IDENTICAL FACTS AN D CIRCUMSTANCES WE HAVE TAKEN A VIEW IN A GROUP OF CASES OF M/S NARENDRA VEGETABLE PRODUCTS PVT. LTD. BEARING ITA NOS. 11 8 TO 124/NAG/2013 FOR ASSESSMENT YEARS 2003 - 04 TO 2009 - 10 VIDE ORDER EVEN DATED 31 ST JULY 2015. FOLLOWING THE REASONS ASSIGNED IN THE SAID ORDER WE HEREBY DECIDE GROUND NOS. 1 2 AND 3 IN FAVOUR OF THE ASSESSEE. RESULTANTLY ALL THE APPEALS ARE ALLOWED. 4. IN THE RESULT THE APPEALS FILED BY THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 31 ST DAY OF JULY 2015. SD/ - SD/ - ( SHAMIM YAHYA) (MUKUL K. SHRAWAT) ACCOUNTANT MEMBER. JUDICIAL MEMBER NAGPUR DATED: 31 ST JULY 2015. 3 ITA NOS. 130 TO 133/NAG/2013 COPY OF ORDER FORWARDED TO : 1. THE ASSESSEE. 2. REVENUE. 3. THE CIT(A) 4. THE CIT NAGPUR. 5. THE D.R. ITAT NAGPUR. 6. GUARD FILE. TRUE COPY. BY ORDER WAKODE ASSISTANT REGISTRAR ITAT NAGPUR