M/s. Samalpatti Power Company Private Limited, CHENNAI v. ACIT, CHENNAI

ITA 141/CHNY/2011 | 2006-2007
Pronouncement Date: 30-07-2012 | Result: Allowed

Appeal Details

RSA Number 14121714 RSA 2011
Assessee PAN AADCS1893D
Bench Chennai
Appeal Number ITA 141/CHNY/2011
Duration Of Justice 1 year(s) 6 month(s) 2 day(s)
Appellant M/s. Samalpatti Power Company Private Limited, CHENNAI
Respondent ACIT, CHENNAI
Appeal Type Income Tax Appeal
Pronouncement Date 30-07-2012
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 30-07-2012
Date Of Final Hearing 19-07-2012
Next Hearing Date 19-07-2012
Assessment Year 2006-2007
Appeal Filed On 28-01-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH CHENNAI BEFORE DR. O. K. NARAYANAN VICE PRESIDENT AND SHRI V. DURGA RAO JUDICIAL MEMBER .. ITA NOS. 141 142 & 1267/MDS/2011 ASSESSMENT YEARS : 2006-07 2007-08 & 2008-09 M/S. SAMALPATTI POWER CO. (P) LTD. SREYAS VIRAT NO. 14 III CROSS ROAD R.A. PURAM CHENNAI-600 028. V. THE ASSISTANT COMMISSIONER OF INCOME TAX COMPANY CIRCLE- VI(1) CHENNAI. (PAN : AADCS1893D) (APPELLANT) (RESPONDENT) APPELLANT BY : DR. MRS.ANITA SUMANTH ADVOCATE RESPONDENT BY : SHRI SHAJI P. JACOB ADDL. CIT DATE OF HEARING : 19.07.2012 DATE OF PRONOUNCEMENT : 30.07.2012 O R D E R PER V. DURGA RAO JUDICIAL MEMBER : THESE APPEALS BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDERS PASSED BY THE CIT(APPEALS) DATED 25-11-2010 FOR THE ITA NOS.141 142 & 1267 /MDS/2011 2 ASSESSMENT YEARS 2006-07 AND 2007-08 AND DATED 02-0 5-2011 FOR THE ASSESSMENT YEAR 2008-09. AS COMMON ISSUES ARE INVOLVED IN ALL THESE APPEALS THEY WERE HEARD TOGETHER AND ARE BEI NG DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE GROUNDS OF APPEAL RAISED BY THE ASSESSE E RELATE TO THE ADDITION OF PROVISION FOR REBATE FOR COMPUTATION OF INCOME UNDER SECTIONS OTHER THAN SECTION 115JB OF THE INCOME TAX ACT 1961. AT THE TIME OF HEARING THE LEARNED COUNSEL FOR THE AS SESSEE HAS SUBMITTED THAT THE VERY SAME ISSUE WAS CONSIDERED B Y THE TRIBUNAL FOR THE ASSESSMENT YEAR 2005-06 IN THE ASSESSEES O WN CASE AND THE TRIBUNAL HAS REMITTED THE MATTER BACK TO THE AO TO DECIDE THE ISSUE AFRESH IN THE LIGHT OF THE OBSERVATIONS. THE REFORE THE LEARNED COUNSEL SUBMITTED THAT THE PRESENT ISSUE MAY ALSO B E REMITTED BACK TO THE AO TO PASS A FRESH ORDER IN THE LIGHT OF THE ORDER OF THE TRIBUNAL FOR THE ASSESSMENT YEAR 2005-06 IN ITA NOS . 894 & 1657/MDS/2009 DATED 24-05-2011. 3. THE LEARNED DR ON THE OTHER HAND SUBMITTE D THAT THE GROUND NO.3 RAISED BY THE ASSESSEE FOR THE ASSESSME NT YEARS 2006- 07 AND 2007-08 IS FOR THE FIRST TIME BEFORE THE TRI BUNAL AND THEREFORE IT SHOULD NOT BE REMITTED BACK. IN REPLY THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT ALL THE FAC TS ARE AVAILABLE ITA NOS.141 142 & 1267 /MDS/2011 3 ON RECORD. THEREFORE THE ENTIRE ISSUE CAN BE REMI TTED BACK TO THE AO FOR DECIDING THE SAME AFRESH. 4. WE HAVE HEARD BOTH THE SIDES PERUSED THE RECORD S AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. IN THESE APPEALS THE ASSESSEE HAS RAISED GROUNDS NO. 1 AND 2 IN RESP ECT OF REBATE IN THE COMPUTATION OF BOOK PROFITS U/S. 115JB OF THE AC T AND IN GROUND NO.3 IN RESPECT OF REBATE FOR THE PURPOSE OF COMPUT ING THE INCOME UNDER NORMAL PROVISIONS. THE OBJECTION OF THE LEAR NED DR IS THAT GROUND NO.3 HAS BEEN RAISED FOR THE FIRST TIME BEFO RE THE TRIBUNAL AND THEREFORE ONLY GROUND NOS. 1 AND 2 HAVE TO BE R EMITTED BACK TO THE AO. 5. AFTER CONSIDERING THE ENTIRE SUBMISSIONS OF BOTH THE SIDES AND ALSO THE ORDERS OF THE AUTHORITIES BELOW WE HO LD THAT THE ISSUE INVOLVED IN THESE APPEALS RELATING TO COMPUTATION O F BOOK PROFITS UNDER THE PROVISIONS OF SECTION 115JB OF THE ACT AS WELL AS UNDER NORMAL PROVISIONS HAS TO BE REMITTED BACK SINCE FAC TS ARE AVAILABLE ON RECORD AND THEREFORE IN THE INTERESTS OF JUSTICE WE SET ASIDE THE ORDERS PASSED BY THE LEARNED CIT(A) AND REMIT THE M ATTER BACK TO THE AO TO DECIDE THE ISSUE DE NOVO AFTER GIVING REASONABLE OPPORTUNITY TO THE ASSESSEE OF BEING HEARD. ITA NOS.141 142 & 1267 /MDS/2011 4 6. IN THE RESULT ALL THE THREE APPEALS FILED BY TH E ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON MONDAY THE 30 TH OF JULY 2012 AT CHENNAI. SD/- SD/- (DR. O. K. NARAYANAN) ( V.DURGA RAO ) VICE PRESIDENT JUDICIAL MEMBER CHENNAI DATED THE 30 TH JULY 2012. H. COPY TO: ASSESSEE/AO/CIT (A)/CIT/D.R./GUARD FILE