ACIT, Alwar v. M/S DRAWMET WIRES PVT. LTD., Alwar

ITA 23/JPR/2011 | 1998-1999
Pronouncement Date: 22-07-2011 | Result: Dismissed

Appeal Details

RSA Number 2323114 RSA 2011
Assessee PAN AAACD7355E
Bench Jaipur
Appeal Number ITA 23/JPR/2011
Duration Of Justice 6 month(s) 15 day(s)
Appellant ACIT, Alwar
Respondent M/S DRAWMET WIRES PVT. LTD., Alwar
Appeal Type Income Tax Appeal
Pronouncement Date 22-07-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 22-07-2011
Assessment Year 1998-1999
Appeal Filed On 06-01-2011
Judgment Text
1 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH A JAIPUR (BEFORE SHRI R.K. GUPTA AND SHRI .N.L. KALR A ) ITA NO. 23/JP/2011 ASSESSMENT YEAR : 1998-99 PAN: AAACD 7355E THE ACIT VS. M/S. DRAWMET WIRES (P) LTD. CIRCLE- 2 B-482 INDUSTRIAL AREA JAIPUR BHIWADI DISTT. ALWAR (APPELLANT) (RESPONDENT) DEPARTMENT BY: MISS. ROSHANTA MEENA ASSESSEE BY : SHRI P.C. PARWAL ORDER PER N.L. KALRA AM:- THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A) ALWAR DATED 21-10-2010 FOR THE ASSESSMEN T YEAR 1998-99 WHEREIN THE REVENUE HAS RAISED THE FOLLOWING GROUNDS. 1. THAT THE LD. CIT(A) HAS ERRED IN LAW AS WELL A S ON THE FACTS AND CIRCUMSTANCES OF THE CASE IN HOLDING THAT THE ASSESSEE IS ELIGIBLE TO CLAIM DEDUCTION UNDER THE PROVISIONS OF SUB- SECTION (3) TO SECTION 80HHC ON INCOME FROM SALE OF EXPORT INCENTIVE. 2. THAT THE LD. CIT(A) HAS ERRED IN LAW AS WELL AS ON THE FACTS AND CIRCUMSTANCES OF THE CASE IN DIRECTING TH E AO TO TAKE THE BOOK PROFIT AT RS. 8 08 767/- INSTEAD OF RS. 9 00 886/- WITHIN THE MEANING OF SECTION 115J IGNORING THE MAT ERIAL FACT THAT THE ASSESSEE ITSELF HAS WORKED OUT AND DECLARE D THE BOOK PROFIT AT RS. 9 00 886/- BY MAKING ADDITION IF RS. 92 129/- ON ACCOUNT OF PROVISIONS FOR GRATUITY WHICH IS NOT AN ASCERTAINED 2 LIABILITY AND THE ASSESSEE BOOK PROFIT CANNOT GO BE LOW THE RETURNED BOOK PROFIT AFTER THE APPEAL EFFECT. 3. THAT THE DECISION OF LD. CIT(A) IS PERVERSE TO INTEREST TO REVENUE . 2.1 WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATERIALS AVAILABLE ON RECORD. THE BENCH NOTED THAT TAX EFFECT IN THE PRES ENT CASE OF THE DEPARTMENTAL APPEAL IS LESS THAN RS.2.00 LACS AND H ENCE APPEAL FILED BY REVENUE IS NOT MAINTAINABLE IN VIEW OF PROVISIONS OF SECTION 268A OF THE ACT AND THE DECISION OF THIS BENCH IN THE CASE OF I .T.O. VS. SMT. GEETA DEVI GOYAL 120 TTJ 136. 3. IN THE RESULT THE APPEAL OF THE REVENUE IS DISM ISSED AS NOT MAINTAINABLE THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22- 07-2011. SD/- SD/- (R.K. GUPTA) (N.L. KALRA) JUDICIAL MEMBER ACCOUNTANT MEMBER JAIPUR DATED: 22 /07/2011 MISHRA COPY TO: 1. THE ACIT CIRCLE- 2 ALWAR 2. M/S. DRAWMET WIRES (P) LTD. ALWAR 3.THE LD. CIT (A) BY ORDER 4.THE CIT 5.THE D/R 6.THE GUARD FILE (ITA NO.23/JP/11) A.R.. ITAT: JAIPUR 3