Indian Seamless Enterprises Ltd., Pune v. Addl. CIT, Pune

ITA 391/PUN/2009 | 2005-2006
Pronouncement Date: 08-10-2010 | Result: Allowed

Appeal Details

RSA Number 39124514 RSA 2009
Assessee PAN AAACI3891C
Bench Pune
Appeal Number ITA 391/PUN/2009
Duration Of Justice 1 year(s) 6 month(s) 7 day(s)
Appellant Indian Seamless Enterprises Ltd., Pune
Respondent Addl. CIT, Pune
Appeal Type Income Tax Appeal
Pronouncement Date 08-10-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 08-10-2010
Assessment Year 2005-2006
Appeal Filed On 31-03-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A PUNE BEFORE SHRI I.C. SUDHIR AND SHRI D. KARUNAKARA RAO ITA NO. 391/PN/09 (ASSTT. YEAR 2005-06) INDIAN SEAMLESS ENTERPRISES LTD. CTS NO. 199 PLOT NO. 3 LUNKAD TOWERS VIMAN NAGAR PUNE 411004 PAN NO. AAACI3891C .... APPELLANT VS. ADDL. CIT RANGE-1 PUNE . RESPONDENT APPELLANT BY : SHRI KISHOR PHADKE RESPONDENT BY : SHRI ABHAY DAMLE ORDER PER D. KARUNAKARA RAO AM THIS IS AN APPEAL BY ASSESSEE AGAINST THE ORDER OF TH E CIT(A)-I PUNE DATED 23/01/2009 FOR THE ASSESSMENT YEAR 2005-06. AT THE VERY OUTSET LD. COUNSEL FOR THE ASSESSEE MENTIONED THAT THE ISSUE REV OLVES AROUND THE APPLICABILITY OF THE PROVISIONS OF SEC. 14A IN RESPE CT OF THE CLAIMS ON ACCOUNTS OF THE FINANCE EXPENSES AND THE INDIRECT EXPENSES. 2. FURTHER HE MENTIONED THAT THE ISSUE HAS TO REFERRED TO THE FILES OF THE A.O FOR DECIDING THE ISSUE AFRESH IN THE LIGHT OF THE BOM BAY HIGH COURT JUDGMENT IN THE CASE OF GODREJ & BOYCE MANUFACTURING CO. LTD. VS. DCIT ITXA NO. 626/10 AND WRIT PETITION NO. 758/10. FURTHER HE ALSO MENTIO NED THAT SAID THE HIGH COURT JUDGEMENT CONSIDERED THE SPECIAL BENCH DECISION S IN THE CASE OF DAGA CAPITAL MANAGEMENT PVT. LTD. [2009] 117 ITD 169 (MU M)(SB). CONSIDERING THE ABOVE SUBMISSIONS OF THE PARTIES WE ARE OF THE OPINI ON THAT LD. DR HAS NO OBJECTION FOR SUCH REFERENCE IN THIS REGARD. HOWEVER HE RELIED ON THE ORDERS OF ITA NO. 391/PN/09 A.Y: 2005-06 PAGE 2 OF 2 THE REVENUE. ACCORDINGLY THE MATTER SHOULD BE SET AS IDE FOR EXAMINING THE ISSUE AFRESH IN THE LIGHT OF THE ABOVE REFERRED DECISIONS AFT ER GIVING REASONABLE OPPORTUNITY OF BEING HEARD. ACCORDINGLY THE GROUNDS A RE SET ASIDE. 3. IN THE RESULT APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 08 TH OCTOBER 2010. SD/- SD/- (I.C. SUDHIR) (D.KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBE R PUNE DATED THE 08 TH OCTOBER 2010 R COPY OF THE ORDER IS FORWARDED TO : 1. ASSESSEE 2. ADDL. CIT RANGE 1 PUNE 3. CIT(A)-I PUNE 4. CIT-I PUNE 5. D.R. ITAT A BENCH BY ORDER ASSISTANT REGISTRAR I.T.A.T PUNE