Dy.CIT, Aligarh v. Allen & Alvan (P) Ltd., Aligarh

IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH AGRA BEFORE SHRI R.K. GUPTA JUDICIAL MEMBER AND SHRI P.K. BANSAL ACCOUNTANT MEMBER ITA NO.628/AGR/2008 ASST. YEAR: 1999-2000 ASSTT. C.I.T. VS. M/S ALLEN & ALVAN (P) LTD. CIRCLE-1 ALIGARH. 14/7 ACHAL ROAD ALIGARH. (PAN : AABCA 3714 H) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI S.K. MISHRA SR. D.R. RESPONDENT BY: SHRI VITHAL DAS ADVOCATE ORDER PER P.K. BANSAL A.M.: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF THE CIT(A) DATED 22.07.2008 BY TAKING THE FOLLOWING EFFECTIVE GROUND S OF APPEAL:- (1) THE LD. CIT(APPEALS) HAS ERRED IN LAW AND ON F ACTS IN DELETING THE ADDITION OF RS.1 55 32 625/- MADE ON ACCOUNT OF ASS ESSEES CLAIM OF DEDUCTION U/S 80HHC WITHOUT DEDUCTING 90% OF THE AMOUNT RECEI VED ON ACCOUNT OF DISCOUNT ALLOWED TO THE ASSESSEE ON CERTIFICATE OF DEPOSITS AND COMMERCIAL PAPERS IN TERMS OF EXPLANATION (BAA) OF SUB-SECTION (4B) OF SECTION 80HHC OF THE INCOME-TAX ACT 1961 FOLLOWING THE ORDER OF THE HONBLE ITAT AGRA BENCH AGRA DATED 23.03.2007 IN THE CASE OF THE ASSESSEE I N ITA NOS.410 411 & 412/AGRA/2004 FOR THE ASSTT. YEAR(S) 1998-99 1999- 2000 & 2001-02. (2). THE LD. CIT (APPEALS) HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.1 55 32 625/- IN VIEW OF THE FACT TH AT THE ORDER OF THE HONBLE ITAT AGRA BENCH AGRA HAS NOT BEEN ACCEPTED BY THE DEPARTMENT AND APPEALS U/S 260A HAVE BEEN FILED BEFORE THE HONBLE HIGH CO URT OF JUDICATURE AT ALLAHABAD AGAINST THE SAID ORDER OF THE ITAT DATED 23-3-2007 DECISION OF WHICH IS STILL PENDING. 2 2. AT THE OUTSET THE LD. A.R. POINTED OUT THAT THE APPEAL IS DULY COVERED BY THE ORDER OF THIS TRIBUNAL IN ASSESSEES CASE FOR THE A.Y. 2000- 01 WHICH HAS BEEN RELIED BY THE CIT(A) AS APPEARING IN PARA 5.3 OF HIS ORDER. 3. THE LD. D.R. WAS FAIR ENOUGH TO CONCEDE THAT THE APPEAL FILED IS DULY COVERED BY THE ORDER OF THE TRIBUNAL AND HAS BEEN FILED AS THE REV ENUE HAS FILED APPEAL BEFORE THE HIGH COURT AGAINST THE ORDER OF ITAT AND THE DECISION OF THE H IGH COURT IS PENDING. 4. WE HAVE CAREFULLY CONSIDERED THE RIVAL SUBMISSIO NS AND PERUSED THE MATERIAL ON RECORD. IN OUR OPINION NO INTERFERENCE IS CALLED FOR IN TH E ORDER OF THE CIT(A). THE CIT(A) HAS DELETED THE ADDITION FOLLOWING THE ORDER OF THIS TRIBUNAL I N ASSESSEES CASE DATED 28.07.2006 AND THAT OF ITA NOS.410 411 & 412/AGR/2004 DATED 23.03.2007. ACCORDINGLY THE REVENUE HAD GONE IN APPEAL AGAINST THE ORDER OF TRIBUNAL IN THE EARLIER YEAR. THE APPEAL OF THE REVENUE CANNOT BE ALLOWED UNLESS AND UNTIL THE ORDER OF THE TRIBUNAL IS REVERSED BY THE HIGH COURT. SINCE THERE IS NO DIFFERENCE IN THE FACTS INVOLVED AS COMPARED TO THE EARLIER YEAR WE DO NOT FIND ANY MERIT IN THE GROUNDS TAKEN BY THE REVENUE. 5. IN THE RESULT APPEAL FILED BY THE REVENUE STAND S DISMISSED. (ORDER PRONOUNCED IN THE OPEN COURT ON 15.04.2010) . SD/- SD/- (R.K. GUPTA) (P.K. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: AGRA 3 DATE: 15 TH APRIL 2010. PBN/* COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT BY ORDER 3. CIT CONCERNED 4. CIT (APPEALS) CONCERNED 5. DR ITAT AGRA BENCH AGRA 6. GUARD FILE ASSIST ANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL AGRA TRUE COPY