DCIT, Tiruppur v. M/s. Sri Velayudhaswamy Spinning Mills P Ltd., Tiruppur

ITA 799/CHNY/2011 | 2007-2008
Pronouncement Date: 14-07-2011 | Result: Dismissed

Appeal Details

RSA Number 79921714 RSA 2011
Assessee PAN AADCS0676C
Bench Chennai
Appeal Number ITA 799/CHNY/2011
Duration Of Justice 2 month(s) 12 day(s)
Appellant DCIT, Tiruppur
Respondent M/s. Sri Velayudhaswamy Spinning Mills P Ltd., Tiruppur
Appeal Type Income Tax Appeal
Pronouncement Date 14-07-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted D
Tribunal Order Date 14-07-2011
Assessment Year 2007-2008
Appeal Filed On 02-05-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL BENCH D CHENNAI BEFORE DR. O.K. NARAYANAN VICE-PRESIDENT AND SHRI HARI OM MARATHA JUDICIAL MEMBER I.T.A.NO. 799/MDS/2011 ASSESSMENT YEAR : 2007-08 THE DEPUTY COMMISSIONER OF INCOME-TAX COMPANY CIRCLE 121 60 FEET ROAD TIRUPUR 641 602. VS. M/S. SRI VELAYUDHASWAMY SPINNING MILLS P. LTD. 207/86 MANGALAM ROAD KARUVAMPALAYAM TIRUPUR 4. PAN AADCS 0676 C (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI ANIRUDH RAI CIT-DR RESPONDENT BY : SHRI T. BANUSEKAR CA O R D E R PER DR. O.K. NARAYANAN VICE-PRESIDENT THIS APPEAL IS FILED BY THE REVENUE FOR THE ASSESS MENT YEAR 2007-08. THE ONLY GROUND RAISED BY THE REVENU E IN THE PRESENT APPEAL IS THAT THE COMMISSIONER OF INCOME-T AX (APPEALS) HAS ERRED IN DIRECTING THE ASSESSING OFFICER TO ALL OW DEDUCTION UNDER SEC.80IA TREATING THE ASSESSMENT YEAR AS THE INITIAL ASSESSMENT YEAR. ITA 799/11 :- 2 -: 2. THIS ISSUE RAISED BY THE REVENUE WAS CONSIDERED BY THE HONBLE HIGH COURT OF MADRAS IN ASSESSEES OWN CASE REPORTED IN 231 CTR (MAD) 368 IN THE CASE OF VELAYUDHASWAMY SPI NNING MILLS (P) LTD. V. ACIT. THE HONBLE HIGH COURT HEL D THAT THE LAW PERMITS AN ASSESSEE TO CHOOSE THE INITIAL ASSESSMEN T YEAR FOR THE PURPOSE OF CLAIMING OF DEDUCTION UNDER SEC.80IA FOR A PERIOD OF 10 ASSESSMENT YEARS OUT OF THE ELIGIBLE PERIOD OF 15 Y EARS. IN VIEW OF THE ABOVE FINDING OF THE HONBLE JURISDICTIONAL HIG H COURT WE FIND THAT THIS APPEAL FILED BY THE REVENUE IS LIABLE TO BE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON THURSDAY THE 14 TH DAY OF JULY 2011 AT CHENNAI. SD/- SD/- (HARI OM MARATHA) (DR.O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI DATED THE 14 TH JULY 2011 MPO* COPY TO : APPELLANT/RESPONDENT/CIT/CIT(A)/DR