M/s TRB Exports Pvt. Ltd., Ludhiana v. ACIT, Ludhiana

ITA 814/CHANDI/2011 | 2002-2003
Pronouncement Date: 30-09-2011 | Result: Allowed

Appeal Details

RSA Number 81421514 RSA 2011
Assessee PAN AAACB6880A
Bench Chandigarh
Appeal Number ITA 814/CHANDI/2011
Duration Of Justice 1 month(s) 14 day(s)
Appellant M/s TRB Exports Pvt. Ltd., Ludhiana
Respondent ACIT, Ludhiana
Appeal Type Income Tax Appeal
Pronouncement Date 30-09-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted B
Tribunal Order Date 30-09-2011
Assessment Year 2002-2003
Appeal Filed On 16-08-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES B CHANDIGARH BEFORE MS. SUSHMA CHOWLA JUDICIAL MEMBER AND SHRI MEHAR SINGH ACCOUNTANT MEMBER ITA NOS. 813 & 814/CHD/2011 ASSESSMENT YEAR: 2001-02 & 2002-03 M/S TRB EXPORTS PVT LTD. VS. THE ACIT CIRCLE V LUDHIANA LUDHIANA PAN NO. AAACB 6880A (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI PARMOD VATS RESPONDENT BY : SHRI AJAY SHARMA DATE OF HEARING : 29.09.2011 DATE OF PRONOUNCEMENT : 30.09.2011 ORDER PER BENCH BOTH THE APPEALS FILED BY THE ASSESSEE ARE AGAINST SEPARATE ORDER OF CIT(A) DATED 10.6.2011 RELATING TO ASSESSM ENT YEARS 2001- 02 & 2002-03 AGAINST THE ORDER U/S 143(3) OF THE AC T. 2. THE ISSUE TO BE ADDRESSED IS COMPUTATION OF DEDU CTION UNDER SECTION 80HHC OF THE INCOME TAX ACT VIS--VIS THE I NCOME FROM DEPB AND DFRC WHICH ARE TO BE TREATED AS BUSINESS INCOME. 2 3. BOTH THE APPEALS INVOLVING SAME ISSUE WERE HEARD TOGETHER AND ARE BEING DISPOSED OFF BY THIS CONSOLIDATED ORDER T HE SAKE OF CONVENIENCE. 4. BOTH THE LD. REPRESENTATIVES PLACED RELIANCE ON THE SUBMISSIONS MADE IN THE EARLIER GROUP OF CASES WITH LEAD ORDER IN M/S FITEX INDUSTRIES LUDHIANA VS. A.C.I.T.-V LUDH IANA IN ITA NO.956/CHD/2006 RELATING TO ASSESSMENT YEAR 2003-04 & OTHERS (DATE OF ORDER 30.6.2011). 5. WE HAVE HEARD THE SUBMISSIONS OF BOTH THE PARTIE S AND PERUSED THE RECORD. THE ISSUE OF ASSESSABILITY OF RECEIPT S ON TRANSFER OF DEPB HAS ARISEN BEFORE THE TRIBUNAL IN THE GROUP CA SES WITH LEAD ORDER IN M/S FITEX INDUSTRIES & OTHERS (SUPRA). TH E TRIBUNAL VIDE ORDER DATED 30.6.2011 HAS APPLIED THE RATIO LAID D OWN BY THE HON'BLE BOMBAY HIGH COURT IN KALAPATARU COLOURS & C HEMICALS [328 ITR 451 (BOM)] WHICH WAS APPROVED BY THE JURI SDICTIONAL HIGH COURT IN THE CASE OF CIT VS. F.C.SONDHI & COMP ANY (P) LTD. THE TRIBUNAL VIDE ITS ORDER DATED 30.6.2011 HAD DIR ECTED THE ASSESSING OFFICER TO RECOMPUTE THE DEDUCTION UNDER SECTION 80HHC OF THE ACT IN LINE WITH THE DIRECTIONS IN THE PARAS THEREIN AFTER ALLOWING REASONABLE OPPORTUNITY OF HEARING TO THE A SSESSEE IN THE CAPTIONED APPEALS. 6. THE ISSUE IN CAPTIONED APPEAL BEFORE US IS IDENT ICAL TO THE ISSUE RAISED IN M/S FITEX INDUSTRIES & OTHERS (SUPR A) AND OUR ORDER IN M/S FITEX INDUSTRIES & OTHERS (SUPRA) SHALL APPL Y MUTATIS 3 MUTANDIS TO THIS APPEAL ALSO. THE ASSESSEE BEFORE U S HAS TURNOVER EXCEEDING RS.10 CRORES. THE ASSESSING OFFICER IS D IRECTED TO COMPUTE THE DEDUCTION UNDER SECTION 80HHC IN LINE W ITH OUR DIRECTIONS IN THE AFORESAID ORDER AFTER AFFORDING REASONABLE OPPORTUNITY TO THE ASSESSEE. 7. ACCORDINGLY THE CAPTIONED APPEAL OF THE REVENUE IS DISPOSED OFF AS INDICATED ABOVE FOLLOWING THE DIRECTIONS OF HON'BLE BOMBAY HIGH COURT IN KALAPATRU COLOURS & CHEMICALS (SUPRA) WHICH HAS SINCE BEEN APPROVED BY THE HON'BLE JURISDICTIONAL C OURT. REGISTRY IS DIRECTED TO ENCLOSE COPY OF ORDER IN FITEX INDUS TRIES & OTHERS (SUPRA) FOR READY REFERENCE. 8. IN THE RESULT BOTH THE CAPTIONED APPEALS ARE AL LOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 30 TH DAY OF SEPTEMBER 2011. SD/- SD/- (MEHAR SINGH) (SUSHMA CHOWLA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 30 TH SEPTEMBER 2011 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT CHANDIGARH 4