ITO 6(2)(4), MUMBAI v. KOBAIN ELECTRONICS INDIA P. LTD, MUMBAI

ITA 967/MUM/2009 | 2005-2006
Pronouncement Date: 28-09-2011 | Result: Partly Allowed

Appeal Details

RSA Number 96719914 RSA 2009
Assessee PAN AABCK5701C
Bench Mumbai
Appeal Number ITA 967/MUM/2009
Duration Of Justice 2 year(s) 7 month(s) 15 day(s)
Appellant ITO 6(2)(4), MUMBAI
Respondent KOBAIN ELECTRONICS INDIA P. LTD, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 28-09-2011
Appeal Filed By Department
Order Result Partly Allowed
Bench Allotted A
Tribunal Order Date 28-09-2011
Date Of Final Hearing 14-03-2017
Next Hearing Date 14-03-2017
Assessment Year 2005-2006
Appeal Filed On 12-02-2009
Judgment Text
1 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A BEFORE SHRI D.K. AGARWAL J.M. AND SHRI R.K. PANDA A.M. ITA NO. 967/MUM/2009 ASSESSMENT YEAR 2005-06 INCOME TAX OFFICER 6(2)(4) R. NO. 562 AAYKAR BHAWAN M.K. ROAD MUMBAI - 20. VS. M/S KOBIAN ELECTRONICS INDIA P. LTD. 3 CHUNILAL MEHTA COMPOUND HARISH ARJUN PALAV MARG VICTORIA GARDEN BYCULLA (E) MUMBAI.400027. PAN AABCK5701C APPELLANT RESPONDENT APPELLANT BY MRS. REENA JHA TRIP ATHI RESPONDENT BY DR. K. SHIVARAM DATE OF HEARING 28.07.2011 DATE OF PRONOUNCEMENT 28.9.2011 ORDER PER R.K. PANDA A.M. THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAIN ST THE ORDER DT. 10.12.2008 OF CIT(A)- VI MUMBAI RELATING TO A.Y. 2005-06. 2. THE GROUNDS OF APPEAL NO. 1 RAISED BY THE REVENU E READ AS UNDER:- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD. CIT(A) ERRED IN HOLDING THAT EXPORT ENTITLEMENT FOR AN AMOUNT OF RS.4 01 27 829/- WHICH WAS CREDITED THE ASSESSEE IN THE P & L A/C AS INCOME IS NOT IN THE NATURE OF INCOME EITHER U/S.2 8(IIIA) OR 28(IV) OF THE I.T. ACT. 2 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. 2.1 FACTS OF THE CASE IN BRIEF ARE THAT THE A.O. DU RING THE COURSE OF ASSESSMENT PROCEEDINGS NOTED THAT THE ASSESSEE HAS SHOWN THE FOLLOWING INCOME AS INCOME FROM OTHER SOURCES:- I. INTEREST FROM FIXED DEPOSITS RS.1.24 LAKHS II. OTHER INTEREST RS.0.07 LAKHS III. MISC. INCOME RS.0.77 LAKHS IV. PROFIT ON SALE OF ASSETS RS.1.04 LAKHS V. EXPORT ENTITLEMENT RS.401.28 LAKHS VI. EXCHANGE RATE FLUCTUATION RS.32.76 LAKHS HE NOTED THAT THE EXPORT ENTITLEMENT IS AN INCOME W HICH FALLS WITHIN THE PURVIEW OF SECTION 28(IIIA). ACCORDING TO THE AO T HE ASSESSEE HIMSELF HAS SHOWN THIS INCOME AS BUSINESS INCOME. THIS AMOUNT H AS BEEN CREDITED TO THE P&L A/C AND THE ASSESSEE HIMSELF HAS INCLUDED THIS AMOUNT IN THE COMPUTATION OF INCOME WHILE FILING THE RETURN OF IN COME AND CLAIMED DEDUCTION U/S.80-IB. 2.2 ON BEING QUESTIONED BY THE A.O. IT WAS SUBMITTE D THAT THE INCOME COULD NOT ACCRUE ON THE DATE OF EXPORT AS LICENSE IS DEPE NDENT ON THE REALIZATION OF THE EXPORT PROCEEDS. LICENSES CANNOT BE AWARDED TIL L CERTAIN CONDITIONS ARE FULFILLED. MOREOVER SECTION 28(IIIA) PROVIDES THAT SALE OF IMPORT LICENSES IS TAXABLE. THERE IS NO SALE OF ANY IMPORT LICENSE IN THE CASE OF THE ASSESSEE. THEREFORE THE IMPORT ENTITLEMENT DOES NOT FALL WIT HIN THE SCOPE OF 28(IIIA) AND HENCE THE SAME IS NOT TAXABLE. THE LICENSES ARE NOT EVEN APPLIED FOR OR AWARDED ON THE DATE OF BALANCE SHEET. THE AMOUNT SHOWN IN T HE P & L A/C AND IN THE COMPUTATION OF INCOME IS A MERE ESTIMATE OF LIKELY BENEFIT WHICH CANNOT BE TAXED IN THE HANDS OF THE ASSESSEE. VARIOUS DECISIO NS WERE BROUGHT TO THE NOTICE OF THE A.O. TO THE PROPOSITION THAT NOTWITHS TANDING THE CREDIT IN THE BOOKS OF ACCOUNTS SUCH BENEFIT IS TAXABLE ONLY WHE N THE SALE OF IMPORT LICENSE TAKES PLACE AND NOT IN THE YEAR OF CREDIT. IT WAS S UBMITTED THAT THE INCOME FROM 3 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. IMPORT LICENSE ACCRUES ONLY WHEN THE SAME IS SOLD A ND NOT WHEN THE SAME IS GRANTED. 2.3 REJECTING THE VARIOUS SUBMISSIONS OF THE ASSESS EE THE A.O. EXCLUDED THE EXPORT INCENTIVE OF ` 4 01 27 829/- FROM THE EXPORT TURNOVER FOR THE PUR POSE OF CALCULATION OF 80 HHC DEDUCTION TREATING THE SAME T O BE SIMILAR TO DEPB. 2.4 THE ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A). BASED ON THE ARGUMENTS ADVANCED BEFORE HIM AND AFTER CONSIDERING THE REMAND REPORT OF THE A.O. THE LD. CIT(A) HELD THAT IMPORT ENTITLEMENTS ARE NOT AN INCOME AS THEY DO NOT FALL UNDER THE PURVIEW OF SECTION 28(IIIA) OR 2 8(IV) ALTHOUGH THE ASSESSEE HAS SHOWN THEM AS INCOME IN THE P&L A/C AND ALSO INCLUD ED THEM IN THE COMPUTATION OF INCOME. RELYING ON THE DECISION OF T HE HONBLE SUPREME COURT IN THE CASE OF TUTICORIN ALKALI CHEMICALS & FERTILI ZERS LTD. VS. CIT (227 ITR 172) (SC) HE HELD THAT ENTRIES IN THE BOOKS OF ACCOUNT A RE NOT CONCLUSIVE PROOF THAT ANY AMOUNT IS INCOME OR LOSS IN THE HANDS OF THE AS SESSEE. ACCORDING TO HIM THE ACCRUAL OF IMPORT ENTITLEMENT WOULD DEPEND ON M ANY FACTORS WHICH MUST BE FULFILLED BY THE ASSESSEE BEFORE IT GETS ITS IMP ORT ENTITLEMENT. HE NOTED THAT THE ASSESSEE HAS NOT APPLIED FOR THE GRANT OF IMPOR T ENTITLEMENT IN THIS YEAR. IT HAS ALSO NOT RECEIVED ANY IMPORT LICENSE. THEREFORE THE CREDIT OF ESTIMATED AMOUNT OF IMPORT LICENSE IN THE P&L A/C WOULD NOT A MOUNT TO INCOME OF THE ASSESSEE. ACCORDING TO THE LD. CIT(A) UNDER SECTION 28(IIIA) ONLY THE PROFITS AND GAINS ON SALE OF IMPORT LICENSE ARE TAXABLE IN THE HANDS OF THE ASSESSEE. THE ASSESSEE HAS NOT RECEIVED THESE LICENSES IN THIS YE AR. THE QUESTION OF SALE OR PROFIT DERIVED FROM SALE OF THESE LICENSES DO NOT A RISE. HE RELIED ON THE DECISION ITAT MUMBAI A BENCH IN THE CASE OF JAMSHRI RANJIT SINGHJI SPG. & WVG. MILLS LTD. VS. INSPECTING ASSISTANT COMMISSIONER (41 ITD 142) AND NOTED THAT THE ASSESSEES CASE IS COVERED BY THIS DECISION. IN THI S CASE ALSO THE ASSESSEE HAS ACCOUNTED FOR IMPORT ENTITLEMENT ON ESTIMATE BASIS WITHOUT RECEIVING THEM. THERE IS NO PROFIT AS THERE IS NO SALE OF THESE IMP ORT LICENSES. HENCE PROVISIONS 4 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. OF SECTION 28(IIIA) DOES NOT APPLY. THE ASSESSEE H AS ALSO NOT DERIVED ANY BENEFIT OUT OF THESE IMPORT ENTITLEMENTS IN THIS YEAR AS TH ESE IMPORT ENTITLEMENTS ARE YET TO BE RECEIVED. HENCE THESE ARE NOT INCOME WH ICH CAN BE TAXED EVEN UNDER 28(IV). ACCORDINGLY HE DIRECTED THE A.O. TO EXCLUD E THE EXPORT ENTITLEMENT FROM THE INCOME OF THE ASSESSEE. AGGRIEVED WITH SUCH ORD ER OF THE LD. CIT(A) THE REVENUE IS IN APPEAL BEFORE US. 3. THE LD. D.R. AT THE OUTSET SUBMITTED THAT THE ABOVE ISSUE IS DECIDED IN FAVOUR OF THE REVENUE AND AGAINST THE ASSESSEE BY T HE DECISION OF THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS AND CHEMICALS REPORTED IN [2010] 328 ITR 451 (BOM). THEREFORE TH E LD. CIT(A) IS NOT JUSTIFIED IN DIRECTING THE A.O. TO EXCLUDE THE EXPORT ENTITLE MENT FROM THE INCOME OF THE ASSESSEE BY HOLDING THAT THE EXPORT ENTITLEMENT OF ` 4 01 27 829/- WHICH WAS CREDITED BY THE ASSESSEE IN THE P&L A/C AS INCOME IS NOT IN THE NATURE OF INCOME EITHER U/S 28(IIIA) & 28(IV) OF THE I.T. ACT . 4. THE LD. COUNSEL FOR THE ASSESSEE ON THE OTHER HA ND WHILE RELYING ON THE ORDER OF THE LD. CIT(A) SUBMITTED THAT THE HONBLE BOMBAY HIGH COURT IN THE CASE OF KALPATARU COLOUR & CHEMCIALS (SUPRA) HAS DE CIDED THE ISSUE RELATING TO CLAUSE (IIIA) IN SECTION 28 WHEREAS IN THE CASE OF THE ASSESSEE IT IS 28(IIID). HE SUBMITTED THAT WHEN THE ASSESSEE HAS NOT MADE ANY A PPLICATION TO GOVERNMENT THERE IS NO QUESTION OF ANY ACCRUAL OF INCOME TO THE ASSESSEE. 4.1 REFERRING TO PARA 2.4 OF THE ORDER OF THE LD. C IT(A) THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE LD. CIT(A) HAS GIVEN A CATEGORICAL FINDING THAT ALTHOUGH THE ASSESSEE HAS CREDITED THE IMPORT ENTIT LEMENT IN THE P&L ACCOUNT AND INCLUDED THE SAME IN THE COMPUTATION OF INCOME THE ASSESSEE DURING THE COURSE OF ASSESSMENT PROCEEDINGS HAD CLAIMED THAT T HE IMPORT LICENSE ARE NOT INCOME AND THEREFORE IT SHOULD BE EXCLUDED FROM THE TOTAL INCOME OF THE ASSESSEE. REFERRING TO PAGE 35 TO 39 OF THE PAPER BOOK HE SUBMITTED THAT THE 5 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. LICENSE WAS GRANTED ON 13.1.2006 AND THE ASSESSEE H AS GIVEN FULL DETAILS BEFORE THE LD. CIT(A) REGARDING ITS UTILIZATION. THE YEAR ENDING OF THE ASSESSEE IS 31 ST MARCH 2005. 4.2 REFERRING TO PAGE 55 TO 59 OF THE PAPER BOOK H E DREW THE ATTENTION OF THE BENCH TO THE COPY OF THE LETTER DT. 18.12.07 ADDRES SED TO THE A.O. REFERRING TO PAGE 93 OF THE PAPER BOOK HE DREW THE ATTENTION OF THE BENCH TO VARIOUS SUBMISSIONS MADE BEFORE THE LD. CIT(A). REFERRING T O THE DECISION OF HONBLE PUNJAB & HARYANA HIGH COURT IN THE CASE OF CIT VS. PUNJAB BONE MILL REPORTED IN 232 ITR 795 HE SUBMITTED THAT THE HONBLE HIGH COURT IN THE SAID DECISION HAS HELD THAT RIGHT TO RECEIVE CASH INCENTIVES ACCR UES ONLY WHEN ASSESSEE FILES ITS CLAIM FOR IT. REFERRING TO THE DECISION OF HON BLE SUPREME COURT IN THE CASE OF CIT VS. PUNJAB BONE MILL LTD. REPORTED IN 251 IT R 780 HE SUBMITTED THAT THE HONBLE SUPREME COURT IN THE SAID DECISION HAS APPR OVED THE DECISION OF HONBLE PUNJAB & HARYANA HIGH COURT. 4.3 REFERRING TO THE DECISION OF THE CO-ORDINATE BE NCH OF THE TRIBUNAL IN THE CASE OF CHICAGO PNEUMATIC INDIA LTD. REPORTED IN 15 SOT 252 HE SUBMITTED THAT SINCE THE ASSESSEE HAS ESTABLISHED THAT IT MAD E APPLICATION TO THE GOVERNMENT IN THE SUBSEQUENT ASSESSMENT YEAR BY ADD UCING AMPLE EVIDENCE THEREFORE THE SAME SHOULD NOT BE DOUBTED. HE SUBM ITTED THAT THE A.O. IS BOUND TO ASSESS THE CORRECT INCOME AND FOR THIS PUR POSE THE A.O. MAY GRANT RELIEFS/REFUNDS SUO MOTU OR CAN DO SO ON BEING POIN TED OUT BY THE ASSESSEE DURING THE COURSE ASSESSMENT PROCEEDINGS FOR WHICH THE ASSESSEE HAS NOT FILED REVISED RETURN. HE SUBMITTED THAT IT IS NOT THE CA SE OF THE REVENUE THAT BECAUSE OF NON-FILING OF REVISED RETURN THE ASSESS EE IS NOT ENTITLED FOR DEDUCTION U/S 80HHC. 5. THE LD. D.R. IN HER REJOINDER SUBMITTED THAT T HE MATTER MAY BE SET ASIDE TO THE FILE OF THE A.O. TO VERIFY THE SUBMISSIONS O F THE LD. COUNSEL. 6 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. 6. WE HAVE CONSIDERED THE RIVAL ARGUMENTS MADE BY B OTH THE SIDES PERUSED THE ORDERS OF THE ASSESSING OFFICER AND THE CIT(A) AND THE PAPER BOOK FILED ON BEHALF OF THE ASSESSEE. WE HAVE ALSO CONSIDERED THE VARIOUS DECISIONS CITED BEFORE US. WE FIND THE A.O. DISALLOWED THE CLAIM OF DEDUCTION OF EXPORT ENTITLEMENT OF ` 401.28 LACS FROM THE PROFITS FOR CALCULATION OF DE DUCTION U/S 80HHC ON THE GROUND THAT THE SAME IS AN INCOME WHIC H FALLS WITHIN THE PURVIEW OF SECTION 28(IIIA). ACCORDING TO THE A.O. SINCE THE ASSESSEE HAS ALREADY SHOWN THE SAME AS BUSINESS INCOME AND CREDITED THE SAME IN THE P&L A/C AND HAS INCLUDED THE SAME IN THE COMPUTATION OF INCOME FOR CLAIMING THE DEDUCTION U/S 80IB OF THE ACT THEREFORE THE SAME HAS TO BE INCLUDED AS INCOME OF THE ASSESSEE. WE FIND THE LD. CIT(A) ALLOWED THE CLAIM OF THE ASSESSEE ON THE GROUND THAT IMPORT ENTITLEMENTS ARE NOT INCOME FOR THIS YEAR AND THEY DO NOT FALL UNDER THE PURVIEW OF SECTION 28(IIIA) OR 28(IV ) ALTHOUGH THE ASSESSEE HAS SHOWN THEM AS INCOME IN THE P&L A/C AND ALSO INCLUD ED THEM IN THE COMPUTATION OF INCOME. ACCORDING TO HIM ENTRIES I N THE BOOKS OF ACCOUNT ARE NOT CONCLUSIVE PROOF THAT ANY AMOUNT IS INCOME OR L OSS IN THE HANDS OF THE ASSESSEE IN VIEW OF THE DECISION IN THE CASE OF TUT ICORIN ALKALI CHEMICALS & FERTILISERS LTD. (SUPRA). 6.1 IT IS THE SUBMISSION OF THE LD. D.R. THAT THE I SSUE STANDS COVERED IN FAVOUR OF THE REVENUE IN VIEW OF THE DECISION OF HO NBLE BOMBAY HIGH COURT IN THE CASE OF KALPATARU COLOURS AND CHEMICALS LTD. IT IS THE SUBMISSION OF THE LD. COUNSEL FOR THE ASSESSEE THAT THE ISSUE BEFORE HON BLE BOMBAY HIGH COURT WAS U/S 28(IIIA) WHEREAS THE ISSUE IN THE INSTANT CASE IS U/S 28(IIID). ACCORDING TO THE LD. COUNSEL THE ASSESSEE HAS APPLIED TO THE GO VERNMENT FOR GRANT OF THE EXPORT ENTITLEMENT IN THE SUBSEQUENT YEAR AND THER EFORE THE SAME CANNOT BE TREATED AS INCOME DURING THE YEAR DESPITE CREDIT OF THE EXPORT ENTITLEMENT TO THE PROFIT AND LOSS ACCOUNT ON NOTIONAL BASIS. FROM THE VARIOUS SUBMISSIONS MADE BY THE ASSESSEE VIDE HIS PAPER BOOK WE FIND THE LI CENSE GRANTED TO THE ASSESSEE IS ON 13.1.2006 WHEREAS THE ASSESSMENT YEAR INVOLVE D IS A.Y. 2005-06 I.E. YEAR 7 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. ENDING ON 31 ST MARCH 2005. HOWEVER FROM THE ABOVE DETAILS FURN ISHED BY THE ASSESSEE IT IS NOT CLEAR AS TO WHAT TREATMENT THE ASSESSEE HAS GIVEN IN THE BOOKS OF ACCOUNT AND COMPUTATION OF THE SAME IN THE SUBSEQUENT YEAR WHEN IT HAS APPLIED TO THE GOVERNMENT FOR THE EXPORT ENTITL EMENT. FURTHER THE DECISION OF THE HONBLE BOMBAY HIGH COURT IN THE CASE OF KAL PATARU COLOURS AND CHEMICALS (SUPRA) WAS NOT AVAILABLE AT THE TIME OF ASSESSMENT OR APPEAL PROCEEDINGS FOR WHICH THE APPLICABILITY OF THE SAME TO THE FACTS OF THE CASE HAS NOT BEEN CONSIDERED. UNDER THESE CIRCUMSTANCES WE ARE OF THE CONSIDERED OPINION THAT THE MATTER REQUIRES FRESH ADJUDICATION AT THE LEVEL OF THE A.O. IN THE LIGHT OF OUR ABOVE OBSERVATIONS. WE THEREFORE RESTORE THE ISSUE TO THE FILE OF THE A.O. TO DECIDE THE ISSUE AFRESH AND IN ACCOR DANCE WITH LAW AFTER GIVING DUE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. WE HOLD AND DIRECTLY ACCORDINGLY. THE GROUND RAISED BY THE REVENUE IS A CCORDINGLY ALLOWED FOR STATISTICAL PURPOSE. 7. GROUNDS OF APPEAL NO. 2(A) & 2(B) RAISED BY THE REVENUE READ AS UNDER: 2. (A) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE LD. CIT(A) ERRED IN HOLDING THAT FOR THE PURPOSE OF COMPUTATIO N OF BOOK PROFIT U/S.115JB OF THE I.T. ACT IN VIEW OF CLAUSE (IV) O F THE EXPLANATION BELOW SECTION 115JB BOOK PROFIT IS TO BE REDUCED BY THE AMOUNT OF PROFITS ELIGIBLE FOR DEDUCTION UNDER SECTION 80HHC AS CALCULATED TREATING THE BOOK PROFIT AS THE INCOME OF THE ASSES SEE AND NOT ON THE BASIS OF INCOME AS CALCULATED UNDER NORMAL PROVISIO NS OF THE I.T. ACT. B) THE LD. CIT(A) FAILED TO APPRECIATE THAT AS PER THE SAID CLAUSE (IV) OF EXPLANATION BELOW SECTION 115JB THE AMOUNT OF PROFI TS ELIGIBLE FOR DEDUCTION U/S.80HHC IS TO BE COMPUTED UNDER CLAUSE (A) OR CLAUSE (B) OR CLAUSE (C) OF SUB-SECTION (3) OR SUB-SECTION 3(A ) AS THE CASE MAY BE OF THAT SECTION AND SUBJECT TO THE CONDITIONS SPEC IFIED IN THAT SECTION. SINCE AS PER SECTION 80HHC (1B) OF I.T. ACT NO DED UCTION U/S.80HHC IS AVAILABLE FROM A.Y. 2005-06. THEREFORE EVEN AS PER SAID CLAUSE (IV) OF EXPLANATION BLOW SECTION 115JB OF THE I.T. ACT T HE AMOUNT OF PROFITS ELIGIBLE FOR DEDUCTION U/S.80HHC COMES TO RS. NIL. 8. AFTER HEARING BOTH THE SIDES WE FIND THE ABOVE I SSUE STANDS DECIDED AGAINST THE REVENUE AND IN FAVOUR OF THE ASSESSEE B Y THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF AJANTA PHARMA LTD. VS. CIT REPORTED IN 327 ITR 8 ITA 967/ M/2009 M/S KOBIAN ELECTRONICS INDIA P. LTD. 305 WHEREIN IT HAS BEEN HELD THAT 100% OF THE EXPOR T TURNOVER EARNED BY THE ASSESSEE AS COMPUTED U/S 80HHC(3) WAS ELIGIBLE FOR DEDUCTION UNDER EXPLANATION 4 TO SECTION 115JB OF THE ACT. IN VIEW OF THE BINDING DECISION OF THE HONBLE SUPREME COURT GROUNDS OF APPEAL NO. 2( A) & (B) RAISED BY THE REVENUE ARE DISMISSED. 9. IN THE RESULT THE APPEAL FILED BY THE REVENUE I S PARTLY ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED ON 28.9.2011 SD/- SD/- (D.K. AGARWAL) (R.K. PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI DATED 28.9.2011 RK COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) VI MUMBAI 4. THE CIT - 6 MUMBAI 5. THE DR BENCH C 6. MASTER FILE // TUE COPY// BY ORDER DY/ASSTT. REGISTRAR ITAT MUMBAI