M/s. Mayor & Co.,, Jalandhar v. Dy. Commissioner of Income-tax,, Jalandhar

MA 12/ASR/2012 | 2004-2005
Pronouncement Date: 19-07-2013 | Result: Allowed

Appeal Details

RSA Number 1220924 RSA 2012
Bench Amritsar
Appeal Number MA 12/ASR/2012
Duration Of Justice 1 year(s) 1 month(s) 29 day(s)
Appellant M/s. Mayor & Co.,, Jalandhar
Respondent Dy. Commissioner of Income-tax,, Jalandhar
Appeal Type Miscellaneous Application
Pronouncement Date 19-07-2013
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 19-07-2013
Date Of Final Hearing 26-04-2013
Next Hearing Date 26-04-2013
Assessment Year 2004-2005
Appeal Filed On 21-05-2012
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU JUDICIAL MEMBER AND SH. B.P.JAIN ACCOUNTANT MEMBER M.A.NO.12(ASR)/2012 (ARISING OUT OF I.T.A. NO.74(ASR)/2009) ASSESSMENT YEAR:2004-05 PAN : M/S. MAYOR & CO. VS. DY. COMMR. OF INCOME TAX JALANDHAR. RANGE-1 JALANDHAR. (APPLICANT) (RESPONDENT) APPLICANT BY: SH.SANDEEP VIJH CA RESPONDENT BY: SH.AMRIK CHAND DR DATE OF HEARING: 19/07/2013 DATE OF PRONOUNCEMENT:19/07/2013 ORDER PER BENCH ; THIS MISCELLANEOUS APPLICATION OF THE ASSESSEE ARI SES FROM THE ORDER OF THE ITAT AMRITSAR BENCH PASSED IN ITA NO.74(AS R)/2009 DATED 17.06.2011 FOR THE ASSESSMENT YEAR 2004-05. THE ASS ESSEE HAS FILED THE FOLLOWING MISCELLANEOUS APPLICATION WHICH READS AS UNDER: THIS IS WITH REFERENCE TO THE ORDER DATED 17/6/20 11 IN APPEAL NO.74(ASR)/2012. IN THE ABOVE REFERRED ORDER DEALI NG WITH THE ISSUE OF DEDUCTION U/S 80HHC IN VIEW OF THE AMENDMENT TO SE CTION 80HHC CARRIED OUT BY THE TAXATION LAWS (AMENDMENT) ACT 2005 IT WAS HELD BY THE HONBLE BENCH THAT THE ASSESSING OFFICER SH OULD RECOMUTE THE MA NO.12(ASR)/2012 2 DEDUCTION U/S 80HHC IN VIEW OF THE DECISION OF THE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS & C HEMICALS REPORTED AT 328 ITR 451. THE PRESENT LEGAL POSITION IS THAT THE ORDER OF TH E BOMBAY HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS & CHEMICA LS REPORTED AT 328 ITR 451 STANDS OVERRULED BY THE HONBLE SUPREME CO URT IN THE CASE OF TOPMAN EXPORTS VS. CIT REPORTED AT 67 DTR 185. IT IS RESPECTFULLY SUBMITTED THAT A SUBSEQUENT DECISION OF A HIGHER A UTHORITY IS A JUSTIFIED BASIS FOR RECTIFYING AN EARLIER ORDER. THIS IS BEC AUSE COURTS DO NOT PRONOUNCE A NEW LAW BUT EXPLAIN THE LAW AS IT ALWA YS EXISTED. THIS PRINCIPAL HAS BEEN UPHELD BY THE ANDHRA PRADESH HI GH COURT IN THE CASE OF B.V.K. SESHAVATARAM VS. CIT REPORTED AT 21 0 ITR 633 AND ALSO THE DECISION OF THE FULL BENCH OF THE JURISDI CTIONAL HIGH COURT IN THE CASE OF CIT VS. SMT. ARUNA LUTHRA REPORTED AT 252 ITR 76. SIMILAR VIEW HAS BEEN EXPRESSED BY THE SUPREME COURT IN TH E CASE OF ACIT VS. SAURASHTRA KUTCH STOCK EXCHANGE REPORTED AT 30 5 ITR 227. 2. THE LD. COUNSEL FOR THE ASSESSEE ARGUED THAT THE DECISION OF THE HONBLE SUPREME COURT IS LAW OF THE LAND AND IN VIE W OF THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF ACIT VS. SAURA SHTRA KUTCH STOCK EXCHANGE REPORTED AT 305 ITR 227 THERE CONSTITUTES A MISTAKE APPARENT FROM RECORD AND THEREFORE THE LD. COUNSEL SH.SANDEEP VI JH CA PRAYED TO RECALL THE ORDER OF THE TRIBUNAL DATED 17.06.2011. 3. THE LD. DR ON THE OTHER HAND OPPOSED THE SAME. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE FACTS OF THE CASE. WE ARE CONVINCED WITH THE ARGUMENTS MADE BY THE LD. COUNSEL FOR THE ASSESSEE MR. SANDEEP VIJH CA THAT IN THE MATTER D ECISION OF HONBLE SUPREME COURT IN THE CASE OF TOPMAN EXPORTS VS. CIT REPORTED IN 67 DTR MA NO.12(ASR)/2012 3 185 IS THE LAW OF THE LAND AND THE HONBLE COURT HA S EXPLAINED THE LAW AND THEREFORE IN VIEW OF THE DECISION OF HONBLE SUPRE ME COURT IN THE CASE OF ACIT VS. SAURASHTRA KUTCH STOCK EXCHANGE REPORTED A T 305 ITR 227 THIS CONSTITUTES A MISTAKE APPARENT ON RECORD AND ACCORD INGLY WE RECALL OUR ORDER DATED 17.06.2011. AFTER RECALLING THE ORDER AS AGR EED BY BOTH THE PARTIES TO ARGUE THE MATTER TODAY I.E. 19.07.2013. ACCORDINGLY THE MISC. APPLICATION OF THE ASSESSEE IS ALLOWED. 5. IN THE RESULT THE M.A.NO.12(ASR)/2012 OF THE AS SESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 19TH JULY 2013. SD/- SD/- (H.S. SIDHU) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 19 TH JULY 2013 /SKR/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE:M/S. MAYOR & CO.JALANDHAR. 2. THE DCIT R-1 JALANDHAR. 3. THE CIT(A) JLR. 4. THE CIT JLR 5. THE SR DR ITAT AMRITSAR. TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH: AMRITSAR.