SECTRON EXPORTS, v. ASST CIT CIR 14(1),

MA 218/MUM/2013 | 2000-2001
Pronouncement Date: 09-10-2013 | Result: Allowed

Appeal Details

RSA Number 21819924 RSA 2013
Assessee PAN AABFS1150Q
Bench Mumbai
Appeal Number MA 218/MUM/2013
Duration Of Justice 3 month(s) 20 day(s)
Appellant SECTRON EXPORTS,
Respondent ASST CIT CIR 14(1),
Appeal Type Miscellaneous Application
Pronouncement Date 09-10-2013
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted K
Tribunal Order Date 09-10-2013
Assessment Year 2000-2001
Appeal Filed On 19-06-2013
Judgment Text
K IN THE INCOME TAX APPELLATE TRIBUNAL K BENCH MUMBAI .. !'# $ $ $ $ %$$ $&; ( !'# !) BEFORE SHRI P.M. JAGTAP AM AND SHRI VIVEK VARMA J M %$%$ $'* 218 /MUM/2013 ARISING OUT OF MA NO. 682/M/2010 ITA NO. 5150/MUM/2007 ( (* & $.& (* & $.& (* & $.& (* & $.& / / / / ASSESSMENT YEAR : 2000-01) M/S SETRON EXPORTS 599 4 TH FLOOR KAPADIA CHAMBERS J.S.S. ROAD MUMBAI 400 002. * * * * / VS. THE ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 14(1) EARNEST HOUSE NARIMAN POINT MUMBAI 400 021. #0 !./ PAN :AABFS 1150Q (APPLICANT) .. RESPONDENT ) APPLICANT BY : SHRI ISHWAR RATHI ASSESSEE BY : SHRI O.P. SINGH !*$ 1 / // / DATE OF HEARING : 27-09-2013 23. 1 / DATE OF PRONOUNCEMENT : 09-10-2013 '4 / O R D E R PER P.M. JAGTAP A.M . : BY THIS MISC. APPLICATION THE ASSESSEE IS SEEKING RECTIFICATION OF THE ORDER OF THE TRIBUNAL DATED 8-10-2009 PASSED IN ITA NO. 5150/MUM/2007 RE AD WITH ORDER DATED 12-1-2011 PASSED IN MA NO. 682/MUM/2010. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. IT IS OBSERVED THAT THE ISSUE INVOLVED IN THE APPEAL OF THE ASSESSEE BEING ITA NO. 5150/MUM/2007 RELATING TO TH E ALLOWABILITY OF DEDUCTION U/S 80HHC OF THE ACT ON DEPB INCENTIVES WAS DECIDED BY THE TRIBUNAL PARTLY IN FAVOUR OF THE ASSESSEE VIDE ITS ORDER DATED 8-10-2009 FOLLOWI NG THE DECISION OF SPECIAL BENCH OF ITAT IN THE CASE OF TOPMAN EXPORTS REPORTED IN 316 ITR 87 (MUM)[SB](AT). SUBSEQUENTLY THE SAID DECISION OF THE SPECIAL BENC H OF ITAT IN THE CASE OF TOPMAN EXPORTS (SUPRA) WAS REVERSED BY THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS & CHEMICALS 328 ITR 421 (BOM.) A ND KEEPING IN VIEW THE SAME MA 218/MUM/2013 2 THE MISC. APPLICATION FILED BY THE REVENUE BEING M. A. NO. 682/MUM/2010 WAS ALLOWED BY THE TRIBUNAL MODIFYING ITS ORDER DATED 8 -10-2009 AND RESTORING THE MATTER TO THE FILE OF THE A.O. FOR DECIDING THIS ISSUE IN TH E LIGHT OF THE DECISION OF HONBLE BOMBAY HIGH COURT IN THE CASE OF KALPATARU COLOURS & CHEMICALS (SUPRA). AS SUBMITTED BY THE ASSESSEE IN THE PRESENT MISC. APPL ICATION THE DECISION OF HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KALPATARU COLOURS & CHEMICALS (SUPRA) HAS NOW BEEN REVERSED BY THE HONBLE SUPREME COURT IN T HE CASE OF TOPMAN EXPORTS VS. CIT 342 ITR 39 (SC) AND THE DECISION OF THE TRIBUN AL RENDERED VIDE ITS ORDER DATED 8-10-2009 READ WITH ORDER DATED 12-1-2011 IN MA NO. 682/MUM/2010 IS CONTRARY TO THE SUBSEQUENT DECISION OF THE HONBLE SUPREME COUR T IN THE CASE OF TOPMAN EXPORTS (SUPRA) GIVING RISE TO A MISTAKE APPARENT FROM RECO RD IN THE ORDER OF THE TRIBUNAL AS HELD BY THE SUPREME COURT IN THE CASE OF ACIT VS. SAURAS HTRA KUTCH STOCK EXCHANGE LTD. (2008) 305 ITR 227 (SC). SINCE THIS POSITION IS AG REED EVEN BY THE LD. D.R. WE RECTIFY THE MISTAKE IN THE ORDER OF THE TRIBUNAL BY DIRECTI NG THE A.O. TO ALLOW THE CLAIM OF THE ASSESSEE FOR DEDUCTION U/S 80HHC ON DEPB INCENTIVES KEEPING IN VIEW THE DECISION OF THE HONBLE SUPREME COURT IN THE CASE OF TOPMAN EXP ORTS (SUPRA). 3. IN THE RESULT THE MISC. APPLICATION FIL ED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 9 TH OCTOBER 2013. . . '4 1 23. 5'*6 09-10-2013 3 1 SD/- SD/- (VIVEK VARMA) ( P.M. JAGTAP ) !'# / JUDICIAL MEMBER ( !'# / ACCOUNTANT MEMBER MUMBAI ; 5'* DATED 09-10-2013 .(*.!./ A.K.PATEL PS MA 218/MUM/2013 3 '4 1 =(>% ?%. '4 1 =(>% ?%. '4 1 =(>% ?%. '4 1 =(>% ?%./ COPY OF THE ORDER FORWARDED TO : 1. 0@ / THE APPELLANT 2. =A0@ / THE RESPONDENT. 3. B () / THE CIT(A)- MUMBAI CONCERNED 4. B / CIT MUMBAI CONCERNED 5. %$E =((* / DR ITAT MUMBAI D BENCH 6. F& G / GUARD FILE. '4*! '4*! '4*! '4*! / BY ORDER !A% =( //TRUE COPY// H H H H/ // /!I !I !I !I ( DY./ASSTT. REGISTRAR) / ITAT MUMBAI