C I T vs. M/S RAMCO INTERANTIONAL

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ITA/417/2008HC Punjab & HaryanaPHHC01080407200808 December 2008Author: MR. JUSTICE L.N. MITTAL,MR. JUSTICE ADARSH KUMAR GOEL4 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the ITAT was correct in upholding the assessee's claim for deduction under Section 80IB. The Tribunal had found that Form 10CCB was filed during the assessment proceedings, and based on this, the claim was admissible. The Court reasoned that since the necessary documents and form were submitted during the assessment, and the assessee was not making a fresh claim, there was no requirement to file a revised return. Consequently, the Supreme Court's judgment in Goetze India Limited v. CIT, which deals with claims made without a revised return, was deemed not applicable to the facts of this case. The Court concluded that no substantial question of law arose from the ITAT's order. The appeal was dismissed.

What were the facts?

The revenue, Commissioner of Income Tax, Jalandhar I, filed an appeal under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITAT), Amritsar Bench. The ITAT had upheld the assessee's (M/s Ramco International) claim for deduction under Section 80IB for the assessment year 2003-04. The assessee had furnished Form 10CCB and other requisite documents during the assessment proceedings. The Assessing Officer made the assessment without referring to these documents. The appellate authority upheld the assessee's claim, and the ITAT confirmed this decision. The dispute centers on whether the deduction could be allowed when not claimed in the original or a revised return.

What were the issues?

1. Whether, on the facts and in the circumstances of the case and in law, the ITAT was right in allowing the assessee’s claim for deduction under Section 80IB, which the assessee had neither claimed in the return of income nor through a revised return of income? (Question of law) 2. Whether, on the facts and in the circumstances of the case, the decision of ITAT is not contrary to the law as spelt out by the Hon’ble Supreme Court in Goetze (India) Limited v. CIT, 284 ITR 323 (SC) and Additional Commissioner of Income Tax v. Gurjargravures P.Limited, 111 ITR 1 (SC)? (Question of law) Contentions: Assessee: The assessee contended that Form 10CCB and other requisite documents were furnished during the assessment proceedings, and the claim was admissible based on these documents. The ITAT found that the claim was admissible as per Form 10CCB filed during assessment and that there was no requirement for a revised return as the assessee was not making a fresh claim. Revenue: The revenue argued that the assessee made the claim by way of an application without filing a revised return, and therefore, the judgment of the Hon’ble Supreme Court in Goetze India Limited v. CIT, 284 ITR 323 was applicable, precluding the allowance of the deduction.

Which sections of the Income-tax Act were involved?

Section 260A,Section 80IB

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Date of decision: 8.12.2008 The Commissioner of Income Tax, Jalandhar I, Jalandhar -----Appellant Vs. M/s Ramco International Dhogri Road, Near Pathankot Bye Pass, Jalandhar. --Respondent CORAM:- HON'BLE MR JUSTICE ADARSH KUMAR GOEL HON'BLE MR JUSTICE L.N.MITTAL Present: Mr. Vivek Sethi, advocate for the revenue. Adarsh Kumar Goel,J.

1.

The revenue has preferred this appeal under section 260A of the Income Tax Act, 1961 (in short, ‘the Act’) against the order of Income Tax Appellate Tribunal, Amritsar Bench, Amritsar dated 12.10.2007, passed in ITA No.213(ASR)/2007 for the assessment year 2003-04, proposing to raise following substantial questions of law:- “1. Whether, on the facts and in the circumstances of the case and in law, the ITAT was right in law in allowing assessee’s claim for deduction under section 80IB, which the assessee had neither claimed in the return of income nor through a revised return of income?

2.

Whether on the facts and in the circumstances of the case, the decision of ITAT is not contrary to the law as spelt out by the Hon’ble Supreme Court in Goetze (India) Limited v. CIT, 284 ITR 323 (SC) and Additional Commissioner of Income Tax v. Gurjargravures P.Limited, 111 ITR 1 (SC)?”

2.

The assessee claimed deduction under section 80IB of the Act and though Form 10CCB and other requisite documents were furnished, the Assessing Officer without referring to the said documents made assessment. On appeal, the appellate authority upheld the claim of the assessee. The Tribunal has upheld the said view.

3.

Learned counsel for the revenue submits that the assessee made claim by way of an application without filing a revised return and in such a situation, judgment of the Hon’ble Supreme Court in Goetze India Limited v. CIT, 284 ITR 323 was applicable and deduction could not be allowed.

4.

We are unable to accept the submission. The Tribunal has considered this issue and found that as per Form 10CCB filed during assessment proceedings, the claim of the assessee was admissible. Finding of the Tribunal is as under:- “19. In view of the above, we find no error in the order of the learned CIT(A). It has correctly been held by the first appellate authority, inter alia that as per Form No.10CCB filed during the assessment proceedings, the claim made by the assessee was admissible and the same remained to be allowed. The order of the learned CIT(A) is hereby upheld in view of the above discussion. The grievance of the departmennt stands rejected.”

5.

In view of the finding that the assessee was not making any fresh claim and had duly furnished the documents and submitted Form for claim under section 80IB, there was no requirement for filing any revised return. The judgment relied upon was not applicable.

6.

Accordingly, we are unable to hold that any substantial question of law arises.

7.

The appeal is dismissed. (Adarsh Kumar Goel) Judge December 8, 2008 (L.N.Mittal) ‘gs’ Judge

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