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Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI
Before: SHRI N.R.S. GANESAN & SHRI A. MOHAN ALANKAMONY
आदेश /O R D E R
PER N.R.S. GANESAN, JUDICIAL MEMBER:
All the four appeals of the revenue relates to four independent assessees and directed against the respective order of CIT(A) -3, Coimbatore dated 21.12.2015. Since common issue arises for consideration in all the appeals, we heard the same together and disposing of the same by this common order.
Shri A.V.Shreekanth, the learned representative for the department submitted that the only issue arises for consideration is with regard to setting of all the brought forward loss for the purpose of computing eligible deduction under Section 80IA of the Act. During the course of hearing, the department representative very fairly submitted that the issue is covered by the judgment of the Madras High Court in the case of Shri Velayudhaswamy Spinning Mills P.Ltd. reported in 231 CTR (Mds) 368. The department representative further submitted that the revenue has already filed an appeal before the Apex Court and the same is pending.
On the contrary, Shri N.Vijay Kumar, the learned representative for the assessee submitted that setting off the brought forward loss for the purpose of computing eligible deduction under Section 80IA was decided by the Madras High Court in favour of the assessee in the case of Shri Velayudhaswamy Spinning Mills P.Ltd. cited supra. The CBDT instructed its officers to accept the judgment of the Madras High Court and withdraw all the pending appeals.
Inspite of this instruction, the revenue has filed the present appeals even though the judgment of the Madras High Court is in favour of the assessee.
Therefore, the appeals filed by the revenue before this Tribunal is not maintainable.
We have considered the rival submissions on either side and also perused the material available on record. Admittedly, in all the four appeals, issue arises for consideration is setting off the brought forward loss for the purpose of computing eligible deduction under Section 80IA. It is not in dispute that the Madras High Court in Shri Velayudhaswamy Spinning Mills P.Ltd. cited supra examined this issue and decided the same in favour of the assessee.
Therefore, the issue is covered in favour of the assessee as rightly submitted by the learned representative for the assessee. The CBDT instructed its officers not to file any appeal wherever the CIT(A) has followed the judgment of the Madras High Court and also instructed its officers to withdraw its appeals wherever it is pending.
In view of this instruction, this Tribunal is of the considered opinion that the appeals filed by the revenue are not maintainable. Accordingly, the same is dismissed.
In the result, all the four appeals filed by the revenue are dismissed.
Order pronounced on 23rd September, 2016 at Chennai.