ITO, CHENNAI vs. ATLAS METAL PROCESSORS PVT LTD, CHENNAI

and 2011-12. Since common issue arises for consideration in both the appeals, we heard the appeals together and disposing of by this common order.

Dr. B. Nischal, the Ld. Departmental Representative, submitted that the only issue arises for consideration is with regard to deduction under Section 10B of the Income-tax Act, 1961 (in short 'the Act'). Referring to the order of this Tribunal in assessee's own case for assessment years 2006-07 and 2008-09, the Ld. D.R. submitted that this Tribunal allowed the claim of the assessee under Section 10B of the Act. In fact, the CIT(Appeals), by following the order of this Tribunal, for assessment years 2006-07 and 2008-09, in assessee's own case, directed the Assessing Officer to allow deduction under Section 10B of the Act as a new unit. The Revenue has already filed an appeal before the High Court under Section 260A of the Act.

We heard Shri M. Karunakaran, the Ld.counsel for the assessee. According to the Ld. counsel, this Tribunal examined the issue and found that the assessee had commenced its export operation in the earlier assessment year and allowed the claim of assessment years 2006-07 and 2008-09. The CIT(Appeals), by following the order of this Tribunal, allowed the claim of the assessee. Therefore, a mere pendency of appeal before the High Court, cannot be a reason to take a contradictory view.

We have considered the rival submissions on either side and perused the relevant material on record. Admittedly, this Tribunal examined the issue for deduction under Section 10B of the Act, for the assessment years 2006-07 and 2007-08, in and 1308/Mds/2013 dated 22.11.2013. This Tribunal found that the assessee is eligible for deduction under Section 10B of the Act.

In the result, both the appeals filed by the Revenue are dismissed.