M/S MAXIM INDIA INTEGRATED CIRCUIT DESIGN PVT. LTD.,,BANGALORE vs. ITO, BANGALORE
In the result, appeal of the assessee is partly allowed for statistical purposes allowed
ITA 1305/BANG/2011[2007-08]Status: DisposedITAT Bangalore13 Mar 2020AY 2007-08
Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadaleit(Tp)A No.1305/Bang/2011 Assessment Year : 2007-08 M/S. Maxim India Integrated Circuit Income Tax Officer, Design Pvt. Ltd., Ward–12(1), #132/133, West Wing, 2Nd Floor, Vs. Bengaluru. Domlur Post, Off Old Airport Road, Bengaluru – 560 037. Pan : Aaacm 9437 E Appellant Respondent Assessee By : Shri. Padam Chand Khincha, Ca Revenue By : Shri. Pradeep Kumar, Cit (Dr)(Itat), Bengaluru Date Of Hearing : 24.02.2020 Date Of Pronouncement : 13.03.2020 O R D E R Per A. K. Garodiathis Appeal Is Filed By The Assessee & The Same Is Directed Against The Assessment Order For The Assessment Year 2007-08, Under Section 143(3) R.W.S. 144C Of The Income Tax Act, 1961. 2. This Appeal Was Already Decided By The Tribunal As Per Its Order Dated 29.09.2020 & Thereafter, The Assessee Moved A Miscellaneous Petition (Mp) & As Per The Mp No.63/Bang/2019 Dated 01.11.2019, This Tribunal Order Was Recalled By The Tribunal For A Limited Purpose For Adjudicating Additional Grounds Of Appeal. Hence, Now We Have To Decide Only The Additional Ground Raised By The Assessee Which Reads As Under:-
For Appellant: Shri. Padam Chand Khincha, CAFor Respondent: Shri. Pradeep Kumar, CIT (DR)(ITAT), Bengaluru
Section 10ASection 143(3)Section 32
depreciation of Rs.53,500/- on computers due to foreign exchange gain adjustment, then deduction under section 10A of the IT Act, 1961 should be allowed on the basis of assessed income after making these two disallowances. He submitted that this issue is being raised before the Tribunal by way of this additional ground and since this is a legal ground