M/S. PIONEER ELASTIC INDIA PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.167/Viz/2017 (ननधधारण वषा / Assessment Year :2012-13) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) आयकर अऩीऱ सं./ I.T.A. No.05/Viz/2018 (ननधधारण वषा / Assessment Year :2013-14) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri P.V.S.S. Prasad, Ca & Sri A. Vamsi Rajesh, Ca प्रत्यधथी की ओर से / Respondent By : Sri Mn Murthy Naik, Cit-Dr सुनवधई की तधरीख / Date Of Hearing : 23/05/2022 घोषणध की तधरीख/Date Of : 27/07/2022 Pronouncement

assessment order before the Ld. DRP. The Ld. DRP after considering the submissions and the objections, disposed off the petition rejecting the contentions of the assessee except with a direction to the Ld. AO to allow the under-utilisation of capacity adjustment in accordance with the ratio laid down in the case of M/s. Petro Araldite