Income Tax Appellate Tribunal - Panji
Bandekar Bros. (P) Ltd., Vasco vs Acit Circle-2, Margao, Margao on 3 January, 2017
1
C.O NO.24/PNJ/2014
ARRISING OUT OF ITA NO.81/PNJ/2014
IN THE INCOME TAX APPELLATE TRIBUNAL
PANAJI BENCH, PANAJI
BEFORE SHRI JUSTICE DEV DARSHAN SUD, HON'BLE PRESIDENT,
SHRI JOGINDER SINGH, HON'BLE JUDICIAL MEMBER &
SHRI R C SHARMA, HON'BLE ACCOUNTANT MEMBER
CROSS OBJECTION NO.24/PNJ/2014
ARRISING OUT OF ITA NO.81/PNJ/2014
(Asst. Year: 2008-09)
M/s Bandekar Brothers Pvt. Ltd., v. ACIT, Circle - 2
Suvarn Bandekar Bldg., Madgao, Goa
P.B. No.11, Swatantra Path,
Vasco-da-Gama, Goa,
PAN No. AAACB 5502 B
(Appellant) (Respondent)
Assessee by : Shri Mihir Naniwadekar - Adv.
Department By : Shri K Mehboob Ali Khan - D.R
Date of hearing : 03/01/17.
Date of pronouncement : 03/01/17.
ORDER
PER JUSTICE DEV DARSHAN SUD, HON'BLE PRESIDENT This case has been put up before us to resolve the following question:
"can the expenditure incurred on the renovation of a temple be considered as expenditure incurred towards corporate social responsibility and hence allowable under Section.37(1) of the Act?"
2. At the outset Learned Counsel for the Assessee has pointed out that on the principle of law, in the case of Commissioner of Income Tax Vs. Prime Minerals Exports Pvt. Ltd, the Hon'ble High Court of Bombay at Goa, has admitted this very question of law for determination. He 2 C.O NO.24/PNJ/2014 ARRISING OUT OF ITA NO.81/PNJ/2014 has placed on record the order of admission passed by the Hon'ble Chief Justice in Tax Appeal No.24 of 2014 on 05th March, 2014 :-
"Appeal is admitted on the following substantial question of law:-
(A) Whether ITAT is right in deleting the additions of ₹.10.70 lakhs and allowing the expenditure incurred on renovation of temple when there is no 'proximate nexus' between the business and the expenditure incurred..........
3. In the circumstances since the answer to the question raised before us is pending adjudication before the Hon'ble High Court in Prime Minerals case we do not consider it necessary to adjudicate the reference at this stage. Reference is discharged. Petition disposed of.
Order Pronounced in the Court at the close of the hearing on Tuesday, the 03rd day of January, 2017 at Goa.
Sd/- Sd/- Sd/-
(R C SHARMA) (JOGINDER SINGH) (JUSTICE DEV DARSHAN SUD)
ACCOUNTANT MEMBER JUDICIAL MEMBER PRESIDENT
Dated : 03 r d January, 2017.
VSSG BABU/-
Co py t o:
1. Th e A s s e s s e e.
2. Th e R ev en u e .
3. Th e Pr . CI T
4. Th e CI T( A )
5. Th e D .R .
6. Gu a r d fil e .
By order
Assistant Registrar
I.T.A.T., Panaji