Income Tax Appellate Tribunal - Mumbai
Shree Krishna Sai Development ... vs Department Of Income Tax on 12 August, 2013
IN THE INCOME TAX APPELLATE TRIBUNAL,
MUMBAI BENCH "E", MUMBAI
BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND
DR. S.T.M. PAVALAN, JUDICIAL MEMBER
ITA Nos. 7076, 7077, 7078 & 7079/Mum/2010
Assessment Years: 2002-03, 2003-04, 2004-05, 2007-08
ITO, 17(2)(1), 216, Piramal M/s. Shree Krishna Sai
Chambers, Lalbaug, Development Corporation,
Mumbai- 7 Dada Bazar, Bhartiya Krida
Vs.
Mandir, 57, Naigaon Cross
Road, Wadala,
Mumbai- 400 004
PAN: AAKFS 7230 G
(Appellant) (Respondent)
Revenue by : Shri T. Roumuan Paite
Assessee by : Shri R.C. Jain & Ajay Daga
Date of hearing : 12.08.2013
Date of Pronouncement : 23.08.2013
ORDER
PER DR. S.T.M. PAVALAN, JM:
These four appeals filed by the Revenue are directed against the order of the Ld.CIT(A)-29, Mumbai all dated 14.07.2010 for the assessment years 2002-03, 2003-04, 2004-05 and 2007-08. Since the grounds raised by the Revenue in all the appeals are identical, the same are disposed off by this common order.
2. The issue raised in the grounds of all the appeal relate to the question of 80IB(10) deduction which has been disallowed by the AO on the ground that the project has been commenced prior to 01.10.1998 and the Ld.CIT(A) allowed the deduction relying on the decision of the ITAT in the assessees own case for the AY's 2005-06 & 2006-07 in ITA Nos. 3385 & 3386/Mum/2009 vide order dated 02.07.2010, which has been extracted in para 7 at page 14 of the order of the Ld.CIT(A). It is further observed that the said decision of the ITAT has been confirmed by the Hon'ble High Court of Bombay vide its order dated 27.07.2011 in 2 ITA Nos. 7076, 7077, 7078 & 7079/Mum/2010 M/s. Shree Krishna Sai Development Corporation Assessment Years: 2002-03, 2003-04, 2004-05, 2007-08 ITA Nos. 2307 of 2010 and 2308 of 2010 in the appeals preferred by the Revenue against the aforementioned order of the ITAT. Accordingly, we decide the issue against the Revenue and in favour of the assessee. Resultantly, the impugned orders of the Ld.CIT(A) are upheld.
3. In the result, the appeals filed by the Revenue are dismissed.
Order pronounced in the open court on this 23rd day of August, 2013.
Sd/- Sd/-
(P.M. JAGTAP) (Dr. S.T.M. PAVALAN)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Mumbai, Dated: 23.08.2013.
*Srivastava
Copy to: The Appellant
The Respondent
The CIT, Concerned, Mumbai
The CIT (A) Concerned, Mumbai
The DR "E" Bench
//True Copy// [
By Order
Dy/Asstt. Registrar, ITAT, Mumbai.