Itta/389/2013 Of M/S. Sawaria Pipes Pvt Ltd v. Assistant Commissioner Of Income Tax

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE K.C. BHANU I.T.T.A. No.389 OF 2013 DATED:5.9.2013 Between:M/s. Sawaria Pipes Pvt. Ltd.,Rajendernagar Mandal,R.R. District. … Appellant And The Assistant Commissioner of Income Tax,Hyderabad. ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA ANDTHE HON’BLE SRI JUSTICE K.C. BHANU I.T.T.A. No.389 OF 2013 Judgment:(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is preferred against the judgment and order dated9.7.2012 of the learned Tribunal and is sought to be admitted on thefollowing suggested question of law : 1.Whether on the facts and circumstances of the case, theHon’ble Income Tax Appellate Tribunal is right in sustainingthe rejection of claim for deduction under Section 80IB ofthe Income Tax Act, 1961 ?Hon’ble Income Tax Appellate Tribunal is right in sustainingthe rejection of claim for deduction under Section 80IB ofthe Income Tax Act, 1961 ? We have heard the learned counsel for the appellant and have gone through the impugned judgment and order of the learned Tribunal. The learned Tribunal came to a fact finding as follows: “The total WDV of plant and machinery of Rs.9,40,00,858/-,therefore, much exceeded the limit of Rs.3 crore applicable to an SSIon the last day of the previous year.” Therefore, the pre-condition for taking the benefit under Section80IB of the Income Act, 1961 (for short ‘the Act’) is not satisfied. The learned Tribunal, accordingly held that the assessee cannot beconsidered as a Small Scale Industrial Undertaking within the meaning ofSection 11-B of the IDR Act, 1951 as on the last day of previous year relevant to the A.Y. 2008-09. Since the assessee did not comply withthe conditions of the proviso to Clause (iii) of sub-section 2 of Section80IB, it is not eligible for claiming deduction under Section 80IB of theAct. We cannot come to a fact finding once again in order to admit theappeal. Therefore, we do not find that any element of law is involved inthis matter. The appeal is accordingly dismissed. ___________________ K.J. SENGUPTA, CJ ____________ K.C. BHANU, J 5.9.2013 PNB