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Issues involved: Appeal against the order of the ld. CIT(A), Jaipur regarding reopening of completed assessment u/s 147 and denial of deduction u/s 10BA on duty draw back.
Reopening of assessment u/s 147: The appellant challenged the reopening of the completed assessment u/s 147, arguing that the original assessment was framed u/s 143(3) and deduction u/s 10BA on duty draw back was allowed by the Assessing Officer. The Tribunal noted that the issue of reopening was not pressed during the hearing, and hence, did not require further comments. Denial of deduction u/s 10BA: The main grievance of the assessee was the denial of deduction u/s 10BA on duty draw back by the Assessing Officer, which was upheld by the ld. CIT(A). However, the appellant's counsel contended that a similar issue was decided in favor of the assessee in a previous order dated 31-01-2013. The Tribunal observed that the issue had already been adjudicated in the assessee's favor in a previous case, where it was clarified that profits derived from export of articles should be considered only from the business of the undertaking and not from any other business carried on by the assessee. The Tribunal, therefore, allowed the ground of appeal related to deduction u/s 10BA in favor of the assessee. Additional Grounds: The appellant sought permission to raise additional or alternative grounds during the appeal hearing, but as these grounds were general in nature, they did not require any specific comments from the Tribunal. Conclusion: Based on the findings and precedents cited, the Tribunal partly allowed the appeal filed by the assessee, specifically on the issue of deduction u/s 10BA. The decision was pronounced in the open court on 20-06-2013.
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