TMI Blog2015 (12) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... - Delhi High Court), were also taken into consideration and thereafter it was concluded that in view of the Instruction No.1 of 2006, dated 24-3-2006 as modified by Instruction No.4 of 2006, dated 24- 5-2006 issued by the Ministry of Commerce & Industry, Government of India and the definition of service given in the SEZ Act, 2005, which overrides the word 'service' accruing in Section 10AA by virtue of Section 51 of the SEZ Act. The assessee engaged in trading in nature of re-export of imported goods and for the same the assessee was entitled deduction under Section 10AA of the Act. - Decided in favour of assessee. - ITA No. 2793/Mum/2012, CO No. 276/Mum/2014 - - - Dated:- 30-10-2015 - Shailendra Kumar Yadav, JM And Rajesh Kumar, AM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer to examine in detail and make necessary enquiries as to whether the appellant is carrying out any manufacturing activity at its SEZ Unit in Sachin Surat and to examine as to whether appellant is rendering any other services at its SEZ Unit which may qualify for deduction under section 10AA. 5. The learned CIT ought to have appreciated that the decision arrived at by the Assessing Officer cannot be made subjectmatter of revision unless the Assessing Officer has adopted a view which is impossible or unsustainable in law. 3. In the set aside proceedings the AO has passed order under section 143(3) r.w.s. 263 of the Act on 17.01.2013. Against the order of the AO appeal was filed before the concerned CIT(A) who has allowed the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n not to specifically say so. Therefore the decision of the CIT(A), in borrowing the meaning of the word trading or service from the SEZ Act is not in accordance with the intention of the Legislature and the spirit of the Act and hence not acceptable. 3. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was justified, in allowing the appeal of the assessee, as the Ld CIT(A) has failed to appreciate the intention of the Legislature, not to accord the benefit of deduction u/s 10AA to the trading activity of the type, practiced by the assessee by specifically choosing, not to include a clause, facilitating the borrowing of the meaning of the words trading or service from the SEZ Act. 4 Wheth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd cannot be extended beyond the clear language used in the section. 5. We find that similar issue came up in A.Y. 2006-07 in assessee's own case wherein following the decision of the ITAT in ITA No. 509/JP/2011 in the case of Goenka Diamond Jewellers Ltd. the issue has been decided in favour of the assessee by observing as under: - We noted that learned CIT(A) has taken into considering the aspect and observation of the AO that deduction under Section 10AA is not allowable for the reason that the assessee has not carried out any manufacturing activity but has done trading of goods only. For this purpose, learned AO has placed reliance on the order of Hon'ble Delhi High Court. Learned CIT(A) has taken into consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 211 CTR 369 (SC) and the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Vasisth Chay Vyapar Ltd., reported in 238 CTR 142 (Delhi), were also taken into consideration and thereafter it was concluded that in view of the Instruction No.1 of 2006, dated 24-3-2006 as modified by Instruction No.4 of 2006, dated 24- 5-2006 issued by the Ministry of Commerce Industry, Government of India and the definition of service given in the SEZ Act, 2005, which overrides the word 'service' accruing in Section 10AA by virtue of Section 51 of the SEZ Act. The assessee engaged in trading in nature of re-export of imported goods and for the same the assessee was entitled deduction under Section 10AA of the Act. Facts are similar be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
