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Income-Tax Officer Versus Duty Free Distribution Services P. Ltd.

2016 (11) TMI 952 - ITAT MUMBAI

Eligibility of deduction under section 10AA - Held that:- We find the claimed deduction under section 10AA of the Act was started in 2007 for which approval was granted by CSEZ Development Commissioner, permitting the assessee to establish the unit at SEZ to undertake its trading activity. The assessee purchases item like cigarettes and foreign liquor, beside other foreign suppliers, from Flamingo DFS Pvt. Ltd. and from Flamingo Duty Free Shop Pvt. Ltd. having their registered office at Navi Mum .....

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earned Commissioner of Income-tax (Appeals) and this factual matrix is not controverted by the Revenue. Original bill of lading, bill of entry were also examined. The purchases were made on the high seas and not in India. There is not a single instance where the local purchases were made within India.The totality of facts/provisions of SEZ Act and SEZ Rules provides that the benefit of section 10AA is available on trading. The ratio laid down in Gitanjali Exports Corporation Ltd. [2013 (11) TMI .....

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Commissioner of Income-Tax For the Respondent : J. P. Bairagra ORDER Joginder Singh (Judicial Member) 1. The Revenue is aggrieved by the impugned order dated February 16, 2015 of the learned Commissioner of Income-tax, Mumbai. The first ground agitated by the Revenue, before this Tribunal, is with respect to holding that the assessee is eligible for deduction under section 10AA of the Income-tax Act, 1961 (hereinafter the Act). 2. During hearing, Shri Rajesh Ojha, learned Departmental represent .....

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ing to ₹ 48,78,973 under section 10AA of the Act. During scrutiny proceedings the learned Assessing Officer asked the assessee to furnish necessary details which were filed by the assessee. The assessee vide letter dated October 13, 2012 and March 9, 2013 made submissions claiming that the assessee is a trading concern and engaged in trading service of import and export of FMFL and cigarettes from the SEZ and therefore eligible for deduction under section 10AA. The assessee placed reliance .....

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ITDC) v. ACIT [2012] STPL (Web) 89 (SC), Gitanjali Exports Corporation Ltd. v. Addl. CIT (ITA Nos. 6947 and 6948/ Mum/2011, dated May 8, 2013), Deputy CIT v. Goenka Diamond and Jewellers Ltd. [2012] 146 TTJ (Jaipur) 68, ITO v. Midas DFS Pvt. Ltd. [2013] 37 CCH 264 (Kol-Trib), decided in favour of the assessee. The Revenue is aggrieved and is in appeal before this Tribunal. 3.2 If the observation made in the assessment order, leading to addition made to the total income, conclusion drawn in the i .....

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Flamingo Duty Free Shop Pvt. Ltd. having their registered office at Navi Mumbai. These two concerns import the item from abroad and Flamingo got the licence to operate duty free shops at various air ports/sea ports in India and also has bonded warehouses in different cities in India wherever its duty free shops. The purchases made by the assessee are by way of high seas purchases wherein the goods are sold by Flamingo to the assessee, while the cargo is on the high seas. These are done through .....

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