ASIAN EXPORTS Vs. ASSISTANT COMMISSIONER OF INCOME TAX
LAWS(IT)-2007-3-7
INCOME TAX APPELLATE TRIBUNAL
Decided on
March 09,2007
Appellant
VERSUS
Respondents
JUDGEMENT
D.K. Tyagi, J.M. -
(1.)THE above appeal filed by the appellant is directed against the order of the CIT(A)-XVI, Kolkata, dt. 25th Sept., 2006 relating to -asst. yr. 2004-05 on the following grounds of appeal:
1. That on the facts and in the circumstances of the case and evidences on records the CIT(A) erred in upholding the action of the AO in coming to the conclusion that the appellant was not engaged in the manufacture or produce of an article or thing and/or no new article or thing emerged which are distinctive in character or identity and thereby disallowing the claim of the appellant under Section 10B of the IT Act though it was demonstrated with evidence that the appellant was engaged in the business of ornamental fishes which was produced by them and new ornamental fishes with distinctive character and identity was produced.
(2.)That on the facts and in the circumstances of the case the CIT(A) erred in holding that the various process adopted by the appellant for the produce of the ornamental fishes amounted to rearing of the fishes and did not involve the process of production of the ornamental fishes, thereby denying the claim of the appellant under Section 10B of the IT Act.
That on the facts and in the circumstances of the case the CIT(A) further erred in coming to the conclusion and holding that the submissions made by the appellant were based on assertions and were not supported by evidences or accounts in spite of the fact of physical verification of the various process adopted by the appellant for the process of the ornamental fishes by the Department during the course of appeal proceedings.
(3.)THAT on the facts and in the circumstances of the case the CIT(A) erred in upholding the action of the AO in coming to the conclusion that there was no difference in the identity between the original fish and the produced ornamental fishes thereby further holding that there was no manufacture or produce by the appellant of an article or thing, which findings are erroneous and on non-appreciation of the facts of the case.
1. That on the facts and in the circumstances of the case and evidences on records the CIT(A) erred in upholding the action of the AO in coming to the conclusion that the appellant was not engaged in the manufacture or produce of an article or thing and/or no new article or thing emerged which are distinctive in character or identity and thereby disallowing the claim of the appellant under Section 10B of the IT Act though it was demonstrated with evidence that the appellant was engaged in the business of ornamental fishes which was produced by them and new ornamental fishes with distinctive character and identity was produced.
(2.)That on the facts and in the circumstances of the case the CIT(A) erred in holding that the various process adopted by the appellant for the produce of the ornamental fishes amounted to rearing of the fishes and did not involve the process of production of the ornamental fishes, thereby denying the claim of the appellant under Section 10B of the IT Act.
That on the facts and in the circumstances of the case the CIT(A) further erred in coming to the conclusion and holding that the submissions made by the appellant were based on assertions and were not supported by evidences or accounts in spite of the fact of physical verification of the various process adopted by the appellant for the process of the ornamental fishes by the Department during the course of appeal proceedings.
(3.)THAT on the facts and in the circumstances of the case the CIT(A) erred in upholding the action of the AO in coming to the conclusion that there was no difference in the identity between the original fish and the produced ornamental fishes thereby further holding that there was no manufacture or produce by the appellant of an article or thing, which findings are erroneous and on non-appreciation of the facts of the case.
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