AVACADO PROPERTIES & TRADING (INDIA) P. LTD.,MUMBAI V. DY CIT -CC-4(2), MUMBAI

ITA 464/MUM/2021

AI Insights

The case involved Avacado Properties and Trading (India) Pvt. Ltd., the appellant, contesting an order from the Commissioner of Income-tax (Appeals)-52, Mumbai, for the assessment year 2013-14. The primary contention was regarding the disallowance of Rs 8,62,96,444 under Section 14A of the Income Tax Act, 1961, which was upheld by the CIT(A). The disallowance pertained to the mechanical adoption of total income and book profits under the normal provisions and Section 115JB of the Act, respectively. The assessee's appeal was based on these disallowances, which were initially determined in an order under section 143(3) of the Act. However, before the tribunal could deliberate on the merits of the case, the assessee withdrew the appeal.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 23979 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 23-10-2024
• Assessment Year: 2013-2014
• Appeal Filed On: 30-03-2021
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K.R. SUBHASH
• Assessee Lawyers: DISHA J AIN
• Section: 143(3); 153A; 14A; 115JB

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL CHAUDHARY (JUDICIAL MEMBER) ITA No. 464/MUM/2021 Assessment Year: 2013-14 Avacado Properties and Trading (India) Pvt. Ltd., Sr No. 1406, A/18, Paradigm Building, Link Road, Malad West, Mumbai-400604. Vs. Dy. CIT Central Circle-4(2), Room No. 1918, Air India Building, Nariman Point, Mumbai-400021. PAN NO. AADCA 9413 F Appellant Respondent Assessee by : Ms. Disha Jain Revenue by : Dr. K.R. Subhash, CIT-DR Date of Hearing : 23/10/2024 Date of pronouncement : 28/10/2024 ORDER PER OM PRAKASH KANT, AM This appeal has been filed by the assessee against order dated 29.01.2021 passed by the Ld. Commissioner of Income-tax (Appeals)-52, Mumbai [in short ‘the Ld. CIT(A)’] for assessment year 2013-14, raising following grounds: Ground No.1: On the facts and circumstances of the case and in law, the Ld . CIT(A) erred in , by upholding the action of had mechanically adopted the total income under the normal provisions of the Income under Section 153A of the Act as was determined in the order under section 143(3) of the Act dated 30.03. disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the said disallowance may please be deleted. Ground No. 2: On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in by upholding the action of the AO, wherein the AO had mechanically adopted the book profits under section 115JB of the Act while passing the order under Section 153A of the Act as was determined in the order under section 143(3) of the Act dated 30.03.2016, thereby disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the said disallowance may please be deleted. 2. At the outset, the Ld. counsel on behalf of the assessee submitted that the assessee wis regard filed a written request form the assessee not object for the same. dismissed as withdrawn. 3. In the result, the appeal of the assessee is dismissed. Order pronounced in the open Court on Sd/ (RAHUL CHAUDHARY JUDICIAL MEMBER Mumbai; Dated: 28/10/2024 Rahul Sharma, Sr. P.S. Avacado Properties and Trading (India) Pvt. On the facts and circumstances of the case and in law, the Ld . CIT(A) erred in , by upholding the action of the AO, wherein the AO had mechanically adopted the total income under the normal provisions of the Income-tax Act, 1961 (Act) while passing the order under Section 153A of the Act as was determined in the order under section 143(3) of the Act dated 30.03.2016, thereby disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the said disallowance may please be deleted. On the facts and circumstances of the case and in law, the Ld. in by upholding the action of the AO, wherein the AO had mechanically adopted the book profits under section 115JB of the Act while passing the order under Section 153A of the Act as was determined in the order under section 143(3) of the Act dated 016, thereby disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the said disallowance may please be deleted. At the outset, the Ld. counsel on behalf of the assessee submitted that the assessee wishes to withdraw the appeal regard filed a written request form the assessee. The Revenue did not object for the same. Accordingly, the appeal of the assessee is dismissed as withdrawn. In the result, the appeal of the assessee is dismissed. nounced in the open Court on 28/10/2024. Sd/- (RAHUL CHAUDHARY) (OM PRAKASH KANT JUDICIAL MEMBER ACCOUNTANT MEMBER Avacado Properties and Trading (India) Pvt. Ltd. 2 ITA No. 464/MUM/2021 On the facts and circumstances of the case and in law, the Ld . the AO, wherein the AO had mechanically adopted the total income under the normal tax Act, 1961 (Act) while passing the order under Section 153A of the Act as was determined in the order 2016, thereby disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the said On the facts and circumstances of the case and in law, the Ld. in by upholding the action of the AO, wherein the AO had mechanically adopted the book profits under section 115JB of the Act while passing the order under Section 153A of the Act as was determined in the order under section 143(3) of the Act dated 016, thereby disallowing Rs 8,62,96,444 under section 14A of the Act. The appellant humbly prays before your Honor that the At the outset, the Ld. counsel on behalf of the assessee to withdraw the appeal and in The Revenue did he appeal of the assessee is In the result, the appeal of the assessee is dismissed. /10/2024. Sd/- OM PRAKASH KANT) ACCOUNTANT MEMBER Copy of the Order forwarded to 1. The Appellant 2. The Respondent. 3. CIT 4. DR, ITAT, Mumbai 5. Guard file. //True Copy// Avacado Properties and Trading (India) Pvt. Copy of the Order forwarded to : BY ORDER, (Assistant Registrar) ITAT, Mumbai Avacado Properties and Trading (India) Pvt. Ltd. 3 ITA No. 464/MUM/2021 BY ORDER, (Assistant Registrar) ITAT, Mumbai "