M/S.INFINITY CONSTRUCTION PRIVATE LIMITED, MUMBAI V. INCOME TAX OFFICER 10(1)(2), MUMBAI

CO 117/MUM/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 0318 (ITAT-MUMBAI)
• Duration Of Justice: 9 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 10-04-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 01-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: ABI RAMA KARTIKIYEN
• Keywords: Earning of tax free income; Tax effect

Judgement Text

P A G E | 1 ITA NO.7035/MUM/2018 AND C.O NO. 117/MUM/2019 A.Y. 2014 - 15 INCOME TAX OFFICER - 10(1)(2) VS. M/S INFINITY CONSTRUCTION PVT. LTD. IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER ITA NO. 7035/MUM/2018 C.O. NO. 117/MUM/2019 ARISING OUT OF ITA NO.7035/MUM/2018) (ASSESSMENT YEAR: 2014 - 15 ) INCOME TAX OFFICER - 10(1)(2) R. NO. 25, GROUND FLOOR, AAYAKAR BHAVAN, MUMBAI - 400 020 VS. M/S INFINITY CONSTRUCTION PVT. LTD. 269/5B AKSHAY MITTAL INDUSTRIAL ESTATE, A.K. ROAD, ANDHERY (EAST), MUMBAI 400 059 PAN AADCI1189A APPELLANT RESPONDENT APPELLANT BY: SHRI ABI RAMA KARTIKIYEN , D.R RESPONDENT BY: NONE DATE OF HEARING: 04.04 .2019 DATE OF PRONOUNCEMENT: 1 0 .04 .2019 O R D E R PER RAVISH SOOD, JM T HE CAPTIONED APPEAL FILED BY THE R EVENUE IS DIRECTED AGAI NST THE ORDER PASSED BY CIT(A) - 17, MUMBAI, DATED 10.09.2018 , WHICH IN TURN ARISES FROM THE ORDER PASSED BY THE A.O UNDER SEC.143(3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT), DATED 30.09.2016 . APART THERE FROM, THE ASSESSEE IS ALSO BEFORE US AS A CROSS OBJECTOR. 2. THE ITO - 10(1)(3), MUMBAI HAS FILED A LETTER DATED 14.02.2018 REQUESTING FOR WITHDRAWAL OF THE CAPTIONED APPEAL. IT IS STATED BY HIM THAT THE APPEAL IS SOUGHT TO BE WITHDRAWN FOR TWO REASONS VIZ. (I) THAT THE TAX EFFECT INVOLVED IN THE APPEAL OF THE RE VENUE IS BELOW THE PRESCRIBED MONETARY LIMIT SPECIFIED IN THE CBDT CIRCULAR NO. 03/2018, DATED 11.07.2018; AND (II) P A G E | 2 ITA NO.7035/MUM/2018 AND C.O NO. 117/MUM/2019 A.Y. 2014 - 15 INCOME TAX OFFICER - 10(1)(2) VS. M/S INFINITY CONSTRUCTION PVT. LTD. THAT PURSUANT TO THE JUDGMENT OF THE HONBLE SUPREME COURT IN THE CASE OF CIT VS. M/S CHETTINAD LOGISTICS PVT. LTD. (2018) 102 CCH 180 (SC) NO DISALLOWANCE UNDER SEC.14A CAN BE MADE IF THERE IS NO EXEMPT INCOME DURING THE YEAR. IN THE BACKDROP OF THE SAID FACTS THE A.O HAS SOUGHT TO WI THDRAW THE APPEAL IN THE CAPTIONED CASE. 3. ON THE BASIS OF THE AFORESAID REQUEST THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4 . AS WE HAVE DISMISSED THE APPEAL OF THE REVENUE, THEREFORE, THE CROSS OBJECTION FILED BY THE ASSESSEE HAVING BE EN RENDERED AS INFRUCTUOUS IS ALSO DISMISSED. RESULTANTLY, THE APPEAL OF THE REVENUE I.E ITA NO. 7035/MUM/2018 AND C ROSS O BJECTION OF THE ASSESSEE I.E C.O. NO. 117/MUM/2019 ARE DISMISSED. ORDER PRO NOUNCED IN THE OPEN COURT ON 1 0 . 04.2019 S D / - S D / - ( N.K. PRADHAN ) (RAVISH SOOD) ACC OUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; 10 .04.2019 PS. ROHIT / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI