VENKATESH PREMISES CO OP SOCIETY LTD, MUMBAI V. ITO WD 12(3)(2), MUMBAI

CO 130/MUM/2012

• Counselvise Citation: [2012] 122 COUNSELVISE.COM (IT) 7718 (ITAT-MUMBAI)
• Duration Of Justice: 1 month(s) 13 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 08-08-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 25-06-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Question of law

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL F' BENCH, M UMBAI . , #$% &'( , ') *+ ' % BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI RAJENDRA, ACCOUNTANT MEMBER ./ ITA NO. 6284/MUM/2011 ( , , , , - - - - / ASSESSMENT YEAR : 2008-09 INCOME TAX OFFICER - 12(3)(2) M/S. VENKATESH PREMIS ES CO-OP ROOM NO. 114, 1ST FLOOR SOCIETY LIMITED AAYAKAR BHAVAN, M.K. ROAD / VS. HOECHST HOUSE, NARIMAN POINT MUMBAI 400020 MUMBAI 400021 +. ') ./ PAN - AADFV 1309 E ./ / APPELLANT 01./ / RESPONDENT 01%' ./ CO NO. 130/MUM/2012 ( , , , , - - - - / ASSESSMENT YEAR : 2008-09 M/S. VENKATESH PREMISES CO-OP INCOME TAX OFFICER - 12(3)(2) SOCIETY LIMITED ROOM NO. 114, 1ST FLOOR HOECHST HOUSE, NARIMAN POINT / VS. AAYAKAR BHAVAN, M.K. ROAD MUMBAI 400021 MUMBAI 400020 +. ') ./ PAN - AADFV 1309 E ./ / APPELLANT 01./ / RESPONDENT REVENUE BY : RAJARSHI DWIVEDY ASSESSEE BY : NONE 2 3) / DATE OF HEARING : 08.08.2012 4- 2 3) / DATE OF PRONOUNCEMENT : 08.08.2012 *'5 / O R D E R PER D. MANMOHAN, V.P. THESE CROSS APPEALS ARE DIRECTED AGAINST THE ORDER DATED. 15.07.2001 PASSED BY THE CIT(A)-23 MUMBAI AND THEY PERTAIN TO A.Y. 2008-09. 2. REVENUE HAS RAISED THE FOLLOWING GROUNDS: - 1. WHETHER ON FACTS AND IN THE CIRCUMSTANCES OF T HE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN DIRECTING THE ASSESSING OFFICER TO DELETE ITA NO. 6284 & CO 130/MUM/2011 M/S. VENKATESH PREMISES CO-OP SOCIETY LTD. 2 ADDITION OF RS.34,61,200/- ON ACCOUNT OF TRANSFER F EES BY HOLDING THAT THE RECEIPT IS COVERED BY CONCEPT OF MUTUALITY & HENCE NOT TAXABLE. 2. WHETHER ON FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN DIRECTING THE ASSESSING OFFICER TO DELETE ADDITION OF RS.37,86,213/- ON ACCOUNT OF NON-OCCUPA NCY CHARGES BY HOLDING THAT THE RECEIPT IS COVERED BY CONCEPT O F MUTUALITY AND HENCE NOT TAXABLE. THE ASSESSEE FILED THE CROSS OBJECTION IN SUPPORT O F THE ORDER PASSED BY THE LEARNED CIT(A). 3. ON THE DATE OF HEARING NONE APPEARED ON BEHALF OF T HE ASSESSEE IN SPITE OF VALID SERVICE OF NOTICE OF HEARING. WE, TH EREFORE, PROCEED TO DISPOSE OF THE APPEALS EXPARTE, QUA THE ASSESSEE. 4. SIMILAR ISSUES WERE CONSIDERED BY THE HON'BLE BOMBA Y HIGH COURT IN ASSESSEES OWN CASE IN I.T. APPEALS NO. 679, 680 & 684 OF 2009) WHEREIN THE HON'BLE HIGH COURT HAS STATED THAT LEARNED COUNSEL APPEARING ON BEHALF OF THE REVENUE HAS STATED THAT THE QUESTION IN RESPECT OF THE EXPENDITURE ON ACCOUNT OF NON-OCCUPANCY CHARGES/TRANSFER FEES IS C OVERED AGAINST THE REVENUE BY THE JUDGEMENT OF THIS COURT IN M/S. MITT AL COURT PREMISES CO.OP. HSG. SOCIETY VS. ITO [184 (2009) TAXMAN 292 (BOM)] AND IN SIND CO- OP. HSG. SOCIETY VS. ITO [317 ITR 47 (BOM)]. IN VIE W OF THIS STATEMENT MADE BEFORE THE COURT, THE ABOVE APPEALS DO NOT RAISE AN Y SUBSTANTIAL QUESTION OF LAW. ALL THE APPEALS SHALL STAND DISPOSED OF ACCORD INGLY. 5. RESPECTFULLY FOLLOWING THE ABOVE DECISION OF THE HO N'BLE BOMBAY HIGH COURT IN ASSESSEES OWN CASE, THE APPEAL FILED BY T HE REVENUE IS DISMISSED AND THE CROSS OBJECTION FILED BY THE ASSESSEE IS TR EATED AS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH AUGUST 2012. *'5 2 - )' 6 7* 8 08.08.2012 2 9 SD/- SD/- (RAJENDRA) (D. MANMOHAN) ') *+ / ACCOUNTANT MEMBER #$%/ VICE PRESIDENT MUMBAI ; 7* DATED : 8 TH AUGUST 2012 ITA NO. 6284 & CO 130/MUM/2011 M/S. VENKATESH PREMISES CO-OP SOCIETY LTD. 3 *'5 *'5 *'5 *'5 2 22 2 0,3;< 0,3;< 0,3;< 0,3;< ='<-3 ='<-3 ='<-3 ='<-3 / COPY OF THE ORDER FORWARDED TO : 1. ./ / THE APPELLANT 2. 01./ / THE RESPONDENT. 3. > ( ) / THE CIT(A)- 23, 4. > / CIT - 12, 5.