KANGA & COMPANY, MUMBAI V. DY.CIT.,-11(2), MUMBAI

CO 47/MUM/2011

• Counselvise Citation: [2013] 122 COUNSELVISE.COM (IT) 8549 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 8 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 03-04-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Next Hearing Date: 30-10-2012
• Assessment Year: 2003-2004
• Appeal Filed On: 25-04-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Reassessment proceedings
• Section: 143(3)

Judgement Text

ITA NO.4009/MUM/2010. CO NO.47/MUM/2011 M/S.KANGA & CO. 9 THE YEAR UNDER CONSIDERATION THE ASSESSMENT WAS OR IGINALLY MADE U/S 143(3) AND THE REASSESSMENT PROCEEDINGS HAVE BEEN L AUNCHED AFTER A PERIOD OF FOUR YEARS FROM THE END OF THE RELEVANT A SSESSMENT YEAR, NO ASSISTANCE CAN BE TAKEN FROM THE ORDER PASSED FOR T HE EARLIER YEAR, WHICH IS BASED ON DIFFERENT FACT SITUATION. 7. IN VIEW OF THE FOREGOING DISCUSSION, WE ARE OF T HE CONSIDERED OPINION THAT THE LEARNED CIT(A) WAS JUSTIFIED IN CO MING TO THE CONCLUSION THAT THE A.O. ERRED IN INITIATING THE RE ASSESSMENT PROCEEDINGS. WE, THEREFORE, APPROVE THE VIEW TAKEN BY THE LEARNED CIT(A). IN VIEW OF OUR DECISION APPROVING THE SETTI NG ASIDE OF INITIATION OF REASSESSMENT PROCEEDINGS, THERE IS NO NEED TO DISPOSE OFF THE ISSUES ON MERITS. 8. THE LEARNED AR DID NOT PRESS THE CROSS OBJECTION FILED BY THE ASSESSEE. 9. IN THE RESULT, THE REVENUES APPEAL AS WELL AS T HE ASSESSEES CROSS OBJECTION STAND DISMISSED. ORDER PRONOUNCED ON THIS 3 RD DAY OF APRIL, 2013. SD/- SD/- (D.MANMOHAN) (R.S.SYAL) VICE-PRESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED : 3 RD APRIL, 2013. DEVDAS*