INDIAINFOLINE IVESTMENT SERVICES LTD, MUMBAI V. ADDL CIT 9(2), MUMBAI

ITA 115/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2479 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2011-2012
• Appeal Filed On: 07-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P R GOSHDR
• Keywords: Opportunity of being heard
• Section: 143(3); 14A

Judgement Text

I IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO.115 /MUM/2015 ( / ASSESSMENT YEAR : 2011-12) INDIA INFOLINE INVESTMENT SERVICES LIMITED IIFL CENTER, KAMALA CITY, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI-400 013 / V. ADDL. CIT 9(2) AAYAKAR BHAWAN CHURCHGATE MUMBAI ./ PAN : AABCI2915C ( / APPELLANT ) .. ( / RESPONDENT ) ASSESSEE BY MR. PRITESH MEHTA REVENUE BY : SHRI P R GOSH,DR / DATE OF HEARING : 16-08-2016 / DATE OF PRONOUNCEMENT : 25-10-2016 / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER THIS APPEAL, FILED BY THE ASSESSEE, BEING ITA NO. 115/MUM/2015, IS DIRECTED AGAINST THE APPELLATE ORDER DATED 07 TH NOVEMBER, 2014 PASSED BY LEARNED COMMISSIONER OF INCOME TAX (APPEALS)- 20, M UMBAI (HEREINAFTER CALLED THE CIT(A)), FOR THE ASSESSMENT YEAR 2011- 12, THE APPELLATE PROCEEDINGS BEFORE THE LEARNED CIT(A) ARISING FROM THE ASSESSMENT ORDER DATED 03-02-2014 PASSED BY THE LEARNED ASSESSING OF FICER (HEREINAFTER CALLED THE AO) U/S 143(3) OF THE INCOME-TAX ACT,1961 (HE REINAFTER CALLED THE ACT). 2. IN THIS APPEAL, ALTHOUGH THE ASSESSEE HAS RAISED MULTIPLE GROUNDS OF APPEAL IN MEMO OF APPEAL FILED WITH THE TRIBUNAL BU T THE SOLITARY DISPUTE ITA 115/MUM/2015 2 RELATE TO DISALLOWANCE OF RS.22,57,10,2016/- MADE BY THE AO U/S 14A OF THE ACT READ WITH RULE 8D OF INCOME-TAX RULES, 1962. 3. BEFORE US , THE LD. COUNSEL FOR THE ASSESSEE SUB MITTED THAT AN IDENTICAL SITUATION IN THE CASE OF THE ASSESSEE FOR ASSESSMEN T YEAR 2009-10 AND 2010- 11 CAME UP BEFORE THE TRIBUNAL AND VIDE ORDERS DATE D 25/07/2014 , IN ITA NO. 6937/MUM/2012 FOR ASSESSMENT YEAR 2009-10 , THE TRIBUNAL HAS REMANDED THE MATTER BACK TO THE FILE OF THE AO FOR RECONSIDERATION IN ACCORDANCE WITH THE DIRECTIONS CONTAINED THEREIN. C OPY OF THE ORDER OF THE TRIBUNAL DATED 25/07/2014(SUPRA) HAS BEEN PLACED ON RECORD. FURTHER, THE TRIBUNAL IN ITA NO.5110/MUM/2014 VIDE ORDERS DATED 23/02/2016 FOR THE ASSESSMENT YEAR 2010-11 FOLLOWED THE DECISION OF TH E TRIBUNAL IN ITA NO 6937/MUM/2012 FOR THE ASSESSMENT YEAR 2009-10 IN AS SESSEES OWN CASE AND REMANDED THE MATTER BACK TO THE FILE OF THE AO WITH A DIRECTION TO RECONSIDER THE APPLICATION OF SECTION 14A OF THE AC T IN THE SAID ASSESSMENT YEAR 2010-11, IN THE LIGHT OF THE DECISION OF THE T RIBUNAL DATED 25/07/2014 (SUPRA) IN ASSESSEES OWN CASE FOR THE ASSESSMENT Y EAR 2009-10. IT WAS A COMMON POINT BETWEEN BOTH THE PARTIES THAT THE PRESENT APPEAL OF THE ASSESSEE BE DECIDED IN THE LIGHT OF THE ORDERS OF THE TRIBUNAL DATED 25/07/2014(SUPRA) AND 23/02/2016(SUPRA) IN ASSESSEE S OWN CASE FOR ASSESSMENT YEAR 2009-10 AND 2010-11 RESPECTIVELY AN D THE MATTER BE RESTORED TO THE FILE OF THE AO FOR CONSIDERATION AF RESH IN ACCORDANCE WITH LAW , KEEPING IN VIEW AFORE-STATED ORDERS OF THE TRIBUNAL FOR THE ASSESSMENT YEAR 2009-10 AND 2010-11. 4. ACCORDINGLY, THE IMPUGNED ORDER OF THE LEARNED C IT(A) IS SET ASIDE AND THE MATTER IS REMANDED BACK TO THE FILE OF THE AO WITH A DIRECTION TO RECONSIDER THE APPLICATION OF SECTION 14A OF THE ACT IN THIS Y EAR IN ACCORDANCE WITH LAW, ALSO IN THE LIGHT OF THE DECISION OF THE TRIBUNAL D ATED 25/07/2014(SUPRA) AND ITA 115/MUM/2015 3 23/02/2016(SUPRA) IN ASSESSEES OWN CASE FOR THE AS SESSMENT YEAR 2009-10 AND 2010-11. NEEDLESS TO SAY THAT THE AO SHALL ALLO W THE ASSESSEE A REASONABLE OPPORTUNITY OF BEING HEARD BEFORE PASSIN G AN ORDER AFRESH IN ACCORDANCE WITH LAW. WE ORDER ACCORDINGLY. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES AS INDICATED ABOVE; ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH OCTOBER, 2016. # $% &' 25-10-2016 ( ) SD/- SD/- (AMIT SHUKLA) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 25-10-2016 [ .9../ R.K. R.K. R.K. R.K. , EX. SR. PS !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. : ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. : / CIT- CONCERNED, MUMBAI 5. =>( 99?@ , ?@ , $ / DR, ITAT, MUMBAI I BENCH 6. (BC D / GUARD FILE. / BY ORDER, = 9 //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI