MULTIPLEX COLLAPSIBLE TUBES LTD, MUMBAI V. ASST CIT 6(3), MUMBAI

ITA 1209/MUM/2011

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2486 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 5 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-07-2016
• Appeal Filed By: Assessee
• Bench Allotted: G
• Next Hearing Date: 12-07-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 09-02-2011
• Court: TRIBUNAL
• Assessee Lawyers: VASANTI B PATEL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE S/ SHRI B.R. BASKARAN (AM) & PAWAN SINGH (JM) I.T.A. NO. 1209 /MUM/ 20 1 1 (ASSESSMENT YEAR 200 7 - 0 8 ) MULTIPLEX COLLAPSIBLE TUBES LTD. 10/76, OFF. HAINES ROAD WORLI, MUMBAI - 400 018. VS. ACIT 6(3 ) AAYAKAR BHAVAN M.K. ROAD MUMBAI - 400 020. ( APPELLANT ) ( RESPONDENT ) PAN NO . AAACM2918C ASSESSEE BY MISS VASANTI B. PATEL DEPARTMENT BY SHRI MAURYA PRATAP DATE OF HEARING 12 . 7 . 201 6 DATE OF PRONOUNCEMENT 2 0. 7 . 201 6 O R D E R PER B.R. B ASKARAN (AM) : - THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 25.10.2010 PASSED BY LEARNED CIT(A) - 12, MUMBAI AND IT RELATES TO A.Y. 2007 - 08. 2. THE ONLY ISSUE URGED IN THIS APPEAL RELATES TO DETERMINATION OF ANNUAL LETTING VALUE OF THE PROPERTY LET OUT BY THE ASSESSEE. 3. AT THE TIME OF HEARING , BOTH THE PARTIES HAVE AGREED THAT THE MATTER MAY BE RESTORED TO THE FILE O F THE ASSESSING OFFICER WITH THE DIRECTION TO DETERMINE THE ANNUAL LETTING VALUE IN ACCORDANCE WITH THE DECISION OF HON'BLE JURISDICTIONAL HIGH COURT RENDERED IN THE CASE OF TIP TOP TYPOGRPHY (2014) 368 ITR 330 (BOM). ACCORDINGLY, WE SET ASIDE THE ORDER OF LEARNED CIT(A) AND RESTORE THE ISSUE TO THE FILE OF THE ASSESSING OFFICER WITH THE DIRECTION TO DETERMINE TH E ANNUAL LETTING VALUE IN ACCORDANCE WITH THE DECISION OF HON'BLE BOMBAY HIGH COURT REFERRED ABOVE. MULTIPLEX COLLAPSIBLE TUBES LTD. 2 4 . IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS TREATED AS ALLOWED FOR STATISTICAL PURPO S ES. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 20 . 7.2016 SD/ - SD/ - (PAWAN SINGH) (B.R.BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 20 / 7 / 20 1 6 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. BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRAR) ITAT, MUMBAI PS