JAYESH K MARU ALIAS SHAH, MUMBAI V. ACIT 25(2), MUMBAI

ITA 1218/MUM/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7802 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: J
• Next Hearing Date: 02-02-2010
• Assessment Year: 2005-2006
• Appeal Filed On: 23-02-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: L K AGRAWAL
• Assessee Lawyers: TARUN JAMNADAS GHIA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES J, MUMBAI BEFORE SHRI R.S.SYAL, AM AND SHRI N.V.VASUDEVAN, JM ITA NO.1218/MUM/2009 : ASST.YEAR 2005-2006 SHRI JAYESH K.MARU ALIAS SHAH 1101, RAJ SUN FLOWER BUILDING ROYAL COMPLEX, EKSAR ROAD BORIVALI (WEST), MUMBAI 400 092. PA NO.AABPM3478R. VS. THE ASSTT.COMMISSIONER OF INCOME-TAX CIRCLE 25(2) MUMBAI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI TARUN JAMNADAS GHIA RESPONDENT BY : SHRI L.K.AGRAWAL O R D E R PER R.S.SYAL, AM : THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER PASSED BY THE CIT(A) ON 16.1.2009 IN RELATION TO THE ASSESSMENT YEAR 2005-2 006. 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST THE CONFIRMATION OF DISALLOWANCE OF RS.9,05,118 U/S.80-IB(10) OF THE AC T. BRIEFLY STATED THE FACTS OF THE CASE ARE THAT THE ASSESSEE WAS ENGAGED IN THE BUSIN ESS OF CONSTRUCTION AND DEALING IN PLOTS OF LAND. IT CLAIMED DEDUCTION U/S.80-IB(10 ) FOR THE ABOVE REFERRED AMOUNT. THE ASSESSING OFFICER DID NOT ACCEPT THE CLAIM OF T HE ASSESSEE FOR THE REASONS SET OUT IN THE ASSESSMENT ORDER. THE LEARNED CIT(A) APP ROVED THE ACTION OF THE A.O. 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERU SING THE RELEVANT MATERIAL ON RECORD IT IS OBSERVED THAT THE ASSESSEE CLAIMED SIM ILAR DEDUCTION IN RESPECT OF ASSESSMENT YEARS 2003-2004 AND 2004-2005 WITH REFER ENCE TO THE SAME PROPERTIES. FINALLY WHEN THE MATTER CAME UP BEFORE THE TRIBUNAL , THE ASSESSEE WAS HELD TO BE ENTITLED TO DEDUCTION UNDER THIS SECTION VIDE ITS O RDER IN ITA NO.4350/MUM/2007 AND 4464/MUM/2007 DATED 4 TH AUGUST, 2009. BOTH THE SIDES ARE IN AGREEMENT THAT THE FACTS AND CIRCUMSTANCES OF THE INSTANT YEAR ARE MUTATIS MUTANDIS SIMILAR TO THOSE ITA NO.1218/MUM/2009 SHRI JAYESH K.MARU ALIAS SHAH. 2 OF THE EARLIER YEARS DECIDED BY THE TRIBUNAL. RESPE CTFULLY FOLLOWING THE PRECEDENT WE OVERTURN THE IMPUGNED ORDER AND DIRECT THE GRANT ING OF DEDUCTION U/S.80-IB(10). 4. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED ON THIS 3 RD DAY OF FEBRUARY, 2010. SD/- SD/- (N.V.VASUDEVAN) ( R.S.SYAL ) JUDICIAL MEMBER ACCOUNTANT ME MBER MUMBAI : 3 RD FEBRUARY, 2010. DEVDAS* COPY TO : 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT CONCERNED 4. THE CIT(A)-XXV, MUMBAI. 5. THE DR/ITAT, MUMBAI. 6. GUARD FILE. TRUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, MUMBAI. ITA NO.1218/MUM/2009 SHRI JAYESH K.MARU ALIAS SHAH. 3 DATE INITIAL 1. DRAFT DICTATED ON 02.02.2010 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 02.02.2010 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. FILE SENT TO THE BENCH CLERK SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 9. DATE OF DISPATCH OF ORDER. *