ROSY BLUE SECURITIES P. LTD, MUMBAI V. ASST CIT CEN CIR 46, MUMBAI

ITA 1221/MUM/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 0083 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-03-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 09-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAM TIWARI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA , A M AND SHRI RAM LAL NEGI, JM ./ I.T.A. NO S . 1221, 1222, 1223 & 1202/MUM/2016 ( / ASSESSMENT YEAR S : 200 9 - 10, 2012 - 13, 2010 - 11 & 2011 - 12 ) M/S. ROSY BLUE SECURITIES PVT. LTD. 154 - C, MITTAL COURT, NARIMAN POINT, MUMBAI - 400 021 / VS. ASST. CIT, CENTRAL CIRCLE - 46, AAYKAR BHAVAN, M. K. MARG, MUMBAI - 400 020 ./ ./ PAN/GIR NO. AAACR 4082 Q ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI NITESH JOSHI / RESPONDENT BY : SHRI RAM TIWARI / DATE OF HEARING : 04.01.2018 / DATE OF PRONOUNCEME NT : 01.03 .2018 / O R D E R PER BENCH : T HESE ARE APPEALS BY THE ASSESSEE AGAINST THE RESPECTIVE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) FOR THE ABOVE FOUR ASSESSMENT YEARS. SINCE THE ISSUES ARE COMMON AND THE APPEALS WERE HEARD TOGETHER, THESE ARE BEING DISPOSED OF BY THIS COMMON ORDER. 2. THE COMMON GROUND OF APPEAL IS THAT THE LD. COMMISSIONER OF INCOME TAX (APPEALS) E RRED IN UPHOLDING THE DISALLOWANCE OF DEPRECATION O N WRITTEN DOWN VALUE OF BOMBAY S TOCK E XCHANGE M EMBERSHIP CARD. 2 M/S. ROSY BLUE SECURITIES PVT. LTD. 3. IN THESE CASES , THE ASSESSING OFFICER MADE A DISALLOWANCE OF DEPRECATION CLAIMED ON THE MEMBERSHIP CARD OF BOMBAY S TOCK E XCHANGE AS UNDER : ASSESSMENT YEAR AMOUNT 2009 - 10 7,03,710 2010 - 11 5,27,783 2011 - 12 3,95,837 2012 - 13 2,96,878 4 . WHILE MAKING THE DISALLOWANCE , THE ASSESSING OFFICER N OTED THAT THIS ISSUE WAS DECIDED BY THE ITAT IN ASSESSEE'S OWN CASE IN ASSESSMENT YEAR 2007 - 08 AGAINST THE ASSESSEE. 5 . UP ON ASSESSEE'S APPEAL , THE LD. COMMISSIONER OF INCOME TAX (APPEALS) NOTED TH AT ITAT HAS DULY DECIDED THE ISSUE AGAINST OF THE ASSESSEE AND THE ASSESSEE HAS FILED AN APPEAL BEFORE THE HONBLE HIGH COURT AND THE HONBLE HIGH COURT HAD ADMITTED TH E ASSESSEE'S APPEAL. HOWEVER, SINCE THE HONBLE HIGH COURT H AS NOT DECIDED THE MATTER , T HE LD. COMMISSIONER OF INCOME TAX (APPEALS) FO LLOWED THE ORDER OF ITAT AND CONF I RMED THE DISALLOWANCE OF DEPRECATION. 6 . AGAINST ABOVE ORDER ASSESSEE IS IN APPEAL BEFORE US . 7 . W E HAVE HEARD BOTH THE COUNSEL AND PERUSED THE RECORDS. LEARNED COUNSEL OF TH E ASSESSEE FAIRLY AGREED THAT THE ISSUE HAS BEEN DECIDED BY THE ITAT IN ASSESSEE'S OWN CASE AGAINST THE ASSESSEE. ACCORDINGLY , IN LIGHT OF THE ABOVE ITAT DECISION AGAINST THE ASSESSEE, WE UPHOLD THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS). 3 M/S. ROSY BLUE SECURITIES PVT. LTD. 8 . IN THE RESULT , THESE APPEALS FILED BY THE ASSESSEE STAND DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 01.03.2018 SD/ - SD/ - ( RAM LAL NEGI ) (S HAMIM YAHYA ) / J UDICIAL MEMBER / A CCOUNTANT MEMBER MUMBAI ; DATED : 01.03.2018 . . ./ ROSHANI , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI