VAISHNAV S.PURI (HUF), MUMBAI V. ASST CIT 19(3), MUMBAI

ITA 1225/MUM/2013

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2509 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-12-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2008-2009
• Appeal Filed On: 12-02-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PAWAN KU MAR BEERLA
• Assessee Lawyers: ASHOK J PATIL
• Keywords: Business income; Question of law

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI BEFORE SHRI N.K . BILLAIYA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER / I .T.A. NO . 1225/MUM/2013 ( / ASSESSMENT YEAR : 2008 - 09 SHRI VAISHNAV S. PURI (HUF), PROP. OF M/S. KAKS INTERNATIONAL, NCL BLDG., 8 TH FLOOR, BANDRA KURLA COMPLEX, BANDRA(E), MUMBAI - 400 051 / VS. THE ACIT - 19(3), PIRMAL CHAMBERS, 3 RD FLOOR, LALBAUG, PAREL, MUMBAIA - 400 012 ./ ./ PAN/GIR NO. : AACHP 9479A ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY: SHRI ASHOK J. PATIL / RESPONDENT BY: SHRI PAWAN KUMAR BEERLA / DATE OF HEARING : 01 . 1 2 .2015 / DATE OF PRONOUNCEMENT : 01 .12 .2015 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE ASSESSEE IS PREFERRED AGAINST THE ORDER OF THE LD. CIT(A) - 18, MUMBAI D ATED 27 .1 1 .2012 PERTAINING TO ASSESSMENT YEAR 2008 - 09. 2. THE GRIEVANCE OF THE ASSESSEE REVOLVES AROUND THE TREATMENT OF INCOME EARNED BY THE ASSESSEE FROM RUNNING ITS BUSINESS CENT E RS ITA. NO. 1225/M/2013 2 UNDER THE HEAD INCOME FROM HOUSE PROPERTY INSTEAD OF BUSINESS INCOME AS CLAIMED BY THE ASSESSEE. 3. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASSESSEE STATED THAT IN THE EARLIER ASSESSMENT YEARS THIS ISSUE HAS BEEN DECIDED BY THE TRIBUNAL AGAINST THE ASSESSEE AND IN FAVOUR OF THE REVENUE. THE LD. CO UNSEL FURTHER POINTED OUT THAT AGAINST THE ORDER OF THE TRIBUNAL, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE HONBLE HIGH COURT AND THE APPEAL HAS BEEN ADMITTED BY THE HONBLE HIGH COURT ADMITTING THE FOLLOWING QUESTION OF LAW: WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE RECEIPTS UNDER VARIOUS AGREEMENTS ARE INCOME FROM BUSINESS OR INCOME FROM OTHER SOURCES OR INCOME FROM HOUSE PROPERTY? 3.1. SINCE THE QUESTION OF LAW HAS BEEN ADMITTED BY THE HONBLE HIGH COURT, THE ASSESSEE HAS FILED A DECL ARATION IN FORM NO. 8 AS PER RULE - 16 U/S. 158A OF THE ACT. 3.2. WITH THIS DECLARATION, THE ASSESSEE HAS STATED THAT IT WILL NOT RAISE THE SAID QUESTION OF LAW IN APPEAL BEFORE ANY APPELLATE AUTHORITY AS PER THE PROVISIONS OF THE LAW. 4. WE HAVE GIVEN A THOUGHTFUL CONSIDERATION TO THE SUBMISSIONS MADE BY THE LD. COUNSEL. WE HAVE ALSO GONE THROUGH THE DECLARATION FILED U/S. 158A OF THE ACT. WE HAVE ALSO GONE THROUGH THE ORDER OF THE FIRST APPELLATE AUTHORITY. WE FIND THAT THE FIRST APPELLATE AUTHORITY HAS DISMISSED THE APPEAL OF THE ASSESSEE FOLLOWING THE DECISION OF THE TRIBUNAL GIVEN IN EARLIER ASSESSMENT YEARS. SINCE THE APPEAL FOR ITA. NO. 1225/M/2013 3 EARLIER ASSESSMENT YEARS HAVE BEEN ADMITTED BY THE HONBLE HIGH COURT IN INCOME TAX APPEAL NO. 1412 OF 2011 WITH 1413 O F 2011 WITH 456 OF 2012, THE DECLARATION OF THE ASSESSEE IS AS PER THE PROVISIONS OF THE LAW. RESPECTFULLY FOLLOWING THE FINDINGS OF THE CO - ORDINATE BENCH, IN THE LIGHT OF THE DECLARATION OF THE ASSESSEE, THIS APPEAL BY THE ASSESSEE IS DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON 1 ST DECEMBER , 2015 SD/ - SD/ - ( PAWAN SINGH ) (N.K. BILLAIYA) /JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED : 1 ST DECEMBER , 2015 . . ./ RJ , SR. PS / 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