ITO 16(1)(2), MUMBAI V. KHUSHNUMA CHS LTD, MUMBAI

ITA 1450/MUM/2011

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 79210 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 4 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-07-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: I
• Next Hearing Date: 01-07-2014
• Assessment Year: 2003-2004
• Appeal Filed On: 18-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S PADMAJA
• Section: 143(3); 63

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL I B ENCH, MUMBAI , !', % % % % &' . % . () . % . , !' * BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND DR.S.T.M. PAVALAN, JUDICIAL MEMBER ./ I.T.A. NO.1450/MUM/2011 ( + + + + / ASSESSMENT YEAR :2003-04 THE ITO 16(1)(2), MATRU MANDIR, MUMBAI-400 007 / VS. M/S. KHUSHNUMA CHS LTD., 29-A, M.L. DAHANUKAR MARG, MUMBAI-400 026 ', ./ -. ./ PAN/GIR NO. : AAAAK 2431Q ( ,/ / APPELLANT ) .. ( 01,/ / RESPONDENT ) ,/ 2 / APPELLANT BY: MS. S. PADMAJA 01,/ 3 2 / RESPONDENT BY SHRI DALPAT SHAH 3 4) / DATE OF HEARING :01.07.2014 56+ 3 4) / DATE OF PRONOUNCEMENT :01.07.2014 !7 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST T HE ORDER OF THE LD. CIT(A)-27, MUMBAI DT.12.11.2010 PERTAINING TO A.Y. 2003-04. 2. THE GRIEVANCES OF THE REVENUE READ AS UNDER: 1. THE LD. CIT(A) ERRED IN CANCELLING THE ASSESSME NT ORDER U/S. 143(3) R.W.S. 263 OF THE I.T. ACT, 1961. 2. THE LD. CIT(A) ERRED IN RELYING ON THE DECISION OF HONBLE ITAT, MUMBAI WHEREIN THE HONBLE ITAT HAS ITA NO. 1450/M/2011 2 QUASHED THE ORDER PASSED U/S. 263 BY CIT-16, MUMBAI AND RESTORED THE ASSESSMENT ORDER DT. 28.2.2006. T HE DECISION IS NOT ACCEPTED BY THE DEPARTMENT AND THE ISSUE IS SUB-JUDICE. 3. THE LD. CIT(A) ERRED IN DELETING THE ADDITIONS O N ACCOUNT OF AMOUNT RECEIVED FROM MEMBERS ON TRANSFER OF FLAT OF RS. 3,65,000/- AMOUNT RECEIVED TOWARDS SINKING FUND OF RS. 11,532/- AND RECEIVED TOWARDS GENERAL MAINTENANCE FUND FROM MEMBER OF RS. 12,02,500/-. 3. THE ASSESSMENT ORDER IS PURSUANT TO ORDER U/S. 2 63 PASSED BY THE COMMISSIONER. THE SAID ORDER OF THE COMMISSIONER P ASSED U/S. 263 HAS BEEN QUASHED BY THE TRIBUNAL IN ITA NO. 3355 /MUM/2 008 DT. 22.10.2009. THE LD. CIT(A) THEREFORE HELD THAT THE ASSESSMENT ORDER U/S. 143(3) R.W. SECTION 263 DOES NOT SURVIVE. 4. THE REVENUE IS IN APPEAL AGAINST THIS FINDING OF THE LD. CIT(A). CONSIDERING THE FACT THAT THE ORDER U/S. 263 HAS BE EN QUASHED BY THE TRIBUNAL, WE DO NOT FIND ANY REASON TO INTERFERE WI TH THE FINDINGS OF THE LD. CIT(A). 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 01.07.2014. SD/- SD/- (DR. S.T.M. PAVALAN) (N.K. BILLAIYA) !' /JUDICIAL MEMBER !' / ACCOUNTANT MEMBER MUMBAI; 8! DATED 01.07.2014 . . ./ RJ , SR. PS ITA NO. 1450/M/2011 3 !7 !7 !7 !7 3 33 3 04 04 04 04 9+4 9+4 9+4 9+4 / COPY OF THE ORDER FORWARDED TO : 1. ,/ / THE APPELLANT 2. 01,/ / THE RESPONDENT. 3. : ( ) / THE CIT(A)- 4. : / CIT 5. ;< 04 , , / DR, ITAT, MUMBAI 6. <& = / GUARD FILE. !7 !7 !7 !7 / BY ORDER, 14 04 //TRUE COPY// > >> > / ? ? ? ? - - - - (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI