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

ITA 1810/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1837 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-11-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2010-2011
• Appeal Filed On: 27-03-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJAT MITTAL
• Keywords: Business income; Question of law

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'F' BENCH, MUMBAI BEFORE SHRI JASON P. BOAZ, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN , JUDICIAL MEMBER ITA NOS. 1810 &1811/MUM/2015 (ASSESSMENT YEARS: 2010-11 & 2011-12) VAISHNAV S PURI (HUF) VS. D C I T 19(3) PROP. OF KAKS INTERNATIONAL NCL BLDG., 8 TH FLOOR BANDRA KURLA COMPLEX BANDRA (E), MUMBAI 400051 MATRU MANDIR, NAKA CHOWK OPP. BHATIA HOSPITAL TARDO, MUMBAI 400034 PAN AACHP9479A APPELLANT RESPONDENT APPELLANT BY: SHRI ASHOK PATIL RESPONDENT BY: SHRI RAJAT MITTAL DATE OF HEARING: 17.11.2016 DATE OF PRONOUNCEMENT: 18.11.2016 O R D E R PER JASON P. BOAZ, A.M. THESE APPEALS BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDERS OF THE CIT(A)-34, MUMBAI BOTH DATED 16.01.2015 FOR ASSESSM ENT YEARS 2010-11 AND 2011-12. SINCE COMMON ISSUES ARE INVOLVED, THES E APPEALS WERE HEARD TOGETHER AND ARE BEING DISPOSED OFF BY WAY OF THIS COMMON ORDER. 2. FROM A PERUSAL OF THE GROUNDS RAISED BY THE ASSESSE E IN THE APPEALS FOR ASSESSMENT YEARS 2010-11 AND 2011-12, THE GRIEV ANCE OF THE ASSESSEE REVOLVES AROUND THE TREATMENT OF INCOME EARNED BY T HE ASSESSEE FROM RUNNING ITS BUSINESS CENTRES, I.E. WHETHER THE INCO ME IS TO BE BROUGHT TO TAX UNDER THE HEAD INCOME FROM HOUSE PROPERTY AS HELD BY THE DEPARTMENT OR BUSINESS INCOME AS CLAIMED BY THE A SSESSEE. 3.1 AT THE VERY OUTSET, THE LEARNED A.R. OF THE ASS ESSEE FAIRLY CONCEDED THAT IN THE ASSESSEES OWN CASE A COORDINATE BENCH OF THE TRIBUNAL IN ITA NOS.7046/MUM/2006, 4382/MUM/2007 AND 4747/MUM/2008 DATED 12.01.2011 FOR ASSESSMENT YEARS 2003-04 TO 2005-06 HAS DECIDED THIS ITA NOS. 1810 & 1811/MUM/2015 VAISHNAV S PURI (HUF) 2 VERY ISSUE IN FAVOUR OF REVENUE AND AGAINST THE ASS ESSEE. THIS ORDER (SUPRA) WAS FOLLOWED BY ANOTHER COORDINATE BENCH IN THE ASSESSEES OWN CASE FOR A.Y. 2008-09 IN ITA NO. 1225/MUM/2013 DATE D 01.12.2015. THE LEARNED A.R. FURTHER POINTED OUT THAT AGAINST THE A FORESAID ORDER OF THE ITAT, THE ASSESSEE HAS PREFERRED APPEALS BEFORE THE HON'BLE BOMBAY HIGH COURT FOR ASSESSMENT YEARS 2003-04 TO 2005-06 AND T HE APPEAL IN ITA NOS. 1411 TO 1413 OF 2011 HAVE BEEN ADMITTED ON THE FOLL OWING QUESTION OF LAW:- WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE RECEIPTS UNDER VARIOUS AGREEMENTS ARE INCOME FROM BUSINESS OR INCO ME FROM OTHER SOURCES OR INCOME FROM HOUSE PROPERTY? 3.2 SINCE THIS QUESTION OF LAW (SUPRA) HAS BEEN ADM ITTED BY THE HON'BLE HIGH COURT, THE ASSESSEE HAS FILED A DECLARATION IN FORM NO. 8 AS PER RULE 16 UNDER SECTION 158A OF THE INCOME TAX ACT, 1961 ( IN SHORT 'THE ACT'). BY THIS DECLARATION, THE ASSESSEE UNDERTAKES THAT IT W ILL NOT RAISE THE SAID QUESTION OF LAW IN APPEAL BEFORE ANY APPELLATE AUTH ORITY AS PER THE PROVISIONS OF LAW. 3.3.1 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUS ED AND CAREFULLY CONSIDERED THE MATERIAL ON RECORD BEFORE US; INCLUD ING THE SUBMISSION PUT FORTH BY THE LEARNED A.R. OF THE ASSESSEE, THE DECLARATION FILED UNDER SECTION 158A OF THE ACT, AS WELL AS THE IMPUG NED ORDER OF THE LEARNED CIT(A). WE FIND THAT THE CIT(A) HAS DECIDED THE APPEAL OF THE ASSESSEE ON THIS ISSUE FOLLOWING THE DECISION OF TH E COORDINATE BENCH FOR EARLIER ASSESSMENT YEARS 2003-04 TO 2005-06 IN THE CASE ON HAND (SUPRA). IN VIEW OF THE FACT THAT THE APPEALS FOR E ARLIER ASSESSMENT YEARS HAVE BEEN ADMITTED BY THE HON'BLE HIGH COURT IN INC OME TAX APPEAL NOS. 1411 TO 1413 OF 2011 WITH 456 OF 2012, THE DEC LARATION OF THE ASSESSEE IS AS PER THE PROVISIONS OF SECTION 158A O F THE ACT. RESPECTFULLY FOLLOWING THE DECISIONS OF THE COORDIN ATE BENCH IN ITA NO. 1225/MUM/2013 DATED 01.12.2015 FOR A.Y. 2008-09 AND EARLIER ASSESSMENT YEARS 2003-04 TO 2005-06 (SUPRA) AND IN THE LIGHT OF THE DECLARATION OF THE ASSESSEE, THE APPEALS BY THE ASS ESSEE FOR A.Y. 2010- 11 AND 2011-12 ARE DISMISSED. ITA NOS. 1810 & 1811/MUM/2015 VAISHNAV S PURI (HUF) 3 4. IN THE RESULT, THE ASSESSEES APPEALS FOR ASSESSMEN T YEARS 2010-11 AND 2011-12 ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH NOVEMBER, 2016. S D / - SD/ - (SANDEEP GOSAIN) (JASON P. BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 18 TH NOVEMBER, 2016 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) -34, MUMBAI 4. THE CIT - 23, MUMBAI 5. THE DR, F BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.