GAURANG D DAMANI, MUMBAI V. DCIT 21(2), MUMBAI

ITA 1870/MUM/2012

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2661 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 4 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2016
• Appeal Filed By: Assessee
• Bench Allotted: G
• Next Hearing Date: 27-06-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 19-03-2012
• Court: TRIBUNAL
• Department Lawyers: VIVEK PERAMPURANA
• Keywords: Business income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) & PAWAN SINGH (JM) I.T.A. NO. 1870 /MUM/ 20 1 2 (ASSESSMENT YEAR 200 8 - 0 9 ) MR. GAURANG D. DAMANI A - 11/2, AVANTI APARTMENT FLANK ROAD, SION EAST MUMBAI - 400 022. VS. DCIT 2 1(2) MITTAL COURT, B WING R.NOS. 13 & 3105 3 RD FLOOR NARIMAN POINT MUMBAI - 40 0021. ( APPELLANT ) ( RESPONDENT ) PAN NO .AADPD1692A ASSESSEE BY NONE DEPARTMENT BY SHRI VIVEK PERAMPURANA DATE OF HEARING 25 . 7 . 201 6 DATE OF PRONOUNCEMENT 25 . 7. 201 6 O R D E R PER B.R. BASKARAN (AM) : - THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 12.12.2012 PASSED BY LEARNED CIT(A) - 32, MUMBAI AND IT RELATES TO A.Y. 2008 - 09. 2 . NONE APPEARED ON BEHALF OF THE ASSESSEE EVEN THOUGH NOTICE OF HEARING WAS SE N T BY REGISTERED POST ON MORE THAN ONE OCCASION. HENCE WE PROCEED TO DISPOSE OF THE APPEAL EX - PARTE, WITHOUT PRESENCE OF THE ASSESSEE. 3 . THE ASSESSEE IS CONTESTING THE DECISION OF LEARNED CIT(A) IN CONFIRMING THE ASSESSMENT OF SHORT TERM CAPITAL GAINS ARISING ON SALE OF SHARES AS BUSINESS INCOME. 4. WE HAVE HEARD LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE RECORD. WE NOTICED THAT LEARNED CIT(A) HAS PASSED A REASONED ORDER MEETING ALL THE ARGUMENTS PUT BY THE ASSESSEE. FURTHER T HE ASSESSEE HAS NOT FURNISHED GAURANG D. DAMANI 2 ANY MATERIAL BEFORE US TO CONTRADICT THE FINDINGS GIVEN BY LEARNED CIT(A). UNDER THESE CIRCUMSTANCES, WE DO NOT FIND ANY REASON TO INTERFERE THE ORDER PASSED BY LEARNED CIT(A). 5. IN THE RESULT, APPEAL FILED BY THE ASSESSEE I S DISMISSED. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 25 .7.2016 SD/ - SD/ - (PAWAN SINGH) (B.R.BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 25 / 7 / 20 1 6 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 PS