ACIT CEN CIR-8, MUMBAI V. SHIRISH B.MODY, MUMBAI

ITA 1885/MUM/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7564 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2007-2008
• Appeal Filed On: 25-03-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P N DEVEDARAN
• Assessee Lawyers: D R RAIYANI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI BEFORE SHRI. P.M. JAGTAP (A.M.) AND SHRI. N.V. VASU DEVAN (J.M.) ITA NO.1885/MUM/2009 ASSESSMENT YEAR : 2007-08 ASST.COMMISSIONER OF INCOME-TAX, C.C.8, C. RG.-2, 8 TH FLR., OLD CGO BLDG. ANNEXE, M.K. MARG, MUMBAI 400 020 VS. SHIRISHI B. MODY 83, B & C SHETH GOVINDRA SMRUTI, DR. A.B. RD., WORLI, MUMBAI 400 018. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI P. N. DEVEDARAN RESPONDENT BY : SHRI D.R. RAIYANI O R D E R PER P.M. JAGTAP, A.M. THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LEARNED CIT(A) CENTRAL -II, MUMBAI DATED 28.01.2009 WHEREBY HE DIRECTED THE ASSESSING OFFICER TO TREAT THE SEIZED CASH OF RS.30 LACS AND THE AMOUNT OF RS.71 LACS PAID BY PAY ORDER IN FAVOUR OF DDIT (INV .) AS ADVANCE TAX PAID BY THE ASSESSEE AS PER THE SPECIFIC REQUEST MADE VIDE LETTER DATED 14.03.2007 AND TO GIVE CREDIT THEREOF WHILE CALCULATING THE IN TEREST PAYABLE BY THE ASSESSEE. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT T HE SIMILAR ISSUE HAD COME UP FOR CONSIDERATION BEFORE THE CORDINATE BENCH OF THIS TRIBUNAL IN THE CASE OF J.B. MODY, ON ASSESSEE BELONGING TO THE SAME GRO UP AND VIDE ITS ORDER DATED 09.12.2009 PASSED IN ITA NO.1884/MUM/2009, TH E TRIBUNAL UPHELD THE ORDER OF THE LEARNED CIT(A) GRANTING A SIMILAR RELIEF TO THE ASSESSEE OBSERVING THAT THERE WAS NOTHING WRONG IN THE SAID ORDER DIRECTING THE ASSESSING OFFICER TO GIVE CREDIT FOR THE AMOUNT OF RS.2.16 CRORES CONSISTING OF ITA NO.1885/MUM/2009 A.Y.: 2007-08 2 SEIZED CASH AND PAYMENT MADE BY D.D. TREATING THE S AME AS ADVANCE TAX FOR COMPUTING INTEREST PAYABLE BY THE ASSESSEE. AS T HE ISSUE INVOLVED IN THE PRESENT CASE AS WELL AS ALL THE MATERIAL FACTS RELE VANT THERETO ARE SIMILAR TO THE CASE OF SHRI J.B. MODY (SUPRA), WE RESPECTFULLY FOLLOW THE ORDER OF THE TRIBUNAL PASSED IN THE SAID CASE AND UPHOLD THE IMP UGNED ORDER OF THE LEARNED CIT(A) GIVING SIMILAR RELIEF TO THE ASSESSE E. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED ON THIS 18 TH DAY OF FEBRUARY, 2010. SD/- (N.V. VASUDEVAN) (JUDICIAL MEMBER) SD/- (P.M. JAGTAP) (ACCOUNTANT MEMBER) MUMBAI, DATED 18 TH FEBRUARY, 2010. JANHAVI COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS)-II, MUMBAI 4. COMMISSIONER OF INCOME TAX, CITY-II, MUMBAI 5. DEPARTMENTAL REPRESENTATIVE, BENCH E, MUMBAI TRUE COPY BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI ITA NO.1885/MUM/2009 A.Y.: 2007-08 3 DATE INITIALS 1. DRAFT DICTATED ON 16-02-2010 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 17-02-2010 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM 5. APPROVED DRAFT COMES TO THE SR. PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. FILE SENT TO THE BENCH CLERK SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER