HEMCHAND J. PUROHIT, MUMBAI V. ADDL CIT RG 12(1), MUMBAI

ITA 194/MUM/2010

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 3961 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: H
• Next Hearing Date: 01-11-2010
• Assessment Year: 2005-2006
• Appeal Filed On: 08-01-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S C TIWARI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH MUMBAI BEFORE SHRI T.R. SOOD (AM) AND SMT. ASHA VIJAYARAG HAVAN (JM) ITA NO. 194/MUM/2010 ASSESSMENT YEAR-2005-06 SHRI HEMCHAND J. PUROHIT, 24/26 GROUND FLOOR, CAMA BLDG., DALAL STREET, FORT, MUMBAI-400 023 PAN-AAFPP 8459D THE ADDL. CIT, RANGE 12(1), AAYAKAR BHAVAN, MUMBAI-400 020 (APPELLANT) VS. (RESPONDENT) APPELLANT BY: SHRI S.C. TIWARI RESPONDENT BY: MS. JOTHILAKSHMI NAYAK O R D E R PER ASHA VIJAYARAGHAVAN (JM) THIS APPEAL PREFERRED BY THE ASSESSEE IS DIRECTED A GAINST THE ORDER DATED 20.11.2009 PASSED BY THE LD. CIT(A)-23 FOR TH E ASSESSMENT YEAR 2005-06. 2. THE ONLY ISSUE RAISED BY THE ASSESSEE RELATES TO DISALLOWANCE OF RS. 14,41,936/- MADE BY AO BY INVOKING THE PROVISION OF SEC. 14A. 3. WE FIND THAT THE DECISION OF SPECIAL BENCH IN TH E CASE OF DAGA CAPITAL MANAGEMENT PVT. LTD HAS BEEN SET ASIDE BY T HE JURISDICTIONAL HIGH COURT IN THE CASE OF GODREJ & BOYCE MFG CO LTD V DCIT (2010 TIOL- 564-HC-MUM-IT). IN THE CIRCUMSTANCES, WE SET ASIDE THE ORDER OF THE AO AND CIT(A) ON THIS ISSUE AND REMIT THE MATTER BACK TO THE FILES OF THE AO TO DECIDE THE ISSUE AFRESH IN LINE WITH THE RATIO O F THE DECISION OF THE JURISDICTIONAL HIGH COURT. ITA NO.194 /M/10 2 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON THIS 4 TH DAY OF NOVEMBER, 2010 SD/- SD/- ( T.R. SOOD ) (ASHA VIJAYARAGHAVAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 4 TH NOVEMBER, 2010 RJ COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT-CONCERNED 4. THE CIT(A)-CONCERNED 5. THE DR H BENCH TRUE COPY BY ORDER ASSTT. REGISTRAR, I.T.A.T, MUMBAI ITA NO.194 /M/10 3 DATE INITIALS 1 DRAFT DICTATED ON: 1.11.2010 SR. PS/PS 2. DRAFT PLACED BEFORE AUTHOR: 1.11.2010 ______ SR. PS/PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER: _________ ______ JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER: _________ ______ JM/AM 5. APPROVED DRAFT COMES TO THE SR. PS/PS: _________ ______ SR. PS/PS 6. KEPT FOR PRONOUNCEMENT ON: _________ ______ SR. PS/ PS 7. FILE SENT TO THE BENCH CLERK: _________ ______ SR. PS/PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK: _________ ______ 9. DATE OF DISPATCH OF ORDER: _________ ______