A.C.I.T.-3, Mathura V. Sh. Mahesh Chand Gupta, Mathura

ITA 219/AGR/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 7004 (ITAT-AGRA)
• Duration Of Justice: 1 year(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-06-2011
• Appeal Filed By: Department
• Bench Allotted: DB
• Next Hearing Date: 14-06-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 03-06-2010
• Court: TRIBUNAL
• Assessee Lawyers: J L VERMA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE SHRI P.K. BANSAL, ACCOUNTANT MEMBER AND SHRI H.S. SIDHU, JUDICIAL MEMBER ITA NO. 219/AGRA/2010 ASSTT. YEAR : 2006-07 A.C.I.T. 3, MATHURA. VS. SHRI MAHESH CHAND G UPTA, H.NO. 1, ANAND VIHAR, (RAMAN RETI), VRINDAVAN, MATHURA. (PAN ACQPG 0463 M) (APPELLANT) (RESPONDENT) FOR APPELLANT : SHRI VINOD KUMAR, JR. D.R. FOR RESPONDENT : SHRI J.L. VERMA, ADVOCATE ORDER PER H.S. SIDHU, JM: THE REVENUE HAS FILED THIS APPEAL AGAINST THE ORD ER DATED 30.03.2010 OF LEARNED CIT(A) ON THE FOLLOWING GROUNDS : 1. THAT THE CIT(A)-1, AGRA HAS ERRED IN LAW AND ON FACTS IN DELETING THE DISALLOWANCE OF RS.3,63,123/- MADE AS NO EXPENDITUR E WAS MADE BY THE ASSESSEE TO EARN THE DIVIDEND INCOME OF RS.23,52,00 0/- AND INTEREST INCOME OF RS.18,20,000/- AND ASSESSEE HAS FAILED TO GIVE SATISFACTORY REPLY TO SHOW CAUSE AS TO WHY OPERATING EXPENDITURE DEBIT ED BE NOT PROPORTIONATE DISALLOWED IN THE RATIO OF EXEMPT INC OME TO THE TOTAL INCOME. 2. THAT THE APPELLANT CRAVES LEAVE TO ADD OR DELETE OR ALTER OR MODIFY ANY ONE OR MORE GROUND (S) OF APPEAL DURING THE APPELLA TE PROCEEDINGS. 3. THAT THE ORDER OF THE CIT(APPEALS)-1, AGRA BEING ERRONEOUS IN LAW AND ON FACTS BE SET ASIDE AND THAT THE ORDER OF THE ASS ESSING OFFICER BE RESTORED. 4. THE DEPARTMENT HAS FILED APPEAL BEFORE THE HONB LE ITAT ON IDENTICAL ISSUE IN ASSESSEES OWN CASE IN A.Y. 2005-06. 2 2. AT THE TIME OF HEARING LD. COUNSEL FOR THE ASSES SEE STATED THAT THE ISSUE INVOLVED IN THE PRESENT APPEAL HAS ALREADY BEEN ADJUDICATED AND DEC IDED IN FAVOUR OF THE ASSESSEE BY THIS BENCH IN ITA NO.325/AGRA/2009, A.C.I.T.-3 MATHURA VS. SHR I MAHESH CHAND GUPTA ON 18.03.2011 IN THE APPEAL FILED BY THE DEPARTMENT AND THE DEPARTME NTS APPEAL HAS BEEN DISMISSED BY THIS BENCH. 3. ON THE CONTRARY, THE LEARNED DR HAS NOT RAISED A NY OBJECTION ON THE STATEMENT MADE BY THE LEARNED COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD THE BOTH PARTIES AND PERUSED THE R ELEVANT RECORD AVAILABLE WITH US ESPECIALLY THE IMPUGNED ORDER, ISSUE IN DISPUTE AND THE ORDER OF THIS BENCH PASSED IN THE ASSESSEES OWN CASE FOR THE ASSESSMENT YEAR 2005-06 (SUPRA). WE ARE OF THE CONSIDERED OPINION THAT WE HAVE ALREADY ADJUDICATED AND DECIDED THE IS SUE IN DISPUTE IN FAVOUR OF THE ASSESSEE IN THE APPEAL FILED BY THE REVENUE, I.E., ITA NO. 325/AGRA /2009, ACIT -3, MATHURA VS. SHRI MAHESH CHAND GUPTA ON 18.03.2011. RESPECTFULLY FOLLOWING T HE SAME, THE ISSUE IN DISPUTE IS DECIDED IN FAVOUR OF THE ASSESSEE BY DISMISSING THE APPEAL FIL ED BY THE DEPARTMENT AND UPHOLDING THE IMPUGNED ORDER DATED 30.03.2010 PASSED BY THE LEARN ED FIRST APPELLATE AUTHORITY. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 17.06.20 11. SD/- SD/- (P.K. BANSAL) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 17 TH JUNE, 2011 *AKS/- 3 COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A) BY ORDER 4. CIT, CONCERNED 5. DR, ITAT, AGRA 6. GUARD FILE ASSISTANT REGISTRAR TRUE COPY