LIZ INVESTMENTS P.LTD, MUMBAI V. DCIT 1(2), MUMBAI

ITA 2492/MUM/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3174 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-08-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 09-07-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 02-04-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: A RAMACHANDRAN
• Keywords: Business expenditure

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH A, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER ITA NO.2492/M/2013 ASSESSMENT YEAR: 2005-06 M/S. LIZ INVESTMENTS PVT. LTD., 1 ST FLOOR, CECIL COURT, LANSDOWNE ROAD, COLABA, MUMBAI - 1 PAN: AAACL 0565E VS. DY. COMMISSIONER OF INCOME TAX-1(2), AAYAKAR BHAVAN, MUMBAI (APPELLANT) (RESPONDENT) PRESENT FOR: ASSESSEE BY : SHRI VIJAY MEHTA, A.R. REVENUE BY : SHRI A. RAMACHANDRAN, D.R. DATE OF HEARING : 16.08.2016 DATE OF PRONOUNCEMENT : 24.08.2016 O R D E R PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSES SEE AGAINST THE ORDER DATED 04.01.2013 OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFTER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT Y EAR 2005-06. 2. THE ASSESSEE IS AGGRIEVED BY THE DISALLOWANCE OF THE BUSINESS EXPENSES OF RS.15,66,245/- BY THE LOWER AUTHORITIES. AT THE OUTSET, THE LD. A.R. OF THE ASSESSEE HAS STATED THAT THE ASSESSEE HAD FURNISHED THE NECESSARY DETAILS AND DETAILED SUBMISSIONS REGARDING THE ABOVE CLAIM OF E XPENDITURE. HE HAS FURTHER BROUGHT OUR ATTENTION TO THE FACT THAT THE ASSESSEE HAD FILED WRITTEN SUBMISSIONS BEFORE THE LD. CIT(A) DATED 12.12.12. HOWEVER, AS DESIRED BY THE LD. CIT(A), THE FURTHER NECESSARY DETAILS AND SUBMISSIONS WERE FILED BY THE ASSESSEE BEFORE THE LD. CIT(A) ON 14.12.12. HOWEVER, WHILE PASSING THE IMPUGNED ORDER THE LD. CIT(A) TOTALLY OVERLOOKED THE SUBMISSIONS DATED 14.12.12 FILED BY THE ITA NO.2492/M/2013 M/S. LIZ INVESTMENTS PVT. LTD. 2 ASSESSEE. HE, THEREFORE, HAS STATED THAT THE MATTE R BE RESTORED TO THE LD. CIT(A) TO PASS THE ORDER AFRESH AFTER GOING THROUGH THE SUBMISSIONS DATED 14.12.12 OF THE ASSESSEE. 3. THE LD. D.R. HAS ALSO NOT OBJECTED TO THE SAME. 4. IN VIEW OF THIS, THE IMPUGNED ORDER OF THE LD. C IT(A) IS HEREBY SET ASIDE AND THE MATTER IS RESTORED TO THE FILE OF THE LD. C IT(A) TO DECIDE THE APPEAL AFRESH AFTER DULY CONSIDERING THE NECESSARY SUBMISS IONS DATED 14.12.12 AND AS MAY BE ADVANCED BY THE ASSESSEE DURING THE COURSE O F ARGUMENTS. 5. WITH THE ABOVE OBSERVATIONS, THE APPEAL OF THE A SSESSEE IS HEREBY TREATED AS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 24.08.2016. SD/- SD/- (B.R. BASKARAN) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 24.08.2016. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORD ER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.