ITO 3(1)(1), MUMBAI V. AUSPICIOUS INVESTMENT P. LTD, MUMBAI

ITA 2526/MUM/2009

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 5003 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 20-04-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D SONGATE
• Assessee Lawyers: AMISHA GANDHI
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, A BENCH, MUMBAI. BEFORE SHRI S.V.MEHROTRA, AM & SMT ASHA VIJAYRAGHA VAN,JM I.T.A NO.2526/ MUM/2009 ASSESSMENT YEAR: 2003-04 THE I.T.O. 3(1)(1), V. AUSPICIOUS INVESTMENT P.L TD., R.NO.666, M.K. ROAD, AAYAKAR BHAVAN, 84-A, MITTAL COURT, 224, NARIMAN PT. MUMBAI-20. MUMBAI-21. PA NO.AAACA 3423 C (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI D.SONGATE RESPONDENT BY : SMT. AMISHA GANDHI O R D E R PER S.V.MEHROTRA, AM THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER DATED 5.2.2009 OF LD CIT (A)-III, MUMBAI FOR THE ASSESSMENT YEAR 200 3-04. 2. IN THIS CASE, THE ASSESSMENT HAD BEEN FRAMED U/S . 143(3) IN CONSEQUENCE TO THE ORDER U/S.263 OF THE LD COMMISSIONER OF INCOME TAX- 3, MUMBAI. 3. AT THE TIME OF HEARING, LD COUNSEL FOR THE ASSES SEE FILED BEFORE US A COPY OF THE DECISION DATED 9 TH OCTOBER, 2009 IN ITA NO.2404/M/2008 FOR THE ASSESS MENT YEAR 2003- 04, WHEREIN, THE TRIBUNAL HAS QUASHED THE ORDER U/S .263 OF THE I.T.ACT. 4. HAVING HEARD BOTH THE SIDES, WE FIND THAT THE TR IBUNAL HAS QUASHED THE ORDER U/S.263 AND, THEREFORE, THE ASSESSMENT FRAMED IN CO NSEQUENCE TO ORDER U/S.263 HAS NO LEGS TO STAND. ACCORDINGLY, REVENUES APPEAL HAS B ECOME INFRUCTUOUS. 2 5. IN THE RESULT, APPEAL FILED BY THE REVENUE STAND S DISMISSED AS INFRUCTUOUS. PRONOUNCED IN THE OPEN COURT ON 27 TH AUGUST, 2010 SD/- (ASHA VIJAYRAGHAVAN) (JUDICIAL MEMBER) SD/- (S.V. MEHROTRA) (ACCOUNTANT MEMBER) MUMBAI, DATED 27 TH AUGUST, 2010 PARIDA COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS)-III, MUMBA I 4. COMMISSIONER OF INCOME TAX-3. MUMBAI 5. DEPARTMENTAL REPRESENTATIVE, BENCH A, MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI 3