SUBHADRADEVI DAGA, MUMBAI V. ITO 14(1)(1), MUMBAI

ITA 2527/MUM/2009

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 62605 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 2 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-07-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Next Hearing Date: 13-06-2012
• Assessment Year: 2003-2004
• Appeal Filed On: 20-04-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PARTHARARTHI NAIK
• Keywords: Capital receipt

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH I BENCH BEFORE SHRI B.R.MITTAL(JUDICIAL MEMBER) AND SHRI N.K.BILLAIYA (ACCOUNTANT MEMBER) ITA NO.2527/MUM/2009 ASSESSMENT YEAR: 2003 -04 SUBHADRADEVI DAGA, 4 TH FLOOR, 18/22, SHEIKH MENON STREET, MUMBAI-02 PA NO.AFFPF 7443 E ITO 14(1)(1), EARNEST HOUSE, NARIMAN POINT, MUMBAI-21. (APPELLANT) VS (RESPONDENT) APPELLANT BY : SHRI VIMAL PUNMIYA RESPONDENT BY: SHRI PARTHARARTHI NAIK DATE OF HEARING: 13.6.2012 DATE OF PRONOUNCEMENT: 4.7.2012 ORDER PER B.R.MITTAL, JM: THE ASSESSEE HAS FILED THIS APPEAL FOR ASSESSMENT YEAR 2003-04 AGAINST ORDER DATED 7.1.2009 OF LD CIT(A), MUMBAI ON THE FOLLOWIN G GROUND: COMPENSATION RECEIVED FROM M/S. M.R. & D.R. THACK ER TOWARDS MENTAL STRESS AND HARDSHIP FACED BY YOUR APPELLANT AND ALS O ON ACCOUNT OF LOSS OF VALUABLE ARTICLES, STAMPS, CHANDELIER, ETC BE HE LD AS CAPITAL RECEIPTS IN NATURE AND NOT LIABLE TO BE TAXED UNDER PROVISIONS OF INCOME TAX ACT, 1961. 2. AT THE TIME OF HEARING, LD A.R. FOR THE ASSESSEE SUBMITTED THAT LD CIT(A) HAS PASSED EXPARTE ORDER AND REFERRED PARA 4 OF THE SA ID ORDER. HE SUBMITTED THAT LD CIT(A) HAS NOT CONSIDERED THE ENTIRE FACTS WHILE DI SMISSING THE APPEAL OF THE ASSESSEE. LD D.R. SUBMITTED THAT THE MATTER COULD BE RESTORED TO THE FILE OF LD CIT(A) ON THE FACTS AND CIRCUMSTANCES OF THE CASE. 3. CONSIDERING ABOVE SUBMISSIONS OF LD REPRESENTATI VES OF PARTIES THAT THE ORDER OF LD CIT(A) HAS BEEN PASSED EXPARTE, WE SET ASIDE THE ORDER OF LD CIT(A) AND RESTORE THE ITA NO.2527/MUM/2009 ASSESSMENT YEAR: 2003 -04 2 APPEAL TO HIS FILE TO DECIDE THE ISSUE AFRESH AFTER GIVING DUE OPPORTUNITY OF HEARING TO BOTH THE PARTIES AND CONSIDERING SUCH EVIDENCES AS MAY BE PLACED BEFORE HIM. HENCE, GROUND OF APPEAL TAKEN BY ASSESSEE IS ALLOWED FOR S TATISTICAL PURPOSES. 4. IN THE RESULT, APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON 4 TH JULY, 2012 SD/- (N.K.BILLAIYA) ACCOUNTANT MEMBER SD/- (B.R. MITTAL) JUDICIAL MEMBER MUMBAI, DATED 4 TH JULY, 2012 PARIDA COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS),XIV, MUMBA I 4. COMMISSIONER OF INCOME TAX, 14, MUMBAI 5. DEPARTMENTAL REPRESENTATIVE, BENCH I MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI