NISHA PHARMACEUTICALS P. LTD, MUMBAI V. ACIT (OSD) CIR 2(2), MUMBAI

ITA 2629/MUM/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 7934 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 06-04-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARESH KUMAR BALODIA
• Assessee Lawyers: S S PHADKAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH B MUMBAI BEFORE SHRI R.S. SYAL (AM) AND SMT. ASHA VIJAYARAGH AVAN (JM) ITA NO. 2629/MUM/2010 ASSESSMENT YEAR-2006-07 M/S. NISHA PHARMACEUTICALS PVT. LTD., HIND RAJASTHAN CHAMBERS, 6, OAKLANE, FORT, MUMBAI-400 023 PAN-AACCN 0129J VS. THE ACIT (OSD), CIR. 2 (2), AAYAKAR BHAVAN, MUMBAI-400 020 (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI S.S. PHADKAR RESPONDENT BY: SHRI NARESH KUMAR BALODIA O R D E R PER ASHA VIJAYARAGHAVAN (JM) THIS APPEAL PREFERRED BY THE ASSESSEE IS DIRECTED A GAINST THE ORDER DATED 29.01.2010 PASSED BY THE LD. CIT(A)-5 FOR THE ASSESSMENT YEAR 2006-07. 3. THE ONLY ISSUE RAISED BY THE ASSESSEE RELATES TO DISALLOWANCE OF RS. 5,30,866/- MADE BY AO BY INVOKING THE PROVISION OF SEC. 14A. 4. WE FIND THAT THE DECISION OF THE SPECIAL BENCH I N THE 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 VS DCIT (2010 TIOL-564-HC-MUM-IT). IN THE CIRCUMSTANCES, WE SET A SIDE THE ORDER OF AO AND CIT(A) ON THIS ISSUE AND REMIT THE MATTER BA CK TO THE FILES OF THE AO TO DECIDE THE ISSUE AFRESH IN LINE WITH THE RATI O OF THE DECISION OF THE JURISDICTIONAL HIGH COURT. ITA NO. 2629/M/2010 2 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON THIS 25 TH DAY OF MARCH, 2011 SD/- SD/- (R.S. SYAL) (ASHA VIJAYARAGHAVAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 25 TH MARCH, 2011 RJ COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT-CONCERNED 4. THE CIT(A)-CONCERNED 5. THE DR B BENCH TRUE COPY BY ORDER ASSTT. REGISTRAR, I.T.A.T, MUMBAI ITA NO. 2629/M/2010 3 DATE INITIALS 1 DRAFT DICTATED ON: 24 . 0 3 .201 1 SR. PS/PS 2. DRAFT PLACED BEFORE AUTHOR: 2 4 .0 3 .2011 ______ 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. 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK: DATE ON WHICH FILE GOES TO AR _________ ______ 10 . DATE OF DISPATCH OF ORDER: _________ ______