MRS KARINA CHANDUR MORINAL, Mumbai V. CIT (A)-48, Mumbai

ITA 264/MUM/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7599 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-01-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 18-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AKHTAR HANSARI
• Assessee Lawyers: MULRAJ D GALA
• Section: 143(3); 264; 64; 48; 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, A CCOUNTANT M EMBER ITA NO. 2 64 /MUM/201 9 ( ASSESSMENT YEAR: 2014 - 15 ) MRS. KARINA CHANDUR MORIANI FLAT NO. 701, SHANTANU BUILDING, ST. MARTINS ROAD, BANDRA (W), MUMBAI - 400050. VS. COMMISSIONER OF INCOME TAX (APPEALS) - 48, 10 TH FLOOR, PRATISHTHA BHAWAN, OLD CGO BUILDING, M.K. ROAD, MUMBAI - 400020. PAN/GIR NO. AAAPJ 8472 B (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY SHRI MULRAJ D GALA (AR) REVENUE BY SHRI AKHTAR H ANSARI (DR) DATE OF HEARING 21/01/2020 DATE OF PRONOUNCEMENT 28 / 01 /20 20 / O R D E R PER: R.C. SHARMA, A.M. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 12/10/2018 OF LD. CIT(A) - 48 , MUMBAI FOR THE A.Y. 2014 - 15 IN THE MATTER OF OR DER PASSED U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT, THE ACT). 2. IN THIS APPEAL, THE ASSESSEE IS AGGRIEVED FOR ADOPTING ALV AT 7% IN RESPECT OF INDUSTRIAL SHED. 3. RIVAL CONTENTIONS HAVE BEEN HEARD AND RECORD PERUSED. THE FACTS IN BRIEF ARE THAT THE ASSESSEE IS OWNING A HOUSE PROPERTY I TA NO. 264 /MUM / 20 1 9 MRS. KARINA CHANDUR MORIANI VS CIT(A) 2 SITUATED AT VISHAL COOPERATIVE HOUSING SOCIETY AT ANAND NAGAR AND AN INDUSTRIAL SHED SITUATED AT GALA AT VAKOLA, SANTACRUZ EAST, MUMBAI. WHILE FRAMING THE ASSESSMENT, THE A.O. ADDED 7% OF THE INDUSTRIAL GALA AS ALV I N ASSESSEES INCOME. IT WAS CONTENTION OF THE ASSESSEE THAT THE INDUSTRIAL GALA IS NOT A HOUSE PROPERTY AND ONLY ONE HOUSE PROPERTY WAS IN THE FORM OF FLAT SITUATED AT VISHAL COOPERATIVE HOUSING SOCIETY AT ANAND NAGAR. HOWEVER, THE A.O. DID NOT AGREE WITH THE ASSESSEES CONTENTION AND ADDED THE ALV OF INDUSTRIAL GALA IN ASSESSEES HANDS. BY THE IMPUGNED ORDER, THE LD. CIT(A) HAS CONFIRMED THE ACTION OF THE A.O., AGAINST WHICH THE ASSESSEE IS IN FURTHER APPEAL BEFORE THE ITAT. 4. I HAVE CONSIDERED THE RIVAL CONTENTIONS AND CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOUND THAT THE A.O. HAS MADE ADDITION IN RESPECT OF INDUSTRIAL GALA WHICH IS NOT A HOUSE PROPERTY WITHIN THE MEANING OF PROVISIONS OF SECTION 22 AND 23 OF THE ACT , IN SO FAR AS IT WAS MEANT FOR USE BY ASSESSEE FOR THE PURPOSE OF HIS BUSINESS . THE INDUSTRIA L GALA WAS USED BY THE ASSES SEE AS HIS BUSINESS ASSET. THE RESIDENTIAL FLAT OWNED BY THE ASSESSEE WAS SITUATED AT VISHAL COOPERATIVE HOUSING SOCIETY AT ANAND NAGAR, SANTAKRUZ. ONE FLAT IS FREE IN THE HANDS OF THE ASSES S EE AND ALV OF WHICH CANNOT BE COMPUTE D U/S.23(4) SINCE IT WAS K EPT FOR USE BY THE I TA NO. 264 /MUM / 20 1 9 MRS. KARINA CHANDUR MORIANI VS CIT(A) 3 ASSESSEE FOR HIS OWN RESIDENCE. ACCORDINGLY, THERE IS NO MERIT IN THE ORDERS OF THE LOWER AUTHORITIES. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 2 8 TH JANUARY, 2020 . SD/ - (R.C.SHARMA) ACCOUNTANT MEMBER MUMBAI; DATED 28 /01/2020 *RANJAN COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD F ILE. //TRUE COPY//