SATYEN B DALAL, MUMBAI V. ITO RG 16(2)(4), MUMBAI

ITA 2700/MUM/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0383 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-08-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 16-05-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 21-04-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K RAVIKIRAN
• Section: 143(3); 54

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH E MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) ITA NO. 2700/MUM/2014 ASSESSMENT YEAR: 2007 - 08 SATYEN B. DALAL BHUPEN CHAMBERS, GROUND FLOOR, DALAL STREET FORT, MUMBAI - 400023. VS. ITO - 16(2)(4) 2 ND FLOOR, MATRU MANDIR, TARDEO ROAD MUMBAI - 400007 . PAN NO. AACPD0426F ASSESSEE BY : NONE REVENUE BY: SHRI K. RAVI KIRAN , DR DATE OF HEARING : 1 6 /05/2017 DATE OF PRONOUNCEMENT: 10/08/2017 ORDER PER N.K. PRADHAN, A.M . THIS IS AN APPEAL FILED BY THE ASSESSEE. THE RELEVANT ASSESSMENT YEAR IS 2007 - 08 . THE APPEAL IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 27 , MUMBAI AND ARISES OUT OF THE ASSESSMENT COMPLETED U/S 143(3) R.W.S 147 OF THE INCOME TAX ACT 1961, (THE ACT). 2. THE GROUNDS OF APPEAL FILED BY THE ASSESSEE READ AS UNDER: - 1. ON FACTS AND IN LAW, THE CIT(A) - 40 FAILED TO APPRECIATE THAT REASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER WAS BAD IN LAW ITA NO. 2700/MUM/2014 2 AND THEREBY ERRED IN NOT DIRECTING THE AO TO CANCEL THE REASSESSMENT COMPLETED. 2. ON FACTS AND IN LAW, THE CIT(A) ERRE D IN CONFIRMING THE ACTION OF THE AO IN NOT ALLOWING EXEMPTION UNDER SECTION 54 OF THE INCOME TAX ACT, 1961. 3. WE FIND THAT THE ASSESSEE HAS FILED A PETITION DATED 2 ND MAY 2017 REQUESTING TO ALLOW HIM TO WITHDRAW THE PRESENT APPEAL. 4. THE LD. DR HAD NO OBJECTION TO THE ABOVE REQUEST MADE BY THE ASSESSEE. 5. IN VIEW OF THE ABOVE FACTS, THE PRESENT APPEAL IS DISMISSED AS WITHDRAWN. 6. IN THE RESULT, THE APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN C OURT ON 10/08/2017 . SD/ - SD/ - (MAHAVIR SI NGH) (N.K. PRADHAN) J UDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED: 10/08/2017 RAHUL SHARMA, SR. P.S. COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE . BY ORDER, ITA NO. 2700/MUM/2014 3 //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI