DEEPIKA A. MEHTA, MUMBAI V. DCIT CEN CIR 4(1), MUMBAI

ITA 2737/MUM/2017

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 9154 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-10-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 22-06-2017
• Assessment Year: misc
• Appeal Filed On: 17-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR P DANIEL
• Section: 143(3); 234B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM ITA NO. 2737 / MUM/20 17 ( ASSESSMENT YEAR : 2013 - 14 ) MS. DEEPIKA A MEHTA 32, MADHULI, 3 RD FLOOR DR. A.B. ROAD, WORLI MUMBAI - 400 018 VS. DCIT CEN CIR 4(1) AIR INDIA BUIL DING NARIMAN POINT MUMBAI 400 021 PAN/GIR NO. ABNPM8231D APPELLANT ) .. RESPONDENT ) ASSESSEE BY SHRI ASHWIN KASHINATH REVENUE BY DR. P. DANIEL DATE OF HEARING 05 / 10 /201 7 DATE OF PRONOUNCEME NT 16 / 10 /201 7 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED BY ASSESSEE AGAINST THE ORDER OF CIT(A) - 52, MUMBAI DATED 02/02/2017 FOR A.Y.2013 - 14 IN THE MATTER OF ORDER PASSED U/S. 143(3) R.W.S. 147 OF THE IT ACT. 2. IN THIS APPEAL, ASSESSEE IS AGGRIE VED FOR DISALLOWANCE OF INTEREST EXPENDITURE. AT THE OUTSET, LEARNED AR PLACED ON RECORD THE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE AS WELL AS IN THE CASE OF OTHER FAMILY MEMBERS WHEREIN EXACTLY SIMILAR ISSUE WAS DECIDED BY THE TRIBUNAL AND T HE MATTE R WAS RESTORED BACK TO THE FILE OF THE CIT(A) WITH CERTAIN DIRECTIONS . 3. THE LEARNED D R FAIRLY CONCEDED THAT THE ISSUE IS COVERED BY THE ORDER OF THE TRIBUNAL. ITA NO. 2737/MUM/2017 DEEPIKA A MEHTA 2 4 . I HAVE GONE THROUGH THE ORDER OF THE LOWER AUTHORITIES AND FOUND THAT T HIS ISSUE IS IDENTI CAL TO THE ISSUE DECIDED IN THE FOLLOWING CASES WHEREIN THE HON'BLE TRIBUNAL HAS SET ASIDE THE ISSUE TO THE FILE OF THE LD. CIT(A) DEEPIKA MEHTA V. ACIT [ITA NO. 6831/MUM/2013] DATED 21.10.2015 FOR A.Y. 2009 - 10. SUDHIR S. MEHTA V. DCIT [ ITA NO. 2452/MUM/2014] DATED 18.11.2016 FOR A.Y. 1995 - 96. 5 . RESPECTFULLY FOLLOWING THE ORDER OF THE TRIBUNAL THE MATTER IS RES TORED BACK TO THE FILE OF THE CIT(A) WITH THE SAME DIRECTIONS. 6 . NEXT ISSUE IS RELATING TO CHARGING OF INTEREST U/S.234A, 23 4B AND 234C OF THE IT ACT. AS PER LEARNED AR THIS ISSUE IS ALSO COVERED BY THE ORDER OF THE TRIBUNAL. 7 . I HAVE GONE THROUGH THE ORDER OF THE TRIBUNAL AND FOUND THAT THIS ISSUE IS IDENTICAL TO THE ISSUE DECIDED IN THE FOLLOWING CASES WHEREIN THE HON'BLE TR IBUNAL HAS UPHELD THE APPLICABILITY OF INTEREST U/S. 234A, 234B AND 234C IN THE CASE OF NOTIFIED ENTITIES FOLLOWING THE DECISION OF THE HON'BLE BOMBAY HIGH COURT IN THE CASE OF DIVINE HOLDINGS PVT. LTD. AND CASCADE HOLDINGS PVT. LTD. FOR THE PURPOSE OF CAL CULATION, THE HON'BLE TRIBUNAL HAS SET ASIDE THE ISSUE TO THE FILE OF THE ASSESSING OFFICER TO COMPUTE INTEREST LIABILITY AFTER CONSIDERING THE AMOUNT TAXED DEDUCTIBLE AT SOURCE ON THE INCOME ASSESSED. SUDHIR S. MEHTA V. DCIT [ITA NO. 2452/MUM/20 14] DATED 18.11.2016 FOR A.Y. 1995 - 96. DCIT V. RASILA S. MEHTA [ITA NO. 5870/MUM/2011] DATED 21.10.2015 FOR A.Y. 2003 - 04 ITA NO. 2737/MUM/2017 DEEPIKA A MEHTA 3 8 . RESPECTFULLY FOLLOWING THE ABOVE ORDER OF THE TRIBUNAL, THE MATTER IS RESTORED BACK TO THE FILE OF THE AO WITH THE SAME DIRECTION. 9 . IN THE RESULT APPEAL OF ASSESSEE IS ALLOWED IN PART FOR STATISTICAL PURPOSES. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 16 / 10 /2017 S D/ - ( R.C.SHARMA ) ACCOUNTANT MEMBER MUMBAI ; DATE D 16 / 10 /201 7 KARUNA SR. PS 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 FILE. //TRUE COPY//