MINDSPACE BUSINESS PARKS PVT. LTD, MUMBAI V. DY.CIT CENTRAL CIR-4(2), MUMBAI

ITA 276/MUM/2022

• Counselvise Citation: [2022] 103 COUNSELVISE.COM (IT) 8880 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 06-11-2022
• Assessment Year: 2013-2014
• Appeal Filed On: 10-02-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SMT. KAVITHA RAJAGOPAL, JUDICIAL MEMBER ITA No.276/Mum/2022 (Asse ssment Year :2013-14) Mindspace Business Parks Private Limited Plot No.C-30, Block-G, Raheja Tower, Bandra Kurla Complex Mumbai-400051 Vs. Dy. Commissioner of Income Tax, Central Circle – 4(2) Room No. 1918, Air India Building, Nariman Point Maharashtra-400021 PAN/GIR No.AAHCS8388M (Appellant) .. (Respondent) Assessee by None Revenue by Smt. Mahita Nair Date of Hearing 07/11/2022 Date of Pronouncement 07/11/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No. 276/Mum/2022 for A.Y.2013-14 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-CIT(A) 52, Mumbai in appeal No. CIT(A)52,Mumbai/10266/2019-20 dated 16/12/2021 (ld. CIT(A) in short) against the order of assessment passed 153A r.w.s 143(3)of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 24/12/2019 by the ld. Dy. Commissioner of Income Tax Central Circle 4(2) Mumbai (hereinafter referred to as ld. AO). 2. The ld. AR for the assessee filed a letter dated 04/11/2022 seeking permission for withdrawal of the appeal. The said letter is reproduced hereunder:- ITA No. 276/Mum/2022 M/s. Mindspace Business Parks, Pvt. Ltd, 2 Dear Sir, Ref: Mindspace Business Parks Private limited AY: 2013-14 ITANo:276/MUM/2022 Sub: Request for withdrawal of appeal. In connection with the captioned appeal, we submit as under: 1. We draw Your Honor's kind attention to the hearing scheduled for the captioned appeal on 07.11.2022. 2. In this regard, it is humbly submitted before Your Honors that the relief sought by the appellant in the captioned appeal was twin fold, i.e: • Lease rentals derived from business activity of letting out premises in industrial park ought to be taxed under the head "Profits & Gains from Business & Profession", • Consequently, depreciation on assets be granted from the captioned A.Y. 3. It may kindly be noted that the relief sought in the captioned appeal being in the nature -of depreciation allowance has already been granted to the appellant in appeals of subsequent years; i.e. A.Y. 2015-16 & A.Y. 2016-17 and hence we do not intend to pursue the captioned appeal. 4. In view of the above, we request Your Honors to kindly allow us to withdraw the captioned appeal and oblige. We hope that your Honor will consider our request favorably. 3. In view of the above, the assessee’s appeal is dismissed as withdrawn. 4. In the result, appeal of the assessee is dismissed as withdrawn. Order pronounced in open Court on 07/11/2022. Sd/- (KAVITHA RAJAGOPAL) Sd/- (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 07/11/2022 KARUNA, sr.ps ITA No. 276/Mum/2022 M/s. Mindspace Business Parks, Pvt. Ltd, 3 Copy of the Order forwarded to : BY ORDER, (Sr. Private Secretary / 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//