DIAMONDS 'R' US, MUMBAI V. CIT CEN -III, MUMBAI

ITA 2945/MUM/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2598 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 5 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 16-02-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 17-04-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A K SRIVASTAVA
• Section: 143(3); 263

Judgement Text

, , , , IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BENCH, MUMBAI BENCH, MUMBAI BENCH, MUMBAI BEFORE BEFORE BEFORE BEFORE SHRI SHRI SHRI SHRI SANJAY GARG, SANJAY GARG, SANJAY GARG, SANJAY GARG, JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER AND AND AND AND SHRI SHRI SHRI SHRI ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA, , , , ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ./I.T.A. NO.2945/MUM/2013 ( / / / / ASSESSMENT YEAR : 2008-09) .M/S. DIAMONDS 'R' US, 1110, PRASAD CHAMBERS, OPERA HOUSE, MUMBAI 400004 / VS. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-III, MUMBAI. ( / // / APPELLANT) .. ( / RESPONDENT) ./ ./PAN/GIR NO. : AAAFD4507H / APPELLANT BY SHRI ANUJ KISNADWALA /RESPONDENT BY SHRI A K SRIVASTAVA / DATE OF HEARING : 28.09.2016 /DATE OF PRONOUNCEMENT : 28.09.2016 / O R D E R / O R D E R / O R D E R / O R D E R PER SANJAY GARG, JUDICIAL MEMBER : THE PRESENT APPEAL PREFERRED BY THE ASSESSEE IS AG AINST THE REVISION ORDER PASSED U/S 263 OF THE INCOME TAX ACT, 1961 BY THE COMMISSIONER OF INCOME TAX, DATED 26.3.2013 FOR THE ASSESSMENT YEAR 2008-09. 2. AT THE OUTSET, THE LD. AR HAS STATED THAT PURSUA NT TO THE PASSING OF THE ORDER U/S 263 OF THE ACT, THE AO HAS PASSED OR DER U/S 143(3) ITA NO.2945/MUM/2013 2 R.W.S.263 OF THE ACT AND HAD MADE CERTAIN ADDITIONS . HOWEVER, IN SUBSEQUENT, APPEAL FILED AGAINST THE SAID ORDER PAS SED BY THE AO U/S 143(3) R.W.S.263, THE LD.CIT(A) ALLOWED THE APPEAL OF THE ASSESSEE AND DELETED THE ADDITIONS SO MADE BY THE AO. BEING AGGR IEVED AGAINST THE SAID ORDER OF THE LD.CIT(A) DATED 16.2.2016, THE REVENUE PREFERRED THE APPEAL BEFORE THE TRIBUNAL. THE TRIBUNAL, HOWEVER, AFTE R CONSIDERING THE RELEVANT SUBMISSIONS OF THE PARTIES HAS DISMISSED T HE APPEAL OF THE REVENUE VIDE ORDER DATED 25.7.2016 PASSED IN ITA N O.3241/MUM/2016 (AY-2008-09). THE LD. AR, THEREFORE, HAS STATED TH AT AS ON TODAY, SINCE THE ADDITION MADE BY THE AO IN PURSUANCE TO THE DIR ECTION GIVEN BY THE CIT THROUGH IMPUGNED ORDER STOOD DELETED, HENCE, AT THIS STAGE, THE ISSUE RAISED BY THE ASSESSEE IN THIS APPEAL HAS BEEN REND ERED ACADEMIC IN NATURE AND WILL NOT HAVE ANY BEARING ON THE TAX LI ABILITY OF THE ASSESSEE. HE, HOWEVER, HAS STATED THAT HE RESERVES RIGHT TO A GITATE THE SAME, IN CASE, THE REVENUE SUCCEEDS IN ITS FURTHER APPEAL BE FORE ANY HIGHER FORUM/HONBLE HIGH COURT IN RELATION TO THE ADDITI ONS MADE SUBSEQUENT TO THE PASSING OF THE IMPUGNED ORDER U/S 263 OF THE ACT. HE HAS FURTHER RELIED UPON THE DECISION OF THE TRIBUNAL IN THE CA SE OF ASSESSEE IN ITA NO.2793/MUM/2012(AY-2007-08), ORDER DATED 30.10.201 5, WHEREIN UNDER SIMILAR CIRCUMSTANCES, THE TRIBUNAL HAS HELD THAT ISSUE RAISED AGAINST THE ORDER OF LD. CIT PASSED U/S 263 OF THE ACT GOES A CADEMIC AND THE TRIBUNAL THEREFORE DISMISSED THE APPEAL OF THE ASSE SSEE. ITA NO.2945/MUM/2013 3 IN VIEW OF THE ABOVE, THIS APPEAL OF THE ASSESSEE I S ACCORDINGLY DISMISSED HAVING BECOME INFRUCTUOUS AT THIS STAGE. HOWEVER, ASSESSEE IS AT LIBERTY TO AGITATE THE SAME AS AND WHEN SITUATION ARISES FO R SAME. 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 28 TH SEPT, 2016 . 28 SEPST,2016 SD/ SD/ SD/ SD/- -- - SD/ SD/ SD/ SD/- -- - ( (( (ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA) ) ) ) ( (( (SANJAY GARG SANJAY GARG SANJAY GARG SANJAY GARG) ) ) ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI: 28 SEPT,2016 .../ SRL , SR. PS / COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO : :: : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. () / THE CIT(A)- CONCERNED 4. / CIT CONCERNED 5. ! , , / DR, ITAT, MUMBAI CONCERNED 6. '# / GUARD FILE. / // / BY ORDER, (ASSTT. REGISTRAR) , /ITAT, MUMBAI