RUPAM J. PAREKH, MUMBAI V. ASST CIT 12(1), MUMBAI

ITA 3226/MUM/2013

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 9395 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 25-02-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 26-04-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: LOVE KUMAR
• Assessee Lawyers: NIDHI PATEL
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'D' BENCH, MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER ITA NO. 3226/MUM/2013 (ASSESSMENT YEAR: 2008-09) SMT. RUPAM J. PAREKH VS. A C I T - 12(1) FORTUNE BLDG., 3RD FLOOR 568, L.J. ROAD, FIVE GARDEN MATUNGA (E), MUMBAI 400019 AAYAKAR BHAVAN, M.K. ROAD MUMBAI 400020 PAN - AADPP5451H APPELLANT RESPONDENT APPELLANT BY: SHRI NIDHI PATEL RESPONDENT BY: SHRI LOVE KUMAR DATE OF HEARING: 25.02.2015 DATE OF PRONOUNCEMENT: 25.02.2015 O R D E R PER D. MANMOHAN, V.P. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER DATED 04.03.2013 PASSED BY CIT(A)-23, MUMBAI AND IT PERTA INS TO A.Y. 2008-09. 2. THE FOLLOWING GROUNDS WERE URGED BY THE ASSESSEE : - 1. THE COMMISSIONER OF INCOME-TAX (APPEALS) 32, MUMBAI (HEREINAFTER REFERRED TO AS THE CIT(A)) ERRED IN UP HOLDING THE ACTION OF THE ASSISTANT COMMISSIONER OF INCOME-TAX 12(1), MUMBAI (HEREINAFTER REFERRED TO AS THE ASSESSING OFFICER) IN DISALLOWING A SUM OF RS.17,381 ON ACCOUNT OF EXPENSES INCURRED FO R EARNING DIVIDEND INCOME BY INVOKING THE PROVISIONS OF SECTI ON 14A OF THE ACT. 2. THE CIT(A) ERRED IN UPHOLDING THE ACTION OF THE ASSESSING OFFICER IN CONSIDERING LOSS (SHORT-TERM) UNDER THE HEAD CA PITAL GAINS RS 28,56,593 AS BUSINESS LOSS 3. DURING THE COURSE OF HEARING THE LEARNED COUNSEL FOR THE ASSESSEE MOVED AN APPLICATION FOR WITHDRAWAL OF THE APPEAL T O WHICH REVENUE HAS NO ITA NO. 3226/MUM/2013 SMT. RUPAM J. PAREKH 2 OBJECTION. WE, THEREFORE, ALLOW THE ASSESSEE TO WIT HDRAW HER APPEAL. ACCORDINGLY THIS APPEAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH FEBRUARY, 2015. SD/- SD/- ( D. KARUNAKARA RAO ) (D. MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATED: 25 TH FEBRUARY, 2015 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 23, MUMBAI 4. THE CIT 12, MUMBAI CITY 5. THE DR, D BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.