PRAYAGDHAM TRUST, MUMBAI V. ITO (EXEM.) -2(2), MUMBAI

ITA 3470/MUM/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 8532 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-10-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 22-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AWUNGSHI GIMSON
• Section: 143(3)

Judgement Text

P A G E | 1 ITA NOS.3470 - 3471 & 5198/MUM/2018 A.YS.2012 - 13,2013 - 14 & 2014 - 15) SHRI PRAYAGDHAM TRUST VS. CIT(A) - 1 IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE PRESIDENT AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO S.3470 - 3471 & 5198/MUM/2018 (ASSESSMENT YEAR S : 2012 - 13 , 2013 - 14 & 2014 - 15 ) SHRI PRAYAGDHAM TRUST 301 - B, DEV DARSHAN MAHIM, MUMBAI - 12 VS. CIT(A) - 1 R. NO.617, PIRAMAL CHAMBERS, LALBAUG, MUMBAI 12 PAN AAATP0079L (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI YOGESH THAR , A.R RESPONDENT BY: SHRI AWUNGSHI GIMSON , CIT D.R DATE OF HEARING: 03.10 . 2019 DA TE OF PRONOUNCEMENT: 0 7 .10.2019 O R D E R PER RAVISH SOOD, JM THE CAPTIONED APPEALS FILED BY THE ASSESSEE ARE DIRECTED AGAINST THE RESPECTIVE ORDERS PASSED BY THE CIT(A) - 1, MUMBAI, DATED 21.03.2018 FOR A.Y. 2012 - 13, A.Y. 2013 - 14 AND A.Y. 2014 - 15, WHICH IN TURN ARISES FROM THE RESPECTIVE ASSESSMENT S FRAMED FOR THE AFOREMENTIONED YEARS UNDER SEC. 143(3) OF THE INCOME - TAX ACT, 1961 (FOR SHORT ACT) . 2. AT THE VERY OUTSET OF THE HEARING OF THE APPEAL , THE LD. AUTHORIZED REPRESENTATIVE (FOR SHORT A.R) FOR THE ASSESSEE HAD SOUGHT THE PERMISSION OF THE TRIBUNAL FOR WITHDRAWAL OF THE AFORESAID APPEALS. THE LD. A.R HAD PLACED ON RECORD LETTERS DATED 30.09.20 19, WHEREIN THE ASSESSEE HAD SOUGHT LEAVE OF THE TRIBUNAL FOR WITHDRAWING THE CAPTIONED APPEALS. 3. ON A PERUSAL OF THE AFORESAID LETTERS, IT APPEARS THAT THE ASSESSEE SEEKS TO WITHDRAW THE CAPTIONED APPEAL S FOR TWO REASONS, VIZ. (I) THE FILING OF THE APPEAL S WAS BACKED BY A MISCONCEPTION AS REGARDS THE ORDER OF THE CIT(A) PERTAINING TO THE ENTITLEMENT OF THE ASSESSEE P A G E | 2 ITA NOS.3470 - 3471 & 5198/MUM/2018 A.YS.2012 - 13,2013 - 14 & 2014 - 15) SHRI PRAYAGDHAM TRUST VS. CIT(A) - 1 TOWARDS CARRY FORWARD OF UNABSORBED LOSSES; AND (II) THE SMALLNESS OF AMOUNT INVOLVED AS REGARDS THE ISSUE OF NON - ALLOWABILITY OF STANDAR D DEDUCTION UNDER SEC.24(A) OF THE ACT , WHILE COMPUTING THE INCOME UNDER THE HEAD HOUSE PROPERTY. BE THAT AS IT MAY, THE LD. DEPARTMENTAL REPRESENTATIVE (FOR SHORT D.R) DID NOT OBJECT TO THE PERMISSION SOUGHT BY THE ASSESSEE FOR WITHDRAWAL OF THE CAPTI ONED APPEALS. 4. IN THE BACKDROP OF THE AFORESAID FACTS, WE HEREIN PERMIT THE ASSESSEE TO WITHDRAW THE CAPTIONED APPEALS. 5. THE AFORESAID APPEALS OF THE ASSESSEE FOR A.Y. 2012 - 13, ITA NO.3470/MUM/2018, A.Y. 2013 - 14, ITA NO.3471/MUM/2018 AND A.Y. 2014 - 15 , ITA NO.5198/MUM/2018 ARE DISMISSED AS WITHD R AWN. ORDER PRONOUNCED IN THE OPEN COURT ON 0 7 . 10.2019 S D / - S D / - ( PRAMOD KUMAR ) (RAVISH SOOD) VICE PRESIDENT JUDICIAL MEMBER MUMBAI ; 07 .10 .2019 PS. ROHIT / 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 . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI