SATISH M GUPTA, MUMBAI V. ACIT 19(3), MUMBAI

ITA 353/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3911 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 18-09-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 11-01-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Earning of tax free income
• Section: 14A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI . . , , , , BEFORE SHRI B.R.BASKARAN, AM AND SHRI AMARJIT SINGH, JM / I.T.A. NO.353/MUM/13 ( / ASSESSMENT YEAR: 2009-10) MR. SATISH M. GUPTA C-5, LAXMI TOWERS, C WING, 6 TH FLOOR, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051 / VS. ASSTT. COMMISSIONER OF INCOME TAX 19(3) PIRAMAL CHAMBERS, LALBAUG, MUMBAI - 400013 ./ ./ PAN/GIR NO. : AACPG4590P ( / APPELLANT ) .. ( / RESPONDENT ) / DATE OF HEARING: 07.04.2016 /DATE OF PRONOUNCEMENT: 04.05.2016 / O R D E R PER AMARJIT SINGH, JM: THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 12.10.2012 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-30, MUMBAI [HEREINAFTER REFERRED TO AS THE CIT(A)] RELEVANT TO THE ASSESSMENT YEAR 2009-10. ASSESSEE BY: SHRI NARAYAN ATAL DEPARTMENT BY: SHRI A.K.NAYAK ITA NO.353/MUM/13 A.Y.2009-10 2 2. THE ISSUE INVOLVED IN THIS APPEAL IS DISALLOWANCE MADE U/S. 14A OF THE INCOME TAX ACT, 1961 ( IN SHORT THE ACT). THE LEARNED COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE DID NOT CLAIMED ANY EXPENDITURE AGAINST ANY OF THE INCOME AND HENCE THE QUESTION OF DISALLOWING EXPENDITURE RELATABLE TO THE EXEMPT INCOME AS PROVISIONS OF SECTION 14A OF THE ACT DOES NOT AROSE. 3. ON THE CONTRARY THE LEARNED DR SUBMITTED THAT THE PROVISION OF SECTION 14A SHALL BE APPLICABLE EVEN IF THE ASSESSEE IS NOT CLAIMED ANY EXPENDITURE. 4. WE ARE UNABLE TO ACCEPT THE CONTENTION OF LEARNED DR. THE PROVISION OF SECTION 14A OF THE ACT PREVENTS THE ASSESSEE FROM CLAIMING EXPENDITURE RELATABLE TO THE EXEMPT INCOME AGAINST TAXABLE INCOME. SINCE THE ASSESSEE HAS NOT CLAIMED ANY EXPENDITURE THEREFORE THERE IS MERIT IN THE CONTENTION OF THE ASSESSEE THAT THE PROVISION U/S. 14A OF THE ACT IS NOT APPLICABLE TO THE CASE OF THE ASSESSEE. ACCORDINGLY, THE ORDER PASSED BY THE LEARNED CIT(A) IS SET ASIDE AND THE ASSESSING OFFICER IS DIRECTED TO DELETE THE ADDITIONS MADE U/S. 14A OF THE ACT. 5. IN RESULT THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ITA NO.353/MUM/13 A.Y.2009-10 3 ORDER PRONOUNCED IN THE OPEN COURT ON 4 TH MAY , 2016. SD/- SD/- (B.R.BASKARAN) (AMARJIT SINGH) / ACCOUNTANT MEMBER /JUDICIAL MEMBER MUMBAI; DATED : 4 TH MAY, 2016 MP / 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. / BY ORDER, //TRUE COPY// / /(DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI