DCIT 4(1), MUMBAI V. MANGAL CREATIONS P. LTD, MUMBAI

ITA 3614/MUM/2010

• Counselvise Citation: 361419914 RSA 2010
• Duration Of Justice: 1 year(s) 1 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 06-05-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: P C MOURYA
• Assessee Lawyers: NATASHA MANGAT

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 3614/MUM./2010 (ASSESSMENT YEAR : 2006-07 ) DATE OF HEARING: 13.6.2011 DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1), MUMBAI .. APPELLANT V/S M/S. MANGAL CREATIONS PVT. LTD. 77ABC, GOVT. INDUSTRIAL ESTATE CHARKOP, KANDIVALI (W) MUMBAI 400 067 PAN AAACD0541N .... RESPONDENT REVENUE BY : MR. P.C. MOURYA ASSESSEE BY : MS. NATASHA MANGAT O R D E R PER J. SUDHAKAR REDDY, A.M. THIS APPEAL PREFERRED BY ASSESSEE, IS DIRECTED AGAI NST THE IMPUGNED ORDER DATED 10 TH FEBRUARY 2010, PASSED BY THE COMMISSIONER (APPEALS )VIII, MUMBAI, FOR ASSESSMENT YEAR 2006-07. THE SOLE ISSUE THAT ARISES IN THIS CASE IS THE TAXABILITY ON THE AMOUNT RECEIVED ON SALE OF DEPB LICENCE. 2. THE FIRST APPELLATE AUTHORITY GRANTED RELIEF TO THE ASSESSEE BY APPLYING THE DECISION OF MUMBAI SPECIAL BENCH IN TOPMAN EXPO RTS V/S ITO, (2009) 318 ITR (AT) 87 (MUM.) (S.B). AS THE DECISION OF TH E SPECIAL BENCH HAS BEEN PARTIALLY REVERSED BY THE HON'BLE JURISDICTIONAL HI GH COURT IN CIT VS KALPATARU M/S. MANGAL CREATIONS PVT. LTD. ITA NO. 3614/MUM./2010 2 COLOURS & CHEMICALS, (2010) 192 TAXMAN 435 (BOM.), WE, RESPECTFULLY FOLLOWING THE SAME, ALLOW THIS GROUND OF THE REVENUE. 3. IN THE RESULT, REVENUES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 24.6.2011 SD/- D. MANMOHAN VICE PRESIDENT SD/- J. SUDHAKAR REDDY ACCOUNTANT MEMBER MUMBAI, DATED: 24.6.2011 COPY TO : (1) THE ASSESSEE; (2) THE RESPONDENT; (3) THE CIT(A), MUMBAI, CONCERNED; (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, B BENCH, ITAT, MUMBAI. TRUE COPY BY ORDER PRADEEP J. CHOWDHURY ASSISTANT REGISTRAR SR. PRIVATE SECRETARY ITAT, MUMBAI BENCHES, MUMBAI