ACIT CIR 18(2), MUMBAI V. PURUSHOTTAM TOWER CO OP. HOUSING SOCIETY LTD, MUMBAI

ITA 3911/MUM/2010

• Counselvise Citation: 391119914 RSA 2010
• Duration Of Justice: 1 year(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2006-2007
• Appeal Filed On: 13-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: L K AGRAWAL
• Assessee Lawyers: M SUBRAMANIAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, C, MUMBAI BEFORE S/SHRI D.K.AGARWAL (JM) AND RAJENDRA SINGH ( A.M ) ITA NO.3911/MUM/2010 (ASSESSMENT YEAR: 2006-07) A.C.I.T, CIRCLE 18(2), ROOM NO.115, 1 ST FLOOR, PIRAMAL CHAMBERS, PAREL, MUMBAI-400012 PURUSHOTTAM TOWERS CO-OPERATIVE HOUSING SOCIETY LTD., 884, OFF GOKHALE ROAD SOUTH, DADAR, MUMBAI-400028 PAN:AAAAP1092L APPELLANT V/S RESPONDENT APPELLANT BY : SHRI L.K.AGRAWAL RESPONDENT BY : SHRI M SUBRAMANIAN O R D E R PER D.K.AGARWAL (JM) THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 10.2.2010 PASSED BY THE LEA RNED COMMISSIONER OF INCOME TAX (A) FOR THE ASSESSMENT Y EAR 2006-07. 2. AT THE TIME OF HEARING IT WAS OBSERVED THAT THE ASSESSMENT WAS COMPLETED AT AN INCOME OF RS.19,50, 000/- AS AGAINST RETURNED INCOME OF RS.13,50,000/-, THU S, MAKING AN ADDITION OF RS.6,00,000/- WHICH IS IN DISPUTE BEFORE US, ON WHICH THE TAX EFFECT, IN THE APPEAL FILED BY TH E REVENUE, WORKS OUT TO LESS THAN RS.2,00,000/-. THE LEARNED D.R. DID NOT DISPUTE ON THE SAID FACTUAL MATRIX OF THE CASE . ITA NO.3911/MUM/2010 (ASSESSMENT YEAR: 2006-07 2 3. THAT BEING SO AND IN TERMS OF RECENT INSTRUCTION NO. 3/2011 [F.NO.279/MISC. 142/2007-ITJ], DATED 9.2.201 1 ISSUED BY THE C.B.D.T., THE DEPARTMENT SHOULD NOT H AVE FILED THE APPEAL. EVEN OTHERWISE, THE ISSUE IS COVERED I N FAVOUR OF THE ASSESSEE BY THE DECISION OF THE TRIBUNAL IN S.SOHAN SINGH V/S INCOME TAX OFFICER (1986) 16 ITD 272 (DEL ), WHEREIN IT HAS BEEN HELD THAT THE LEASE INCOME FROM TERRACE FLOOR BE TAXED AS INCOME FROM HOUSE PROPERTY. ACC ORDINGLY, THE APPEAL FILED BY THE REVENUE IS DISMISSED. 4. IN THE RESULT, THE REVENUES APPEAL STANDS DISM ISSED. ORDER PRONOUNCED ON THIS 20 TH DAY OF MAY, 201 1. SD SD (RAJENDRA SINGH ) (D.K.A GARWAL) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 20 TH MAY, 2011 SRL:13511 COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT CONCERNED 4. CIT(A) CONCERNED 5. DR CONCERNED BENCH 6. GUARD FILED. TRUE COPY BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI