ACIT,CIRCLE 8(3)(1), MUMBAI V. URBAN INFRASTRUCTURE HOLDING PVT. LTD., MUMBAI

ITA 4113/MUM/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 4146 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Appeal Filed On: 05-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJEEV GUBGOB R A
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH F , MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN , HON'BLE ACCOUNTANT MEMBER ITA NO. 4113 /MUM/201 7 (A.Y: 2007 - 08) A.C.I.T CIRCLE 8( 3)(1) ROOM NO. 615, 6 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400 020 V. M/S. URBAN INFRASTRUCTURE HOLDING (P.) LTD., 1 ST FLOOR, JAI CENTRE, 34 PD MELLO ROAD, OPP. RED GATE, MUMBAI 400 009 PAN: AAJCS 2680 L (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI MADHUR AGARWAL DEPARTMENT BY : SHRI RAJEEV GUBGOB R A DATE OF HEARING : 25.10.2018 DATE OF PRONOUNCEMENT : 30 . 10 .2018 O R D E R PER C. N. PRASAD (JM) 1. THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) 14, MUMBAI [HEREINAFTER IN SHORT LD.CIT(A)] DATED 20.03.2017 F OR THE ASSESSMENT YEAR 2007 - 08. 2. IN THIS APPEAL THE REVENUE CHALLENGED THE ORDER OF T HE LD.CIT(A) IN RESTRICTING THE DISALLOWANCE U/S. 14A OF THE ACT TO THE DIVIDEND INCOME EARNED BY THE ASSESSEE. 2 ITA NO.4113/MUM/2017 (A.Y: 2007 - 08) M/S. URBAN INFRASTRUCTURE HOLDING (P.) LTD., 3. LD. DR VEHEMENT LY PLACED RELIANCE ON THE ORDER OF THE ASSESSING OFFICER WHEREAS THE LD. COUNSEL FOR THE ASSESSEE RELIED ON THE ORDER OF THE LD.C IT(A). 4. WE HAVE PERUSED THE ORDER OF THE LD.CIT(A) AND FIND THAT THE DISALLOWANCE U/S. 14A OF THE ACT WAS RESTRICTED TO THE DIVIDEND INCOME EARNED BY THE ASSESSEE FOLLOWING THE DECISION OF THE HON'BLE JURISDICTIONAL TRIBUNAL IN THE CASE OF DAGA GLOBAL CHEMI CALS (P.) LTD. IN ITA.NO 5592 /MUM/2012 DATED 01/01/2015 . THIS BENCH IS CONSISTENTLY HOLDING THAT THE DISALLOWANCE U/S. 14A OF THE ACT IF ANY SHALL BE RESTRICTED TO THE DIVIDEND INCOME EARNED BY THE ASSESSEE. THE DECISION OF THE LD.CIT(A) IS IN TUNE WITH THE CONSISTENT VIEW OF THIS TRIBUNAL. HENCE , WE DO NOT FIND ANY INFIRMITY IN THE ORDER PASSED BY THE LD.CIT(A). 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 30 TH OCTOBER, 2018 SD/ - SD/ - ( N.K. PRADHAN ) (C.N. PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI / DATED 30 / 10 / 2018 GIRIDHAR , SR . PS 3 ITA NO.4113/MUM/2017 (A.Y: 2007 - 08) M/S. URBAN INFRASTRUCTURE HOLDING (P.) LTD., COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY// BY ORDER (ASSTT. REGISTRAR) ITAT, MUM