DY CIT,CC-2(3), MUMBAI V. AVINASH NIVRUTTI BHOSALE, MUMBAI

ITA 434/MUM/2021

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 7629 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2017-2018
• Appeal Filed On: 29-03-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHAILAJA RAI
• Keywords: Set aside
• Section: 143(3); 153A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA No.434/Mum/2021 (Asse ssment Year :2017-18) & ITA No.435/Mum/2021 (Asse ssment Year :2018-19) DCIT Central Circle-2(3) Room No.803, 8 th Floor Prathishtha Bhavan M.K.Road, Churchgate Mumbai – 400 020 Vs. Shri Avinash Nivrutti Bhosale 2, ABIL House, Ganesh Khind Road Range Hill Corner Pune City, Pune- 411007 PAN/GIR No.ABTPB8151F (Appellant) .. (Respondent) Revenue by Ms. Shailaja Rai Assessee by Shri Vijay Mehta Date of Hearing 22/11/2021 Date of Pronouncement 25/11/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): These appeals in ITA No.434/Mum/2021 & 435/Mum/2021 for A.Y.2017-18 & 2018-19 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-48, Mumbai in appeal No.CIT(A)-48/IT-76/DCCC- 2(3)/2019-20 & CIT(A)-48/IT-76/DCCC-2(3)/2019-20 CIT(A)-48/IT- 75/DCCC-2(3)/2019-20 respectively dated 29/01/2021 (ld. CIT(A) in ITA No.433/Mum/2021 M/s. Avinash Nivrutti Bhosale 2 short) against the order of assessment passed u/s. 153A r.w.s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 29/05/2019 by the ld. Dy. Commissioner of Income Tax, Central Circle- 2(3), Mumbai (hereinafter referred to as ld. AO). As identical issues are involved in both these appeals, they are taken up together and disposed of by this common order for the sake of convenience. 2. The first identical issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in allowing the assessee’s claim of set off of brought forward long term capital loss incurred on sale of listed equity shares on which STT was paid against long term capital gain in the facts and circumstances of the instant case. 3. We have heard rival submissions and perused the materials available on record. Both the parties mutually stated that the very same issue has been already heard by this Tribunal in assessee’s own case for A.Y.2015- 16 in ITA No.123/Mum/2021 and A.Y.2016-17 in ITA No.245/Mum/2021 on 03/11/2021 and the orders are awaited. Both the parties stated that these two appeals may be set aside to the ld. AO with a direction to decide based on the final outcome of the orders passed by this Tribunal for A.Yrs. 2015-16 and 2016-17. In view of this concession given by both the parties, we are remanding these appeals to the file of the ld. AO to decide the dispute in light of the decision rendered by this Tribunal in assessee’s own case for A.Yrs. 2015-16 and 2016-17. Accordingly, the grounds raised by the Revenue for both the years are allowed for statistical purposes. ITA No.433/Mum/2021 M/s. Avinash Nivrutti Bhosale 3 4. In the result, both the appeals of the Revenue are allowed for statistical purposes. Order pronounced on 25/ 11/2021 by way of proper mentioning in the notice board. Sd/- (AMARJIT SINGH) Sd/- (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 25/11/2021 KARUNA, sr.ps Copy of the Order forwarded to : BY ORDER, (Asstt. Registrar) ITAT, Mumbai 1. The Appellant 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy//