DCIT CIR 3(3), MUMBAI V. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI), MUMBAI

ITA 4460/MUM/2012

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 8465 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 6 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 29-07-2015
• Assessment Year: 2002-2003
• Appeal Filed On: 02-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRATAP SINGH
• Assessee Lawyers: ARVIND SONDE
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH E, M UMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NO.4460/MUM/2012 (A Y - 2002-03) ACIT, CIRCLE-3(3), ROOM NO.609, AAYAKAR BHAWAN, M. K. ROAD , MUMBAI- 400020 VS. M/S SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI), C-11, G- BLOCK, SME DEVELOPMENT CENTRE, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI -400051 (APPELLANT) (RESPONDENT) REVENUE BY : SH.PRATAP SINGH CIT-DR ASSESSEE BY : SH. ARVIND SONDE ADVOCATE DATE OF HEARING : 31.01.2017 DATE OF PRONOUNCEMENT : 01.02.2017 ORDER UNDER SECTION 254(1) OF INCOME TAX ACT PER PAWAN SINGH, JM: 1. THIS APPEAL FILED BY REVENUE U/S 253 OF THE INCOME- TAX ACT (THE ACT) IS DIRECTED AGAINST THE ORDER OF CIT(A) - 7 DATED 24.0 2.2012 FOR AY 2002- 03. 2. BRIEF FACTS OF THE CASE ARE REGULAR ASSESSMENT FOR THE RELEVANT AY WAS COMPLETED U/S 143(3) ON 07.12.2004. IN THE REGULAR ASSESSMENT CERTAIN DISALLOWANCE WAS MADE BY AO. ON APPEAL BEFORE LD CI T (A) THE ASSESSEE WAS GRANTED PARTIAL RELIEF VIDE ORDER DATED 18.08.2 006. FURTHER, AGRVIED BY THE ORDER OF CIT(A), THE ASSESSEE FILED APPEAL BEF ORE TRIBUNAL. THE TRIBUNAL VIDE ORDER DATED 15.07.2009 IN ITA 3407/M/ 2009 DECIDED THE APPEAL OF THE ASSESSEE. THE AO PASSED THE ORDER GIV ING EFFECT OF ITAT ORDER ON 22.02.2010 (U/S 143(3) R.W.S.254). AGAINST GIVING EFFECT THE ASSESSEE AGAIN FILED APPEAL BEFORE CIT(A). THE LD C IT (A) DECIDED THE ITA NO4460/M/2012 M/S SMALL INDUSTRIAL DEVELOPME NT BANK OF INDIA 2 SAID APPEAL VIDE HIS ORDER DATED 24.02.2012, WHEREI N PARTIAL RELIEF WAS GRANTED TO THE ASSESSEE. HENCE, FURTHER AGGRIEVED B Y THE ORDER OF CIT(A) DATED 24.02.2012 THE REVENUE HAS FILED THIS APPEAL BEFORE US. 3. TODAY, WHEN THIS APPEAL WAS TAKEN UP FOR HEARING , SH. ARVIND SONDE LD ADVOCATE FOR THE ASSESSEE SUBMITTED THAT THE ORDER OF TRIBUNAL DATED 15/07/2009 IN ITA NO. 3407/M/2009 HAS BEEN SET-ASID E BY THE HONBLE BOMBAY HIGH COURT VIDE ORDER DATED 7 TH DECEMBER 2010 IN INCOME TAX APPEAL NO. 4322OF 2009. THE HONBLE HIGH COURT HAS DIRECTED THE TRIBUNAL TO DECIDE THE APPEAL OF THE ASSESSEE AFRES H; HENCE, THIS APPEAL FILED BY THE REVENUE HAS BECOME INFRUCTUOUS. SH. SO NDE HAS PLACED ON RECORD THE COPY OF ORDER DATED 7 TH DECEMBER 2010 PASSED BY HIGH COURT. THE LD CIT-DR NOT DISPUTED THE FACTUAL POSITION BRO UGHT IN OUR NOTICE. 4. CONSIDERING THE FACT THAT THE ORDER OF THE TRIBUNAL DATED 15/07/2009 IN ITA NO. 3407/M/2009 HAS ALREADY BEEN SET-ASIDE BY T HE HONBLE BOMBAY HIGH COURT VIDE ORDER DATED 7 TH DECEMBER 2010 IN INCOME TAX APPEAL NO. 4322 OF 2009, HENCE, THE APPEAL FILED BY THE REVENU E IS DISMISSED AS INFRUCTUOUS. 5. IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN CO URT ON 1 ST FEBRUARY 2017. SD/- SD/- (B.R. BASKARAN) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED 01/02/2017 S.K.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/