DCIT 1(1)(2), MUMBAI V. FGP LTD, MUMBAI

ITA 4862/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0675 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-05-2017
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 21-07-2016
• Court: TRIBUNAL
• Department Lawyers: POOJA SWAROOP
• Keywords: Business income; Depreciation

Judgement Text

' IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH H , MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR , ACCOUNTANT MEMBER ITA NO. 4862 /MUM/201 6 , (A.Y : 20 10 - 11 ) DCIT - 1(1)(2) 579, AAYAKAR BHAWAN M.K ROAD MUMBAI 400 020 VS. M/S FGP LTD COMMERCIAL UNION HOUSE 9, WALLACE STREET FORT, MUMBAI 400 001 PAN : AAACF1671M ( / APPELLANT) ( / RESPONDENT) / APPELLANT BY : MS.POOJA SWAROOP / RE SPONDENT BY : SHRI DHAVAL SHAH / DATE OF HEARING : 1 . 3 . 2017 / DATE OF PRONOUNCEMENT : 12 . 5 . 2017 / O R D E R P ER C.N.PRASAD (JM) THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD.CIT(APPEALS) - 2, MUMBAI DATED 28.04.2016 FOR THE ASSESSMENT YEAR 2010 - 11. 2. THE LD. COUNSEL FOR THE ASSESSEE SUBMITS THAT THE MAIN ISSUE IN THE APPEAL OF THE REVENUE IS WHETHER THE RENTAL INCOME EARNED BY THE ASSESSEE SHOULD BE ASSESSED AS BUSINESS INCOME OR INCOME FROM OTHER SOURCES AND THIS ISSUE IS SQUARELY COVERED IN ASSESSEE S OWN CASE FOR THE ASSESSMENT YEARS 2003 - 04 TO 2009 - 10. COPIES OF THE ORDERS OF THE TRIBUNAL WERE PLACED 2 ITA NO. 4862 /MUM/201 6 (A.Y.20 10 - 11 ) M/S FGP LTD. BEFORE US. THE LD. COUNSEL FOR THE ASSESSEE SUBMITS THAT DISALLOWANCE OF EMPLOYEE COST WHICH THE LD.CIT(APPEALS) DELETED IS ALSO DECIDED BY THE TRIBU NAL FOR THE ASSESSMENT YEAR 2008 - 09. DISALLOWANCE OF DEPRECIATION ON PLANT AND MACHINERY AND ADMINISTRATIVE EXPENSES I.E. PAYMENT TO AUDITORS, INCOME TAX CONSULTANT, SERVICE TAX CONSULTANT, LEGAL CONSULTANT ETC. WAS ALSO DECIDED BY THE TRIBUNAL FOR THE ASSESSMENT YEAR 2009 - 10. 3. THE LD. DR FAIRLY SUBMITTED THAT THE ISSUES ARE COVERED IN FAVOUR OF THE ASSESSEE BY THE ORDER OF THE COORDINATE BENCH IN ASSESSEES OWN CASE FOR VARIOUS ASSESSMENT YEARS FROM 2003 - 04 TO 2009 - 10. 4. WE HAVE PERUSED THE ORDERS OF THE COORDINATE BENCH AND FIND THAT ISSUES IN GROUND NOS. A, C & D ARE DECIDED IN FAVOUR OF THE ASSESSEE BY ORDERS OF THE COORDINATE BENCH IN LATEST IN ITA NO.3474/MUM/2016 DATED 18.1.2017 FOR THE ASSESSMENT YEAR 2009 - 10. IN RESPECT OF THE EMPLOYEE COST, WE FIND THAT THE ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE IN ITA NO.6872/MUM/2011 DATED 27.11.2012 FOR THE ASSESSMENT YEAR 2008 - 09. THEREFORE , RESPECTFULLY FOLLOWING THE SAID ORDERS, WE DISMISS THE APPEAL OF THE REVENUE. 5 . IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THE 12 TH DAY OF MAY 2017 . SD/ - SD/ - ( RAMIT KOCHAR ) ( C.N.PRASAD ) / / ACCOUNTANT MEMBER JUDICIAL MEMBER / MUMBAI; / DATED 12 . 5 . 2017 LR, SPS 3 ITA NO. 4862 /MUM/201 6 (A.Y.20 10 - 11 ) M/S FGP LTD. / COPY OF THE ORDER FORWARDED TO : / BY ORDER, (ASSTT. REGISTRAR) , / ITAT, MUM 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. // TRUE COPY / /