MAYA ENTERTAINMENT LTD, MUMBAI V. ASST CIT 16(1), MUMBAI

ITA 4932/MUM/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 9818 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 29-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAM TIWARI
• Assessee Lawyers: RUTUJA PAVAR
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH F, MU MBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA NO.4932/MUM/2016 (ASSESSMENT YEAR- 2007-08) M/S MAYA ENTERTAINMENT LTD. 23, SHAH INDUSTRIES ESTATE, OFF. VEERA DESAI ROAD, ANDHERI (W), MUMBAI-400053 PAN:AABCM7192B VS. ASST. CIT-16(1) R. NO. 467, 4 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI-20. (APPELLANT) (RESPONDENT) ASSESSEE BY : MS RUTUJA PAVAR (AR) REVENUE BY : SHRI RAM TIWARI (DR) DATE OF HEARING : 19.03.2018 DATE OF PRONOUNCEMENT : 19.03.2018 ORDER UNDER SECTION 254(1) OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER: 1. THIS APPEAL BY ASSESSEE UNDER SECTION 253 OF INCOME TAX ACT (THE ACT) IS DIRECTED AGAINST THE ORDER OF LD. COMMISSIONER OF I NCOME-TAX (APPEALS)-4, MUMBAI, [FOR SHORT THE LD. CIT(A)] DATED 13.06.2016 FOR ASSESSMENT YEAR 2007-2008 WHICH IN TURN ARISES FROM THE ORDER OF PE NALTY ORDER LEVIED BY ASSESSING OFFICER UNDER SECTION 271(1)(C) OF THE AC T DATED 26.03.2015. 2. AT THE OUTSET OF HEARING, THE LD. AUTHORIZED REPRES ENTATIVE (AR) OF THE ASSESSEE SUBMITS THAT THE GROUNDS OF APPEAL RAISED IN THE PRESENT APPEAL IS COVERED IN FAVOUR OF ASSESSEE AS THE DISALLOWANCES/ ADDITION ON THE BASIS OF WHICH THE PENALTY WAS LEVIED BY ASSESSING OFFICER, HAS BEEN DELETED BY THE TRIBUNAL IN APPEAL ON QUANTUM ASSESSMENT IN ITA NO. 7098/MUM/2013 DATED 28.02.2017. ITA NO. 4932/MUM /2016 - M/S MAYA ENTERTAINMENT LTD. 2 3. ON GOING THROUGH THE ORDER OF TRIBUNAL IN ITA NO. 7 098/MUM/2013 DATED 28.02.2017, THE LD. DEPARTMENTAL REPRESENTATIVE (DR ) FOR THE REVENUE CONCEDED THE ADDITION/DISALLOWANCES ON THE BASIS OF WHICH THE PENALTY WAS LEVIED BY ASSESSING OFFICER HAS BEEN DELETED BY TRI BUNAL. 4. WE HAVE CONSIDERED THE SUBMISSION OF THE PARTIES A ND PERUSED THE ORDER OF PENALTY AND THE ORDER PASSED BY TRIBUNAL IN ITA NO. 7098/MUM/2013 DATED 28.02.2017. WE HAVE NOTED THAT THE TRIBUNAL HAS DEL ETED THE ADDITION/DISALLOWANCES ON ACCOUNT OF DEPRECIATION O F SOFTWARE, DEPRECIATION ON FIXED ASSETS AND PRIOR PERIOD EXPENSES VIDE ORDER D ATED 28.02.2017 IN ITA NO. 7098/MUM/2013. CONSIDERING THE FACT THAT THE ADDITI ON/DISALLOWANCE ON THE BASIS OF WHICH THE PENALTY WAS LEVIED HAS BEEN DELE TED, THE ORDER OF PENALTY PASSED BY ASSESSING OFFICER WOULD NOT SURVIVE. IN T HE RESULT, THE ORDER OF PENALTY UNDER SECTION 271(1)(C) OF THE ACT DATED 26 .03.2015 IS SET-ASIDE. 5. IN THE RESULT, APPEAL FILED BY ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH DAY OF MARCH 2018. SD/- SD/- ( RAJESH KUMAR ) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED 19/03/2018 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. C