ITO (IT)-3(1), MUMBAI V. ASHADEVI GOENKA, MUMBAI

ITA 4944/MUM/2011

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 8847 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-09-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: L
• Next Hearing Date: 24-09-2012
• Assessment Year: 2008-2009
• Appeal Filed On: 22-06-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MAEHSH KUMAR

Judgement Text

, , , , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES L, MUMBAI .. , ! '# $% , & !, ' BEFORE SHRI R.S.SYAL, AM AND SHRI AMIT SHUKLA, JM ./ ITA NOS.4942 & 4944/MUM/2011 ( &) * &) * &) * &) * / / / / ASSESSMENT YEARS : 2007-2008 & 2008-2009) THE INCOME TAX OFFICER (INTERNATIONAL TAXATION) MUMBAI. SMT.ASHADEVI GOENKA 5/D, SHANAZ, 90 NAPEAN SEA ROAD MUMBAI 400 006 PAN : AATPG7778E. ( +, / // / APPELLANT) ) ) ) ) / VS. ( -.+,/ RESPONDENT) +, / // / 0 0 0 0 / APPELLANT BY : SHRI MAEHSH KUMAR -.+, / 0 / 0 / 0 / 0 / RESPONDENT BY : SHRI SUNIL HIRAWAT ) / # / / / / DATE OF HEARING : 24.09.2012 12* / # / DATE OF PRONOUNCEMENT : 26.09.2012 !$ !$ !$ !$ / / / / O R D E R PER BENCH THESE TWO APPEALS BY THE REVENUE RELATE TO ASSESSME NT YEARS 2007-2008 AND 2008-2009. SINCE COMMON ISSUES ARE RA ISED IN THESE APPEALS, WE ARE, THEREFORE, PROCEEDING TO DISPOSE T HEM OFF BY THIS CONSOLIDATED ORDER FOR THE SAKE OF CONVENIENCE. 2. THE ONLY ISSUE RAISED IN BOTH THE APPEALS IS AGA INST THE DELETION OF THE ADDITION MADE BY THE ASSESSING OFFICER ON AC COUNT OF SHORT TERM CAPITAL GAIN ON SHARES. 3. AT THE VERY OUTSET THE LEARNED COUNSEL FOR THE A SSESSEE CONTENDED THAT SIMILAR ISSUE WAS THERE IN THE APPEA L BY THE REVENUE FOR THE IMMEDIATELY PRECEDING ASSESSMENT YEAR 2006- 2007. BY ITA NOS.4942 & 4944/MUM/2011 SMT.ASHADEVI GOENKA. 2 PLACING ON RECORD, A COPY OF THE ORDER DATED 11.06. 2010 PASSED IN ITA NO.3565/MUM/2009, THE LEARNED AR CONTENDED THAT THE TRIBUNAL WAS PLEASED TO UPHOLD THE ORDER OF THE LEARNED CIT( A) IN DELETING THE ADDITION MADE BY THE A.O. ON ACCOUNT OF SHORT TERM CAPITAL GAIN FOR THE PRECEDING YEAR. 4. BOTH THE SIDES ARE IN AGREEMENT THAT THE FACTS A ND CIRCUMSTANCES OF THE TWO YEARS UNDER CONSIDERATION ARE MUTATIS MUTANDIS SIMILAR TO THOSE FOR ASSESSMENT YEAR 2006-2007. RESPECTFULLY F OLLOWING THE PRECEDENT, WE UPHOLD THE IMPUGNED ORDER FOR BOTH TH E YEARS. 5. IN THE RESULT, BOTH THE APPEALS STAND DISMISSED. ORDER PRONOUNCED ON THIS 26 TH DAY OF SEPTEMBER, 2012. !$ / 12* 3!)4 2 / 5 SD/- SD/- (AMIT SHUKLA) (R.S.SYAL) & ! & ! & ! & ! / JUDICIAL MEMBER ! ! ! ! / ACCOUNTANT MEMBER MUMBAI ; 3!) DATED : 26 TH SEPTEMBER, 2012. DEVDAS* !$ / -&#'6 76*# !$ / -&#'6 76*# !$ / -&#'6 76*# !$ / -&#'6 76*#/ COPY OF THE ORDER FORWARDED TO : 1. +, / THE APPELLANT 2. -.+, / THE RESPONDENT. 3. 8 () / THE CIT(A)-X, MUMBAI. 4. 8 / CIT 5. 6;5 -&#&) , , / DR, ITAT, MUMBAI 6. 5< = / GUARD FILE. !$) !$) !$) !$) / BY ORDER, .6# -&# //TRUE COPY// > > > >/ // /? @ ? @ ? @ ? @ ( DY./ASSTT. REGISTRAR)