DCIT (E) 2(1), MUMBAI V. RUSTOMJEE KERAWALA FOUNDATION, MUMBAI

ITA 5391/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 8458 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 01-09-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BEENA SANTOSH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC, MUMBAI BEFORE SHRI R.P.TOLANI, JUDICIAL MEMBER ITA NO.5391/MUM/2016 (ASSESSMENT YEAR 2012-13) THE DCIT (EXEMPTION) 2(1), ROOM NO.519, 5 TH FLOOR, PIRAMAL CHAMBERS, LALBAUG, LOWER PAREL, MUMBAI 400 077 ...... APPELLANT VS. RUSTOMJEE KERAWLA FOUNDATION, P.J. RAMCHANDANI MARG, COLABA, APOLLO BUNDER, MUMBAI 400 039. PAN: AAATR 3480R .... RESPOND ENT APPELLANT BY : MS BEENA SANTOSH RESPONDENT BY : SHRI SATISH R. MODY DATE OF HEARING : 01/02/2016 DATE OF PRONOUNCEMENT : 01/02/2017 ORDER THIS IS REVENUES APPEAL. THE ONLY GROUND RAISED CHALLENGES THE ACTION OF CIT(A) IN ALLOWING CARRY FORWARD OF DEFICIT OF RS.8 ,12,28,425/- TO SUBSEQUENT YEAR ON THE GROUND THAT THERE IS NO EXPRESS PROVISI ON IN THE INCOME TAX ACT IN THIS BEHALF. FURTHER THE DEPARTMENT HAS PREFERRED SLP AGAINST HON'BLE BOMBAY HIGH COURT DECISION IN THE CASE OF INSTITUTE OF BAN KING PERSONNEL SELECTION RELIED ON BY LD. CIT(A). 2. THE LD. DEPARTMENTAL REPRESENTATIVE RELIED UPON THE ORDER OF THE ASSESSING OFFICER. 2 ITA NO.5391/MUM/2016 (ASSESSMENT YEAR 2012-13) ON THE OTHER HAND, LD. REPRESENTATIVE FOR THE ASSES SEE CONTENDS THAT THE ISSUE IN QUESTION HAS ALREADY BEEN DECIDED IN F AVOUR OF THE ASSESSEE BY ITAT IN ITS OWN CASE FOR ASSESSMENT YEAR 2008-09 OR DER DATED 05/10/2015 AND ASSESSMENT YEARS 2010-11 & 2011-12, ORDER DATED 18/ 11/2016 BY OBSERVING AS UNDER:- THIS TRIBUNAL IN THE CASE OF THE ASSESSEE HAS FOLL OWED THE DECISION OF HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. IN STITUTE OF BANKING PERSONNEL SELECTION, 264 ITR 110(BOM). NO CONTRARY DECISION WAS BROUGHT TO MY KNOWLEDGE. IN VIEW OF THIS AND RESPECTFULLY FOLLOWING THE DECISIO N OF THIS TRIBUNAL, I CONFIRM THE ORDER OF CIT(A) AND DISMISS BOTH THE APPEALS OF THE REVENUE. IT IS CONTENDED THAT THE RELIEF HAS BEEN GIVEN BY L D. CIT(A) FOLLOWING THE ORDER OF ITAT IN ASSESSEES OWN CASE, THEREFORE, HI S ORDER CANNOT BE CALLED AS INFIRM MERELY BECAUSE SLP HAS BEEN FILED BY DEPARTM ENT IN SOME OTHER CASE. 3. I HAVE CAREFULLY CONSIDERED THE RIVAL SUBMISSION S AND PERUSED THE MATERIAL ON RECORD. RESPECTFULLY FOLLOWING THE SER IES OF ITAT JUDGMENTS IN ASSESSEES OWN CASE AS MENTIONED ABOVE ALLOWING THE CARRY FORWARD OF DEFICIT TO ASESSEE TRUST , REVENUES GROUNDS ARE DISMISSED. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 01/02/2017 SD/- (R.P.TOLANI) JUDICIAL MEMBER MUMBAI, DATED 01/02/2017 VM , SR. PS 3 ITA NO.5391/MUM/2016 (ASSESSMENT YEAR 2012-13) COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT , 2. THE RESPONDENT. 3. THE CIT(A)- 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI