BHARAT & CO., MUMBAI V. ITO 16(3)(1), MUMBAI

ITA 554/MUM/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2309 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-10-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 04-02-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: APURVA R SHAH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI BEFORE SHRI C. N. PRASAD , JM AND SHRI N. K. PRADHAN , AM ./ I.T.A. NO. 554/MUM/ 2016 ( / ASSESSMENT YEAR: 2011 - 12 ) M/S BHARAT & CO . 511, PANCHRATNA, 14, MAMA PARMANAND MARG, OPERA HOUSE, MUMBAI 400 004 / VS. INCOME - TAX OFFICER, 16(3)(1), INCOME - TAX OFFICE, MATRU MANDIR, ROOM NO. 219, 2 ND FLOOR, TARDEO ROAD, MUMBAI - 400 007 ./ ./ PAN/GIR NO. ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI APURVA R. SHAH / RESPONDENT BY : SHRI RAJESH OJHA / DATE OF HEARING : 20.10.2016 / DATE OF PRONOUNCEMENT : 20 .10.2016 / O R D E R PER N. K. PRADHAN , A. M.: THIS IS AN APPEAL FILED BY THE ASSESSEE. THE RELEVANT ASSESSMENT YEAR IS 2011 - 12. IT IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) - 30, MUMBAI AND ARISES OUT OF THE ORDER U/S. 1 43(3) OF THE INCOME TAX ACT, 1961 (THE ACT). 2. THE GROUND OF APPEAL FILED BY THE ASSESSEE READS AS UNDER: THE COMMISSIONER OF INCOME TAX (APPEALS) - 30, MUMBAI ERRED: - 2 ITA NO. 554/MUM/2016 (A.Y. 2011 - 12) BHARAT & CO. VS. ITO IN NOT HOLDING THAT APPELLANT WAS THE OWNER OF THE PREMISES AT BHARAT DIAMOND BOURS E SINCE 1991 WHEN IT HAD MADE AN APPLICATION FOR THE SAME AND IN ALLOWING INDEXATION ACCORDINGLY. 3. THE LD. COUNSEL OF THE ASSESSEE FILED A WRITTEN SUBMISSION DATED 10.10.2016 S T ATING THAT THE ASSESSEE WOULD LIKE TO WITHDRAW THE APPEAL AND THE SAME MAY BE PERMITTED . 4. IN VIEW OF THE ABOVE WRITTEN SUBMISSION OF THE LD. COUNSEL OF THE ASSESSEE, THE APPEAL IS DISMISSED AS WITHDRAWN. 5. IN THE RESULT, THE ASSESSEES APPEAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON OCTOBER 20 , 201 6 SD/ - SD/ - ( C. N. PRASAD ) ( N. K. PRADHAN ) / J UDICIAL MEMBER / A CCOUNTANT MEMBER MUMBAI ; DATED : 20 . 10 .201 6 . . ./ ROSHANI , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, 3 ITA NO. 554/MUM/2016 (A.Y. 2011 - 12) BHARAT & CO. VS. ITO / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI