DCIT 4(1)(1), MUMBAI V. EDELWEISS SECURITIES P.LTD, MUMBAI

ITA 5571/MUM/2015

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 9325 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 09-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAVIN KUMAR
• Assessee Lawyers: RAVIKANI S PATHAK
• Section: 143(3); 263

Judgement Text

1 ITA NO.5571/MUM/2015 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH E, MUMBAI BEFORE SHRI JOGINDER SINGH(JUDICIAL MEMBER) AND SHRI G MANJUNATHA (ACCOUNTANT MEMBER) I.T.A NO.5571/MUM/2015 (ASSESSMENT YEAR 2008-09) THE DCIT-4(1)(1), MUMBAI VS M/S EDELWEISS SECURIT IES PVT LTD OFF CST ROAD, KALINA, MUMBAI-400 098 PAN : AAACK3792N APPELLANT RESPONDENT APPELLANT BY SHRI PRAVIN KUMAR RESPONDENT BY SHRI RAVIKANI S PATHAK DATE OF HEARING 14-09-2017 DATE OF PRONOUNCEMENT 20-09-2017 O R D E R PER G MANJUNATHA, AM : THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGA INST THE ORDER OF THE CIT(A)-9, MUMBAI DATED 22-09-2015 AND IT PERTAINS T O AY 2008-09. 2. WHEN THIS APPEAL WAS CALLED UP FOR HEARING, THE LD. AR FOR THE ASSESSEE AT THE OUTSET, SUBMITTED THAT THE APPEAL FILED BY THE REVENUE BECOMES INFRUCTUOUS AND NOT MAINTAINABLE AS THIS APPEAL HAS BEEN FILED AGAINST THE ORDER OF AO PASSED U/S 143(3) R.W.S.263 IN PURSUANC E OF A DIRECTION OF CIT U/S 263 OF THE INCOME-TAX ACT, 1961. THE LD.AR FURTHER SUBMITTED THT THE ITAT, MUMBAI BENCH E IN ITA NO. 4162/MUM/2013 DATED 09- 09-2015 HAS SET ASIDE 2 ITA NO.5571/MUM/2015 THE ORDER PASSED BY THE CIT U/S 263 OF THE ACT AND RESTORED THE ORDER OF THE AO. SINCE THE ORDER PASSED BY THE CIT U/S 263 HAS BEEN QUASHED BY THE ITAT, THE CONSEQUENTIAL ORDER PASSED BY THE AO IN PURSUAN CE OF DIRECTION OF THE CIT U/S 263 BECOMES INFRUCTUOUS AND NOT MAINTAINABLE. THE CIT(A), AFTER CONSIDERING THE RELEVANT FACTS OF THE CASE HAS RIGH TLY ALLOWED THE APPEAL FILED BY THE ASSESSEE. HENCE, WE DISMISS THE APPEAL FILE D BY THE REVENUE AS INFRUCTUOUS. 3. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH SEPTEMBER, 2017. SD/- SD/- (JOGINDER SINGH) (G MANJUNATHA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DT : 20 TH SEPTEMBER, 2017 PK/- COPY TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR /TRUE COPY/ BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI