VIJAN SHARE & SECURITIES P.LTD, MUMBAI V. ACIT CIR 4(2), MUMBAI

ITA 6006/MUM/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 59739 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 25-01-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 02-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V V SHASTRI
• Assessee Lawyers: N H DUTIA
• Section: 14A

Judgement Text

1 ITA 6006/MUM/2010 M/S VIJAN SHARE & SECURITIES P. LTD . IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI F BENCH MUMBAI BENCHES, MUMBAI BEFORE SHRI N.V. VASUDEVAN, J.M. AND SHRI R.K. PAN DA, A.M. ITA NO. 6006/MUM/2010 (ASSESSMENT YEAR 2007-08) M/S VIJAN SHARE & SECURITIES PVT. LIMITED, 301, DEV POOJA, NORTH AVENUE, SANTACRUZ WEST, MUMBAI 400 054. VS ASST. COMMISSIONER OF INCOME-TAX- 12(3), AAYAKAR BHAWAN, MUMBAI. (APPELLANT) (RESPONDENT) PAN NO. AAACV 1558R APPELLANT BY SHRI N.H. DUTIA RESPONDENT BY SHRI V.V. SHASTRI DATE OF HEARING 25.01.2012 DATE OF PRONOUNCEMENT 31.01.2012 ORDER PER R K PANDA, AM THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER DATED 10.06.2010 OF THE CIT (A) - 8, MUMBAI RELATING TO A SSESSMENT YEAR 2007-08. 2. THE ASSESSEE IN ITS ONLY GROUND OF APPEAL HAS CH ALLENGED THE ORDER OF THE LD. CIT(A) IN CONFIRMING THE DISALLOWANCE OF RS . 27,500/- MADE BY THE A.O. U/S 14A OF THE ACT. 2.1 THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET , SUBMITTED THAT THE MATTER REQUIRES TO GO BACK TO THE FILE OF THE A.O. FOR FRESH ADJUDICATION IN THE LIGHT OF THE DECISION OF THE HONBLE BOMBAY HIGH CO URT IN THE CASE OF GODREJ 2 ITA 6006/MUM/2010 M/S VIJAN SHARE & SECURITIES P. LTD . BOYCE MFG. CO. LTD. VS. DCIT REPORTED IN 328 ITR 821(BOM). THE LD. D.R. FAIRLY AGREED FOR THE ABOVE PROPOSITION OF THE LD. COUNSEL FOR THE ASSESSEE. IN VIEW OF THE SUBMISSION MADE BY BOTH THE SIDES, WE R ESTORE THE ISSUE TO THE FILE OF THE A.O. FOR FRESH ADJUDICATION IN THE LIGH T OF THE DECISION CITED SUPRA AND IN ACCORDANCE WITH LAW AFTER GIVING DUE OPPORTU NITY OF BEING HEARD TO THE ASSESSEE. WE HOLD AND DIRECT ACCORDINGLY. THE GROUND RAISED BY THE ASSESSEE IS ACCORDINGLY ALLOWED FOR STATISTICAL PUR POSE. 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED ON 31.01.2012 SD/- (N.V. VASUDEVAN) JUDICIAL MEMBER SD/- ( R K PANDA ) ACCOUNTANT MEMBER PLACE: MUMBAI : DATED: 31.01.2012 RK COPY FORWARDED TO: 1 APPELLANT 2 RESPONDENT 3 CIT (A)-8, MUMBAI 4 CIT - 4 , MUMBAI 5 DR BENCH F 6 MASTER FILE /TRUE COPY/ BY ORDER DY /AR, ITAT, MUMBAI