DCIT 5(2), MUMBAI V. OM SHIPPING AGENCIES P.LTD, MUMBAI

ITA 6202/MUM/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 59840 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 13-02-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 13-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PARTHASARATHI NAYAK
• Assessee Lawyers: HARI S RAHEJA
• Keywords: Search and seizure

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER, A ND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO. 5765/MUM./2010 (ASSESSMENT YEAR : 2007-08 ) M/S. OM SHIPPING AGENCIES P. LTD. 208, NARAYAN BHAVAN, 82/86 PERIN NARIMAN STREET, FORT MUMBAI 400 001 AAACC0504A .. APPELLANT V/S ASSTT. COMMISSIONER OF INCOME TAX CIRCLE-5(1), AAYAKAR BHAVAN 101, M.K. ROAD, MUMBAI 400 020 .... RESPONDENT ITA NO. 6202/MUM./2010 (ASSESSMENT YEAR : 2007-08 ) ASSTT. COMMISSIONER OF INCOME TAX CIRCLE-5(1), AAYAKAR BHAVAN 101, M.K. ROAD, MUMBAI 400 020 .. APPELLANT V/S M/S. OM SHIPPING AGENCIES P. LTD. 208, NARAYAN BHAVAN, 82/86 PERIN NARIMAN STREET, FORT MUMBAI 400 001 AAACC0504A .... RESPONDENT ASSESSEE BY : MR. HARI S. RAHEJA REVENUE BY : MR. PARTHASARATHI NAYAK DATE OF HEARING 13.02.2012 DATE OF ORDER 22.02.2012 OM SHIPPING AGENCIES PVT. LTD. ITA NO.5765/MUM./2010 ITA NO.6202/MUM./2010 2 O R D E R PER J. SUDHAKAR REDDY, A.M. THESE CROSS APPEAL ARE DIRECTED AGAINST THE IMPUGN ED ORDER DATED 15 TH JUNE 2010, PASSED BY THE COMMISSIONER (APPEALS)-IX, MUMBAI, FOR ASSESSMENT YEAR 2007-08. 2. AFTER HEARING BOTH THE PARTIES, WE FIND THAT THE AS SESSEE AMENDED THE AGREEMENT DATED 3 RD AUGUST 1992. THE FIRST APPELLATE AUTHORITY HELD TH AT THIS AMENDMENT IS VAGUE AND NOT GENUINE. IN OUR CONSIDER ED OPINION, THIS IS OF NO CONSEQUENCE IN VIEW OF THE PRINCIPLES BASED ON W HICH THE TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2005-06, IN ITA NO.16/MUM./2009, ORDER DATED 15 TH JULY 2011, WHEREIN THE CO-ORDINATE BENCH, WHILE SP EAKING THROUGH ONE OF US I.E., THE ACCOUNTANT MEMBER, GRAN TED RELIEF TO THE ASSESSEE ON THE VERY SAME SET OF FACTS.. IN VIEW O F THIS, THE GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED AND THE GROUNDS RAIDED BY THE REVENUE ARE DISMISSED. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED AND REV ENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22.2.2012 SD/- R.S. PADVEKAR JUDICIAL MEMBER SD/- J. SUDHAKAR REDDY ACCOUNTANT MEMBER MUMBAI, DATED: 22 ND FEBRUARY 2012 COPY TO : (1) THE ASSESSEE; (2) THE RESPONDENT; (3) THE CIT(A), MUMBAI, CONCERNED; (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, C BENCH, ITAT, MUMBAI. TRUE COPY BY ORDER PRADEEP J. CHOWDHURY ASSISTANT REGISTRAR SR. PRIVATE SECRETARY ITAT, MUMBAI BENCHES, MUMBAI