DCIT-1(3)(2), MUMBAI V. M/S.THE ZORASTRIAN CO-OPERATIVE BANK LIMITED, MUMBAI

ITA 6238/MUM/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 8021 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2010-2011
• Appeal Filed On: 13-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S ABIRAMA KARTHIKEYAN LD
• Assessee Lawyers: HOMYAR MADAN LD
• Section: 263; 143(3)

Judgement Text

ITA NO.6238/MUM/2017 THE ZORASTRIAN CO-OPERATIVE BANK LIMITED ASSESSMENT YEAR: 2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI , , BEFORE HONBLE SHRI PAWAN SINGH, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO.6238/MUM/2017 ( / ASSESSMENT YEAR: 2010-11) ASST. COMMISSIONER OF INCOME TAX-1(3)(2) ROOM NO. 540 AAYKAR BHAVAN, M.K.ROAD 5 TH FLOOR, CHURCHGATE MUMBAI-20 / VS. THE ZORASTRIAN C O - OP BANK L TD 5 TH FLOOR, NIRLON HOUSE DR. ANNIE BESANT ROAD WORLI MUMBAI -400 030 ./ ./PAN/GIR NO. AAAAZ-0071-B ( /APPELLANT ) : ( !' / RESPONDENT ) ASSESSEE BY : HOMYAR MADAN - LD.AR REVENUE BY : S.ABIRAMA KARTHIKEYAN, LD. DR / DATE OF HEARING : 01/01/2019 / DATE OF PRONOUNCEMENT : 02/01/2019 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR [AY] 2010-11 CONTEST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-3, MUMBAI [CIT(A)], APPEAL NO. CIT(A)-3/IT-85/ITO-1(3)(3)/16-17 DATED 25/07/2017 ON THE GROUND THAT THE LD. CIT WAS NOT C ORRECT IN HOLDING THAT THE APPEAL FILED BY THE ASSESSEE WAS INFRUCTUOUS. ITA NO.6238/MUM/2017 THE ZORASTRIAN CO-OPERATIVE BANK LIMITED ASSESSMENT YEAR: 2010-11 2 2. FACTS IN BRIEF ARE THAT THE ASSESSEE WAS SUBJECT ED TO AN ASSESSMENT U/S 143(3) READ WITH SECTION 263 ON 23/03/2016 WHEREIN THE INCOME OF THE ASSESSEE WAS DETERMINED AT RS.933.82 LACS AFTER CERTAIN ADDITION AS AGAINST ASSESSED INCOME U/S 143(3) FOR RS.465.17 LACS. THE SAID ASSESSMENT GOT TRIGGERED ON ACCOUNT OF EXERCIS E OF REVISIONAL JURISDICTION U/S 263 BY APPROPRIATE AUTHORITY ON 24 /03/2015. 3. AGGRIEVED, THE ASSESSEE AGITATED THE SAME WITH S UCCESS BEFORE LD. CIT (A) VIDE IMPUGNED ORDER DATED 25/07/2017 WH EREIN THE MATTER WAS ADJUDICATED TO HAVE BECOME INFRUCTUOUS IN VIEW OF THE FACT THAT THE REVISIONAL JURISDICTION U/S 263 WHICH TRIGGERED THE ASSESSMENT WAS QUASHED BY THE TRIBUNAL VIDE ITA NO.3028/MUM/2015 O RDER DATED 31/05/2017. AGGRIEVED, THE REVENUE IS IN FURTHER AP PEAL BEFORE US WHERE LD. DR COULD NOT CONTROVERT THE AFORESAID FACT. NOT HING COULD BE BROUGHT ON RECORD TO SUGGEST THAT THE AFORESAID DECISION OF THE TRIBUNAL IS NOT IN OPERATION OR HAS EVER BEEN OVER-RULED BY ANY HIGHER JUDICIAL AUTHORITY. 4. IN VIEW OF ADMITTED POSITION, THE APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 02 ND JANUARY, 2019. SD/- SD/- (PAWAN SINGH) ( MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 02/01/2019 SR.PS:- JAISY VARGHESE !'#' / 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 FILE ITA NO.6238/MUM/2017 THE ZORASTRIAN CO-OPERATIVE BANK LIMITED ASSESSMENT YEAR: 2010-11 3 / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI