RAJESH J ISRANI, MUMBAI V. ITO WD 3(1)(1), MUMBAI

ITA 6304/MUM/2011

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 8734 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 25-10-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 13-09-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: KRISHNAMOORTHY
• Keywords: Capital asset

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'E' BENCH, MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI RAJENDRA, ACCOUNTANT MEMBER ITA NO. 6304/MUM/2011 (ASSESSMENT YEAR: 2006-07) SHRI RAJESH J. ISRANI INCOME TAX OFFICER- 3(1)(1) 151, CASSABLANCA, CUFFE PARADE 6TH FLOOR, AAYAKAR B HAVAN MUMBAI 400005 VS. M.K. ROAD, MUMBAI 400020 PAN - AAAPI 0639 K APPELLANT RESPONDENT APPELLANT BY: NONE RESPONDENT BY: SHRI KRISHNAMOORTHY DATE OF HEARING: 25.10.2012 DATE OF PRONOUNCEMENT: 25.10.2012 O R D E R PER D. MANMOHAN, V.P. THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER DATED 03.05.2011 PASSED BY THE CIT(A)7, MUMBAI AND IT PE RTAINS TO A.Y. 2006-07. 2. THE ONLY GROUND RAISED BY THE ASSESSEE PERTAINS TO DISALLOWANCE OF DEEMED CAPITAL GAINS ARISING FROM THE TRANSFER OF S HORT TERM CAPITAL ASSET UNDER SECTION 50(2). 3. THE ASSESSEE, VIDE LETTER DATED 15 TH OCTOBER, 2012, MOVED AN APPLICATION FOR WITHDRAWAL OF HIS APPEAL TO WHICH R EVENUE HAS NO OBJECTION. WE, THEREFORE, ALLOW ASSESSEE TO WITHDRAW ITS APPEA L. ACCORDINGLY THIS APPEAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH OCTOBER, 2012. SD/- SD/- (RAJENDRA) (D. MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATED: 25 TH OCTOBER, 2012 ITA NO. 6304/MUM/2011 SHRI RAJESH J. ISRANI 2 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 7, MUMBAI 4. THE CIT 3, MUMBAI CITY 5. THE DR, E BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.