ACIT RG 3(3), MUMBAI V. SEA GLIMPSE INVESTMENTS P.LTD, MUMBAI

ITA 6425/MUM/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 88020 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 14-01-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 22-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LOVE KUMAR
• Section: 143(3)

Judgement Text

, , , , , ,, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI SANJAY ARORA, ACCOUNTANT MEMBER ITA NO.6425/MUM/2012 ASSESSMENT YEAR: 2006-07 A.C.I.T. CIRCLE-3(3), ROOM NO.609, 6 TH FLOOR, AAYKAR BHAWAN, M.K.ROAD, MUMBAI-400020 / VS. SEA GLIMP SE INVESTMENT P. LTD. 112-A, RAHEJA CENTRE POINT, OFF-BKC, KALINE, SANTACRUZ(E), MUMBAI - 400098 ( # / REVENUE) ( $%& /ASSESSEE) P.A. NO.AAACS8600H # ' ( ' ( ' ( ' ( / REVENUE BY : SHRI LOVE KUMAR - DR $%& ' ( ' ( ' ( ' ( / // / ASSESSEE BY) SHRI NISHIT GANDHI ' &) / / / / DATE OF HEARING : 14 /01/2015 *+, ' &) / DATE OF PRONOUNCEMENT : 14 /01/2015 DATE OF ORDER : - - - - ' &) / 20 /01/2015 - - - - / / / / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) : THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATE D 23/07/2012 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI , ON THE GROUND WHETHER THE LD. COMMISSIONER OF INCOME T AX (APPEALS) WAS JUSTIFIED IN CANCELING THE ORDER PASS ED BY SEA GLIMPSE INVESTMENT P. LTD. 2 THE ASSESSING OFFICER U/S 143(3) R.W.S 263 OF THE A CT WITHOUT APPRECIATING THE FACT THAT THE ORDER OF THE TRIBUNAL DATED 21/03/2012, RELIED BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS), HAS BEEN CHALLENGED BEFORE THE HONBLE BOMBAY HIGH COURT AND THE SAME IS PENDING. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE, SHRI NITISH GANDHI, AT THE OUTSET, CLAIME D THAT THE ORDER OF THE TRIBUNAL HAS BEEN AFFIRMED BY HONBLE BOMBAY HIGH COURT VIDE ORDER DATED 15/01/2012 (ITA (L) NO.1242 OF 2012). THE COPY OF T HE ORDER FROM HONBLE HIGH COURT WAS PLACED ON RECORD BY THE LD. COUNSEL. THIS FACTUAL MATRIX WAS NOT CONTROVERTED BY SHRI LOVE KUMAR, LD. DR, HOWEVER, H E ADVANCED HIS ARGUMENTS WHICH ARE IDENTICAL TO THE GROUND RAISED. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WITHOUT GOING INTO MUCH DELIBERATION, WE NOTE THAT, SUBSEQU ENT TO ORDER U/S 263, PASSED BY THE LD. COMMISSIONER, T HE ASSESSEE FILED APPEAL BEFORE THE TRIBUNAL, WHEREIN, VIDE ORDER DATED 21/03/2012, THE TRIBUNAL IN ITA NO.3495/MUM/2011 ALLOWED THE APPEAL OF THE ASSESSEE CANCELING THE ORDER OF THE LD. COMMISSIONER, WHICH WAS LATER ON AFFIRMED BY THE HONBLE JURISDICTIONAL HIG H COURT VIDE ORDER DATED 15/01/2013 (ITA (L.) NO.1242 OF 2012). THUS, THE GROUND RAISED BY THE REVENUE THAT THE DEPARTMENT HAS CHALLENGED THE ORDER OF THE SEA GLIMPSE INVESTMENT P. LTD. 3 TRIBUNAL IS AUTOMATICALLY ANSWERED, THEREFORE, THE APPEAL OF THE REVENUE IS DISMISSED. FINALLY THE APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSI ON OF THE HEARING ON 14/01/2015. SD/ - (SANJAY ARORA) SD/ - (JOGINDER SINGH) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; . DATED : 20/01/201 5 F{X~{T? P.S/. .. - ' 0&1 21,& - ' 0&1 21,& - ' 0&1 21,& - ' 0&1 21,&/ COPY OF THE ORDER FORWARDED TO : 1. 34 / THE APPELLANT 2. 0534 / THE RESPONDENT. 3. 6 ( ) / THE CIT, MUMBAI. 4. 6 / CIT(A)- , MUMBAI 5. 189 0& , , / DR, ITAT, MUMBAI 6. 9:$ ; / GUARD FILE. - - - - / BY ORDER, 51& 0& //TRUE COPY// < <<