DDIT (IT) 1(2), MUMBAI V. COLONIAL FIRST STATE INVESTMENT LTD, MUMBAI

ITA 7045/MUM/2010

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9220 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 19-12-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 11-10-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI . . !'# , $ %& BEFORE SHRI H.L. KARWA, PRESIDENT AND SHRI N.K. BILLAIYA, AM ./I.T.A. NO.7045/MUM/2010 ( ' ' ' ' / ASSESSMENT YEAR : 2007-08 THE ACIT (IT)-1(2), 119, SCINDIA HOUSE, BALLARD PIER, MUMBAI-400 038 / VS. COLONIAL FIRST STATE INVESTMENT LTD. AS RESPONSIBLE ENTITY FOR THE COMMONWEALTH SPECIALIST FUND 4, C/O, PRICEWATERHOUSE COOPERS (P) LTD. PWC HOUSE, PLOT 18/A, GURUNANAK ROAD, BANDRA(W), MUMBAI-400 050 &( $ ./ )* ./PAN/GIR NO.AAATC 5667R ( (+ /APPELLANT ) .. ( ,-(+ / RESPONDENT ) (+ . / APPELLANT BY: SHRI RAKESH RANJAN ,-(+ / . / RESPONDENT BY SHRI PARAG A VYAS / 01$ / DATE OF HEARING :19.12.2012 23' / 01$ /DATE OF PRONOUNCEMENT :19.12.2012 %4 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-10, MUMBAI DT.26.7.2010 PERTAINING TO A.Y. 2 007-08. ITA NO. 7045/MUM/2010 2 2. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASSE SSEE SUBMITTED THAT TAX AFTER GIVING EFFECT TO THE ORDER OF THE LD. CIT (A) IS NIL. THEREFORE THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AS PER CBDT INSTRUCTION NO. 5/2008 DT. 15.5.2006. 3. WE HAVE CAREFULLY PERUSED THE ASSESSMENT ORDER A ND THE ORDER OF THE LD. CIT(A) AND ALSO THE CHART SUBMITTED BY THE ASSESSEE EXPLAINING THE TAX EFFECT. 4. THE LD. DEPARTMENTAL REPRESENTATIVE COULD NOT CO NTROVERT THE SUBMISSION OF THE AO THAT THERE BEING NO TAX AFTER THE APPELLATE ORDER. IN THE LIGHT OF THE ABOVE AND FOLLOWING THE INSTRUCTIO N OF THE CBDT (SUPRA), THE APPEAL IS DISMISSED AS NOT MAINTAINABLE. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. 5 06 )& / 7 $5) / )0 8' ORDER PRONOUNCED IN THE OPEN COURT ON 19.12.2012 %4 / 3' $ 7 9%6 19.12.2012 3 / : SD/- SD/- (H.L. KARWA) (N.K. BILLAIYA) /PRESIDENT $ %& / ACCOUNTANT MEMBER MUMBAI; 9% DATED 19.12.2012 . . ./ RJ , SR. PS ITA NO. 7045/MUM/2010 3 %4 / ,0 ; '0 / COPY OF THE ORDER FORWARDED TO : 1. (+ / THE APPELLANT 2. ,-(+ / THE RESPONDENT. 3. < ( ) / THE CIT(A)- 4. < / CIT 5. =: ,0 , , / DR, ITAT, MUMBAI 6. :> ? / GUARD FILE. %4 / BY ORDER, - 0 ,0 //TRUE COPY// @ / 8 ) DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI