WADIA GHANDY & CO., MUMBAI V. ASST CIT 16(3), MUMBAI

ITA 7072/MUM/2017

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6389 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-02-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2013-2014
• Appeal Filed On: 13-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation
• Section: 143(3)

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL G BENC H MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA NO. 7072/MUM/2017 FOR (ASSESSMENT YEAR 2013-14) WADIA GHANDY & CO. N.M. BUILDING 2ND FLOOR, M.G. ROAD, MUMBAI-400001 PAN: AAAFW1081H VS. ACIT, 16(3), ROOM NO. 446, 4 TH FLOOR, AAYAKAR BHAWAN, MUMBAI-400020. APPELLANT RESPONDENT APPELLANT BY : SH. MILLIN DATTANI AR RESPONDENT BY : CHAUDHARY ARUN KUMAR SINGH (DR) DATE OF HEARING : 07.02.2019 DATE OF PRONOUNCEMEN T : 07.02.2019 ORDER UNDER SECTION 254(1)OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER; 1. THIS APPEAL BY ASSESSEE IS DIRECTED AGAINST THE ORD ER OF LEARNED COMMISSIONER (APPEALS)- 7, MUMBAI DATED 16 TH OCTOBER 2017, WHICH IN TURN ARISES FROM ASSESSMENT ORDER DATED 03 RD MARCH 2016 PASSED UNDER SECTION 143(3) FOR ASSESSMENT YEAR 2013-14. THE ASS ESSEE HAS RAISED FOLLOWING GROUNDS OF APPEAL; (1) THE LEARNED COMMISSIONER (APPEALS) WAS NOT JUSTIFIE D IN CONFIRMING ASSESSING OFFICER SECTION OF DISALLOWANCE OF DEPREC IATION ON TENANCY RIGHTS OF RS. 3,62,768 /- (2) THE LEARNED COMMISSIONER (APPEALS) FAILED TO APPRE CIATE THE TENANCY RIGHT WAS A FORM OF LICENSE. ITA NO. 7072/M/2017 WADIA GHANDY & CO. 2 2. BRIEF FACTS OF THE CASE ARE THAT ASSESSEE COMPANY I S ENGAGED IN THE BUSINESS OF AND PROFESSION OF ADVOCATES, SOLICITOR AND NOTAR IES, FILED ITS RETURN OF INCOME FOR RELEVANT ASSESSMENT YEAR ON 30 NOVEMBER 2013 DECLARING TOTAL INCOME AT RS. 283420230/-. THE RETURN OF INCOME WAS SELECTED FOR SCRUTINY AND THE ASSESSMENT WAS COMPLETED UNDER SECTION 143( 3) ON 03 TH MARCH 2016. THE ASSESSING OFFICER WHILE PASSING THE ASSES SMENT ORDER DISALLOWED THE CLAIM OF DEPRECIATION ON TENANCY RIGHT OF RS. 3 62768. ON APPEAL BEFORE COMMISSIONER (APPEALS) THE ACTION OF ASSESSING OFFI CER WAS CONFIRMED. THUS, AGGRIEVED BY THE ORDER OF COMMISSIONER (APPEA LS) THE REVENUE HAS FILED PRESENT APPEAL BEFORE THIS TRIBUNAL. 3. AT THE OUTSET OF HEARING THE LEARNED AR OF THE ASSE SSEE SUBMITS THAT THE GROUNDS OF APPEAL RAISED BY ASSESSEE IS COVERED IN FAVOUR OF REVENUE AND AGAINST THE ASSESSEE BY THE DECISION OF TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 11-12. THE LEARNED AR OF THE ASSESS EE ALSO FURNISHED THE COPY OF DECISION OF TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2011- 12 IN ITA NO. 2835/MUMBAI/2016 DATED 1 ST MARCH 2018. 4. ON THE OTHER HAND THE LEARNED DR FOR THE REVENUE AF TER GOING THROUGH THE DECISION OF SUBMITS THAT THE GROUND OF APPEAL RAISE D BY THE ASSESSEE IS COVERED AGAINST THE ASSESSEE IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2011- 12. THE LD DR PRAYED FOR DISMISSAL OF THE APP EAL OF THE ASSESSEE. 5. WE HAVE CONSIDERED THE SUBMISSION OF LEARNED AUTHOR ISED OF ASSESSEE AND THE LEARNED DR FOR THE REVENUE AND ALSO CAREFULLY P ERUSED THE ORDER OF ITA NO. 7072/M/2017 WADIA GHANDY & CO. 3 AUTHORITIES BELOW. WE HAVE NOTED THAT SIMILAR DISAL LOWANCE WAS MADE BY ASSESSING OFFICER AGAINST THE ASSESSEE IN ASSESSMEN T FOR ASSESSMENT YEAR 2011 -12, ON APPEAL BEFORE COMMISSIONER (APPEALS) T HE ACTION OF ASSESSING OFFICER WAS CONFIRMED AND ON FURTHER APPEAL BEFORE TRIBUNAL THE ISSUE WAS DECIDED AGAINST THE ASSESSEE BY FOLLOWING THE DECIS ION OF PRECEDING ASSESSMENT YEARS VIDE ITA NO. 2835/MUMBAI/2016 DATE D 1 ST MARCH 2018 THEREFORE, CONSIDERING THE CONTENTION OF LEARNED AR OF THE ASSESSEE AND THE DECISION OF TRIBUNAL IN ASSESSEES OWN CASE IN PRE CEDING YEAR IN WHICH WAS FOLLOWED IN ASSESSMENT YEAR 2011-1210 IN ITA NO. 2 835/MUMBAI/2016 DATED 1 ST MARCH 2018. HENCE, WE DO NOT FIND ANY MERITS IN TH E GROUNDS OF APPEAL RAISED BY THE ASSESSEE. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 07/02/2019 . SD/ SD/ - MANOJ KUMAR AGGARWAL PAWAN SINGH ACCOUNTANT MEMBER JUDICIAL MEMB ER MUMBAI, DATE: 07 .02.2019 SK COPY OF THE ORDER FORWARDED TO : 1. ASSESSEE 2. RESPONDENT 3. THE CONCERNED CIT (A) 4. THE CONCERNED CIT 5. DR G BENCH, ITAT, MUMBAI 6. GUARD FILE BY ORDER, DY./ASST. REGISTRAR ITAT, MUMBAI