SAIF ALI MANSOOR ALI KHAN PATAUDI, MUMBAI V. ACIT 16(1), MUMBAI

ITA 7152/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5238 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 10 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2014-2015
• Appeal Filed On: 20-11-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: K K LALKAKA
• Section: 143(3); 143(1); 143(2)

Judgement Text

ITA NO. 7152/MUM/2019 A.Y. 2014 - 15 SAIF ALI MANSOOR ALI KHAN PATAUDI. VS. ACIT 16(1) 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH H MUMBAI BEFORE SHRI SHAMIM YAHYA (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 7152 / MUM/2019 (ASSESSMENT YEAR: 2014 - 15 ) SAIF ALI MANSOOR ALI KHAN PATAUDI, 1001, FORTUNE HEIGHTS, 29 TH ROAD, BANDRA (WEST), MUMBAI - 400050 PAN NO. AAHPK0520E VS. ASST. COMMISSIONER OF INCOME TAX 16(1), ROOM NO. 439, 4 TH FLOOR, AAYAKAR BHAVAN, MUMBAI - 400020 ( ASSESSEE ) ( REVENUE ) ASSESSEE BY : SHRI K.K. LALKAKA , ( A R ) REVENUE BY : SHRI NEERAJ KUMAR (D R ) DATE OF HEARING : 07 /09 /2021 D ATE OF PRONOUNCEMENT : 20 /0 9 /2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 4 , MUMBAI [ FOR SHORT CIT (A) ] , DATED 30.10.2019, WHICH IN TURN ARISES FROM THE ASSESSMENT ORDER PASSED BY THE A.O U/S 143(3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT ) DATED 28.12.2016 FOR A . Y 2014 - 15. 2. THE ASSESSEE HAS ASSAILED THE IMPUGNE D ORDER ON THE FOLLOWING SOLITARY GROUND BEFORE US: ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LEARNED CIT(A) HAS ERRED IN HOLDING THAT THE INCOME FROM RESIDENTIAL FLAT AT HICON IN BANDRA BE ASSESSED AT ANNUAL VALUE OF RS. 11,83,723/ - ALTHOUGH ADMITTEDLY THE RESIDENTIAL FLAT WAS VACANT THROUGHOUT THE YEAR ITA NO. 7152/MUM/2019 A.Y. 2014 - 15 SAIF ALI MANSOOR ALI KHAN PATAUDI. VS. ACIT 16(1) 2 AND CONSEQUENTLY YOUR APPELLANT WAS ENTITLED TO BENEFIT OF VACANCY ALLOWANCE U/S 23(1)(C) OF THE IN COME TAX ACT. 3 . BRIEFLY STATED, THE ASSESSEE WHO IS A FILM ARTIST HAD E - FILED HIS RETURN OF INCOME FOR A.Y 2014 - 15 ON 27.09.2014, DECLARING AN INCOME OF RS. 50,03,46,220/ - . THE RETURN OF INCOME WAS INITIALLY PROCESSED AS SUCH UNDER SEC. 143(1) OF THE AC T. SUBSEQUENTLY, THE CASE OF THE ASSESSEE WAS SELECTED FOR SCRUTINY ASSESSMENT UNDER SEC. 143(2) OF THE ACT. ASSESSMENT WAS THEREAFTER FRAMED BY THE A . O VIDE HIS ORDER PASSED U/S 143(3) OF THE ACT, DATED 28.12.2016 , WHEREIN AFTER INTER ALIA ASSESSING THE ANNUAL LETT ABLE VALUE (ALV) OF A RESIDENTIAL FLAT OWNED BY THE ASSESSEE IN HICONS SOCIETY , BANDRA AT RS. 81,08,802/ - HIS INCOME WAS DETERMINED AT RS. 50,61,50,590/ - . 4 . AGGRIEVED, THE ASSESSEE ASSAILED THE ASSESSMENT ORDER BEFORE THE CIT(A) . O BSERVING THAT A SIMILAR ISSUE HAD CAME UP IN THE ASSESSEES OWN CASE FOR A . Y 2011 - 12 , THE CIT(A) FOLLOWED THE VIEW THAT WAS TAKEN BY HIS PREDECESSOR VIDE HIS ORDER PASSED IN APPEAL NO. 263 /A/ 3/ACIT 11(1)(1)/ 2014 - 15 , DATED 28.05. 2019. BACK ED BY HIS AFORESAID VIEW, THE ADDITION THAT WAS MADE QUA THE ALV OF THE AFOREMENTIONED PROPERTY VIZ. RESIDENTIAL FLAT IN HICON SOCIETY , BANDRA , WAS SCALED DOWN BY THE CIT(A) TO AN AMOUNT OF RS. 11,83,723/ - . 5 . THE ASSESSEE BEING AGGRIEVED WITH THE ORDER OF THE. CIT(A) HAS CARRIED THE MATTER IN APPEAL BEFORE US. THE LD. AUTHORI Z ED REPRESENTATIVE (FOR SHOR T A . R) FOR THE ASSESSEE SHRI K.K. LALKAKA AFTER ARGUING THE MATTER FOR SOME TIME , SUBMITTED , THAT LIBERTY BE GRANTED TO WITHDR AW THE AFORESAID APPEAL. 6 . PER CONTRA, THE LD. DEPARTMENTAL REPRESENTATIVE (FOR SHORT D . R) DID NOT RAISE ANY OBJECTION TO THE SEEKING OF WITHDRAWAL OF THE APPEAL BY THE ASSESSEE S COUNSEL . 7 . AFTER CULMINATION OF THE HEARING OF THE APPEAL THE ASSESSEE S COUNSEL HAD PLACED ON RECORD A LETTER DATED 07.09.2021 , WHEREIN HE HAD REQUESTED THAT THE INTIMATION OF WITHDRAWAL OF APPEAL BE TAKEN ON RECORD. ITA NO. 7152/MUM/2019 A.Y. 2014 - 15 SAIF ALI MANSOOR ALI KHAN PATAUDI. VS. ACIT 16(1) 3 8 . IN THE BACKDROP OF THE AFORESAID REQUEST OF THE LD. A . R THAT LIBERTY BE GRANTED TO WITHDRAW THE PRESENT APPEAL, WHICH AS OBSERVED BY US HEREINABOVE HAD NOT BEEN OBJECTED BY THE LD. D . R, WE HEREIN PERMIT THE SAME. 9 . RESULTANTLY, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. O RDER PRON OUNCED IN THE OPEN COURT ON 20 /09/2021. SD/ - SD/ - ( SHAMIM YAHYA ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 20 .09 .2021 ALINDRA, PS COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (SR. PRIVATE SECRETARY) ITAT, MUMBAI