WADIA GHANDY & CO., MUMBAI V. ASST CIT CIR 11(3), MUMBAI

ITA 7192/MUM/2011

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 8739 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2006-2007
• Appeal Filed On: 24-10-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AMARD EEP
• Assessee Lawyers: GAUTAM NA YAK
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH G, MUMBAI BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER. I.T.A. NO. 7192 & 7193/MUM/2011 ASSESSMENT YEARS : 2006-07 & 2008-09. WADIA GHANDY & CO., ASSTT. COMMISSIONER OF N.W. WADIA BUILDING, VS . INCOME-TAX, 123, M.G. ROAD, FORT, CIRCLE-11(3), MUMBAI 400020. MUMBAI. PAN AAAFN1081H. APPELLANT. RESPONDENT. APPELLANT BY : SHRI GAUTAM NA YAK. RESP ONDENT BY : SHRI AMAR DEEP. DATE OF HEARING : 27-09-2012 DATE OF PRONOUNCEMENT : 27-09-2012. O R D E R PER P.M. JAGTAP, A.M. : THESE TWO APPEALS FILED BY THE ASSESSEE AGAINST TW O SEPARATE ORDERS OF LEARNED CIT(APPEALS)-2, MUMBAI DATED 07-09-2011 AND 05-09-2011 FOR ASSESSMENT YEARS 2006-07 AND 2008-09 INVOLVE A SOLI TARY COMMON ISSUE RELATING TO THE ASSESSEES CLAIM FOR DEPRECIATION ON TENANCY RI GHTS AND THE SAME, THEREFORE, HAVE BEEN HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS SINGLE COMPOSITE ORDER. 2. THE ASSESSEE IN THE PRESENT CASE IS A PARTNERSHI P FIRM OF ADVOCATES AND SOLICITORS. IT HAD OCCUPIED SECOND FLOOR OF N.M. WA DIA BUILDING AT 123, M.G. ROAD, FORT FOR MANY YEARS. PART OF THE FIRST FLOOR OF THE SAID BUILDING WAS OCCUPIED