AF-TAAB INVESTMENT COMPANY LTD, MUMBAI V. DCIT CIR 6(1), MUMBAI

ITA 7355/MUM/2014

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6717 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 4 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 09-12-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SATISH CHANDRA RAJORE LD
• Assessee Lawyers: HARSH KOTHARILD
• Section: 143(3); 14A; 147

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI . . , , # BEFORE HONBLE SHRI C.N. PRASAD, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM ./ I.T.A. NO.7355/MUM/2014 ( $ $ $ $ %$ %$ %$ %$ / ASSESSMENT YEAR: 2007-08) AF - TAAB INVESTMENT COMPANY L TD. CORPORATE CENTRE, B BLOCK, 34, SANT TUKARAM ROAD CARNAC BUNDER, MUMBAI-400 009 / VS. DCIT - CIRCLE - 6(1) ROOM NO.506, 5 TH FLOOR, AAYKAR BHAVAN, M. K. ROAD, MUMBAI-400020 & ./ ./PAN/GIR NO. AAACA-4800-H ( &( /APPELLANT ) : ( )&( / RESPONDENT ) ASSESSEE BY : SHRI HARSH KOTHARI-LD. AR REVENUE BY : SHRI SATISH CHANDRA RAJORE - LD.DR * +, / DATE OF HEARING : 01/05/2019 % * +, / DATE OF PRONOUNCEMENT : 06/05/2019 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2007-08 CONTEST THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS)-14, MUMBAI [CIT(A)], APPEAL NO. CIT(A)-14/DCIT-6(1)/IT-114/2013-14 D ATED 15/09/2014 ON CERTAIN GROUNDS OF APPEAL. 2.1 THE LD. AUTHORIZED REPRESENTATIVE FOR ASSESSEE [AR], AT THE OUTSET, DRAWING OUR ATTENTION TO LETTER DATED 30/04 /2019, SUBMITTED THAT 2 HAVING REGARD TO EVENTS WHICH HAVE TRANSPIRED SUBSE QUENT TO THE FILING OF THE APPEAL, THE APPEAL HAS BECOME INFRUCTUOUS. 2.2 EXPLAINING THE SAME, LD. AR SUBMITTED THAT THE ORIGINAL ASSESSMENT WAS COMPLETED U/S 143(3) WHEREIN DISALLO WANCE U/S 14A WAS COMPUTED AT RS.717.77 LACS AS AGAINST RS.371.45 LACS SUO-MOTO OFFERED BY THE ASSESSEE. THE LD. CIT(A) DIRECTED LD . AO TO RECOMPUTE THE DISALLOWANCE ON REASONABLE BASIS. THE STAND OF LD. CIT(A) WAS AGITATED BY THE REVENUE BEFORE THIS TRIBUNAL VIDE I TA NO. 1812/MUM/2011. 2.3 IN THE MEANTIME, LD. AO GAVE EFFECT TO THE LD. CIT(A)S ORDER WHILE PASSING AN ORDER U/S 147 AND DISALLOWED RS.569.50 L ACS U/S 14A GIVING A RELIEF OF RS.148.27 LACS. NO OTHER DISALLOWANCE W AS MADE U/S 147. THE ASSESSEE FILED THE PRESENT APPEAL AGAINST THE S AID ORDER OF LD. AO SEEKING FURTHER RELIEF ON DISALLOWANCE MADE U/S 14A . 2.4 IN THE MEANTIME, THE TRIBUNAL, IN DEPARTMENTS APPEAL ITA NO. 1812/MUM/2011 VIDE ORDER DATED 16/11/2017 GAVE CERT AIN DIRECTIONS AND RESTORED THE MATTER BACK TO LD. AO. IN THE SET ASID E PROCEEDINGS, THE LD. AO HAS DELETED THE ENTIRE ADDITIONAL DISALLOWANCE A ND THEREFORE, IN THE ABOVE BACKGROUND, THE PRESENT APPEAL HAS BECOME INFRUCTUOUS. 2.5 THE LD. DR RAISED NO SERIOUS OBJECTION TO DISMI SSAL OF APPEAL. 3. IN VIEW OF THE SUBMISSIONS, THE APPEAL STANDS DI SMISSED AS INFRUCTUOUS. ORDER PRONOUNCED IN THE OPEN COURT ON 06 TH MAY, 2019. SD/- SD/- (C.N. PRASAD) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / 3 / MUMBAI; DATED : 06/05/2019 PS : SHEKHAR , SR.PS: JAISY VARGHESE / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI 6. #$% / GUARD FILE / BY ORDER, / / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.