KAMALPAT R. CHOPRA, MUMBAI V. ITO 16(3)(3), MUMBAI

ITA 7532/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3240 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-05-2016
• Appeal Filed By: Assessee
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 24-12-2013
• Court: TRIBUNAL
• Department Lawyers: ARJU GARODIA
• Keywords: Earning of tax free income

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH , JM ./ ITA NO. 7532 / MUM/20 1 3 ( / ASSESSMENT YEAR : 200 9 - 10 ) SHRI KAMALP AT R. CHOPRA, GW - 6051, BHARAT DIAMOND BOURSE BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400051 VS. ITO - 16(3)(3), MUMBAI ./ ./ PAN/GIR NO. : A AB P C 5342 A ( / APPELLANT ) .. ( / RESPONDENT ) /ASSES SEE BY : SHRI NISHIT GANDHI /REVENUE BY : MS. ARJU GARODIA / DATE OF HEARING : 11 / 0 5 /201 6 / DATE OF PRONOUNCEMENT 27/05 /201 6 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL F ILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) - MUMBAI, DATED 25 - 10 - 2013 , FOR THE ASSESSMENT YEAR 200 9 - 10 . 2 . GROUND NO.1 WAS NOT PRESSED BY LD. AR, THE SAME IS, THEREFORE, DISMISSED IN LIMINE. 3. GROUND NO.2 RELATES TO DISALLOWANCE OF RS.2,38,778/ - U/S.1 4A R/W.8D. 4. IT WAS CONTENDED BY LD. AR THAT NO EXPENDITURE WAS INCURRED FOR EARNING EXEMPT INCOME. OUR ATTENTION WAS INVITED TO THE DETAILS FILED BEFORE THE LOWER AUTHORITIES. 5. WE HAVE CONSIDERED RIVAL CONTENTIONS AND CAREFULLY GONE THROUGH THE ORDERS OF AUTHORITIES BELOW. THE AO HAS NOT POINTED OUT ANY EXPENDITURE HAVING ITA NO. 7532 /13 2 BEEN INCURRED DIRECTLY OR INDIRECTLY IN EARNING EXEMPT INCOME. KEEPING IN VIEW THE FACTS AND CIRCUMSTANCES, WE DO NOT FIND ANY JUSTIFICATION FOR THE DISALLOWANCE SO MADE WHEN NO EXPEND ITURE WAS CLAIMED BY ASSESSEE HAVING BEEN INCURRED FOR EARNING THE EXEMPT INCOME. 6 . IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED IN PART . O RDER PRONOUNCED IN THE OPEN COURT ON THIS 27/05 / 201 6 . SD/ - ( AMARJIT SINGH ) SD/ - ( R.C.SHARMA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 27/05 /201 6 . . /PKM , . / PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / ( ASSTT. REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. //TRUE COPY//