TML DISTRIBUTION COMPANY, MUMBAI V. DCIT 1(3)(1), MUMBAI

ITA 7568/MUM/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0244 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 23-12-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUMAN KUMAR LD
• Assessee Lawyers: PRADEEP MITRA LD
• Section: 143(3); 263

Judgement Text

ITA NO 7568/MUM/2016 TML DISTRIBUTION COMPANY LIMITED ASSESSMENT YEAR 2009-10 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI . . , , BEFORE SHRI D.T. GARASIA, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO. 7568/MUM/2016 ( / ASSESSMENT YEAR: 2009-10) TML DISTRIBUTION COMPANY LIMITED (CIN: U63000MH2008PLC180593) 3 RD FLOOR,NANAVATI MAHALAYA 18, HOMI MODY STREET MUMBAI 400 001 / VS. DEPUTY COMMISSIONER OF INCOME TAX 1(3)(1) ROOM NO.540 AAYKAR BHAVAN, M.K.ROAD MUMBAI -400 020 ! ./ ./PAN/GIR NO. AACCT-9000-E ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) ASSESSEE BY : PRADEEP MITRA, LD. AR REVENUE BY : SUMAN KUMAR, LD. DR / DATE OF HEARING : 16/08/2017 / DATE OF PRONOUNCEMENT : 18/08/2017 ITA NO 7568/MUM/2016 TML DISTRIBUTION COMPANY LIMITED ASSESSMENT YEAR 2009-10 2 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2009-10 ASSAILS THE ORDER OF LD. COMMISSIONER OF IN COME TAX (APPEALS)-3 [CIT(A)], MUMBAI DATED 14/10/2016 QUA DISALLOWANCE OF PROVISION FOR LEAVE ENCASHMENT FOR RS.4,06,000/-. 2. FACTS IN BRIEF ARE THAT THE ASSESSEE BEING RESIDENT CORPORATE ASSESSEE ENGAGED IN THE BUSINESS OF DISTRIBUTION OF AUTOMOBILE PRODUCTS WAS SUBJECTED TO REVISIONAL JURISDICTION U/S 263 VIDE LD. CIT ORDER DATED 30/03/2014 FOR IMPUGNED AY AND CONSEQUENTLY ASSESSE D AT A LOSS OF RS.8,15,45,343/- IN AN ASSESSMENT U/S 143(3) READ WITH SECTION 263 AS AGAINST LOSS OF RS.8,19,51,343/- DETERMINED U/S 143 (3) ON 26/12/2011. THE ASSESSEE HAS SUFFERED DISALLOWANCE OF RS.4,06,0 00/- AGAINST CERTAIN PROVISION FOR LEAVE ENCASHMENT , WHICH UPON APPEAL, HAS BEEN CONFIRMED BY LD. CIT(A) VIDE IMPUGNED ORDER DATED 14/10/2016. AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE US. 3. AT THE OUTSET, THE LD. COUNSEL FOR ASSESSEE [AR] DREW OUR ATTENTION TO THE FACT THAT SECTION 263 ORDER PASSED BY THE LD . CIT HAS BEEN QUASHED BY THE TRIBUNAL VIDE ITA NO. 3427/MUM/2014 ORDER DATED 13/01/2017 AND THEREFORE, THE CONSEQUENTIAL ASSESSM ENT MADE BY LD. AO DO NOT SURVIVE. A COPY OF THE CITED TRIBUNAL ORD ER HAS BEEN PLACED BEFORE US. THE LD. DR FAIRLY CONCEDED THE SAME. 4. WE HAVE PERUSED THE MATERIAL ON RECORD AND THE C ITED TRIBUNAL ORDER. WE CONCUR WITH THE STAND OF LD. AO THAT SINC E THE REVISIONAL ITA NO 7568/MUM/2016 TML DISTRIBUTION COMPANY LIMITED ASSESSMENT YEAR 2009-10 3 JURISDICTION EXERCISED BY LD. CIT U/S 263 HAS BEEN QUASHED BY THE TRIBUNAL AND THEREFORE, THE CONSEQUENTIAL QUANTUM A SSESSMENT MADE BY LD. AO DOES NOT SURVIVE. THEREFORE, THE ASSESSEES APPEAL BEING INFRUCTUOUS STANDS DISMISSED. 5. RESULTANTLY, THE ASSESSEES APPEAL STANDS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH AUGUST, 2017. SD/- SD/- (D.T. GARASIA) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 18. 08.2017 SR.PS:- THIRUMALESH ! / 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