MARIGOLD IMPEX, MUMBAI V. ASST CIT CIR 17(3), MUMBAI

ITA 7683/MUM/2011

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 8460 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 11 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-11-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2002-2003
• Appeal Filed On: 14-11-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUMAN KUMAR LD
• Section: 143(3); 80HHC; 260A

Judgement Text

ITA.NO.7683/MUM/2011 MARIGOLD IMPEX ASSESSMENT YEAR-2002-03 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.7683/MUM/2011 ( / ASSESSMENT YEAR: 2002-03) MARIGOLD IMPEX 13,D.P.WADI, MARWADI CHAWL OPP KAPRESHWAR, MAHADEVTEMPLE GHODAPDEV MUMBAI-400 033 / VS. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 17(3) PIRAMAL CHAMBERS LALBAUG MUMBAI ! ./ ./PAN/GIR NO. AAAFM-1680-Q ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) A SSESSEE BY : NONE RE VENUE BY : SUMAN KUMAR, LD. SR.DR / DATE OF HEARING : 30/10/2017 / DATE OF PRONOUNCEMENT : 08/11 /2017 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2002-03 ASSAILS THE ORDER OF THE LD. COMMISSIONER O F INCOME-TAX (APPEALS)-29 [CIT(A)], MUMBAI, APPEAL NO. CIT(A)-29/RG-17/237/10-11 DATED 26/08/2011. THE ASSESSMENT FOR IMPUGNED AY WAS FRAMED BY LD. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-17(3), MUMBAI [AO] U/S ITA.NO.7683/MUM/2011 MARIGOLD IMPEX ASSESSMENT YEAR-2002-03 2 143(3) READ WITH SECTION 254 & 260A OF THE INCOME T AX ACT, 1961 ON 30/12/2010. NONE HAS APPEARED FOR ASSESSEE DESPITE BEING PROVIDED WITH MANY OPPORTUNITIES OF BEING HEARD. LEFT WITH N O OPTION, WE PROCEED TO DISPOSE-OFF THE SAME ON THE BASIS OF MATERIAL AV AILABLE ON RECORD AND AFTER HEARING LD. DEPARTMENTAL REPRESENTATIVE [DR]. THE LD. DR HAS PLACED RELIANCE ON THE STAND OF LD.CIT(A) AND CONTE NDED THAT THE ISSUE STOOD COVERED AGAINST THE ASSESSEE BY THE JUDGMENT OF HONBLE BOMBAY HIGH COURT. 2. WE HAVE CONSIDERED THE SAME. IT IS OBSERVED THAT THE ISSUE UNDER APPEAL IS ADMISSIBILITY OF DEDUCTION U/S 80HHC ON S ALE OF DEPB LICENSE. THE ISSUE, IN FIRST ROUND OF APPEAL, WAS RESTORED T O THE FILE OF LD. AO, BY THIS TRIBUNAL WITH CERTAIN DIRECTIONS. HOWEVER, LD. AO DECIDED THE ISSUE AGAINST THE ASSESSEE BY FOLLOWING JUDGMENT OF HONB LE BOMBAY HIGH COURT IN ASSESSEES OWN CASE FOR AY 2002-03 & 2003- 04. THE ACTION OF LD. AO HAS SINCE BEEN CONFIRMED BY LD. CIT(A) VIDE IMPUGNED ORDER DATED 26/08/2011. 3. IN VIEW OF THE ABOVE, WE FIND NO REASON TO INTER FERE WITH THE STAND OF LD. CIT(A) SINCE IT HAS ALREADY BEEN NOTED BY LO WER AUTHORITY THAT THE ISSUE STOOD COVERED AGAINST THE ASSESSEE IN HIS OWN CASE BY JURISDICTIONAL HIGH COURT. NOTHING CONTRARY IS AVAI LABLE ON RECORD. 4. RESULTANTLY, THE ASSESSEES APPEAL STANDS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT ON 08 TH NOVEMBER, 2017. SD/- SD/- (D.T. GARASIA) (MANOJ KUMAR AGGARW AL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER ITA.NO.7683/MUM/2011 MARIGOLD IMPEX ASSESSMENT YEAR-2002-03 3 MUMBAI; DATED : 08.11.2017 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