ACIT CIR 16(2), MUMBAI V. NAV DARYA MAHAL CO. OP. HSG SOCIETY LTD, MUMBAI

ITA 8980/MUM/2010

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9522 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-11-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 29-11-2012
• Assessment Year: 2004-2005
• Appeal Filed On: 23-12-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: G S PILALE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B, MUMBAI BEFORE SHRI I.P.BANSAL,JUDICIAL MEMBER & SHRI SANJAY ARORA, ACCOUNTANT MEMBER ITA NO. 8980/MUM/2010(A.Y. 2004-05) THE ACIT 16(2), MATRU MANDIR, TARDEO ROAD, MUMBAI - 400 007. (APPELLANT) VS. M/S. NAV DARYA MAHAL CO-OP. HOUSING SOCIETY LTD., 80, NEPEAN SEA ROAD, MUMBAI - 400 006. PAN:AAATN 3892 (RESPONDENT) APPELLANT BY : SHRI MOHIT JAIN RESPONDENT BY : SHRI G.S.PILALE DATE OF HEARING : 29/11/2012 DATE OF PRONOUNCEMENT : 2 9/11/2012 ORDER PER I.P.BANSAL, J.M THIS IS AN APPEAL FILED BY THE REVENUE. IT IS D IRECTED AGAINST THE ORDER PASSED BY LD. CIT(A)-27,MUMBAI DATED 3/9/2010 FOR A SSESSMENT YEAR 2004- 05. THE GROUNDS OF APPEAL READ AS UNDER: 1. THE LD.CIT(A) ERRED IN DELETING THE ADDITION OF RS.11,04,500/- MADE ON ACCOUNT OF TRANSFER FEES FOLLOWING THE DECISION OF HONBLE HIGH COURT OF BOMBAY IN THE ASSESSEE S OWN CASE FOR THE A. Y. 19 99-2000 TO 2001 -02 WHEREIN IT HAS BEEN HELD THAT ALL AMOUNTS RECEIVED BY THE CHS ON THE GROUNDS OF TRANSFER CHARGES ARE EXEMPT UNDER THE PR INCIPLE OF MUTUALITY. THE DECISION HAS NOT BEEN ACCEPTED BY 2. THE LD. CIT(A} ERRED DELETING THE ADDITION OF RS .39,292/- MADE ON ACCOUNT OF INCOME RECEIVED TOWARDS LEAVE AND LIC ENCE CHARGES, RELYING ON THE DECISION OF HONBLE HIGH COURT OF BOMBAY IN THE CASE OF SUPRABHAT CO-OP. HOUSING SOCIETY. THE DECISION HAS NOT BEEN A CCEPTED BY THE DEPARTMENT AND THE ISSUE IS SUB-JUDICE. ITA NO. 8980/MUM/2010(A.Y. 2004-05) 2 2. AN AMOUNT OF RS.11,04,500/- WAS RECEIVED BY THE ASSESSEE ON ACCOUNT OF TRANSFER FEE AND AN AMOUNT OF RS. 39,292/- WAS REC EIVED AS LEAVE AND LICENCE CHARGES. REFERRING TO THE DECISION OF HONBLE HIGH COURT IN ASSESSEES OWN CASE FOR ASSESSMENT YEARS 1999-2000 TO 2001-02 IN ITA NOS. 1 439, 1440 &1441 OF 2007 DATED 4/9/2009, LD. CIT(A) HAS DECIDED THIS ISSUE IN FAVO UR OF THE ASSESSEE. THE COPY OF THE SAID DECISION OF HONBLE HIGH COURT IS ALSO PLACED ON OUR RECORD. THE ISSUES HAS BEEN DECIDED IN FAVOUR OF ASSESSEE BY FOLLOWING THE EARL IER DECISION RENDERED IN THE CASE OF SIND CO-OPERATIVE HOUSING SOCIETY (2009) 317 ITR 47 (BOM). THESE RECEIPTS WERE HELD EXEMPTED UNDER THE PRINCIPLE OF MUTUALITY. AS THE ISSUE HAS BEEN DECIDED IN FAVOUR OF ASSESSEE BY LD. CIT(A) FOLLOWING THE DECISION OF HO NBLE JURISDICTIONAL HIGH COURT IN ASSESSEES OWN CASE, WE FIND NO INFIRMITY IN THE OR DER PASSED BY LD. CIT(A). THEREFORE, APPEAL FILED BY THE REVENUE IS DISMISSED BEING DE VOID OF MERITS. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 29 TH DAY OF NOV. 2012 SD/- SD/- (SANJAY ARORA ) (I.P.BANSAL) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 29 TH NOV. 2012 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CITY CONCERNED 4. THE CIT(A)- CONCERNED 5. THE D.R B BENCH. (TRUE COPY) BY ORDER ASST. REGISTRAR, I TAT, MUMBAI BENCHES MUMBAI. VM.