ITO (E) I(1), MUMBAI v. BOMBAY GOWRAKSHAK MANDALI, MUMBAI

ITA 162/MUM/2017 | 2012-2013
Pronouncement Date: 27-11-2017 | Result: Dismissed

Appeal Details

RSA Number 16219914 RSA 2017
Assessee PAN AAATB3280B
Bench Mumbai
Appeal Number ITA 162/MUM/2017
Duration Of Justice 10 month(s) 21 day(s)
Appellant ITO (E) I(1), MUMBAI
Respondent BOMBAY GOWRAKSHAK MANDALI, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 27-11-2017
Appeal Filed By Department
Tags No record found
Order Result Dismissed
Bench Allotted SMC
Tribunal Order Date 27-11-2017
Assessment Year 2012-2013
Appeal Filed On 06-01-2017
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH MUMBAI BEFORE SHRI R.C.SHARMA AM & SHRI PAWAN SINGH JM ITA NO. 162/ MUM/20 17 ( ASSESSMENT YEAR : 2012 - 13 ) ITO (E)1(1) R.NO.508 PIRAMAL CHAMBERS LALBAUG PAREL MUMBAI - 400012 VS. BOMBAY GOWRAKSHAK MA NDALI 415 - B DALAMAL TOWER 211 NARIMAN POINT FREE PRESS MARG MUMBAI 400 023 PAN/GIR NO. AAATB3280B APPELLANT ) .. RESPONDENT ) ASSESSEE BY SHRI SUMAN KUMAR REVENUE BY MS. I.A. SINGH DATE OF HEARING 13 / 11 /201 7 DATE OF P RONOUNCEME NT 27 / 11 /201 7 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF CIT(A) - 1 MUMBAI DATED 18/10/2016 FOR A.Y.2012 - 13 IN THE MATTER OF ORDER PASSED U/S.143(3) OF THE IT ACT. 2. IN TH IS APPEAL REVENUE IS AGGRIEVED BY THE ACTION OF CIT(A) ALLOWING CLAIM OF DEPRECIATION SETTING OFF OF THE BROUGHT FORWARD DEFICIT OF EARLIER YEARS AND ALLOWING CLAIM OF EXEMPTION OF DIVIDEND U/S.10(35) OF THE IT ACT. 3. AT THE OUTSET LEARNED AR PLACED O N RECORD THE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE WHEREIN GROUND RAISED BY THE REVENUE WAS DECIDED IN FAVOUR OF THE ASSESSEE. ITA NO. 162/MUM/201 7 BOMBAY GOWRAKSHAK MANDALI 2 4. WE HAVE CONSIDERED RIVAL CONTENTIONS AND CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. 5. BRIEFLY T HE FACTS OF THE CASE ARE THAT THE ASSESSEE IS A TRUST REGISTERED WITH DIT (E) MUMBAI U/S 12A DATED 19.08.1975. THE ASSESSEE FILED ITS RETURN OF INCOME ON 28.09.2012 ALONG WITH THE INCOME & EXPENDITURE ACCOUNT BALANCE SHEET AND AUDIT REPORT IN FORM 10B DECLARING TOTAL INCOME AT RS. NIL. HOWEVER THE A.O COMPLETED THE ASSESSMENT VIDE ORDER DATED 10.03.2015 U/S. 143(3) OF THE I.T. ACT 1961 AT TAXABLE INCOME OF RS. L 68 06 405/ - . 6. BY THE IMPUGNED ORDER CIT(A) DELETED THE DISALLOWANCE OF DEPRECIATIO N OF RS.4 13 619/ - ON FIXED ASSETS. 7 . THIS ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE IN ITS OWN CASE BY THE FOLLOWING DECISIONS OF THE MUMBAI BENCH OF THE INCOME - TAX APPELLATE TRIBUNAL ['ITAT'] IN ITA NO. 5508/M/2014 FOR THE ASSESSMENT YEAR 2010 - 2011 IN ITA NO. 5311/MUM/2012 FOR THE ASSESSMENT YEAR 2009 - 10 8. THE CONTRARY DECISIONS REFERRED TO BY THE ASSESSING OFFICER IN GROUND NO.2 OF THE APPEAL HAVE BEEN CONSIDERED AND HELD TO BE NOT APPLICABLE IN A SERIE S OF DECISIONS CITED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 1 - MUMBAI CIT(A). 9. CIT(A) ALSO ALLOWED SETTING OFF OF BROUGHT FORWARD DEFICIT OF EARLIER YEARS AND THE DEFICIT OF EARLIER YEARS TO BE CARRIED FORWARD FOR SETTING OFF IN THE SUBSEQUENT YEARS AFTER HAVING OBSERVATION AT PARA 6.2. ITA NO. 162/MUM/201 7 BOMBAY GOWRAKSHAK MANDALI 3 10. WE FOUND THAT T HIS ISSUE I S COVERED IN FAVOUR O F THE 'ASSESSEE IN ITS OWN CASE BY THE FOLLOWING DECISIONS OF THE MUMBAI BENCH OF THE ITAT: IN ITA NO. 5508/M/2014 FOR ASSESSMENT YEAR 2010 - 2011 IN ITA NO. 5311/MUM/2012 FOR ASS ESSMENT YEAR 2009 - 10 11. THE CIT(A) HAS ALSO ALLOWED CLAIM FOR THE EXEMPTION OF DIVIDEND U/S.10(35). WE FOUND THAT THE ISSUE IS COVERED IN F AVOUR OF THE ASSESSEE BY THE DECISION OF THE JURISDICTIONAL BOMBAY HIGH COURT IN THE CASE OF DIT (EXEMPTION) V/S. JASUBHAI FOUNDATION REPORTED IN [2015] 374 ITR 315 AND THE DECISION OF THE MUMBAI BENCH OF THE TRIBUNAL IN THE CASE OF JAMSETJI TATA TRUST V/S . JDIT (EXEMPTION) REPORTED IN [2014] 44 TAXMANN.COM 447. DECISION OF THE MUMBAI BENCH OF THE INCOME - TAX APPELLATE TRIBUNAL IN THE CASE OF SETH WALCHAND HIRACHAND MEMORIAL TRUST VS. ITO IN ITA NO. 4852/M/2016 . 12. RESPECTFULLY FOLLOWING THE ORDER OF THE TR IBUNAL IN ASSESSEES OWN CASE VIS - - VIS DECISION OF HONBLE BOMBAY HIGH COURT AND OTHER DECISIONS REFERRED ABOVE WE DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER OF CIT(A). 13. IN THE RESULT APPEAL OF THE REVENUE IS DISMISSED. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 27 / 11 / 2017 S D/ - ( PAWAN SINGH ) S D/ - ( R.C.SHARMA ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 27 / 11 /201 7 KARUNA SR. PS ITA NO. 162/MUM/201 7 BOMBAY GOWRAKSHAK MANDALI 4 COPY OF THE ORDER FOR WARDED 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//