JAGUAR SERVICES P.LTD, MUMBAI v. DCIT RG 10(2), MUMBAI

ITA 1855/MUM/2010 | 2006-2007
Pronouncement Date: 28-01-2011 | Result: Dismissed

Appeal Details

RSA Number 185519914 RSA 2010
Assessee PAN AAACJ1950H
Bench Mumbai
Appeal Number ITA 1855/MUM/2010
Duration Of Justice 10 month(s) 21 day(s)
Appellant JAGUAR SERVICES P.LTD, MUMBAI
Respondent DCIT RG 10(2), MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 28-01-2011
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted I
Tribunal Order Date 28-01-2011
Assessment Year 2006-2007
Appeal Filed On 09-03-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES I MUMBAI BEFORE SHRI. D.K. AGARWAL (J.M.) AND SHRI T.R. SOOD (A.M.) ITA NO.1855/MUM/2010 ASSESSMENT YEAR : 2006-2007 JAGUAR SERVICES P. LTD. 302 B 3 RD FLR. VINAYAK SIDDHI C 79 D.K. SANDU MARG CHEMBUR MUMBAI 400 071. PAN : AAACJ1950H VS. THE DEPUTY COMMISSIONER OF INCOME-TAX RG.-10(2) AAYAKAR BHAVAN MUMBAI 400 020. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI FALEE H. BILIMORIA RESPONDENT BY : SHRI S.K. SINGH O R D E R PER D.K. AGARWAL J.M. THIS APPEAL PREFERRED BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER DATED 30.12.2009 PASSED BY THE LD CIT(A) FOR TH E ASSESSMENT YEAR 2006-07 TAKING FOLLOWING GROUNDS OF APPEAL: 1. THE LEARNED CIT(A) ERRED IN CONFIRMING THE DISALLOW ANCE U/S.14A OF THE ACT AGGREGATING TO ` 110 631/- TOWARDS THE EARNING OF DIVIDEND INCOME BY RELYING ON CLAUSE2(III) OF R ULE 8D. HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE THE APPELLANT SUBMITS THAT THE ASSESSING OFFICER BE DIRECTED TO D ELETE THE UNWARRANTED AND ARBITRARY DISALLOWANCE. 2. WITHOUT PREJUDICE TO THE FOREGOING GROUND THE LEARNED CIT(A) ERRED IN CONFIRMING THE DISALLOWANCE U/ S.14A R.W.R.8D AT ` 110 631/- AS AGAINST ` 16000/- UNDER THE SAID SUB CLAUSE (I) OF CLAUSE (2) OF RULE 8D AND THE DISALLOWA NCE BE RESTRICTED TO THE SAID AMOUNT. 3. THE LEARNED CIT(A) ERRED IN HOLDING THAT RULE 8 D READ WITH SECTIONS 14A(2) & (3) OF THE ACT CAN BE APPLI ED RETROSPECTIVELY TO THE ASSESSMENT YEAR 2006-07. ITA NO.1855/MUM/2010 ASSESSMENT YEAR : 2006-2007 2 2. AT THE TIME OF HEARING THE LEARNED COUNSEL FOR THE ASSESSEE VIDE LETTER DATED 24.01.2011 INTERALIA SUBMITS AS UNDER: OUR CLIENT HAVE INFORMED US THAT THEY ARE NO LONGE R AGGRIEVED IN THE MATTER AND THEY WISH TO WITHDRAW THE APPEAL FI LED BY THEM. IT WAS THEREFORE SUBMITTED THAT THE ASSESSEE MAY BE ALLO WED TO WITHDRAW THE APPEAL FILED WHICH WAS NOT OBJECTED TO B Y THE LD DR. 3. THAT BEING SO AND IN THE ABSENCE OF ANY OTHER SUPPOR TING MATERIAL PLACED ON RECORD BY THE LD COUNSEL OF THE ASSESSEE THE GROUNDS TAKEN BY THE ASSESSEE ARE THEREFORE REJECTED BE ING NOT PRESSED. 4. IN THE RESULT THE ASSESSEES APPEAL STANDS DISMISSED. ORDER PRONOUNCED ON THIS 28 TH DAY OF JANUARY 2011. SD/- (T.R. SOOD) ACCOUNTANT MEMBER SD/- (D.K. AGARWAL) JUDICIAL MEMBER MUMBAI DATED 28 TH JANUARY 2011. JANHAVI COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS)- MUMBAI 4. COMMISSIONER OF INCOME TAX CITY- MUMBAI 5. DEPARTMENTAL REPRESENTATIVE BENCH MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR ITAT MUMBAI