ITO 3(1)(3), MUMBAI v. CHARISHMA INVESTMENTS P. LTD, MUMBAI

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES C MUMBAI BEFORE SHRI. R.K. GUPTA (J.M.) AND SHRI. B. RAMAKOT AIAH (A.M.) ITA NO.2564/MUM/2009 ASSESSMENT YEAR : 2003-2004 INCOME TAX OFFICER 3(1)(3) RM. NO.666 AAYAKAR BHAVAN M.K. MARG MUMBAI 400 020. VS. CHARISHMA INVESTMENTS PVT. LTD. 84-A MITTAL COURT NARIMAN POINT MUMBAI 400 021. PAN : AAACC1531B (APPLICANT) (RESPONDENT) APPLICANT BY : SHRI. R.K. SAHU. RESPONDENT BY : MS. AMISHA GANDHI. O R D E R PER R.K. GUPTA J.M. THIS IS AN APPEAL FILED BY THE DEPARTMENT AGAINST T HE ORDER OF THE LEARNED CIT(A)-III MUMBAI RELATES TO ASSESSMENT YE AR 2003-2004. 2. THE LEARNED COUNSEL OF THE ASSESSEE WHO APPEARED BEFORE TRIBUNAL STATED THAT THE APPEAL FILED BY DEPARTMENT IS AGAIN ST THE CIT (A) ORDER WHICH WAS DECIDED ON BASIS OF ASSESSMENT ORDER PASSED IN CONSEQUENT TO THE ORDER UNDER SECTION 263 OF THE ACT PASSED BY CIT. IT WAS FURTHER SUBMITTED THAT ASSESSEE FILED THE APPEAL BEFORE THE TRIBUNAL AGAINST THE ORDER PASSED U/S.263 DATED 17.03.2008. IT WAS SU BMITTED THAT SINCE THE ORDER CIT HAS BEEN QUASHED BY THE TRIBUNAL; THEREFO RE THE ASSESSMENT ORDER PASSED IN CONSEQUENT TO THE ORDER U/S.263 DOES NOT SURVIVE NOW. ACCORDINGLY APPEAL OF THE DEPARTMENT IS LIABLE TO BE DISMISSED AS BECOME INFRACTUAS IN NATURE. THE LEARNED D.R. CONSENTED THE CONTENTION OF THE LEARNED A.R. 3. IN VIEW OF THE ABOVE FACTS AND CIRCUMSTANCES WE DISMISS THE APPEAL OF THE DEPARTMENT WHICH HAS BECOME INFRUCTUOUS IN NATU RE FOR THE REASON THAT ITA NO.4909/MUM/2006 A.Y.: 2001-2002 2 FRESH ASSESSMENT WAS COMPLETED BY THE ASSESSING OFF ICER IN CONSEQUENT TO THE ORDER OF THE CIT PASSED U/S.263 OF THE ACT. ORDER U/S.263 HAS BEEN CANCELLED BY THE TRIBUNAL THEREFORE ORDER PASSED IN CONSEQUENCE TO THE ORDER U/S.263 DOES NOT SURVIVE NOW. WE ORDER ACCORDINGL Y. 4. IN THE RESULT APPEAL OF THE DEPARTMENT IS DISMI SSED. ORDER PRONOUNCED ON THIS DAY OF 21 ST JANUARY 2010. SD/- (B. RAMAKOTAIAH) ACCOUNTANT MEMBER SD/- (R.K. GUPTA) JUDICIAL MEMBER MUMBAI DATED 21 ST JANUARY 2010. 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 A MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR ITAT MUMBAI ITA NO.4909/MUM/2006 A.Y.: 2001-2002 3 DATE INITIALS 1. DRAFT DICTATED ON 15-01-10 PS 2. DRAFT PLACED BEFORE AUTHOR 16-01-10 PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER AM/JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/J M 5. APPROVED DRAFT COMES TO THE SR. PS PS 6. KEPT FOR PRONOUNCEMENT ON PS 7. FILE SENT TO THE BENCH CLERK PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER