DCIT 14(2), MUMBAI v. TEXPORT SYNDICATE, MUMBAI

ITA 3953/MUM/2009 | 2001-2002
Pronouncement Date: 21-05-2010 | Result: Dismissed

Appeal Details

RSA Number 395319914 RSA 2009
Assessee PAN AAAFT1077A
Bench Mumbai
Appeal Number ITA 3953/MUM/2009
Duration Of Justice 10 month(s) 29 day(s)
Appellant DCIT 14(2), MUMBAI
Respondent TEXPORT SYNDICATE, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 21-05-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted J
Tribunal Order Date 21-05-2010
Assessment Year 2001-2002
Appeal Filed On 22-06-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH J : MUMBAI BEFORE SHRI D.K. AGARWAL (JM) AND SHRI B. RAMAKOT AIAH (AM) ITA NO.3953/MUM/2009 ASSESSMENT YEAR : 2001-02 ASSTT. COMMISSIONER OF INCOME TAX RANGE-14(2) MUMBAI. ..( APPELLANT ) VS. M/S. TEXPORT SYNDICATE 307/309 KALBADEVI ROAD MUMBAI-400 002. ..( RESPONDENT ) P.A. NO. (AAAFT 1077 A) APPELLANT BY : SHRI S.K. PAHWA RESPONDENT BY : SHRI SU MIT AGARWAL (ADJOURNMENT APPLICATION DT . 15.5.2010 NOT PRESSED) O R D E R PER D.K. AGARWAL (JM). THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED AGAIN ST THE ORDER DATED 3.4.2009 PASSED BY THE LD. CIT(A) FOR THE ASSESSMENT YEAR 2001-02. 2. THE REVENUE HAS RAISED FOLLOWING GROUNDS OF APPEAL: 1. THE ORDER OF CIT(A) IS OPPOSED TO LAW AND FAC TS OF THE CASE. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE CIT(A) ERRED IN DIRECTING THE ASSESSING O FFICER TO ALLOW NETTING OFF OF INTEREST OF THE AMOUNTS OF RS.4 09 848/- BEING INTEREST ON STAFF LOAN AND INTE REST ON SALES TAX AND I.T. REFUND WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE HAD NOT PROVED THE NEXUS OF INTER EST OF THE REMAINING AMOUNTS. ITA NO.3953/M/09 A.Y:01-02 2 3. FOR THESE AND OTHER REASONS THAT MAY B E URGED AT THE TIME OF HEARING IT IS REQUESTED THAT THE OR DER OF CIT(A) BE QUASHED AND THAT OF THE ASSESSING OFFICER RESTORED. 3. AT THE TIME OF HEARING IT WAS OBSERVED THAT THE TA X EFFECT ON THE DISPUTED AMOUNT OF RS.4 09 848/- IN THE APPEAL FILED BY THE REVENUE IS LESS THAN RS.2.0 LACS. 4. THAT BEING SO AND IN TERMS OF RECENT INSTRUCTION NO.5 /2008 DATED 15 TH MAY 2008 ISSUED BY THE C.B.D.T. THE DEPARTMENT SHOUL D NOT HAVE FILED THE APPEAL. ACCORDINGLY THE APPEAL FILED BY T HE REVENUE IS DISMISSED. 5. IN THE RESULT REVENUES APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 21.5.2010. SD/- SD/- (B. RAMAKOTAIAH) ( D.K. AGARWAL ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI DATED: 21.5.2010. JV. COPY TO: THE APPELLANT THE RESPONDENT THE CIT CONCERNED MUMBAI THE CIT(A) CONCERNED MUMBAI THE DR BENCH TRUE COPY BY ORDER DY/ASSTT. REGISTRAR ITAT MUMBAI. ITA NO.3953/M/09 A.Y:01-02 3 DETAILS DATE INITIALS DESIGNATION 1 DRAFT DICTATED ON 17.5.10 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 17.5.10 SR.PS/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON 21.5.10 SR.PS/PS 7. FILE SENT TO THE BENCH CLERK 24.5.10 SR.PS/PS 8 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER