ACIT 11(1), MUMBAI v. ETC NETWORK LTD, MUMBAI

ITA 4674/MUM/2010 | 2004-2005
Pronouncement Date: 22-07-2011 | Result: Dismissed

Appeal Details

RSA Number 467419914 RSA 2010
Assessee PAN AAACE6549B
Bench Mumbai
Appeal Number ITA 4674/MUM/2010
Duration Of Justice 1 year(s) 1 month(s) 17 day(s)
Appellant ACIT 11(1), MUMBAI
Respondent ETC NETWORK LTD, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 22-07-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted F
Tribunal Order Date 22-07-2011
Assessment Year 2004-2005
Appeal Filed On 04-06-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH MUMBAI. BEFORE SHRI D.K.AGARWAL JUDICIAL MEMBER AND SHRI PRAMOD KUMAR ACCOUNTANT MEMBER I.T.A NO.4674/ MUM/2010 ASSESSMENT YEAR: 2004-05 ACIT-11(1) .. APPELLANT AAYAKAR BHAVAN M.K. ROAD MUMBAI. VS M/S. ETC NETWORK LTD. . RESPONDEN T 7/B SHAH INDUSTRIAL ESTATE OPP VEERA DESAI ROAD ANDHERI(W) MUMBAI. PA NO.AAACE 6549 B APPEARANCES: P.C.MAURYA FOR THE APPELLANT RAJESH CHAMRIA FOR THE RESPONDENT O R D E R PER PRAMOD KUMAR: 1. BY WAY OF THIS APPEAL THE ASSESSING OFFICER H AS CHALLENGED CORRECTNESS OF CIT(A)S ORDER DATED 25 TH MARCH 2010 IN THE MATTER OF ASSESSMENT UNDER SEC TION 143(3) R.W.S 263 OF THE INCOME TAX ACT 1961 FOR THE ASSESSMENT YEAR 2004-05 ON THE FOLLOWING GROUNDS: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW THE LD CIT(A) ERRED IN DIRECTING TO ALLOW THE CLAIM OF INSURANCE AMOUNT WRITTEN OFF IGNORING THE FACT THAT THE SAME WAS RECEIVABLE AND CAPITAL R ECEIPT AND NOT A REVENUE EXPENDITURE 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E AND IN LAW LD CIT(A) ERRED IN DIRECTING TO ALLOW THE EXPENSES CLAIMED BY THE A SSESSEE U/S.37 OF THE I.T.ACT 2 IGNORING THE FACT THAT THE SAME WAS INCURRED ON AMA LGAMATION AND HENCE THE SAME SHOULD BE ALLOWED U/S.35DD. 2. THE IMPUGNED ASSESSMENT IS FRAMED UNDER SECTION 143(3) R.W.S. 263 OF THE INCOME TAX ACT 1961. HOWEVER AS LEARNED REPRESEN TATIVES FAIRLY AGREE THAT THE RELATED REVISION ORDER UNDER SECTION 263 IS PARTL Y QUASHED VIDE ORDER PASSED DATED 6 TH AUGUST 2010 BY A COORDINATE BENCH OF THIS TRIBU NAL TO THE EXTENT IMPUGNED ADDITIONS ARE CONCERNED. IN VIEW OF THE FACT THAT THE REVISION ORDER ITSELF DOES NOT SURVIVE ANY LONGER TO THE EXTENT THE RELEVANT ISSUE IN APPEAL BEFORE US THE IMPUGNED ADDITIONS ALSO CEASES TO BE DEVOID OF ANY LEGALLY S USTAINABLE FOUNDATION. IN VIEW OF ABOVE THE GRIEVANCE RAISED BY THE REVENUE IS WHOL LY ACADEMIC AND DOES NOT CALL FOR ANY ADJUDICATION. THE ISSUES RAISED IN THE APPEAL ARE THUS OF NO CONSEQUENCE AND MUST BE DISMISSED AS INFRUCTUOUS. WE ACCORDINGLY DISMISS THE APPEAL AS INFRUCTUOUS. 3. IN THE RESULT APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 22 ND JULY 2011 SD/- (D.K.AGARWAL) JUDICIAL MEMBER SD/- (PRAMOD KUMAR) ACCOUNTANT MEMBER MUMBAI DATED 22 ND JULY 2011 PARIDA COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS) 3 MUMBAI 4. COMMISSIONER OF INCOME TAX 11 MUMBAI 5. DEPARTMENTAL REPRESENTATIVE BENCH F MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR ITAT MUMBAI