ACIT CEN CIR-8, MUMBAI v. SHIRISH B.MODY, MUMBAI

ITA 1885/MUM/2009 | 2007-2008
Pronouncement Date: 18-02-2010 | Result: Dismissed

Appeal Details

RSA Number 188519914 RSA 2009
Bench Mumbai
Appeal Number ITA 1885/MUM/2009
Duration Of Justice 10 month(s) 23 day(s)
Appellant ACIT CEN CIR-8, MUMBAI
Respondent SHIRISH B.MODY, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 18-02-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted E
Tribunal Order Date 18-02-2010
Assessment Year 2007-2008
Appeal Filed On 25-03-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E MUMBAI BEFORE SHRI. P.M. JAGTAP (A.M.) AND SHRI. N.V. VASU DEVAN (J.M.) ITA NO.1885/MUM/2009 ASSESSMENT YEAR : 2007-08 ASST.COMMISSIONER OF INCOME-TAX C.C.8 C. RG.-2 8 TH FLR. OLD CGO BLDG. ANNEXE M.K. MARG MUMBAI 400 020 VS. SHIRISHI B. MODY 83 B & C SHETH GOVINDRA SMRUTI DR. A.B. RD. WORLI MUMBAI 400 018. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI P. N. DEVEDARAN RESPONDENT BY : SHRI D.R. RAIYANI O R D E R PER P.M. JAGTAP A.M. THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LEARNED CIT(A) CENTRAL -II MUMBAI DATED 28.01.2009 WHEREBY HE DIRECTED THE ASSESSING OFFICER TO TREAT THE SEIZED CASH OF RS.30 LACS AND THE AMOUNT OF RS.71 LACS PAID BY PAY ORDER IN FAVOUR OF DDIT (INV .) AS ADVANCE TAX PAID BY THE ASSESSEE AS PER THE SPECIFIC REQUEST MADE VIDE LETTER DATED 14.03.2007 AND TO GIVE CREDIT THEREOF WHILE CALCULATING THE IN TEREST PAYABLE BY THE ASSESSEE. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT T HE SIMILAR ISSUE HAD COME UP FOR CONSIDERATION BEFORE THE CORDINATE BENCH OF THIS TRIBUNAL IN THE CASE OF J.B. MODY ON ASSESSEE BELONGING TO THE SAME GRO UP AND VIDE ITS ORDER DATED 09.12.2009 PASSED IN ITA NO.1884/MUM/2009 TH E TRIBUNAL UPHELD THE ORDER OF THE LEARNED CIT(A) GRANTING A SIMILAR RELIEF TO THE ASSESSEE OBSERVING THAT THERE WAS NOTHING WRONG IN THE SAID ORDER DIRECTING THE ASSESSING OFFICER TO GIVE CREDIT FOR THE AMOUNT OF RS.2.16 CRORES CONSISTING OF ITA NO.1885/MUM/2009 A.Y.: 2007-08 2 SEIZED CASH AND PAYMENT MADE BY D.D. TREATING THE S AME AS ADVANCE TAX FOR COMPUTING INTEREST PAYABLE BY THE ASSESSEE. AS T HE ISSUE INVOLVED IN THE PRESENT CASE AS WELL AS ALL THE MATERIAL FACTS RELE VANT THERETO ARE SIMILAR TO THE CASE OF SHRI J.B. MODY (SUPRA) WE RESPECTFULLY FOLLOW THE ORDER OF THE TRIBUNAL PASSED IN THE SAID CASE AND UPHOLD THE IMP UGNED ORDER OF THE LEARNED CIT(A) GIVING SIMILAR RELIEF TO THE ASSESSE E. 3. IN THE RESULT THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED ON THIS 18 TH DAY OF FEBRUARY 2010. SD/- (N.V. VASUDEVAN) (JUDICIAL MEMBER) SD/- (P.M. JAGTAP) (ACCOUNTANT MEMBER) MUMBAI DATED 18 TH FEBRUARY 2010. JANHAVI COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS)-II MUMBAI 4. COMMISSIONER OF INCOME TAX CITY-II MUMBAI 5. DEPARTMENTAL REPRESENTATIVE BENCH E MUMBAI TRUE COPY BY ORDER ASSTT. REGISTRAR ITAT MUMBAI ITA NO.1885/MUM/2009 A.Y.: 2007-08 3 DATE INITIALS 1. DRAFT DICTATED ON 16-02-2010 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 17-02-2010 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM 5. APPROVED DRAFT COMES TO THE SR. PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. FILE SENT TO THE BENCH CLERK SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER