ITO-2(2)(4), R. No. 542, 5th Floor, Aayakar Bhavan, Mumbai-400020 Vs. M/s Photogravours (India) Pvt. Ltd., 21, Seth Chambers, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023
November, 24th 2015
IN THE INCOME TAX APPELLATE TRIBUNAL,
MUMBAI BENCH "C", MUMBAI
BEFORE SHRI R.C.SHARMA, ACCOUNTANT MEMBER AND
SHRI PAWAN SINGH, JUDICIAL MEMBER
Assessment Year: 2010-11
ITO-2(2)(4), M/s Photogravours (India) Pvt. Ltd.,
R. No. 542, 5th Floor, 21, Seth Chambers, Dr. V.B. Gandhi
Aayakar Bhavan, Vs. Marg, Fort, Mumbai-400023
Revenue by : Shri Nimesh Yadav (DR)
Assessee by : Shri Jitendra Singh, Miss.
Date of hearing : 24.08.2015
Date of Pronouncement : 20.11.2015
PER PAWAN SINGH, JM:
1. The appeal has been filed by the Revenue against the order of CIT(A)-5, Mumbai
dated 12.12.2013 in respect of Assessment Year (AY) 2010-11 on the following
grounds of appeal:
1. On the facts and in the circumstances of the case and in law the Ld. CIT(A)
erred in allowing assessee's appeal without adjudicating the detailed
evidences gathered by the AO.
2. On the facts and in the circumstances of the case and in law the Ld. CIT(A)
erred in directing the AO to compute the income from House Property on
the basis of municipal retail value even though the prevailing market value
in that area was much higher.
2 ITA No. 1525/M/2014 M/s Photogravours (India) Pvt. Ltd.
3. For these and other grounds that may be urged at the time of hearing, the
decision of the CIT(A) may be set aside and that of the AO restored.
2. The brief facts of the case are that the assessee filed its return of income on
28.09.2010 for AY-2010-11 declaring total income of Rs. Nil. The return of
income was processed u/s 143(1) of the Act. Statutory notice was served and
after giving an opportunity, the Assessing Officer (AO) made the disallowance of
Rs. 2,96,464/- of account of estimation of income and further a sum of Rs.
5,02.20,000/- on account of income from "House Property" by invoking provision
of section 23(1)(a), against which an appeal was filed before the CIT(A) and in
the appeal both the additions were deleted by the CIT(A) in the impugned order
dated 28.11.2013, against which the present appeal is filed before us challenging
the order of CIT(A) only in respect of addition on account of income from "House
Property" on the basis of municipal retail value.
3. We have heard the Authorized Representative (AR) of the parties and perused
the material available on record. The ld. AR of the assessee has relied upon the
order of AO. The AR of the assessee has argued that similar additions were
made in respect of income from "House Property" in AY-2007-08 against which
an appeal was filed before the Co-ordinate Bench of this Tribunal which was
registered as ITA No. 1813/Mum/2011, and the same was allowed vide order
dated 27.04.2011, against which the Revenue has preferred an appeal before
the Hon'ble jurisdictional High Court being ITA No. 1472 of 2012 and the same
was dismissed. The Ld. AR for assessee has already placed on record the copy
of the decision of co-ordinate bench of ITAT and Hon'ble High Court.
4. Ld. AR of the assessee further argued that the issue raised by the Revenue in
the present appeal is squarely covered by the order of Co-ordinate Bench in ITA
3 ITA No. 1525/M/2014 M/s Photogravours (India) Pvt. Ltd.
No. 1813/Mum/2011 which was subsequently approved by Hon'ble jurisdictional
5. We have perused the order placed on record and after going through the same
we are of the considered opinion that the issue raised in the present appeal is
squarely covered by the judgment of Co-ordinate Bench as well as by the
jurisdictional High Court and respectfully following the concurrent finding, we do
not find any illegality in the order of CIT(A) dated 12.12.2013, hence the appeal
filed by the Revenue is dismissed.
6. In the result, appeal filed by the Revenue is dismissed.
Order pronounced in the open court on this 20th November 2015.
(R.C.SHARMA) (PAWAN SINGH)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Mumbai; Dated 20/11/2015
Copy of the Order forwarded to :
1. The Appellant
2. The Respondent.
3. The CIT(A), Mumbai.
DR, ITAT, Mumbai
5. BY ORDER,
6. Guard file.