Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: VAT Audit :: form 3cd
 
 
From the Courts »
 Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 CIT vs. Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)
 IndiaBulls Financial Services Ltd vs. DCIT (Delhi High Court)
 Maharao Bhim Singh of Kota vs. CIT (Supreme Court)
 Ravneet Takhar Vs. Commissioner Of Income Tax Ix And Ors.
 Jaiprakash Associates Ltd. Vs. Commissioner Of Income Tax
 Formula One World Championship Limited Vs. Commissioner Of Income Tax, International Taxation-3 And Anr.
 Commissioner Of Income Tax International Taxation-3 Delhi Vs. Formula One World Championship Ltd. And Anr.
 Reliance Communications Ltd vs. DDIT (ITAT Mumbai)
  Sushila Devi vs. CIT (Delhi High Court)
 Ashok Prapann Sharma vs. CIT (Supreme Court)a

Quantum Real Estate and Property Development India Ltd., 101 Kapadia Apartment, S.V.Road, Vile Parle (W) Mumbai- 400056 Vs. DCIT Central Circle 39 Aayakar Bhavan, Ground Floor, M.K.Road, Mumbai-400020
September, 25th 2013
                                    , ""  

                 INCOME TAX APPELLATE TRIBUNAL,MUMBAI - `D' BENCH.

                         [^ .
                            .. , Û   Û], 
                             . ,
                               

            Before S/Sh. I.P. Bansal,Judicial Member & Rajendra,Accountant Member

             /.ITA No.813/Mum/2012 ,[ [/Assessment Year-2008-09

                 Quantum Real Estate and          DCIT Central Circle 39
                 Property Development India       Aayakar Bhavan, Ground Floor,
                 Ltd., 101 Kapadia Apartment, Vs. M.K.Road,
                 S.V.Road, Vile Parle (W)         Mumbai-400020
                 Mumbai- 400056
                                         PAN:AAACQ1375R

                 (/ Appellant)                                  (× / Respondent)

                        / Appellant by                                      : NONE
                     ×   /Respondent by                                    : Shri Salman Khan
                   / Date of Hearing                                       : 17-09-2013
                    / Date of Pronouncement                                : 17-09-2013

                                                   / O R D E R

PER RAJENDRA, AM

       Following is the Ground of appeal filed by the appellant against the order dated 08-12-2011 of
the CIT(A)-41, Mumbai for the AY 2008-09.
  1.   The Learned Commissioner of Income-tax (Appeals)-41, Mumbai [hereafter referred to as the CIT(A)] erred in
       confirming the disallowance of interest to the extent of Rs. 50,11,602/- out of the total interest claimed Rs.
       56,09,241/- u/s. 36(1)(iii) of the Income tax Act, 1961 on the wrong appreciation of the facts of the case .




       Your appellant submits that the entire amount of interest paid to Bank is for the purpose of business and is fully
       allowable as a deduction u/s. 36(1)(iii) of the Act and the Assessing Officer may be directed to delete the said
       disallowance of interest.

       Your appellant craves leave to add to, alter or amend any of the aforestated grounds of appeal.

2. Assessee was informed that matter will be heard on 17-09-2013. But, no one appeared on behalf of
assessee. Nor there is any application for adjournment. In view of above, it appears that assessee is
not interested in prosecuting this appeal. Hence this appeal of the assessee is liable to be dismissed for
non- prosecution. In this regard, we are supported by the decision in the case of CIT Vs. B.N.
Bhattachargee and another, reported in 118 ITR 460 (relevant pages 477 & 478) wherein their
Lordships have held that:
                                      2   ITA No.813/Mum/2012 Quantum Real Estate and Property Development India Ltd






 "The appeal does not mean merely filing of the appeal but effectively pursuing it".

 3. In this regard we are also supported by the decision in the case of CIT Vs Multiplan India (P) Ltd.,
38 ITD 320 (Del).

 4. In view of the above, and also considering the provision of Rule 19 of the Appellate Tribunal rules,
1963, appeal of the assessee is dismissed.

5. In the result, appeal of the assessee is dismissed for non- prosecution.

             Order pronounced in the open court on 17th September, 2013.
                  Û  fnuka                      nukad 17.09.2013   .

               Sd/-                                                      Sd/-
          (.
           ... ,
               , / I.P.Bansal)
                                                                       (Û]/Rajendra)
       Û  /Judicial Member                                        /Accountant Member


/Mumbai,/Date: 17.09 .2013

SK
    /Copy of the Order forwarded to :

1. Assessee /                                                 2. Respondent /×

3. The concerned CIT(A)/   , 4.The concerned CIT /  

5. DR "D" Bench, ITAT, Mumbai / . ,..Û.

6. Guard File/[ 



                                  ×  //True Copy//

                                                                / BY ORDER,

                                                     /  Dy./Asst. Registrar

                                                ,  /ITAT, Mumbai

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions