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TMI Blog2019 (8) TMI 1472X X X X Extracts X X X X X X X X Extracts X X X X ..... .Y.2008-09) Revenue Appeal This appeal in ITA No.4229/Mum/2016 for A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-54, Mumbai in appeal No.CIT(A)-41/ACCC-39/IT-135/14-15 (New No.CIT(A)-54/ACCC39/IT-79/14-15) dated 21/03/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 153A of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 07/03/2014 by the ld. Asst. Commissioner of Income Tax, Central Circle - 39, Mumbai (hereinafter referred to as ld. AO). ITA No.4243/Mum/2016 (A.Y.2011-12) Revenue Appeal This appeal in ITA No.4243/Mum/2016 for A.Y.2011-12 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-54, Mumbai in appeal No.CIT(A)-41/ACCC-39/IT-138/14-15 (New No.CIT(A)-54/ACCC39/IT-76/14-15) dated 21/03/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 153A of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 07/03/2014 by the ld. Asst. Commissioner of Income Tax, Central Circle - 39, Mumbai (hereinafter referred to as ld. AO). ITA No.4239/Mum/2016 (A.Y.2007-08) Revenue Appeal This appeal in ITA No.4239/Mum/2016 for A.Y.2007-08 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 03/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 153A of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 07/03/2014 by the ld. Asst. Commissioner of Income Tax, Central Circle - 39, Mumbai (hereinafter referred to as ld. AO). ITA No.4085/Mum/2016 (A.Y.2012-13) Assessee Appeal This appeal in ITA No.4085/Mum/2016 for A.Y.2012-13 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-54, Mumbai in appeal No.CIT(A)-41/ACCC-39/IT-139/14-15 (New No.CIT(A)-54/ACCC39/IT-77/14-15) dated 21/03/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 07/03/2014 by the ld. Asst. Commissioner of Income Tax, Central Circle - 39, Mumbai (hereinafter referred to as ld. AO). ITA No.4142/Mum/2016 (A.Y.2008-09) Assessee Appeal This appeal in ITA No.4142/Mum/2016 for A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-54, Mumbai in appeal No.CIT(A)-41/ACCC-39/IT-135/14-15 (New No.CIT(A)-54/ACCC39/IT-79/14-15) dated 21/03/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s.153A o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... settled that when there is no exempt income claimed by the assessee, the disallowance u/s.14A of the Act would not come into operation. Accordingly, we direct the ld. AO to delete the disallowance made u/s.14A in the sum of Rs. 28,36,146/-. Accordingly, the ground No.1 raised by the assessee is allowed. 5. The ground Nos.2,3 and 4 raised by the assessee was with regard to disallowance of staff welfare expenses in the sum of Rs. 3 lakhs, entertainment expenses in the sum of Rs. 2 lakhs, miscellaneous expenses in the sum of Rs. 2 lakhs made by the ld. AO passed in original assessment completed u/s.143(3) of the Act dated 24/05/2010. 5.1. We have heard rival submissions. We find that these disallowances of expenditure in the total sum of Rs. 7 lakhs were originally made by the ld. AO in the original assessment completed u/s.143(3) of the Act dated 24/05/2010. The assessment which is in challenge before us is the assessment framed u/s.143(3) r.w.s. 153A of the Act dated 07/03/2014 pursuant to the search carried out in the case of J M Baxi Group on 20/03/2012. At the time of hearing, no arguments were advanced by the ld. AR with regard to these disallowances and accordingly, the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is fact be examined by the ld. AO and the issue be decided accordingly. Per contra, the ld. DR vehemently objected to setting aside of this issue to the file of the ld. AO as assessee itself had classified the receipt as rental income. We find that assessee had given a detailed note supra explaining the nature of transaction which requires to be examined. It is well settled that substance of the transaction would always prevail over its form. Accordingly, we deem it fit and appropriate, in the interest of justice and fair play, to remand this issue to the file of the ld. AO for denovo adjudication. Accordingly, the ground No. III raised by the assessee is partly allowed for statistical purposes. 9. In the result, the appeal of the assessee for A.Y.2009-10 in ITA No.4109/Mum/2016 is partly allowed for statistical purposes. ITA No.4083/Mum/2016 (A.Y.2010-11) Assessee Appeal 10. The ground No. I & II raised by the assessee was stated to be not pressed by the ld. AR at the time of hearing. The same is reckoned as a statement made from the Bar and accordingly grounds I & II are dismissed as not pressed. 11. The ground No.1 raised by the assessee is similar to the ground No.1 raised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... force for this year also. Accordingly, the ground No.1 is partly allowed for statistical purposes. 21. The ground No.2 is with regard to disallowance made u/s.14A of the Act. This ground is also similar to ground No.1 raised by the assessee for A.Y.2008-09 supra and the decision rendered thereon would apply with equal force herein. Accordingly, the ground No.2 raised for the A.Y.2010-11 is allowed. 22. The ground Nos.3,4,5 & 6 were with regard to adhoc disallowance of expenses made by the ld. AO towards staff welfare expenses, entertainment expenses and miscellaneous expenses. We find that no arguments were advanced by the ld. AR at the time of hearing and accordingly, the same are treated as dismissed. 23. In the result, appeal of the assessee for A.Y.2012-13 is partly allowed for statistical purposes. TO SUM UP Sr. No. ITA No. AY Appeal by Result 1. 4228/Mum/2016 A.Y. 2010-11 Revenue appeal Dismissed 2. 4229/Mum/2016 A.Y.2008-09 Revenue Appeal Dismissed 3. 4243/Mum/2016 A.Y.2011-12 Revenue Appeal Dismissed 4. 4239/Mum/2016 A.Y.2007-08 Revenue Appeal Dismissed 5. 4244/Mum/2016 A.Y.2012-13 Revenue Appeal Dismissed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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