ACIT CIRCLE 2(3)(2), MUMBAI vs. M/S. STERLING HOLIDAY RESORTS LTD., CHENNAI

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ITA 6084/MUM/2018Status: DisposedITAT Mumbai08 January 2020AY 2010-113 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the SLP against the relied-upon High Court decision had already been dismissed by the Supreme Court. Therefore, the CIT(A)'s order, which followed the binding precedent, was upheld.

What were the facts?

The revenue appealed against the CIT(A)'s order which allowed the assessee to carry forward unabsorbed depreciation. The revenue argued that the CIT(A) relied on a High Court decision whose SLP was still pending.

What were the issues?

Whether the CIT(A) erred in relying on a High Court decision for carry forward of unabsorbed depreciation when the department had filed an SLP against it.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI RAVISH SOOD, JM

For Appellant: Mr. Viswanathan-Ld. AR
For Respondent: Mr. N. Padmanabhan-Ld. DR

आयकरअपील सं./ (िनधा"रण वष" / Assessment Year: 2010-11) ACIT-2(3)(2) M/s. Sterling Holiday Resorts Ltd. बनाम/ Aaykar Bhavan, Room No.552, Thomas Cook Building 5th Floor, M.K. Road Dr. D.N. Road, Fort Vs. Mumbai -400 020. Mumbai- 400 001. Permanent Account No.: AABCT- 7079-G(New) / AADCS-4841-D(Old) (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : Mr. Viswanathan-Ld. AR Revenue by : Mr. N. Padmanabhan-Ld. DR सुनवाई की तारीख/ : 08/01/2020 Date of Hearing घोषणा की तारीख / : 08/01/2020 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by revenue for Assessment Year [in short referred to as ‘AY’] 2010-11 contest the order of Ld. Commissioner of Income- Tax (Appeals)-6, Mumbai, [in short referred to as ‘CIT(A)’], Appeal No. CIT(A)-6/IT-121/2017-18 dated 10/08/2018 on following sole ground of appeal: -

Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has failed to note that he relied upon the decision of Hon’ble Bombay High Court in the 2. M/s. Sterling Holiday Resorts Ltd. Assessment Year :2010-11 case of CIT V/s Hindustan Unilever Ltd. (394 ITR 73) has not reached finality as the department has filed SLP before the Hon’ble Supreme Court against the said order.

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