MATURE TRADING AND INVESTMENT P.LTD,MUMBAI vs. ITO (TDS) 2(3), MUMBAI

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ITA 2740/MUM/2014Status: DisposedITAT Mumbai08 November 2017AY 2009-103 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the demand under Section 201(1) was deleted, and the consequential interest under Section 201(1A) was retained and paid by the assessee. The assessee no longer wished to pursue the appeal.

What were the facts?

The assessee appealed against a demand raised under Section 201(1) and consequential interest under Section 201(1A) of the Income Tax Act. The assessee filed a rectification application before the AO, which was accepted.

What were the issues?

The primary issue was the demand raised under Section 201(1) and consequential interest under Section 201(1A). The appeal was dismissed as the assessee had received sufficient relief and did not contest the remaining interest demand.

Which sections of the Income-tax Act were involved?

Section 201(1),Section 201(1A),Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

Before: SHRI D.T. GARASIA, JM & SHRI MANOJ KUMAR AGGARWAL, AM

Per Manoj Kumar Aggarwal (Accountant Member) 1. The captioned appeal by assessee for Assessment Year [AY] 2009-10 assails the order of the Ld. Commissioner of Income-Tax (Appeals)-13 [CIT(A)], Mumbai, Appeal No. CIT(A)-13/IT- 834/Rationalisation order 602/11-12 dated 27/02/2014. The relevant ITA.No.2740/Mum/2014 Mature Trading & Investments Private Limited Assessment Year-2009-10 order was framed by Ld. Income Tax Officer (TDS)-2(3), Mumbai [AO] u/s 201(1)/201(1A) of the Income Tax Act,1961 on 30/03/2011. The assessee is aggrieved by demand raised u/s 201(1) and consequential interest u/s 201(1A).

2.

The Ld. Counsel for Assessee [AR], at the outset, drew attention to the fact that the assessee filed rectification application u/s 154 before Ld. AO, which has been accepted by the revenue. Resultantly, demand raised u/s 201(1) has been deleted and only consequential interest u/s 201(1A) has been retained which has been paid by the assessee during recovery proceedings. Therefore, the assessee was no more interest in pursuing the appeal as sufficient relief has already been granted and further, interest demand u/s 201(1A) is not being contested by the assessee due to smallness of the demand. The Ld. DR concurred with the same and raised no objection against withdrawal of the appeal.

3.

In view of the above, the appeal stands dismissed in limine as per assessee’s request. Order pronounced in the open court on 08th November, 2017.

1.

Sd/- Sd/- (D.T. Garasia) (Manoj Kumar Aggarwal) �ाियक सद� / Judicial Member लेखा सद� / Accountant Member मुंबई Mumbai; िदनांक Dated : 08.11.2017 Sr.PS:- Thirumalesh ITA.No.2740/Mum/2014 Mature Trading & Investments Private Limited Assessment Year-2009-10 आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : अपीलाथ� / The Appellant 1. ��थ� / The Respondent 2. आयकर आयु�(अपील) / The CIT(A) 3. आयकर आयु� / CIT – concerned 4. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, मुंबई / DR, ITAT, Mumbai 5. गाड� फाईल / Guard File 6.

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