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Income Tax Appellate Tribunal, MUMBAI BENCH “C”, MUMBAI
Before: SHRI R.C.SHARMA & SHRI PAWAN SINGH
O R D E R 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.
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.
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 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.
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 which was subsequently approved by Hon’ble jurisdictional High Court.
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.
In the result, appeal filed by the Revenue is dismissed. Order pronounced in the open court on this 20th November 2015.