Siti Cable Network Ltd, Mumbai vs. Asst CIT RG 11(1), Mumbai
In the result, the appeal filed by the assessee is allowed
ITA 6961/MUM/2014[2004-05]Status: DisposedITAT Mumbai26 Sept 2018AY 2004-05
Bench: Shri R.C. Sharma & Shri Sandeep Gosainm/S. Siti Cable Network Ltd. Acit, Range -11(1) (Partly Mrged With Dish Tv India Ltd.) Room No. 439, 4Th Floor 135,Continental Building Vs. Aayakar Bhavan, M.K. Road Dr. Annie Besant Road Mumbai 400020 Worli, Mumbai 400018 Pan – Aaaca5478M Appellant Respondent Appellant By: Shri Vijay Mehta Respondent By: Shri Ashish Kumar Date Of Hearing: 25.07.2018 Date Of Pronouncement: 26.09.2018 O R D E R Per Sandeep Gosain, Jm This Appeal Filed By Revenue Is Directed Against The Order Of The Cit(A)-3, Mumbai Dated 15.09.2014 & It Relates To A.Y. 2005-05. 2. The Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Rendering Cable Network Services (Called Multi System Operator) To Cable Operators, Subscribers, Franchisee & Affiliates, Etc. The Original Return Of Income Was Filed By The Assessee On 31.10.2004 Showing Loss Of `83,73,94,340/-. The Assessment Was Completed Under Section 143(3) Vide Order Dated 22.12.2006 Assessing The Total Income At `249,53,53,900/- By Adding Subscription Income Of `356,32,58,864/- & Disallowing Write Off Of Loan & Advances Of `5,09,64,244/- & Write Of Off Inventories Of Band Width Charges Of `2,23,59,985/-. The Learned Cit(A), Vide Order Dated 23.03.2007 & His Order Under Section 154 Dated 15.06.2007 Deleted The Addition Of Subscription Income & Inventories
For Appellant: Shri Vijay MehtaFor Respondent: Shri Ashish Kumar
Section 143(3)Section 154Section 36(1)(vii)Section 9(1)(vi)
…IN THE INCOME TAX APPELLATE TRIBUNAL "E" Bench, Mumbai Before Shri R.C. Sharma, Accountant Member and Shri Sandeep Gosain, Judicial Member M/s. Siti Cable Network Ltd. ACIT, Range -11(1) (Partly mrged with Dish TV India Ltd.) Room No. 439, 4th Floor 135,Continental Building Vs. Aayakar Bhavan, M.K. Road Dr. Annie Besant Road Mumbai 400020 Worli, Mumbai 400018 PAN – AAACA5478M Appellant Respondent Appellant by: Shri Vijay Mehta Respondent by: Shri Ashish Kumar Date of Hearing: 25.07.2018 Date of Pronouncement: 26.09.2018 O R D E R Per Sandeep Gosain, JM This appeal filed by Revenue is directed against the order of…
