ITA 497/Mum/2019 Ito 2 (1)(3), Mumbai Vs. Centrum Capital Limited, Mumbai

Last updated: 09 October 2020

Court :
ITAT Mumbai

Brief :
This is an appeal by the Revenue and cross objection by the assessee arising out of orders of the learned Commissioner of Income Tax (Appeals)-4, Mumbai (‘ld.CIT(A) for short) dated 05.11.2018 and pertains to the assessment year (A.Y.) 2013-14.

Citation :
ITA No. 497/Mum/2019

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI

BEFORE SHRI SHAMIM YAHYA, AM AND

SHRI PAVAN KUMAR GADALE, JM

ITA No. 497/Mum/2019

(Assessment Year: 2013-14)

ITO – 2(1)(3)Room Ni. 553, 5th Floor,Aaykar Bhavan, M. K. Road,Mumbai-400 020 PAN/GIR No. AAACC 5099 G
(Revenue)

Centrum Capital Limited 2 nd Floor, Bombay Mutual Building,Dr. D. N. Road, Fort,Mumbai-400 001
(Assessee)

and CO No. 12/Mum/2020 (Arising out of ITA No. 497/Mum/2019) (Assessment Year: 2013-14)

Centrum Capital Limited 2 nd Floor, Bombay Mutual Building,Dr. D. N. Road, Fort,Mumbai-400 001 PAN/GIR No. AAACC 5099 G
(Assessee)

ITO – 2(1)(3)Room Ni. 553, 5th Floor,Aaykar Bhavan, M. K. Road,Mumbai-400 020
(Revenue)

Revenue by : Shri Lalit Dehiya
Assessee by : Shri Jitendra Jain
Date of Hearing : 01.10.2020
Date of Pronouncement : 05.10.2020

O R D E R

Per Shamim Yahya, A. M.:

This is an appeal by the Revenue and cross objection by the assessee arising out of orders of the learned Commissioner of Income Tax (Appeals)-4, Mumbai (‘ld.CIT(A) for short) dated 05.11.2018 and pertains to the assessment year (A.Y.) 2013-14. 2. The Revenue’s grievance is that the ld. CIT(A) has erred in restricting the disallowance u/s.14(A) of the Income Tax Act, 1961 (‘the Act' for short) to Rs.22,82,187/- being the suomotu disallowance done by the assessee itself.

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