Summit Securities Ltd,Mumbai Vs. ADDL CIT RG 8(2), Mumbai

Last updated: 10 October 2020

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This Income Tax Appellate Tribunal case concerns Summit Securities Ltd (formerly KEC Inf. Ltd.) appealing against the Additional Commissioner of Income Tax in Mumbai. The appeal, specifically Ground No. 4, was recalled for adjudication after the assessee pointed out it remained unaddressed in a previous order. The Tribunal has now heard submissions from both parties regarding this specific ground.

Court :
ITAT Mumbai

Brief :
The aforesaid appeal is a recalled matter for limited purpose of adjudicating ground no. 4 since the appeal was earlier disposed-off vide Tribunal order dated 01/03/2018. However, it was pointed out by the assessee vide MA No. 582/Mum/2018 that Ground No. 4 of the appeal remained to be adjudicated. The application was accepted by the Tribunal vide order dated 13/11/2019 wherein the order was recalled for ITA No.2336/Mum/2012 Summit Securities Ltd. Assessment Year :2005-06 the limited purpose of adjudicating Ground No.4. Accordingly, the appeal has come up for hearing before this bench. We have carefully heard the submissions made by rival representatives.

Citation :
I.T.A. No.2336/Mum/2012

IN THE INCOME TAX APPELLATE TRIBUNAL
“E” BENCH, MUMBAI
BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND
HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
I.T.A. No.2336/Mum/2012
Assessment Year:2005-06)

Summit Securities Ltd.[Formerly known as KEC Inf. Ltd.)213, Bezzola Complex B-Wing, Sion-Trombay Road Chembur, Mumbai – 400 071
Appellant)
Vs.
Add. CIT-8(3) Aaykar Bhavan Mumbai.

PAN/GIR No. AAACK-4279-J
Respondent)

Assessee by : Shri Ronak Doshi-Ld.AR
Revenue by : Shri Manjunatha Swamy-Ld. CIT DR
Date of Hearing : 05/10/2020
Date of Pronouncement : 05/10/2020

O R D E R

Manoj Kumar Aggarwal (Accountant Member)

1. The aforesaid appeal is a recalled matter for limited purpose of adjudicating ground no. 4 since the appeal was earlier disposed-off vide Tribunal order dated 01/03/2018. However, it was pointed out by the assessee vide MA No. 582/Mum/2018 that Ground No. 4 of the appeal remained to be adjudicated. The application was accepted by the Tribunal vide order dated 13/11/2019 wherein the order was recalled for the limited purpose of adjudicating Ground No.4. Accordingly, the appeal has come up for hearing before this bench. We have carefully heard the submissions made by rival representatives.

To know more in details find the attachment file