ANIL GOPAL RAO,MUMBAI V. DDIT ADIT (INVESTIGATION) 2(2) MUMBAI, MUMBAI

BMA 35/MUM/2024

AI Insights

Mr. Anil Gopal Rao appealed against the order of the Ld. Commissioner of Income Tax (Appeals), which affirmed the addition of Rs.3,62,42,300 as an undisclosed foreign asset under the Black Money Act for the Assessment Year 2019-20. The Assessee, a senior citizen and middle-class individual, claimed to have failed to produce relevant documents initially but later managed to procure some evidence. The Income Tax Appellate Tribunal (ITAT) decided to remand the case back to the Ld. Commissioner to allow the Assessee to present this new evidence, emphasizing the need for a just decision based on the real income.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 470646 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 15 day(s)
• Appeal Type: Others
• Pronouncement Date: 23-10-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 10-10-2024
• Assessment Year: 2019-2020
• Appeal Filed On: 08-08-2024
• Laws Referred To: Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAVEEN SHRIVASTAVA
• Assessee Lawyers: ASHISH MEHTA AW UJJVAL
• Keywords: Additional evidence; Capital Gains

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “E”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER BMA No.35/M/2024 Assessment Year: 2019-20 Mr. Anil Gopal Rao 1-C Cosmopolis, 21 LD Ruparel Marg, Malabar Hill, Mumbai - 400006 PAN: AABPR7011D Vs. DDIT ADIT (Investigation)2(2) Mumbai, Room No.17, Ground Floor, Scindia House, Ballard Estate, Mumbai - 400038 (Appellant) (Respondent) Present for: Assessee by : Shri Ashish Mehta a/w Shri Ujjval Gangwal Revenue by : Shri Praveen Shrivastava, SR AR Date of Hearing : 10 . 10 . 2024 Date of Pronouncement : 23 . 10 . 2024 O R D E R Per : Narender Kumar Choudhry, Judicial Member: This appeal has been preferred by the Assessee against the order dated 14.06.2024, impugned herein, passed by the Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 17 of Black Money (undisclosed foreign income and assets) and imposition of Tax Act, 2015 (in short Black Money Act) for the A.Y. 2019-20. BMA No.35/M/2024 Mr. Anil Gopal Rao 2 2. In this case, the Assessing Officer (AO) vide order dated 27.03.2021 has made the addition of Rs.3,62,42,300/- as undisclosed foreign asset under Black Money Act. 3. The Assessee, being aggrieved, challenged the aforesaid addition by filing first appeal before the Ld. Commissioner, who by issuing notices u/s 16 of the BMA afforded opportunity to the Assessee, however, the Assessee except seeking adjournments from time to time, made no compliance and therefore the Ld. Commissioner, on the basis of details available and perusing the assessment order passed by the AO, affirmed the aforesaid addition by dismissing appeal of the Assessee. 4. The Assessee, being aggrieved, is in appeal before us and submitted that the Assessee is a senior citizen and belongs to middle class family and earned income from donation, property and capital gains. The Assessee further claimed that he was not in possession of relevant details/documents/evidence and therefore failed to produce the same before the authorities below, however, now by making sincere efforts has procured certain evidences and therefore has filed a application for admission of additional evidences u/r 29 of the Income Tax (Appellate Tribunal) Rules, 1963 (in short ITAT Rules). Therefore in the interest of justice, may be by imposing some reasonable cost, the Assessee may be BMA No.35/M/2024 Mr. Anil Gopal Rao 3 afforded a reasonable opportunity to produce the evidence, by remanding the case to the file of the Ld. Commissioner. 5. On the contrary the Ld. D.R. refuted the claim of the Assessee. 6. We have heard the parties and perused the material available on record and considered the relevant facts and circumstances of the case as well as rival contentions of the parties. Admittedly the orders passed by the authorities below are based on non-submission of relevant evidences which the Assessee now may be not completely but in part has filed before us. As it is the mandate of the law that real income has to be taxed and in the instant case the authorities below made and affirmed the addition, admittedly in the absence of relevant reply/documents and therefore for the just decision of the case and substantial justice and fair play, we are inclined to remand the instant case to the file of the Ld. Commissioner for decision afresh, but subject to reasonable cost of Rs. 21,000/- as voluntarily offered by the Assessee, in the accounts of the Revenue Department within 15 days from the date of receipt of this order and without claiming any deduction or disallowance on the same. Suffice to say, the Ld. Commissioner shall afford reasonable opportunity of bearing heard to the Assessee and will also consider the evidence to be produced by the Assessee, for just and proper decision of the case. BMA No.35/M/2024 Mr. Anil Gopal Rao 4 7. In the result, the appeal filed by the Assessee stands allowed for statistical purposes. Order pronounced in the open court on 23.10.2024. Sd/- Sd/- (OMKARESHWAR CHIDARA) (NARENDER KUMAR CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER * Kishore, Sr. P.S. Copy to: The Appellant The Respondent The CIT, Concerned, Mumbai The DR Concerned Bench //True Copy// By Order Dy/Asstt. Registrar, ITAT, Mumbai. "