DCIT 5(2)(2), MUMBAI V. SANJAY BINDRA, NAVI MUMBAI

ITA 1632/MUM/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 4065 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 09-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CHAUDHARY ARUN KUMAR SINGH
• Keywords: Unexplained cash credit; Tax effect
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES G , MUMBAI BEFORE S HRI R.C. SHARMA (AM) AND SHRI RAM LAL NEGI (JM) ITA NO. 1632 /MUM/2017 ASSESSMENT Y EAR: 2011 - 12 THE DY. COMMISSIONER OF INCOME TAX 5(2)(2), R. NO. 571, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 VS. SHRI SANJAY BINDRA, C/O PUTIN IMPEX PVT. LTD., 505 - 506, KESAR SOLITAIRE, 5 TH FLOOR, SANPADA, PLOT NO. 5, SECTOR - 19, NAVI MUMBAI - 400705 PAN: ACAPB6020H (APPELLANT) (RESPONDENT) REVENUE BY : SHRI CHAUDHARY ARUNKUMAR SINGH ( DR) ASSESSEE BY : NONE DATE OF HEARING: 24/10 /201 8 DATE OF PRONOUNCEMENT: 24 / 10 /201 8 O R D E R PER RAM LAL NEGI, JM THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER DATED 30.1 1.2016 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 10 (FOR SHORT THE CIT ( A) , MUMBAI, FOR THE ASSESSMENT YEAR 2011 - 12 , WHEREBY THE LD. CIT(A) HAS ALLOWED T HE APPEAL FILED BY THE ASSESSEE AGAINST THE ASSESSMENT ORDER PASSED U/S 143 (3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT). 2. AGGRIEVED BY THE ORDER OF LD. CIT (APPEAL S ), THE REVENUE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL ON THE FOLLOWING EFFECTIVE GROUND : - 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. C IT (A) HAS ERRED IN DELETING THE ADDITION OF RS. 33,50,000/ - ON ACCOUNT OF UNEXPLAINED CREDIT U/S 68 EVEN THOUGH THE ASSESSEE HAS NOT FURNISHED THE PROOF 2 ITA NO. 1632/ M UM/2017 ASSESSMENT YEAR: 2011 - 12 OF HAVING CASH - IN HAND OF RS. 24 LAKHS FOR ADVANCING THE SAME TO CHANDAN & CHANDAN AS A FINANCIAL HELP ON THE DATE OF ADVANCING THE SAME. 3 . THIS CASE WAS FIXED FOR TODAY FOR HEARING. HOWEVER, WHEN THE CASE WAS CALLED OUT FOR HEARING, NONE APPEARED ON BEHALF OF THE RESPONDENT/ASSESSEE. WE NOTICE THAT THE TAX EFFECT OF THE RELIEF GRA NTED BY THE LD. COMMI SSIONER OF INCOME TAX (APPEALS) IS BELOW RS.20 LACS AND AS PER THE CBDT CIRCULAR NO. 3/2018, F. NO. 279/MISC.142/2007 - ITJ (PT) DATED 11 TH JULY, 2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA LI MIT FIXED BY THE CBDT FOR FILING THE APPEAL BEFORE THE ITAT IS 20 LACS . 4 . THE LD. DEPARTMENTAL REPRESENTATIVE (DR) FAIRLY CONCEDED THAT TH IS APPEAL IS NOT MAINTAINABLE IN LIGHT OF THE ABOVE SAID CBDT CIRCULAR. THE LD. DR ALSO DID NOT POINT OUT THAT TH IS A PPEAL FALL S IN ANY OF THE EXCEPTIONS CARVED OUT IN THE ABOVE SAID CIRCULAR. 5 . WE HAVE GONE THROUGH THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) AND THE GROUNDS OF APPEALS. WE FIND THAT THE TAX EFFEC T IN THE ABOVE REFERRED APPEAL IS LESS THAN RS. 20 LACS. ACCORDINGLY, W E DISMISS THE AFORESAID APPEAL FILED BY THE REVENUE. IN THE RESULT, THE APPEAL BY THE REVENUE IS DISMISSED. O RDER PRONOUNCED IN THE OPEN COURT ON 24 OCTOBER , 2018 . SD/ - SD/ - ( R.C. SHARMA ) ( RAM LAL NEGI ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 24 / 10 / 201 8 ALINDRA, PS 3 ITA NO. 1632/ M UM/2017 ASSESSMENT YEAR: 2011 - 12 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . / BY ORDER, //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI