MEHRAJ R MERCHANT, MUMBAI V. ITO WD 19(3)(3), MUMBAI

ITA 1875/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3158 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-06-2016
• Appeal Filed By: Assessee
• Bench Allotted: B
• Next Hearing Date: 16-11-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 08-03-2013
• Court: TRIBUNAL
• Department Lawyers: VINITA MENON
• Keywords: Unexplained cash credit

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE S/SHRI B.R. BASKARAN (AM) & RAMLAL NEGI (JM) I.T.A. NO. 1875 /MUM/ 20 13 (ASSESSMENT YEAR 200 4 - 0 5 ) MEHRAJ R. MERCHANT 43, AMIR VILLA 3 RD FLOOR, PALI MALA ROAD BANDRA WEST MUMBAI - 400 050. VS. ITO WARD 19(3)(3) PIRAMAL CHAMBERS PAREL MUMBAI - 400 012. ( APPELLANT ) ( RESPONDENT ) PAN NO . AAGPM7641H ASSESSEE BY NONE DEPARTMENT BY S MT. VINITA MENON DATE OF HEARING 15 . 6. 201 6 DATE OF PRONOUNCEMENT 15 . 6 . 201 6 O R D E R PER B.R. BASK ARAN, A M : - THE APPEAL FILED BY THE ASSESSEE IS DIRECTED A GAINST THE ORDER DATED 28.12.2012 PASSED BY LEARNED CIT(A) - 18 , MUMBAI AND IT RELATES TO A.Y. 200 4 - 0 5 . 2. THE ASSESSEE IS AGGRIEVED BY THE DECISION OF LEARNED CIT(A) IN CONFIRMING THE ASSESSMENT OF AGRICULTURAL INCOME OF ` 19.02 LAKHS AS UNEXPLAINED CASH CREDIT . 3. NONE APPEARED ON BEHALF OF THE ASS ESSEE, HENCE WE PROCEED TO DISPOSE OF THE APPEAL EX - PARTE, WITHOUT PRESENCE OF THE ASSESSEE. 4. WE HAVE HEARD LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE RECORD. THE ASSESSING OFFICER NOTICED THAT THE ASSESSEE HAS DECLARED AGRICULTURAL INCOME OF ` 15,78,680/ - . THE ASSESSEE HAS SHOWN SALE VALUE OF THE AGRICULTURAL PRODUCE AT ` 19,02,259/ - AND CLAIMED EXPENSES THEREON TO THE TUNE OF ` 3 ,23,579 / - . ACCORDINGLY HE DISCLOSED NET AGRICULTURAL INCOME AT ` MEHRAJ R. MERCHANT 2 15,78,680/ - . SINCE THE ASSESSEE DID NOT FURNISH ANY MATERIAL TO SUBSTANTIATE GENERATION OF AGRICULTURAL INCOME, THE ASSESSING OFFICER ASSESSED SALE PROCEED OF ` 19,02,259/ - AS UNEXPLAINED CASH CREDI T. BEFORE LEARNED CIT(A), THE ASSESSEE FURNISHED CERTAIN DETAILS AND HENCE LEARNED CIT(A) CALLED FOR A REMAND REPORT FROM THE ASSESSING OFFICER. THE DETAILS FURNISHED BY THE ASSESSEE WERE NOT FOUND TO BE SUFFICIENT BY ASSESSING OFFICER AS WELL AS LEARNED CIT(A) AND HENCE THE FIRST APPELLATE AUTHORITY DISMISSED THE APPEAL FILED BY THE ASSESSEE. AGGRIEVED, THE ASSESSEE HAS FILED THIS APPEAL BEFORE US. 5. WE HAVE NOTICED THAT THE ASSESSEE HAS NOT FURNISHED MATERIAL S BEFORE US ALSO TO SUBSTANTIATE THE CLAIM OF GENERATION OF AGRICULTURAL INCOME. THE ASSESSEE HAS NOT FURNISHED ANY MATERIAL TO SHOW THAT THE DECISION RENDERED BY LEARNED CIT(A) IS CONTRARY TO THE FACTS AVAILABLE ON RECORD. UNDER THESE SET OF FACTS, WE HAVE NO OTHER OPTION BUT TO CONFIRM THE ORDER PASSED BY LEARNED CIT(A). 6. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER HAS BEEN PRONOU NCED IN THE OPEN COURT ON 15 . 6 .2016 . SD/ - SD/ - (RAMLAL NEGI ) (B.R.BASKARAN ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 1 5 / 6/ 20 1 6 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. REGIS TRAR) ITAT, MUMBAI PS