AMAR TIMBER TRADING CO, MUMBAI V. ITO 17(1)(2), MUMBAI

ITA 1999/MUM/2015

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 6737 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-06-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 08-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: N HEMALATHA LD DR

Judgement Text

ITA.NO.1999/MUM/2015 AMAR TIMBER TRADING COMPANY ASSESSMENT YEAR-2010-11 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM I.T.A. NO.1999/MUM/2015 ( ASSESSMENT YEAR:2010-11) AMAR TIMBER TRADING COMPANY GALA NO.39,SANT SAVTA MARG MUSTAFA BAZAR MUMBAI-400 008 VS. INCOME TAX OFFICER - 17(1)(2) NOW ITO-20(1)(2) MUMBAI ! ' PAN/GIR NO. AAMFA-8330-P ( !# APPELLANT ) : ( $%!# RESPONDENT ) ASSESSEE BY : NONE REVENUE BY : N. HEMALATHA, LD. DR & DATE OF HEARING : 24/05/2018 '() / DATE OF PRONOUNCEMENT : 27/06/2018 O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2010-11 CONTEST THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS)-32 [CIT(A)], MUMBAI, APPEAL NO. CIT(A)-32/IT-131/17(1)(2)/2013-14 DATED 08/01/2015 QUA CONFIRMATION OF CERTAIN ADDITIONS. NONE HAS APPEARE D FOR ASSESSEE DESPITE NOTICE AND NO ADJOURNMENT APPLICATION IS ON RECORD. LEFT WITH NO OPTION, WE PROCEED TO DISPOSE-OFF THE APPEAL ON THE BASIS OF MATERIAL ITA.NO.1999/MUM/2015 AMAR TIMBER TRADING COMPANY ASSESSMENT YEAR-2010-11 2 AVAILABLE ON RECORD AND AFTER HEARING LD. DEPARTMEN TAL REPRESENTATIVE, MS. N.HEMALATHA. 2. THE FOLLOWING ADDITIONS AS CONFIRMED BY LD. CIT( A) ARE IN DISPUTE BEFORE US:- 3. THE PERUSAL OF ORDER OF FIRST APPELLATE AUTHORIT Y REVEALS THAT THE ASSESSEE NOT ONLY FAILED TO PRODUCE THE SUPPLIERS B EFORE LOWER AUTHORITIES TO CONFIRM THE PURCHASE TRANSACTIONS BUT ALSO FAILED T O SUBSTANTIATE THE PURCHASES WITH SUPPORTING DOCUMENTS. SIMILARLY, THE ADDITION AGAINST UNSECURED LOANS HAS BEEN CONFIRMED SINCE THE ASSESS EE FAILED TO PROVE THE IDENTIFY, CREDITWORTHINESS AND GENUINENESS OF THE L ENDERS BEFORE THE LOWER AUTHORITIES. THE ADDITION U/S 40(A)(IA) HAS BEEN CO NFIRMED SINCE NO PLAUSIBLE EXPLANATION IN THIS REGARD COULD BE FURNISHED BY TH E ASSESSEE. WE FIND THAT THE FIRST APPELLATE AUTHORITY HAS ARRIVED AT THE AB OVE CONCLUSION WITH DUE APPLICATION OF MIND AFTER CONSIDERING THE FACTUAL M ATRIX. THEREFORE, FINDING THE SAME TO BE REASONABLE ONE, WE SEE NO REASON TO INTERFERE WITH THE SAME. 4. RESULTANTLY, THE ASSESSEES APPEAL STAND DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH JUNE, 2018 NO. PARTICULARS AMOUNT (RS.) 1. PURCHASES MADE FROM THREE PARTIES 2,29,511/- 2. UNSECURED LOANS RECEIVED DURING THE YEAR 1,92,99 5/- 3. ADDITION U/S 40(A)(IA) FOR WANT OF TAX DEDUCTION AT SOURCE ON FREIGHT PAYMENTS 2,23,180/- TOTAL 6,45,686/- ITA.NO.1999/MUM/2015 AMAR TIMBER TRADING COMPANY ASSESSMENT YEAR-2010-11 3 SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 27.06.2018 SR.PS:-THIRUMALESH 2 COPY OF THE ORDER FORWARDED TO : 1. 345 67 2 THE APPELLANT 2. ;<67 2 THE RESPONDENT 3. @A@ BCD345 E 2 THE CITDAE 4. @A@ BC 2 CIT CONCERNED 5. LMNO5;CPQ @A345 R3PQAS 2 DR ITAT MUMBAI 6. OTUV 2 GUARD FILE '# $ %'&/ BY ORDER (/%)'*+,-'& DDY.2ASSTT.REGISTRARE *&-.*/0&12 / ITAT2 MUMBAI