Appeal details
Counselvise Citation
[2014] 120 COUNSELVISE.COM (IT) 6683 (ITAT-MUMBAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 year(s) 5 month(s) 11 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
19-06-2014
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
G
Assessment Year
2009-2010
Appeal Filed On
07-01-2013
Judgement Text
, IN THE INCOME TAX APPELLATE TRIBUNAL G B ENCH, MUMBAI . , !'# $ $ $ $ , %& '()* , %+ ,- % # BEFORE SHRI D.MANMOHAN, VICE PRESIDENT AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ./ I.T.A. NO.203/MUM/2013 ( . . . . / ASSESSMENT YEAR :2009-10 THE ACIT, RANGE 3(3), MUMBAI / VS. M/S. YANG MING LINE PVT. LTD. 131, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI-400 005 -/ %+ ./ 0 ./ PAN/GIR NO. : AAACY 2172N ( /1 / APPELLANT ) .. ( 23/1 / RESPONDENT ) /1 4 % / APPELLANT BY: CAPT PRADEEP ARYA 23/1 5 4 % / RESPONDENT BY: SHRI NEETU ANSHANI 5 6+ / DATE OF HEARING :19.06.2014 7. 5 6+ / DATE OF PRONOUNCEMENT :19.06.2014 ,%8 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-7, MUMBAI DT.28.9..2012 PERTAINING TO A.Y. 2009-10. 2. THE SHORT GRIEVANCE OF THE REVENUE IS THAT THE L D. CIT(A) ERRED IN DELETING THE DISALLOWANCE OF RS. 11,85,317/- MADE B Y THE AO ON ACCOUNT OF AIR INFORMATION. ITA NO. 203/M/2013 2 3. THE ASSESSEE IS IN THE BUSINESS OF SHIPPING AGEN CY. RETURN FOR THE YEAR WAS FILED ON 24.9.2009 DECLARING TOTAL INCOME AT RS. 15,81,000/-. THE RETURN WAS SELECTED FOR SCRUTINY ASSESSMENT AND STATUTORY NOTICES WERE ISSUED AND SERVED UPON THE ASSESSEE. 4. DURING THE COURSE OF THE SCRUTINY ASSESSMENT PRO CEEDINGS, THE ASSESSEE WAS CONFRONTED WITH THE AIR INFORMATION AN D THE COPY OF ITS DETAILS WERE PROVIDED TO THE ASSESSEE. THE ASSESSEE WAS ASKED TO EXPLAIN WHY RECEIPTS OF RS. 11,85,317/- HAS NOT BEEN SHOWN AS INCOME. ON RECEIVING NO JUSTIFIABLE RECONCILIATION, THE AO ADD ED RS. 11,85,317/- TO THE TOTAL INCOME OF THE ASSESSEE. 5. THE ASSESSEE CARRIED THE MATTER BEFORE THE LD. C IT(A). BEFORE THE LD. CIT(A), IT WAS STRONGLY CONTENDED THAT THE ASSE SSEE HAS FILED ITS RETURN OF INCOME ON THE BASIS OF ITS BOOKS OF ACCOUNTS AND SPECIFICALLY STATED THAT IT DOES NOT HAVE ANY TRANSACTION OF THE ALLEGE D AMOUNT FROM THE PARTIES MENTIONED IN THE AIR INFORMATION NOR THE AS SESSEE HAS RECEIVED ANY TDS CERTIFICATE FROM THE SAID PARTIES. IT WAS FURTHER POINTED OUT THAT IN THE SAID AIR INFORMATION THE ASSESSEES NAME IS ALSO MENTIONED. IT WAS CLAIMED THAT HOW COULD ASSESSEE RECEIVE INCOME FROM ITSELF. HOWEVER, CONSIDERING THE FACTS AND THE SUBMISSIONS, THE LD. CIT(A) OBSERVED THAT ASSESSEES ACCOUNTS ARE DULY AUDITED IN COMPLIANCE WITH THE PROVISIONS OF COMPANYS ACT, 1956. FURTHER AS PRESCRIBED BY SEC. 44AB OF THE ACT, THE ASSESSEES AUDITORS FINALIZED ITS BOOKS OF ACCO UNTS WHICH REFLECTS THE RECEIPTS AND PAYMENTS IN ACCORDANCE WITH THE PROVIS IONS OF THE COMPANIES ACT AND I.T. ACT. THE LD. CIT(A) ALSO DO UBTED TO THE CORRECTNESS OF THE AIR INFORMATION WHICH CONTAINS T HE NAME OF THE ASSESSEE ALSO. THE LD. CIT(A) FURTHER OBSERVED THA T THE ASSESSEE HAS DISCLOSED TURNOVER OF RS. 17.15 CRORES. THE LD. CI T(A) WAS NOT ITA NO. 203/M/2013 3 CONVINCED THAT THE ASSESSEE COMPANY WILL NOT DISCLO SE RECEIPTS OF RS. 11.85 CRORES. IN ABSENCE OF ANY COGENT EVIDENCE OR DOCUMENTS, THE LD. CIT(A) DELETED THE ADDITION MADE BY THE AO. 6. AGGRIEVED BY THIS, THE REVENUE IS BEFORE US. 7. THE LD. DEPARTMENTAL REPRESENTATIVE RELIED UPON THE FINDINGS OF THE AO. EVEN BEFORE US, THE LD. DR COULD NOT BRING ANY COGENT MATERIAL EVIDENCE WHICH COULD SUGGEST THAT THE ASSESSEE HAS NOT DISCLOSED RECEIPTS OF RS. 11.85 LAKHS. WE, THEREFORE, DECLINE TO INTE RFERE WITH THE FINDINGS OF THE LD. CIT(A). 8. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 19TH JUNE, 2014. . ,%8 5 . +% 9 :, ; 19.6.2014 5 < SD/- SD/- (D.MANMOHAN ) (N.K. BILLAIYA) !'# /VICE PRESIDENT %+ ,- / ACCOUNTANT MEMBER MUMBAI; :, DATED 19.6.2014 . . ./ RJ , SR. PS ITA NO. 203/M/2013 4 ,%8 ,%8 ,%8 ,%8 5 55 5 26' 26' 26' 26' =%'.6 =%'.6 =%'.6 =%'.6 / COPY OF THE ORDER FORWARDED TO : 1. /1 / THE APPELLANT 2. 23/1 / THE RESPONDENT. 3. > ( ) / THE CIT(A)- 4. > / CIT 5. '?< 26 , , / DR, ITAT, MUMBAI 6. < @ / GUARD FILE. ,%8 ,%8 ,%8 ,%8 / BY ORDER, 3'6 26 //TRUE COPY// ! !! ! / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI
