RAVI GEHI (HUF), MUMBAI V. ACIT 24(3), MUMBAI

ITA 2057/MUM/2017

• Counselvise Citation: [2018] 112 COUNSELVISE.COM (IT) 5161 (ITAT-MUMBAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-10-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2009-2010
• Appeal Filed On: 23-03-2017
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D , MUMBAI BEFORE S HRI G.S. PANNU (AM) AND SHRI RAM LAL NEGI (JM) ITA NO. 2057 /MUM/2017 ASSESSMENT YEAR: 2009 - 10 M/S RAVI GEHI HUF, FLAT NO. 21, PLOT NO. 220, TRIVENI APARTMENTS, CANDELLA ROAD, MAHIM , MUMBAI 4000016 P AN : AAEHR4071G VS. THE ASSISTANT COMMISIONER OF INCOME TAX - 24(3), PIRAMAL CHAMBERS, LALBAUG, PAREL, MUMBAI - 400012 (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SHRI SARAVANAN ( SR. DR ) DATE OF HEARING: 03 /10 /201 8 DATE OF PRONOUNCEMENT: 03 / 10 /201 8 O R D E R PER RAM LAL NEGI, JM THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER DATED 19.01.2017 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 36 (FOR SHORT THE CIT(A) , MUMBAI, FOR THE ASSESSMENT YEAR 2009 - 10, WHEREBY THE LD. CIT(A) HAS DISMISSED THE APPEAL FILED BY THE ASSESSEE AGAINST THE ASSESSMENT ORDER PASSED BY AO U/S 143 (3) R.W.S 147 OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT). 2. AGGRIEVED BY THE ORDER OF LD. CIT (APPEAL S ), THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL ON THE FOLLOWING EFFECTIVE GROUNDS : - 1. THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) - 36 HAS ERRED IN LAW AND IN FACTS IN CONFIRMING ADDITI ON OF RS. 10,00,000/ - MADE BY LEARNED ASSESSING OFFICER AS DEEMED DIVIDEND U/S 2(22)(E) OF THE INCOME TAX ACT WITHOUT APPRECIATING THE FACT THAT AMOUNT WAS PAID AS TRADE ADVANCE TOWARDS PURCHASE OF CAPITAL RIGHTS IN FLAT NO. 605, WING A, AT CTS NO. 186B, O FF TUNGA VILLAGE, SAKI VIHAR ROAD, KURLA (W), 2 ITA NO. 2057 / MUM/2017 ASSESSMENT YEAR: 2009 - 10 MUMBAI FOR WHICH DOCUMENTARY EVIDENCES WERE PLACED ON RECORD. 2. WITHOUT PREJUDICE TO GROUND NO. 1, THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) 36 HAS ERRED IN LAW IN CONFIRMING ADDITION OF RS. 10,00,000/ - M ADE BY LEARNED ASSESSING OFFICER AS DEEMED DIVIDEND U/S 2(22)(E) OF THE INCOME TAX DESPITE THE FACT THAT THE APPELLANT HUF IS NOT A REGISTER SHAREHOLDER AND IT WAS NOT POSSIBLE TO DETERMINE WHETHER THE KARTA WAS ENTITLED TO NOT LESS THAN 20% OF THE INCOME OF THE APPELLANT HUF. 3. ON THE FACTS AND CIRCUMSTNACES OF THE CASE AND IN LAW, THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - 36 HAS ERRED IN CONFIRMING THE LEVY OF INTEREST U/S 234A OF RS. 48,272/ - U/S 234B OF RS. 4,34,448/ - & 234C OF RS. 28,770/ - BY THE AO. 4. ALL THE GROUNDS OF APPEAL ARE INDEPENDENT AND WITHOUT PREJUDICE TO EACH OTHER. 3 . CASE WAS CALLED OUT FOR HEARING, HOWEVER, NONE APPEARED ON BEHALF OF THE ASSESSEE. WE NOTICED THAT THE ASSESSEE HAS MOVED AN APPLICATION FOR PERMISSION TO WITHDRAW THE PRESENT APPEAL . THE LD. DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT THE REVENUE HAS NO OBJECTION IN CASE THE ASSESSEE IS ALLOWED TO WITHDRAW THE PRESENT APPEAL. 4 . IN THE LIGHT OF THE AFORESAID FACTS, WE ALLOW THE APPLICATION FILED BY THE ASSESSEE AND DISM ISS THE PRESENT APPEAL AS WITHDRAWN. IN THE RESULT, APPEAL FILED BY THE ASSESSEE FOR A SSESSMENT YEAR 2009 - 10 IS DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN THE OPEN COURT ON 3 RD OCTOBER , 2018 . SD/ - SD/ - ( G.S. PANNU ) ( RAM LAL NEGI ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 03 / 10 / 2018 ALINDRA, PS 3 ITA NO. 2057 / MUM/2017 ASSESSMENT YEAR: 2009 - 10 / COPY OF THE ORD ER 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