MUKESH CHOKSI, MUMBAI V. ACIT (OSD-1) CEN RG 7, MUMBAI

ITA 2695/MUM/2013

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 7896 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 8 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Next Hearing Date: 23-02-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 08-04-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KUMAR LD DR
• Assessee Lawyers: MUKESH CHOKSI INPERSON
• Keywords: Accommodation entries
• Section: 143(3)

Judgement Text

ITA.NOS.2695 TO 2697/MUM/2013 MUKESH CHOKSI ASSESSMENT YEARS-2003-04 TO 2005-06 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI . . , , BEFORE SHRI D.T. GARASIA, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO.2695 TO 2697/MUM/2013 ( / ASSESSMENT YEARS: 2003-04 TO 2005-06) MUKESH CHO KS I BLOCK H, 6 TH ROAD SHRI SADASHIV CHS LIMITED SANTACRUZ(E) MUMBAI-400 055 / VS. ASSISTANT COMMISSIONER OF INCOME TAX (OSD-1) CENTRAL RANGE 7 ROOM NO.413,4 TH FLOOR AAYKAR BHAVAN, M.K.ROAD MUMBAI-400 020 ! ./ ./PAN/GIR NO. AAAPC-7767-J ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) ASSESSEE BY : MUKESH CHOKSI, ASSESSEE-IN-PERSON REVENUE BY : NARENDRA KUMAR, LD. DR (CIT) / DATE OF HEARING : 01/11/2017 / DATE OF PRONOUNCEMENT : 13/12 /2017 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEALS BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2003-04 TO 2005-06 CONTEST ORDER OF FIRST APPELLATE AUTHORITY QUA CONFIRMATION OF CERTAIN ADDITIONS. THE ASSESSEE, IN PERSON, AT THE OUTSET EXPRESSED WILLINGNESS TO WITHDRAW ITA NOS. 2696/MUM /2013 & ITA NO. 2697/MUM/2013 FOR AY 2005-06 & 2004-05 RESPECTIVELY ON THE PREMISES ITA.NOS.2695 TO 2697/MUM/2013 MUKESH CHOKSI ASSESSMENT YEARS-2003-04 TO 2005-06 2 THAT ADEQUATE RELIEF HAS ALREADY BEEN GRANTED TO TH E ASSESSEE BY THIS TRIBUNAL IN OTHER APPEALS. THE LD. DR RAISED NO OBJ ECTION AGAINST THE SAME. HENCE, BOTH THESE APPEALS STANDS DISMISSED IN LIMINE. 2. THE REMAINING ITA NO. 2695/MUM/2013 FOR AY 2003- 04 CONTEST THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS)-3 6 [CIT(A)], MUMBAI, APPEAL NO. CIT(A)-36/AP-151/12-13 DATED 31/01/2013 QUA CONFIRMATION OF CERTAIN ESTIMATED ADDITIONS AGAINST ACCOMMODATION ENTRIES. THE ASSESSMENT FOR IMPUGNED AY WAS FRAMED BY LD. ASSISTANT COMMISSIONER OF INCOME TAX (OSD-1) CENTRAL RANGE-7, MUMBAI [AO] U/S 143(3) READ WITH SECTION 153C OF THE INCOME TAX ACT,1961 ON 02/12/2008. 3. THE ASSESSEE, AT THE OUTSET POINTED OUT THAT THE MATTER STOOD PARTIALLY COVERED IN ASSESSEES FAVOR BY THE ORDER OF THIS TRIBUNAL FOR OTHER YEARS IN THE CASE OF ASSOCIATED CONCERNS OF T HE ASSESSEE WHERE THE ESTIMATION HAS BEEN MADE @0.15% OF THE ACCOMMOD ATION ENTRIES AGAINST WHICH 50% EXPENSES WERE ALLOWABLE TO THE AS SESSEE. THE LD. DR COULD NOT CONTROVERT THE SAME. 4. HEARD RIVAL CONTENTIONS AND PERUSED RELEVANT MAT ERIAL ON RECORD. UPON PERUSAL OF TRIBUNALS ORDER FOR VARIOUS YEARS AS PLACED ON RECORD, WE FIND THAT THE TRIBUNAL IN THE CASE OF THE ASSESS EE AS WELL AS HIS ASSOCIATED CONCERNS HAS ESTIMATED THE ADDITIONS @0. 15% OF THE ACCOMMODATION ENTRIES AND THE SAME RATE HAVE BEEN A DOPTED BY THE LOWER AUTHORITIES. THE ASSESSEE HAS CLAIMED EXPENDI TURE OF RS.59,334/- WHICH HAS BEEN ALLOWED TO THE EXTENT OF 20% BY LD. CIT(A). SINCE THE TRIBUNAL HAS ALLOWED EXPENSES TO THE EXTENT OF 50%, TAKING THE SAME ITA.NOS.2695 TO 2697/MUM/2013 MUKESH CHOKSI ASSESSMENT YEARS-2003-04 TO 2005-06 3 STAND, WE HOLD THAT THE ASSESSEE SHALL BE ELIGIBLE FOR EXPENSES TO THE EXTENT OF 50% I.E. RS.29,667/- 5. RESULTANTLY, ITA NOS. 2696 & 2697/MUM/2013 STAND S DISMISSED WHEREAS ITA NO. 2695/MUM/2013 STANDS PARTLY ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH DECEMBER, 2017. SD/- SD/- (D.T. GARASIA) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 13.12.2017 SR.PS:- THIRUMALESH ! / COPY OF THE ORDER FORWARDED TO : 1. !# / THE APPELLANT 2. $%!# / THE RESPONDENT 3. + ( ) / THE CIT(A) 4. + / CIT CONCERNED 5. $'- , - , / DR, ITAT, MUMBAI 6. . / GUARD FILE / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI