ACIT CIR 1, THANE V. ARUN R. PATIL, THANE

ITA 2721/MUM/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4545 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 9 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 12-01-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 07-04-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 68

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN , AM AND AMARJIT SINGH , JM ./ I.T.A. NO . 1536 / MUM/ 201 1 ( / ASSESSMENT YEA R : 200 7 - 08 ) ARUN RAMKR ISHNA PATIL, C/O N A KULKARNI, ADS, 1 ST FLOOR, WADAL BUILDING, MANPADA ROAD, DOMBIVALI (E), DIST. THANE. / VS. ASSTT. COMMISSIONER OF INCOME TAX CIRCLE - 1 , IT ARSHART PARK, 6 TH FLOOR - A WING, Z ROAD, WAGLE INDUSTRIAL ESTATE, THANE(W), ( / APPELLANT ) .. ( / RESPONDENT ) ./ I.T.A. NO .2721/ MUM/ 2011 ( / ASSESSMENT YEA R : 2007 - 08 ) DY.COMMISSIONER OF INCOME TAX, CIRCLE - 1, VARDAAN BUILDING, LOWER GROUND FLOOR, WAGLE INDUSTRIAL ESTATE , MIDC, THANE - 400604 / VS. ARUN RAMKRISHNA PATIL, C/O N A KULKARNI, ADS, 1 ST FLOOR, WADAL BUILDING, MANPADA ROAD, DOMBIVALI (E), DIST. THANE. ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN. : AEXPP4578H / A SSESSEE BY NONE / RE VENUE BY SHRI GANESH BARE / DATE OF HEARING : 1 2 .1.20 16 / DATE OF PRONOUNCEMENT: 12 .1.2016 2721 /MUM/201 1 AND 1536/M/2011 2 / O R D E R P ER B R BASKAR AN,AM: THESE CROSS APPEALS ARE DIRECTED AGAINST THE ORDER DATED 13.12.2010 PASSED BY THE LD.CIT(A) - 2, THANE AND THEY RELATE TO THE ASSESSMENT YEAR 2007 - 08. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE EVEN THOUGH THE APPEALS WERE CLUBBED TOGETHER AT THE REQUEST OF THE ASSESSEES COUNSEL. HENCE, WE PROCEED TO DISPOSE OF THE APPEALS EX - PARTE, WITHOUT THE PRESENCE OF THE ASSESSEE. 3. WE HEARD THE LD. DR AND PERUSED THE RECORD. THE ASSESSEE FILED RETURN OF INCOME FOR THE YEAR UNDER CONSIDERATION DECLAR ING A TOTAL INCOME OF RS.15.69 LAKHS. THE ASSESSEE DERIVES INCOME FROM BUSINESS OF TRANSPORTATION, HIRING OF MACHINERIES. THE ASSESSEE IS ALSO A PARTNER IN TWO PARTNERSHIP FIRMS AND GETTING REMUNERATION THERE FROM . DURING THE YEAR UNDER CONSIDERATION, TH E ASSESSEE HAD INTRODUC ED A SUM OF RS.29 LAKHS IN HIS CAPITAL ACCOUNT . THE ASSESSEE DID NOT FURNISH ANY EXPLANATION WITH REGARD TO THE SAME AND HENCE THE AO ASSESSED THE ABOVE SAID AMOUNT OF RS.29 LAKHS AS INCOME OF THE ASSESSEE U/S 68 OF THE IT ACT. 4 . BEFORE THE LD.CIT ( A), THE ASSESSEE SUBMITTED EVIDENCES SHOWING THE SOURCES TO THE EXTENT OF RS.23 LAKHS AND HENCE THE LD.CIT(A) GRANTED RELIEF TO THAT EXTENT AND CONFIRMED THE BALANCE AMOUNT OF RS.6 LAKHS. AGGRIEVED BY THE DECISION OF LD.CIT(A), BOTH THE PARTIES HAVE FILED THESE APPEALS BEFORE US. 5 . SO FAR AS THE APPEAL FILED BY THE REVEN UE IS CONCERNED, THE QUANTUM IN DISPUTE IS RS.23 LAKHS AND THE TAX EFFECT INVOLVED THEREIN IS LESS THAN 2721 /MUM/201 1 AND 1536/M/2011 3 RS.10 LAKHS. IN VIEW OF THE CIRCULAR ISSUED BY CBDT BEARING NO. 21/2015 DATED 10.12.2015 PRESCRIBING NEW MONETARY LIMIT OF RS.10.00 LAKHS FOR PREFERRING APPEAL AGAINST THE ORDERS PASSED BY LD CIT(A) BEFORE THE TRIBUNAL, THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL BY THE REVENUE. ACCORDINGLY, WE DISMISS THE SAME . 6 . IN THE APPEAL FILED BY THE ASSESSEE, THE ADDITION OF RS.6 LAKHS CONFIRMED BY THE LD. CIT(A) IS BEING CHALLENGED. BEFORE THE LD. CIT(A), THE ASSESSEE HAS SUBMITTED THAT THE AMOUNT OF RS.6 .00 LAKHS REPRESENT S THE AMOUNT OF SECURITY DEPOSITS RECEIVED FROM THE TRUCK DRIVERS . H OWEVER, THE ASSESSEE COULD NOT FURNISH ANY EVIDENCE TO SUBSTANTIATE HIS CLAIM AND HENCE THE LD. CIT(A) REJECTED THE SAID EXPLANATION OF THE ASSESSEE. 7 . BEFORE US, ALSO THE ASSESSEE DID NOT FURNISH ANY EVIDENCE TO SUPPORT H IS CO NTENTION S . ACCORDINGLY, WE ARE OF THE VIEW THAT THE LD. CIT(A) WAS JUSTIFIED IN CONFIRMING THE ADDITION TO THE EXTENT OF RS.6 .00 LAKHS. 8 . IN THE RESULT, BOTH THE APPEALS FILED BY THE RESPECTIVE PARTIES ARE DISMISSED. PRONOUNCED ACCORDINGLY ON 12TH JAN UARY , 2016 . 12 TH JANUARY, 2016 SD S D ( AMARJIT SINGH ) ( B.R. BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI: 12TH JANUARY, 201 6 . . . ./ SRL , SR. PS 2721 /MUM/201 1 AND 1536/M/2011 4 / CO PY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - CONCERNED 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI CONCERNED 6. / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) , /ITAT, MUMBAI