LINE-ONE TRADING PVT. LTD., THANE V. ITO - 2(5) THANE, THANE

ITA 2847/MUM/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 3876 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 20-04-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SATISH CHANDRA RAJORE
• Keywords: Unexplained cash credit; Share purchase agreement; Opportunity of being heard; Additional evidence
• Section: 143(3); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A MUMBAI BEFORE SHRI JOGINDER SINGH ( VICE PRESIDENT ) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) ITA NO. 2847/MUM/2017 ASSESSMENT YEAR: 2012 - 13 M/S LINE - ONE TRADING PVT. LTD. 601, HITAKSHI HEIGHTS, INDRA LOK PHASE - 6 , BHAYANDER EAST, THANE - 401105 VS. INCOME TAX OFFICER, 2(5), MUMBAI. PAN NO. AACCL2001K APPELLANT RESPONDENT ASSESSEE BY : MR. NEELKANTH KHANDELWAL, AR REVENUE BY : MR. SATISHCHANDRA RAJORE, DR DATE OF HEARING : 14 /11/2018 DATE OF PRONOUNCEMENT : 30/01/2019 ORDER PER N.K. PRADHAN, AM THIS IS AN APPEAL FILED BY THE ASSESSEE . THE RELEVANT ASSESSMENT YEAR IS 2012 - 13 . THE APPEAL IS DIRECTED AGAINST THE ORDER OF THE COMMISS IONER OF INCOME TAX (APPEALS) - 3 , THANE [IN SHORT CIT(A)] AND ARISES OUT OF THE ASSESSMENT COMPLETED U/S 143(3) OF THE INCOME TAX ACT 1961, (THE ACT). M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 2 2. THE GROUND OF APPEAL FILED BY THE ASSESSEE READ S AS UNDER: ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) ERRED IN ADDING THE SHARE CAPITAL MONEY OF RS.5,04,50,900/ - U/S 68 OF THE INCOME TAX ACT, 1961, WITHOUT CONSIDERING THE FACTS OF THE CASE. 3. BRIEFLY STATED, THE FACTS OF THE CASE ARE T HAT THE ASSESSEE - COMPANY FILED ITS RETURN OF INCOME FOR THE ASSESSMENT YEAR (AY) 2012 - 13 ON 30.09.2012 DECLARING TOTAL INCOME OF RS.1,540/ - . IT DERIVES INCOME FROM COMMISSION AND SERVICE CHARGES. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE ASSESSING O FFICER (AO) OBSERVED THAT DURING THE YEAR UNDER CONSIDERATION, THE ASSESSEE HAD RECEIVED SHARE CAPITAL/SHARE PREMIUM OF RS.5,04,50,000/ - , THE DETAILS ARE AS UNDER: NAME OF THE SHARE HOLDER NO. OF SHARES ALLOTTED FACE VALUE PREMIUM AMOUNT TOTAL AMOUNT ANUNEETA CORPORATION SERVICES PVT. LTD. SHOP NO. 16, 1 ST FLOOR, EVERSHINE MALL, MINDSCAPE LINK ROAD, MALAD (W), MUMBAI - 64 45,000 10 -- 4,50,000 KINGSTON INFOTECH PVT. LTD. 5, WESTON STREET, LAL BAZAAR, KOLKATA. 61, KALI KRISHNA TAGORE STREET, KOLKATA - 7 1000 10 9990 1,00,00,000 SKYKING INFRASTRUCTURE PVT. LTD. 4, RATAN SARKAR, GARDEN STREET, BURRA BAZAAR, KOLKATA - 7 500 10 9990 50,00,000 GOODLIFE DEALERS PVT. LTD. LALCHAND BUILDING, 1 ST FLOOR, 7/1A, GRANT LANE, KOLKATA - 12 500 10 9990 50,00,000 HIGHVIEW SALES PVT. LTD. LALCHAND BUILDING, 1 ST FLOOR, 7/1A, GRANT LANE, KOLKATA - 12 1000 10 9990 1,00,00,000 PANACHE DEALTRADE PVT. LTD. 8, NAYA PATTY ROAD, KOLKATA - 55 1000 10 9990 1,00,00,000 M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 3 PRAKRUTI COMMOSALES PVT. LTD. 74, JAMUNALAL BAJAJ STREET, KOLKATA - 7 1000 10 9990 1,00,00,000 TOTAL 50,000 5,09,940 5,04,50,000 THE AO FURTHER OBSERVED THAT THE ASSESSEE HAD ENTERED INTO AN AGREEMENT DATED 20.03.2012 WITH M/S KINGSTON INFOTECH PVT. LTD., M/S PANACHE DEALTRADE PVT. LTD., M/S PRAKRUTI COMMOSALES PVT. LT D., M/S SKRYKING INFRASTRUCTURE PVT. LTD., M/S GOODLIFE DEALERS PVT. LTD., M/S HIGHVIEW SALES PVT. LTD. AND M/S ANUNEETA CORPORATE SERVICES PVT. LTD. ON A NON - JUDICIAL STAMP PAPER OF RS.100/ - . THE CONTENTS OF THE AGREEMENT DATED 20.03.2012 ENTERED BY THE A SSESSEE WITH KINGSTON INFOTECH PVT. LTD., AS EXTRACTED BY THE AO IN THE ASSESSMENT ORDER ARE AS UNDER: 6.1.1 THE ASSESSES HAS ENTERED INTO AN AGREEMENT DATED 20.03.2012 WITH KINGSTON INFOTECH PVT LTD WHICH HAS BEEN PREPARED ON A NON - JUDICIAL STAMP PAPER RS.100/ - . THE CONTENTS OF THE AGREEMENT ARE AS UNDER: M/S LINE - ONE TRADING PRIVATE LIMITED A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT 601, HITAKSHIHIGHT, INDRALOK, FACE - 6, BHAYANDER (EAST), THANE - 401105 (WHICH EXPRESSION UNLESS OTHERWISE EXCLUDED OR REPUGNANT TO THE CONTEXT WOULD INCLUDE ITS SUCCESSORS, ADMINISTRATORS AND ASSIGNS HEREINAFTER REFERRED TO LTPL. AND M/S KINGSTON INFOTECH PRIVATE LIMITED A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT 61, KALI KRISHNA TAGORE STREET, KOLKATA 700007 (WHICH EXPRESSION UNLESS OTHERWISE EXCLUDED OR REPUGNANT TO THE CONTEXT WOULD INCLUDE ITS SUCCESSORS, ADMINISTRATORS AND ASSIGNS) HEREINAFTER REFERRED TO KIPL. M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 4 WHEREAS M/S KINGSTON IN FOTECH PRIVATE LIMITED HAS PROPOSED TO SELL THEIR INVESTMENT OF 1500 EQUITY SHARES OF GLORIOUS DEALMARK PRIVATE UNITED OF RS.15,00,000/ - (RUPEES FIFTEEN LACS ONLY) AND 8500 EQUITY SHARES OF GRADE VINTRADE PVT. LTD. OF RS.85,00,000/ - (RUPEES EIGHTY FIVE LAC S ONLY) AGGREGATING TO RS.1,00,00,000/ - (RUPEES ONE CRORE ONLY) TO M/S LINE - ONE PRIVATE LIMITED TO WHICH M/S LINE - ONE TRADING PRIVATE LIMITED HAS AGREED. AND WHEREAS IN CONSIDERATION OF THE ABOVE INVESTMENT M/S LINE - ONE TRADING PRIVATE LIMITED HAS PROPOSED TO ALLOT M/S KINGSTON INFOTECH PRIVATE LIMITED 1000 (ONE THOUSAND FULLY PAID UP EQUITY SHARES OF RS.10/ - EACH AT A PREMIUM OF RS.9990/ - TO WHICH M/S KINGSTON INFOTECHPRIVATE LIMITED HAS AGREED. NOW THIS INDENTURE WITNESS THAT 1. M/S LINE - ONE TRADING PRIVA TE LIMITED PURCHASES FROM M/S KINGSTON INFOTECH PRIVATE LIMITED 1500 EQUITY SHARES OF GLORIOUS DEALMARK PRIVATE LIMITED OF RS.15,00,000/ - (RUPEES FIFTEEN LACS ONLY) AND 8500 EQUITY SHORES OF GRADE VINTRADE PRIVATE LIMITED OF RS.85,00,000/ - (RUPEES EIGHTY F IVE LACS ONLY) AGGREGATING TO RS.1,00,00,000/ - (RUPEES ONE CRORE ONLY) TO M/S LINE - ONE TRADING PRIVATE LIMITED TO WHICH M/S LINE - ONE TRADING PRIVATE LIMITED HAS AGREED. 2. THAT IN CONSIDERATION OF THE ABOVE M/S LINE - ONE TRADING PRIVATE LIMITED SHALL FORTHW ITH TO ALLOT TO M/S KINGSTON INFOTECH PRIVATE LIMITED 1,000 (ONE THOUSAND) FULLY PAID - UP EQUITY SHARES OF RS.10/ - EACH IN THE NAME OF M/S KINGSTON INFOTECH PRIVATE LIMITED AT A PREMIUM OF RS.9990/ - EACH. FROM SUCH AGREEMENT, THE AO DERIVED A FINDING THAT WI THOUT INVOLVEMENT OF ANY MONIES/FUNDS, THE SHARE S AT PREMIUM HAVE BEEN MUTUALLY TRANSFERRED THROUGH BARTER SYSTEM. THE AO NOTED THE WORTH OF M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 5 THE ASSESSEE - COMPANY FROM THE FOLLOWING DATA CULLED OUT FROM ITS FINANCIALS: PARAMETERS AY 2012 - 13 (IN RS.) AY 2011 - 12 (IN RS.) SHARE CAPITAL 6,00,000 1,00,000 RESERVE & SURPLUS 4,99,50,347 (720) OTHER CURRENT LIABILITY 18,000 1,000 SHORT TERM PROVISIONS 478 -- FIXED ASSETS -- -- OTHER NON - CURRENT ASSETS 18,000 8,000 CURRENT INVESTMENTS 5,04,50,000 -- CASH & CASH EQUIVALENTS 1,00,825 92,280 REVENUE FROM OPERATIONS -- -- OTHER INCOME 16,290 3,600 PROFIT BEFORE TAX 1,545 (720) RETURNED INCOME 1,540 (720) THUS THE AO FOUND THAT RIGHT FROM THE INCORPORATION ON 20.07.2010 I.E. FOR FY 2010 - 11 RELEVANT TO THE AY 2011 - 12, AND ALSO FOR AY 2012 - 13, THE NET WORTH IS NEGLIGIBLE. ON A FACE VALUE OF SHARE AT RS.10, THE SHARE PREMIUM HAS BEEN ISSUED AT A PREMIUM OF RS. 9,990/ - . FURTHER, THE SHARE PREMIUM HAS BEEN EXCHANGED THROUGH A BARTER SYSTEM AS MENTIONED ABOVE. FURTHER THE AO OBSERVED THAT THE WORTH OF THE ASSESSEE - COMPANY IS NOT COMMENSURATE WITH THE SHARE PREMI UM ISSUED TO THE ABOVE ENTITIES. M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 6 THE AO, FURTHER N OTED THAT THE NET INCOME IS MEAGRE IN ALL THE CASES AND IS NOT COMMENSURATE WITH THE COMPANIES WHO COULD HAVE AFFORDED TO MAKE SUCH HUGE INVESTMENTS IN SHARES OF AN UNKNOWN AND UNLISTED COMPANY BY PAYMENT OF SUCH A HIGH PREMIUM IN EXCHANGE OF ITS OWN SHARE S TERMED UNDER BARTER SYSTEM. IN RESPONSE TO A QUERY RAISED BY THE AO, THE ASSESSEE FILED COPIES OF INCOME TAX RETURN OF INCOME OF THE INVESTORS FOR AY 2012 - 13 ALONG WITH AUDIT REPORT, BALANCE SHEET, PROFIT AND LOSS ACCOUNT. HOWEVER, NO BANK STATEMENT S W ERE PROVIDED TO THE AO OF THESE ENTITIES. FURTHER, THE ASSESSEE EXPLAINED TO THE AO THAT THE COMPANY DID NOT HAVE ANY BANK ACCOUNT DURING FY 2011 - 12 AND DUE TO SHORTAGE OF FUNDS, THE COMPANY COULD NOT DO TRADING BY INVESTING ITS OWN FUNDS. HOWEVER, THE CO MPANY HAS EARNED COMMISSION/SERVICE CHARGES FOR TRADE DONE IN CASH DURING THE FY 2011 - 12. TAKING NOTE OF THE FACT THAT THE ASSESSEE - COMPANY WAS NOT HAVING ANY BANK ACCOUNT DURING THE RELEVANT PERIOD, THE AO OBSERVED THAT THE BASIS OF VALUATION OF ITS SHARE OF FACE VALUE OF RS.10 ISSUED TO THE ABOVE INVESTORS AT AN ABNORMAL PRICE OF RS.9,990/ - , WAS WITHOUT ANY BASIS AND VALUATION. AS PER THE AO, THE SEVEN COMPANIES LACKED A CREDIT STANDING WHICH WOULD HAVE ENABLED THEM TO PAY LARGE AMOUNTS TOWARDS SHARE PREMIUM OF RS.9,990/ - ON A FACE VALUE OF RS.10 PER SHARE AND THAT NEITHER THE PAST PERFORMANC E NOR THE FINANCIAL STANDING OF THE ASSESSEE ITSELF WOULD JUSTIFY THE PAYMENT DONE SUCH A LARGE PREMIUM. THE AO THUS OBSERVED THAT NONE OF THE COMPANIES WAS HAVING A FINANCIAL STANDING OR CREDITWORTHINESS WHICH WOULD JUSTIFY MAKING OF SUCH A LARGE INVESTME NT M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 7 OF RS.5,04,50,000/ - AT A PREMIUM OF RS.9,990/ - . THE AO THUS CONCLUDED THAT IT WAS UNEXPLAINED CASH CREDIT AND BROUGHT THE AMOUNT OF RS.5,04,50,000/ - TO TAX U/S 68 OF THE ACT. 4. AGGRIEVED BY THE ORDER OF THE AO, THE ASSESSEE FILED AN APPEAL BEFORE THE LD. CIT(A). IN THE APPELLATE ORDER DATED 01.02.2017, THE LD. CIT(A) CONFIRMED THE ADDITION OF RS.5,04,50,000/ - MADE BY THE AO BY OBSERVING AS UNDER: SECTION 68 OF THE IT ACT PROVIDES THAT IF ANY AMOUNT IS FOUND CREDITED IN THE BOOKS OF ACCOUNTS OF THE AS SESSEE, THE ASSESSEE IS DIRECTED TO PROVE THE IDENTITY OF THE CREDITOR, CREDITWORTHINESS OF THE CREDITOR AND GENUINENESS OF THE TRANSACTION. ALL THESE THREE CONDITIONS ARE REQUIRED TO BE PROVED CUMULATIVELY AND NOT ALTERNATIVELY. THE ONUS LIES UPON THE APP ELLANT AND NOT ON THE ASSESSING OFFICER. IT IS THE APPELLANT WHO IS CLAIMING THE RECEIPT OF RS.5,04,50,000/ - BY WAY OF SHARE APPLICATION MONEY. THEREFORE, THE SHARE APPLICANTS WERE THE WITNESSES OF THE APPELLANT. THE AO ASKED THE APPELLANT TO PROVE THE GEN UINENESS OF SHARE APPLICATION MONEY WHICH THE APPELLANT FAILED TO PROVE EITHER BY SUBMITTING THEIR CONFIRMATION LETTER, COPY OF BANK STATEMENT, SHARE APPLICATION FORM, COPY OF FORM NO. 2B SUBMITTED TO ROC, COPY OF THE ALLOTMENT LETTERS OF THE SHARES AND BY NOT PRODUCING THE SHARE APPLICANTS IN PERSON BEFORE THE AO TO AFFIRM THAT THEY HAVE GIVEN SHARE APPLICATION MONEY. 5. BEFORE US, THE LD. COUNSEL OF THE ASSESSEE FILES AN APPLICATION SUBMITTING THAT THE ADDITIONAL EVIDENCE FILED BEFORE THE TRIBUNAL BE ADM ITTED AS THEY GO TO THE ROOT OF THE MATTER AND IF THE SAME ARE NOT ADMITTED IN DECIDING THE ISSUE, IT WOULD AMOUNT TO MISCARRIAGE OF JUSTICE. IN THIS REGARD RELIANCE IS PLACED BY HIM ON THE DECISION IN THE CASE OF CIT M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 8 V. TEXT HUNDRED INDIA (P) LTD . (2011) 197 TAXMAN 128 (DEL . ) AND CIT V. KUM. SATYA SETIA (1983) 15 TAXMAN 345 (MP). THE ADDITIONAL EVIDENCE FILED BY THE ASSESSEE COMPRISES OF (I) FORM - 2 FILED WITH ROC, (II) NAME OF SHAREHOLDERS AND CIN MASTER DATA FROM ROC , (III) CONFIRMATION OF SHAREHOLDERS , SHARE APPLICATION FORM, AGREEMENT BETWEEN THE SHAREHOLDERS, BOARD RESOLUTION, SHARE CERTIFICATE OF INVESTMENT RECEIPT, ITR ACKNOWLEDGEMENT AND ANNUAL REPORT OF (A) M/S KINGSTON INFOTECH PVT. LTD., (B) M/S SKYKING INFRASTRUCTURE PVT. LTD., (C) M/S GOODLIF E DEALERS PVT. LTD., (D) M/S HIGHVIEW SALES PVT. LTD., (E) M/S PANACHE DEALTRADE PVT. LTD., (F) M/S PRA KRUTI COMMOSALES PVT. LTD. AND (G) M/S ANUNEETA CORPORATE SERVICES PVT. LTD. 5.1 THE LD. COUNSEL FURTHER SUBMITS THAT NO ADDITION CAN BE MADE U/S 68 BASE D ON THE FACTS OF THE CASE IN HAND IN AS MUCH AS THERE IS NO MONEY THAT HAS COME IN ; IT IS ONLY THAT THE SUBSCRIBERS HAVE GIVEN THEIR RESPECTIVE INVESTMENTS THAT THEY ARE HOLDING AND IN TURN, THE ASSESSEE HAS ISSUED THEIR EQUITY SHARE CAPITAL TO THEM. IN THIS REGARD, RELIANCE IS PLACED BY HIM ON THE DECISION IN V.R. GLOBAL ENERGY (P.) LTD . 305 CTR (MAD) 228 AND KERALA TRANSPORT CO . 51 ITD 405. 6. ON THE OTHER HAND, THE LD. DR SUBMITS THAT THE LD. CIT(A) HAS RIGHTLY CONFIRMED THE ADDITION OF RS.5,04,50,000 / - MADE BY THE AO U/S 68 OF THE ACT. FURTHER, THE LD. DR RELIES ON THE DECISION OF THE HONBLE BOMBAY HIGH COURT DATED 10.04.2017 IN THE CASE OF SANJAY BIMAL CHAND JAIN V. PR. CIT (ITA NO. 18/2017) AND FILES A COPY OF IT. M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 9 7. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RELEVANT MATERIALS ON RECORD. THE REASONS FOR OUR DECISION ARE GIVEN BELOW. IT IS FOUND THAT THE ASSESSEE FAILED TO FILE BEFORE THE AO CERTAIN DOCUMENTS AS MENTIONED AT PARA 8.2 (PAGE 12 - 13) OF THE ASSESS MENT ORDER DATED 30.03.2015. WE ARE OF THE CONSIDERED VIEW THAT THE ADDITIONAL EVIDENCE FILED BY THE ASSESSEE WOULD HELP THE AO IN ARRIVING AT A PROPER FINDING. IN THE INTERESTS OF JUSTICE, W E ADMIT THE ADDITIONAL EVIDENCE FILED BY THE ASS ESSEE. WE ALSO AB IDE BY THE DECISION IN THE CASE OF SMT. URMILA RATILAL V. CIT , (1982) 136 ITR 797, 799 (GUJ); HIRALAL DEVDUTT JAGADHRI V. ADDL. CIT , (1980) 18 CTR (PUNJ) 96, 98 THAT WHERE AN ADDITIONAL EVIDENCE HAS BEEN ALLOWED TO BE ADDUCED, THE INTERESTS OF JUSTICE DEMA ND THAT THE OTHER SIDE MUST BE GIVEN AN OPPORTUNITY TO EXPLAIN OR REBUT SUCH ADDITIONAL EVIDENCE. IT IS WELL SETTLED THAT IN ORDER TO DISCHARGE THE ONUS U/S 68 OF THE ACT , THE ASSESSEE MUST PROVE THE FOLLOWING : (I) THE IDENTITY OF THE CREDITOR, (II) THE CAPACITY OF THE CREDITOR TO ADVANCE MONEY; AND (III) THE GENUINENESS OF THE TRANSACTION . AFTER THE ASSESSEE HAS ADDUCED EVIDENCE TO ESTABLISH PRIMA FACIE THE AFORESAID, THE ONUS SHIFTS TO THE DEPARTMENT. THE HON'BLE SUPREME COURT IN STATE OF KERALA VS. K.T. SHADULI GROCERY DEALER AIR 1977 SC 1627, RECOGNISED THE IMPORTANCE OF ORAL EVIDENCE BY HOLDING THAT THE OPPORTUNITY TO PROVE THE CORRECTNESS OR COMPLETENESS OF THE RETURN NECESSARILY CARRY WITH IT THE RIGHT TO EXAMINE M/S LINE - ONE TRADING ITA NO. 2847/MUM/2017 10 WITNESSES AND THAT INC LUDES EQUALLY THE RIGHT TO CROSS - EXAMINE WITNESSES. IN VIEW OF THE ABOVE FACTS OF THE CASE AND POSITION OF LAW, WE SET ASIDE THE ORDER OF THE LD. CIT(A) AND REMIT THE MATTER TO THE FILE OF THE AO TO MAKE A DE NOVO ORDER, AFTER EXAMINING THE AFORESAID PA RTIES AND ALLOWING THE ASSESSEE OPPORTUNITY TO CROSS - EXAMINE THEM. WE DIRECT THE ASSESSEE TO FILE THE RELEVANT DOCUMENTS/EVIDENCE BEFORE THE AO. NEEDLESS TO SAY, THE AO WOULD GIVE REASONABLE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE BEFORE FINALIZING THE ORDER. AS THE MATTER HAS BEEN RESTORED TO THE FILE OF THE AO TO MAKE A DE NOVO ORDER, WE ARE NOT ADVERTING TO THE CASE LAWS CITED BY BOTH THE SIDES. 8. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT 30/01/2019. SD/ - SD/ - ( JOGINDER SINGH ) (N.K. PRADHAN) VICE PRESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED: 30/01/2019 RAHUL SHARMA, SR. P.S. COPY OF THE ORDER 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// ( SR. PRIVATE SECRETARY ) ITAT, MUMBAI