HEMANT KUMAR GODARA, MUMBAI V. JT CIT (OSD) 15(1), MUMBAI

ITA 3458/MUM/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4095 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: H
• Assessment Year: 2005-2006
• Appeal Filed On: 15-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIJAY KOTHARI

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN, AM AND PAWAN SINGH, JM ./ I.T.A. NO . 345 7 / MUM/ 2014 ( / ASSESSMENT YEA R : 2005 - 06 ) SHRI HEMANT K UMAR GODARA, MOHANLAL JAIN AND CO, CHARTERED ACCOUNTS, OFFICE NO.10, CHARTERED HOUSE GROUND FLOOR, DR C H STREET M ARINE LINES, MUMBAI - 400002 / VS. JT.COMMISSIONER OF INCOME TAX (OSD) 15(1), MUMBAI. ( / APPELLANT ) .. ( / RE SPONDENT ) ./ I.T.A. NO .3458/ MUM/ 2014 ( / ASSESSMENT YEA R : 2005 - 06 ) SHRI HEMANT KUMAR GODARA, MOHANLAL JAIN AND CO, CHARTERED ACCOUNTS, OFFICE NO.10, CHARTERED HOUSE GROUND FLOOR, DR C H STREET MARINE LINES, MUMBAI - 400002 / VS. JT.COMMISSIONER OF INCOME TAX (OSD) 15(1), MUMBAI. ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN. : AEEPG4083M / APPELLANT BY SHRI VIJAY KOTHARI / RESPONDENT BY SHRI ABHISHEK SHARMA / DATE OF HEARING : 18.1 . 201 6 / DATE OF PRONOUNCEMENT: 03. 2 . 201 6 / O R D E R P ER B R BASKARAN, AM : BOTH THE APPEALS FILED BY THE ASSESSEE AR E DIRECTED AGAINST THE ORDER S PASSED BY THE LD. CIT(A) - 26, MUMBAI AND THEY RELATE TO THE ASSESSMENT YEAR 2005 - 06. 3457/MUM/ 2014 AND 3458/M/2014 2 2 . THE APPEAL NUMBERED AS 3457/MUM/2014 RELATES TO QUANTUM ASSESSMENT PROCEEDINGS AND APPEAL NUMBERED AS 3458/MUM/2014 RELATES TO PENALTY PRO CEEDINGS. 3 . WE HEARD THE PARTIES AND PERUSED THE RECORD. AT THE TIME OF HEARING, THE LD.AR DID NOT PRESS THE GROUND NO.1 URGED IN THE QUANTUM ASSESSMENT. THEREFORE, THE SAME IS DISMISSED AS NOT PRESSED . 4 . T HE LD.AR SUBMITTED THAT THE G ROUNDS NO.2, 4 AND 5 ARE COVERED BY THE ORDER OF TRIBUNAL PASSED IN ITA NO.4185/MUM/2013 IN THE ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2004 - 05. WITH REGARD TO GROUND NO.3 RELATING TO CASH CREDIT ADDITION OF RS.1,10,775/ - , THE LD. AR SUBMITTED THAT THE ASSESSEE HAS FU RNISHED NECESSARY DETAILS BEFORE THE LD. CIT(A) BUT THEY HAVE NOT BEEN EXAMINED PROPERLY . 5. ON THE CONTRARY, THE LD DR SUBMITTED THAT ALL THE ISSUE S MAY BE RESTORED TO THE FILE OF THE AO IN ORDER TO EXAMINE ABOUT THE APP LIC ABILITY OF ORDER PASSED BY T HE TRIBUNAL IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEAR 2004 - 05 AND ALSO FOR EXAMINING THE DOCUMENTS RELATING TO CASH CREDIT AFRESH. 6. HAVING CONSIDERED THE RIVAL CONTENTIONS, WE ARE OF THE VIEW THAT ALL THE ISSUE S REFERRED ABOVE NEED TO BE EXAMINED AFRESH AT THE END OF THE AO IN THE LIGHT OF THE ORDER PASSED BY THE TRIBUNAL IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEAR 2004 - 05 (REFERRED SUPRA) AND ALSO BY CONSIDERING THE DOCUMENTS RELATING TO CASH CREDIT ADDITION. ACCORDINGLY, WE SET ASIDE THE ORD ER OF LD CIT(A) AND RESTORE ALL THE MATTERS REFERRED ABOVE TO THE FILE OF THE AO WITH THE DIRECT ION TO EXAMINE THE SAME AFRESH BY DULY CONSIDERING THE INFORMATION AND EXPLANATION S THAT WERE ALREADY FILED BEFORE THE AO AND ANY OTHER INFORMATION THAT MAY BE FILED BY THE ASSESSEE BEFORE HIM IN THE SET ASIDE PROCEEDINGS . THE ASSESSEE IS ALSO DIRECTED TO 3457/MUM/ 2014 AND 3458/M/2014 3 EXTEND FULL CO - OPERATION BY FURNISHING ALL THE INFORMATION AND EXPLANATION S THAT MAY BE CALLED FOR BY THE AO. 7. SINCE ALL T HE ISSUE S RELATING TO QUANTUM ASSES SMENT PROCEEDINGS IS SET ASIDE TO THE FILE OF THE AO , T HE PENALTY ORDER PASSED BY THE TAX AUTHORITIES WILL NOT SURVIVE OF ITS OWN. ACCORDINGLY, WE DISMISS THE ORDER OF LD CIT(A). HOWEVER, T HE AO IS FREE TO TAKE HIS OWN DECISION ABOUT INITIATION OF PENALT Y PROCEEDINGS IN THE SET ASIDE PROCEEDINGS. 8. IN THE RESULT, BOTH THE APPEAL S ARE TREATED AS ALLOWED FO R STATISTICAL PURPOSES. PRONOUNCED ACCORDINGLY ON 3 RD FEB , 2 01 6 . 3RD FEB, 2 01 6 S D SD ( PAWAN SINGH ) ( B.R. BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI: 3RD FEB , 2 01 6 . . . ./ SRL , SR. PS / COPY 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, T RUE COPY (ASSTT. REGISTRA R) , /ITAT, MUMBAI