MIHIR H. BILAKHIA, MUMBAI V. ITO 25(3)(1),

ITA 3471/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3914 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 18-08-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 03-05-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRAKASH L PATHADE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) & SHRI AMIT SHUKLA (JM) I.T.A. NO. 3471/MUM/2013 (ASSESSMENT YEAR 2005 - 2006) SHRI MIHIR H. BILAKHIA A - 502, GODS GRACE, ADARSH DUGDHALAYA COLONY, MALAD (W), MUMBAI 400 064. VS. I.T.O - 25(3)(1), MUMBAI. ( APPELLANT ) .. ( RESPONDENT ) PAN NO.AEZPB1087P ASSESSEE BY : NONE DEPARTMENT BY : SHRI PRAKASH L. PATHADE DATE OF HEARING : 12.04.2016 DATE OF PRONOUNCEMENT : 04 .05.2016 O R D E R PER B.R. BASKARAN, AM : THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DT. 27.2.2013 PASSED BY CIT(A) 35, MUMBAI FOR ASSESSMENT YEAR 2005 - 06 CONFIRMIN G PENALTY OF RS. 5,83,324/ - LEVIE D U/S 271(1)(C) OF THE INCOME TAX ACT, 1961. 2. NON E APPEARED ON BEHALF OF THE ASSESSEE EVEN THOUGH THE CASE WAS AD JOURNED ON THE EARLIER OCCASION AT THE REQUEST OF THE ASSESSEE. HENCE, WE PROCEED TO DISPOSE OF THE APPEAL EX PARTE , WITHOUT THE PRESENCE OF THE ASSESSEE. 2 SHRI MIHIR H. BILAKHIA ITA NO. 3471/MUM/2013 3. WE HEARD THE LD. DR AND PERUSED THE RECO RD. WE NOTICE THAT THE PENALTY HAS BEEN LEVIED ON THE ADDITION OF RS.17,02,748/ - RELATING TO THE CASH DEPOSIT FOUND IN THE BANK ACCO UNT OF THE ASSESSEE. WE NOTICE THAT THE ASSESSEE DID NOT EXPLAIN THE SOURCES FOR THE BANK DEPOSITS AND HENCE HE DI D NOT SUCCEED IN THE APPEAL BEFORE THE LD. CIT(A) IN THE QUANTUM ASSESSMENT PROCEEDINGS. THESE FACTS HAVE BEEN NOTED BY THE LD. CIT(A) , AND ACCORDINGLY HE TOOK THE VIEW THAT THE ASSESSEE HAS CONCEALED PARTICULARS OF INCOME, AND ACCORDINGLY CONFIRMED THE P ENALTY ORDER. 4. SINCE THE ASSESSEE HAS FAILED TO EXPLAIN THE SOURCES FOR MAKING THE BANK DEPOSITS, AND SINCE THE ASSESSEE HAS FAILED TO FURNISH ANY EXPLANATION S DURING THE PENALTY PROCEEDINGS ALSO, WE ARE OF THE VIEW THAT THE LD. CIT(A) WAS JUSTIFIED IN CONFIRMING THE PENALTY LEVIED U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961. ACCORDINGLY, WE CONFIRM THE ORDER OF LD. CIT(A). 5. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 4 T H MAY, 2016. SD/ - SD/ - (AMIT SHUKLA) (B.R.BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 4 T H MAY, 2016 *SSL* COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 3 SHRI MIHIR H. BILAKHIA ITA NO. 3471/MUM/2013 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI