JAYESH C. JAIN, MUMBAI V. ITO 16(1)(4), MUMBAI

ITA 386/MUM/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93019 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: J
• Assessment Year: 2010-2011
• Appeal Filed On: 16-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PAVAN KUMAR BEER LA
• Assessee Lawyers: HASMUKH SHAH
• Keywords: Opportunity of being heard

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI . . , , BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND SHRI N.K . BILLAIYA, A CCOUNTANT M EMBER / I .T.A. NO . 386 /MUM/ 2014 ( / ASSESSMENT YEAR : 2010 - 11 SHRI JAYESH C. JAIN, BLOCK NO. 49, DEV CHHAYA CHS LTD., HAJI ALI, TARDEO ROAD, MUMBAI - 400 034 / VS. THE ITO 16(1)(4), MATRU MANDIR MUMBAI ./ ./ PAN/GIR NO. : AAAPK 9648K ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY: SHRI HASMUKH SHAH / RESPONDENT BY : SHRI PAVAN KUMAR BEERLA / DATE OF HEARING : 2 3 . 0 6 .2015 / DATE OF PRONOUNCEMENT : 2 3 .0 6 .2015 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE ASSESSEE IS PREFERRED AGAINST THE ORDER OF THE LD. CIT(A) - 27 , MUMBAI DT. 2 4 . 12 .201 3 PERTAINING TO ASSESSMENT YEAR 2010 - 11. ITA. NO. 386/M/2014 2 2. THE SOLE GRIEVANCE OF THE ASSESSEE IS THAT THE LD. CIT(A) ERRED IN GIVING DIRECTION TO THE AO TO DETERMINE THE ADDITION OF CASH IN HAND OF R S. 7,75,516/ - . 3. HEARD BOTH THE SIDES. WE HAVE CAREFULLY PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WE FIND THAT THE ASSESSEE HAS FILED RECTIFICATION LETTER BEFORE THE AO ALONGWITH RECTIFIED BALANCE SHEET. THE ASSESSEE HAS ALSO FILED REQUIRED BANK STATEMENT FOR ALL PREVIOUS YEARS WHICH WERE REQUIRED AT THE TIME OF ASSESSMENT. THE ASSESSEE HAS ALSO MADE AN APPLICATION UNDER RULE 46A BEFORE THE FIRST APPELLATE AUTHORITY. ALL THESE FACTS HAVE BEEN COMPLETELY IGNORED BY THE REVENUE AUTHORITIES. IN TH E INTEREST OF JUSTICE AND FAIR PLAY, WE RESTORE THIS ISSUE TO THE FILE OF THE AO FOR DENOVO ASSESSMENT IN RESPECT OF THIS ISSUE ONLY. THE ASSESSEE IS DIRECTED TO FILE ONCE AGAIN THE NECESSARY DETAILS BEFORE THE AO AND THE AO IS DIRECTED TO EXAMINE THE DETA ILS/DOCUMENTS FURNISHED BY THE ASSESSEE AND DECIDE THIS ISSUE AFRESH AFTER GIVING REASONABLE AND FAIR OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS TREATED AS ALLOWED FOR STATISTICAL PURPOSE. OR DER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON 2 3 RD JUNE , 2015 SD/ - SD/ - ( I.P. BANSAL ) (N.K. BILLAIYA) /JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED : 2 3 RD JUNE , 2015 . . ./ RJ , SR. PS ITA. NO. 386/M/2014 3 / 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// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI