PREMLEELA DEVELOPERS, MUMBAI V. DCIT 15(3), MUMBAI

ITA 3880/MUM/2017

• Counselvise Citation: [2018] 112 COUNSELVISE.COM (IT) 5953 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-12-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 26-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 142(1); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN , JM ITA NO. 3880 / MUM/20 1 7 ( ASSESSMENT YEAR : 2010 - 11 ) M/S. PREMLEELA DEVELOPERS B - 23, DATTANI TOWER S.V.ROAD, BORIVALI (W) MUMBAI 400 092 VS . DCIT 15(3) MUMBAI 400 051 PAN/GIR NO. AAFFP8017P ( APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY NONE REVENUE BY SHRI MANOJ KUMAR SINGH DATE OF HEARING 07 / 12 /201 8 DATE OF PRONOUNCEMENT 27 / 12 /201 8 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) - 44, MUMBAI DATED 29/04/2013 FOR THE A.Y.2010 - 11 IN THE MATTER OF ORDER PASSED U/S.143(3) OF THE IT ACT. 2. IN THIS APPEAL, ASSESSEE IS AGGRIEVED FOR ADDITION OF RS.6,64,26,012/ - U/S.68 AND ALSO ADDITION OF RS.1,68,09,390/ - ALLEGED UN ACCOUNTED SALES. 3. NOBODY APPEARED ON BEHALF OF ASSESSEE INSPITE OF GIVING SO MANY NOTICES BY THE TRIBUNAL. THE CASE WAS ORIGINALLY HEARD ON 26/09/2018, THEREAFTER T O GIVE MORE OPPORTUNITY, IT WAS PUT FOR CLARIFICATION ON ITA NO. 3880/MUM/2017 M/S. PRAMEELA DEVELOPERS 2 07/12/2018, HOWEVER, NOBODY APPEARED ON BEHALF OF ASSESSEE INSPITE OF RECEIPT OF NOTICES, ACCORDINGLY, BENCH DECIDED TO DISPOSE THE APPEAL AFTER CONSIDERING THE MATERIAL PLACED ON RECORD. 4. IN THE ORDER PASSED BY AO DATED 19/03/2013, AO OBSERVED THAT F ROM THE BALANCE - SHEET AS ON 31/03/2010, IT IS NOTICED THAT THE ASSESSEE HAS OBTAINED FRESH LOANS FROM VARIOUS PARTIES. THE AGGREGATE OF THE UNSECURED LOANS AS ON 31/03/2010 IS RS.28,57,71,130/ - . FROM T HE LIST OF LOANS GIVEN IN SCHEDULE 'A' OF THE BALANCE - SHEET, IT IS NOTICED THAT LOANS AGGREGATING TO RS.6,64,26,012/ - HAVE BEEN OBTAINED DURING THE RELEVANT PREVIOUS YEAR (THE LIST OF UNSECURED L OAN WAS COMPARED WITH THE LIST OF. UNSECURED LOANS IN THE IMM EDIATELY PRECEDING YEAR, I.E. A.Y.2009 - 10). THE LIST O F THE FRESH LOANS ALLEGEDLY OBTAINED DURING THE RELEVANT PREVIOUS YEAR, WAS ANNEXED BY AO AS ANNEXURE A TO HIS ORDER. AO OBSERVED THAT THE ASSESSEE HAS NOT EVEN FILED THE CONFIRMATION L ETTERS IN RESPEC T OF THESE LOANS. IT WOULD BE PERTINENT TO MENTION HERE THAT IN THE ASSESSMENTS FOR THE EARLIER ASSESSMENT YEARS, ADDITIONS HAVE BEEN MADE U/S 68 OF THE INCOME - TAX ACT, 1961 ON ACCOUNT OF THE FAILURE OF THE ASSESSEE TO PROVE THE IDENTITY/CRED I TWOR THINESS OF THE ALLEGED CREDITORS AND GENUINENESS OF THE TRANSACTION. IN THE INSTANT YEAR, THE ASSESSEE HAS N OT FILED EVEN THE CONFIRMATION LETTERS FROM THESE PARTIES. AO OBSERVED THAT EVEN THE IDENTITY OF SUCH ALLEGED CREDITORS HAS NOT BEEN ESTABLISHED EVE N AFTER VARIOUS OPPORTUNITIES ALLOWED. THE ASSESSE E HAS FAILED TO DISCHARGE THE PRIMARY ONUS THAT IS CAST UPON IT. AO ALSO FOUND THAT SALES ITA NO. 3880/MUM/2017 M/S. PRAMEELA DEVELOPERS 3 OF RS. 1,68,09,390/ - WAS NOT RECORDED IN THE BOOKS OF ACCOUNTS, WHICH ARE APPEARING AS PER THE AIR DATA. ACCORDINGL Y, AO HAS GIVEN VARIOUS OPPORTUNITIES TO THE ASSESSEE TO EXPLAIN THE SAME BY ISSUE OF NOTICES U/S.142(1) ON 25/06/2012, 142(1) DATED 18/07/2012 AND 31/07/2012, 04/09/2012, 05/10/2012 AND 12/10/2010. WE ALSO FOUND THAT FRESH NOTICE WAS ISSUED BY AO U/S.142 (1) FOR APPEARING ON 21/01/2013. HOWEVER, THERE WAS NO COMPLIANCE OF NOTICE SO ISSUED, THEREAFTER, AO ALSO LEVIED PENALTY U/S.271(1)(B) FOR NON - APPEARANCE. 5. WE ALSO FOUND THAT EVEN BEFORE THE CIT(A) EITHER ASSESSEE DID NOT APPEAR OR SOUGHT FOR ADJOURNMEN T ON VARIOUS DATES AS UNDER: - DATE OF ISSUE OF NOTICE DATE FIXED FOR HEARING/ ADJOURNED DATE REMARKS 05.06.2014 19.06.2014 NO COMPLIANCE 14,08.2014 26.08.2014 NO COMPLIANCE 10.10.2014 31.10.2014 ADJOURNMENT WAS FILED 04.02.2016 24.02.2016 ADJOURNMENT WAS FILED 11.03,2016 22.03.2016 ADJOURNMENT WAS FILED 23.08.2016 22.09.2016 NO COMPLIANCE 6. AS NOBODY APPEARED ON BEHALF OF THE ASSESSEE TO EXPLAIN THE GENUINENESS OF LOAN AND SALE TRANSACTION, C IT(A) CONFIRMED THE ACTION OF THE AO. ITA NO. 3880/MUM/2017 M/S. PRAMEELA DEVELOPERS 4 7. HOWEVER, EVEN BEFORE THE TRIBUNAL, NOBODY APPEARED EVEN WHEN CASE AFTER HEARING WAS PUT UP FOR CLARIFICATION ON 07/12/2018. THIS APPEAL SO FILED BEFORE THE TRIBUNAL IS ALSO DELAYED BY 171 DAYS. CONSIDERING THE TOTA LITY OF FACTS, WE DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER PASSED BY AO MAKING IMPUGNED ADDITION, WHICH HAS NOT BEEN CONTROVERTED BY BRINGING ANY POSITIVE MATERIAL ON RECORD. ACCORDINGLY, WE DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER OF LOWER AUTHORITIES. 8. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 27 / 12 /201 8 SD/ - ( SANDEEP GOSAIN ) SD/ - (R.C.SHARMA) JUDICIAL MEMBER ACCOUNT ANT MEMBER MUMBAI ; DATED 27 / 12 /201 8 KARUNA SR. PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//