SURESH NAGRE, MUMBAI V. ACIT CC-35, MUMBAI

ITA 3976/MUM/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 4176 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: G
• Assessment Year: 2005-2006
• Appeal Filed On: 05-06-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: CHAUDHARY ARUN KUMAR SINGH LD
• Assessee Lawyers: NAVIN KUMAR MISHRA LD
• Section: 271(1)(c); 153A

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI . . , , BEFORE HONBLE SHRI C.N. PRASAD, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM 1. ./ I.T.A. NO.3976/MUM/2018 ( / ASSESSMENT YEAR: 2005-06) & 2. ./ I.T.A. NO.3977/MUM/2018 ( / ASSESSMENT YEAR: 2006-07) & 3. ./ I.T.A. NO.3978/MUM/2018 ( / ASSESSMENT YEAR: 2007-08) & 4. ./ I.T.A. NO.3979/MUM/2018 ( / ASSESSMENT YEAR: 2008-09) SHRI SURESH NAGRE 9/50, ORCHID BUILDING SHERE-E-PUNJAB SOCIETY ANDHERI (E), MUMBAI-400 093. / VS. A CIT CENTRAL CIRCLE - 25(1) C-10, 5 TH FLOOR BANDRA KURLA COMPLEX MUMBAI-400 051. ./ ./PAN/GIR NO. ADNPN-1212-H ( /APPELLANT ) : ( / RESPONDENT ) ASSESSEE BY : SHRI NAVIN KUMAR MISHRA LD. AR REVENUE BY : CHAUDHARY ARUN KUMAR SINGH - LD. SR. DR D ATE OF HEARING : 23/08/2019 DATE OF PRONOU NCEMENT : 23/08/2019 / O R D E R PER BENCH 1. IN THESE BUNCH OF APPEALS, THE ASSESSEE IS AGGRI EVED BY CONFIRMATION OF PENALTY U/S 271(1)(C) FOR ASSESSMEN T YEARS [AY) 2005-06 2 TO 2008-09. SINCE THE PENALTY ARISES OUT OF IDENTIC AL FACTS, THE APPEALS ARE BEING DISPOSED-OFF BY WAY OF THIS CONSOLIDATED ORDER FOR THE SAKE OF CONVENIENCE AND BREVITY. ITA NO. 3978/MUM/2018, AY 2007-08 2.1 THE PENALTY FOR THIS YEAR STEM FROM ASSESSMENT FRAMED BY LD. AO U/S 153A PURSUANT TO SEARCH CARRIED OUT BY THE REVE NUE ON 11/04/2007 IN THE CASE OF ETCO GROUP OF CASES. THE RETURNED INCOM E U/S 153A FILED BY THE ASSESSEE AT RS.20.19 LACS WAS ASSESSED AT RS.10 4.86 LACS, AFTER CERTAIN ADDITIONS. UPON FURTHER APPEAL, LEARNED FIR ST APPELLATE AUTHORITY PROVIDED CERTAIN RELIEF TO THE ASSESSEE. THE REVENU ES APPEAL AGAINST THE SAME HAS ALREADY BEEN DISMISSED BY THE TRIBUNAL VID E ITA NO. 6590/MUM/2011 ORDER DATED 17/03/2017. 2.2 IN THE MEANTIME, PENALTY PROCEEDINGS WERE INITI ATED AGAINST THE ASSESSEE AND THE ASSESSEE HAS BEEN SADDLED WITH PEN ALTY OF RS.7.97 LACS VIDE ORDER DATED 29/11/2011, AFTER CONSIDERING THE QUANTUM APPELLATE ORDER PASSED BY LD. CIT(A). THE PENALTY H AS BEEN LEVIED ON ACCOUNT OF ADDITION OF RS.1.79 LACS BEING CASH DEPO SITED IN THE BANK ACCOUNT AND ANOTHER ADDITION OF RS.21.90 LACS REPRE SENTING UNDISCLOSED INCOME. THE SAME, UPON CONFIRMATION BY LEARNED FIRS T APPELLATE AUTHORITY, IS UNDER CHALLENGE BEFORE US. 2.2 UPON HEARING, IT TRANSPIRES THAT OUT OF ADDITIO N OF RS.21.90 LACS, AN AMOUNT OF RS.18 LACS HAS ALREADY BEEN DELETED BY LD . CIT(A) SINCE THE SAME HAS BEEN HELD TO BE ALREADY OFFERED IN THE RET URN OF INCOME. THE STAND OF LEARNED FIRST APPELLATE AUTHORITY HAS ALRE ADY BEEN CONFIRMED BY THE TRIBUNAL BY WAY OF DISMISSAL OF REVENUES APPEA L. THEREFORE, WE DIRECT LD. AO TO DELETE THE PENALTY TO THE EXTENT O F ADDITION OF RS.18 3 LACS. THE BALANCE PENALTY STANDS CONFIRMED. THE APP EAL STANDS PARTLY ALLOWED. ITA NO. 3976-77/MUM/2018, AYS 2005-06 & 2006-07 2.3 IN THESE TWO YEARS, THE ASSESSEE HAS BEEN LEVIE D PENALTY AGAINST ADDITION MADE ON ACCOUNT OF CASH DEPOSIT IN THE BAN K ACCOUNT. THE AMOUNT OF ADDITION FOR AY 2005-06 IS RS.75,000/-& R S.71,500/- FOR AY 2006-07 AGAINST WHICH PENALTY OF RS.25,245/- & RS.2 4,067/- RESPECTIVELY HAS BEEN LEVIED. THE RESPECTIVE INCOME WAS NOT OFFE RED IN THE RETURN OF INCOME AND THE ADDITIONS HAVE ALREADY ATTAINED FINA LITY. THE ASSESSEE DID NOT CONTEST THE QUANTUM BEFORE LEARNED FIRST AP PELLATE AUTHORITY. THEREFORE, FINDING NO INFIRMITY IN THE IMPUGNED ORD ER, THESE TWO APPEALS STAND DISMISSED. ITA NO. 3979/MUM/2018, AY 2008-09 2.4 IN THIS YEAR, THE PENALTY HAS BEEN LEVIED FOR A DDITION OF RS.78,900/- TOWARDS UNDISCLOSED INCOME AND ADDITION OF RS.1,26, 000/- ON ACCOUNT OF NOTIONAL RENTAL INCOME FROM CERTAIN HOUSE PROPERTY WHICH HAS REMAINED VACANT DURING THE YEAR. SINCE THE AMOUNT OF RS.78,9 00/- HAS ALREADY BEEN DISCLOSED IN THE RETURN OF INCOME AND ANOTHER ADDITION MERELY REPRESENT NOTIONAL RENTAL INCOME AGAINST VACANT HOU SE PROPERTY, WE ARE INCLINED TO DELETE THE IMPUGNED PENALTY. THIS APPEA L STANDS ALLOWED. CONCLUSION 3. ITA NO. 3976/MUM/2018 STAND PARTLY ALLOWED. ITA NOS. 3977- 78/MUM/2018 STANDS DISMISSED. ITA NO. 3979/MUM/2018 STANDS ALLOWED. 4 ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD AUGUST, 2019. SD/- SD/- (C.N. PRASAD) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 23/08/2019 SR.PS, JAISY VARGHESE / COPY OF THE ORDER FORWARDED TO : 1. !' / THE APPELLANT 2. #!' / THE RESPONDENT 3. $ $ % ( ) / THE CIT(A) 4. $ $ % / CIT CONCERNED 5. &' ( ) , $ ) , / DR, ITAT, MUMBAI 6. '+,- / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.