ASST CIT 15(3)(1), MUMBAI V. SAVAIR ENERGY LTD, NAVI MUMBAI

ITA 4216/MUM/2016

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 8808 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-11-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 20-06-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V JENARDHANAN LD
• Assessee Lawyers: DR P DANIEL LD
• Keywords: Bogus purchase
• Section: 147; 2

Judgement Text

ITA.NO.4216/MUM/2016 SAVAIR ENERGY LIMITED ASSESSMENT YEAR-2009-10 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI . . , , BEFORE SHRI D.T. GARASIA, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO.4216/MUM/2016 ( / ASSESSMENT YEAR: 2009-10) ASSISTANT COMMISSIONER OF INCOME TAX 15(3)(2) ROOM NO.451,4 TH FLOOR, AAYKAR BHAVAN, M.K.ROAD MUMBAI-400 051 / VS. SAVAIR ENERGY LIMITED A-564,TTC INDUSTRIAL AREA, MIDC, MHAPE NAVI MUMBAI-400 079 ! ./ ./PAN/GIR NO. AAACE-8939-M ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) A SSESSEE BY : DR. P.DANIEL ,LD.AR RE VENUE BY : V.JENARDHANAN, LD. DR / DATE OF HEARING : 26/10/2017 / DATE OF PRONOUNCEMENT : 01/11 /2017 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY REVENUE FOR ASSESSMENT Y EAR [AY] 2009- 10 ASSAILS THE ORDER OF THE LD. COMMISSIONER OF INC OME-TAX (APPEALS)- 24 [CIT(A)], MUMBAI, APPEAL NO. CIT(A)-22/DCIT 10(3)/IT-229/13-14 DATED 31/03/2016. THE ASSESSMENT WAS FRAMED BY LD. DEPUTY COMMISSIONER OF INCOME TAX-10(3), MUMBAI [AO] U/S 1 43(3) READ WITH ITA.NO.4216/MUM/2016 SAVAIR ENERGY LIMITED ASSESSMENT YEAR-2009-10 2 SECTION 147 OF THE INCOME TAX ACT,1961 ON 31/12/2013. THE REVENUE IS AGGRIEVED BY ACTION OF LD. CIT(A) IN RESTRICTING TH E ADDITION ON ACCOUNT OF CERTAIN ALLEGED BOGUS PURCHASES OF RS.1,65,15,836/- TO 11% OF SUCH PURCHASES. 2. THE RESPECTIVE REPRESENTATIVE, AT THE OUTSET, DR EW OUR ATTENTION TO THE FACT THAT THE ASSESSEE SUFFERED SIMILAR ADDITIO N ON ACCOUNT OF BOGUS PURCHASES IN AY 2010-11 WHICH WAS RESTRICTED TO 10% BY LD. CI T(A). THE REVENUE CARRIED THE MATTER, IN SIMILAR MANNER, BEFORE THIS TRIBUNAL VIDE ITA NO. 4215/MUM/2016 ORDER DATED 18/08/2017 W HERE THE STAND OF LD. CIT(A) HAS BEEN CONFIRMED AND THEREFORE, SIMILA R VIEW MAY BE TAKEN IN THE MATTER. 3. WE HAVE PERUSED THE CITED ORDER OF THE TRIBUNAL. WE FIND THAT THE ASSESSEE SUFFERED SIMILAR ADDITIONS IN AY 2010-11 W HICH WAS RESTRICTED TO 10% BY LD. CIT(A) AND THE SAME HAS BEEN CONFIRME D BY THE TRIBUNAL. THEREFORE, FACTS AND CIRCUMSTANCES BEING THE SAME, TAKING THE SAME VIEW, WE CONFIRM THE STAND OF LD. CIT(A) AND DISMIS S REVENUES APPEAL. 4. RESULTANTLY, THE REVENUES APPEAL STANDS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 01 ST NOVEMBER, 2017. SD/- SD/- (D.T. GARASIA) (MANOJ KUMAR AGGARW AL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 01.11.2017 SR.PS:- THIRUMALESH ITA.NO.4216/MUM/2016 SAVAIR ENERGY LIMITED ASSESSMENT YEAR-2009-10 3 ! / 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