ITO 25(3) (3), MUMBAI V. RAJESH L RATHOD, MUMBAI

ITA 4219/MUM/2010

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3915 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 8 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 19-03-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 25-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S BIST
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) ITA NO. 4219 /MUM/2010 ASSESSMENT YEAR: 2007-08 THE ITO - 2 5(3 ) (3) , ROOM NO. 304, 3 RD FLOOR, BLDG. C-11, PRATYAKSHAKAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA(E), MUMBAI- 400051. VS. SHRI. RAJESH L. RATHOD . C-405 NIKUNJ CHHAYA, MATHURADAS ROAD, OPP. WANZA WADI, KANDIVALI(W), MUMBAI. PAN- AABPR2035D (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. B.S.BIST RESPONDENT BY : SHRI. BHUPENDRA SHAH DATE OF HEARING: 22/02/2016 DATE OF PRONOUNCEMENT: 22/02/2016 O R D E R PER RAM LAL NEGI, JM THE AFORESAID APPEAL HAS BEEN FILED BY THE REV ENUE AGAINST IMPUGNED ORDER DATED 12/03/2010 PASSED BY THE CIT( APPEALS)-35, MUMBAI IN RESPECT OF THE ORDER OF ASSESSMENT PASSED U/S 143(3) FOR THE ASSESSMENT YEAR 2007-08, ON THE FOLLOWING GROUN DS:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) ERRED IN RESTRICTING THE ADDITION ON ACCOUNT OF UND ISCLOSED INCOME FROM RS. 16,53,496/- TO RS. 76,441/- RELYING ON THE SUBMISSION OF THE ASSESSEE WITHOUT APPRECIATING THE FACT THAT THE SAME SUBMISSION WAS FOUND OUT ERRONEOUS BY THE A.O. AT THE TIME OF ASSESSMENT.. 2 ITA NO. 4219 /MUM/2010 ASSESSMENT YEAR: 2007-08 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) ERRED IN DELETING THE ADDITION OF RS. 8,24,079/- ON ACCOUNT OF UNSECURED LOAN WITHOUT APPRECIATING THE FACT THAT T HE GENUINENESS OF TRANSACTION WAS NOT PROVED. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) ERRED IN RESTRICTING THE ADDITION OF 10% OF TOTAL W AGES TO 5% WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE COU LD NOT SUBSTANTIATE ITS CLAIM BEFORE THE ASSESSING OFFICE R.. 4. THE APPELLANT PRAYS THAT THE ORDER OF THE CIT(A) ON THE ABOVE GROUND TO BE SET-ASIDE AND THAT OF THE ASSESS ING OFFICER BE RESTORED. 5. THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUND OR ADD NEW GROUND. 2. AT THE OUTSET, IT IS NOTICED THAT, THE QUANTUM IN DISPUTE IS ONLY RS. 28,32,099/- AND THE TAX EFFECT ON THIS AMOUNT IS BE LOW THE SPECIFIED MONETARY LIMIT OF RS. 10 LAKHS. AS PER THE LATEST C BDT CIRCULAR NO. 21 OF 2015, DATED 10 TH DECEMBER, 2015, NEW GUIDELINES OF MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT HAS BEEN IS SUED, WHEREBY THE TAX EFFECT FOR FILING OF APPEAL BEFORE THE ITAT HAS BEEN PRESCRIBED AT RS. 10 LAKHS. IN THE SAID CIRCULAR, IT HAS BEEN SPECIFI CALLY CLARIFIED THAT THE SAID INSTRUCTION WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND IS DISMISSED IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 22 TH FEBRUARY, 2016. SD-/ SD/- ( B.R.BASKARAN ) (RAM LAL NEGI) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED: 22/02/2016 3 ITA NO. 4219 /MUM/2010 ASSESSMENT YEAR: 2007-08 / 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 PRAMILA