JAYSHREE P DIXIT, MUMBAI V. ITO 19 (2)(1), MUMBAI

ITA 4323/MUM/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0234 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 21-06-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Unexplained investment
• Section: 69; 201; 22; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, JM AND SHRI MANOJ KUMAR AGGARWAL, AM / I .T.A. NO. 4323 / MUM/ 201 9 ( / ASSESSMENT YEAR: 20 15 - 16 ) JAYSHREE P. DIXIT 48/2, ROOM NO.11, MUMMADEVI CHS, NEW MUMBADEVI BUILDING, KHADIKAR ROAD, GRGAUM, MUMBAI - 400004 . / VS. ITO 19(2)(1) ROOM NO.221, 2 ND FLOOR, MATRU MANDIR, TARDEO, MUMBAI - 400004. ./ ./ PAN/GIR NO. : BPDPD 5002 G ( / APPELLANT ) .. ( / RESPONDENT ) / DATE OF HEARING: 22 / 1 2 / 20 20 /DATE OF PRONOUNCEMENT: 22 / 1 2 / 20 20 / O R D E R PER AMARJIT SINGH, JM: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER DATED 1 0 . 0 5 .201 9 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS), 30 MUMBAI [HEREINAFTER REFERRED TO AS THE CIT(A)]. RELEVANT TO THE A.Y. 20 1 5 - 1 6 . 2. THE A SSESSEE HAS RAISED THE FOLLOWING GROUNDS.: - I ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE APPELLANT SUBMIT THAT THE HONBLE COMMISSIONER OF INCOME TAX (APPEALS) ERRED UPHOLDING THAT THE APPELLANT IS AN OWNER OF THE PROPERTY BY VIRTUE OF THE REG ISTERED DOCUMENTS FOR PURCHASE OF PROPERTY. ASSESSEE BY : SHRI RASHMIKANT MODI (AR) REVENUE BY: SHRI SANJAY J. SETHI (DR) ITA NO. 4323 /M/201 9 A.Y.20 15 - 16 2 THE APPELLANT SUBMITS THAT SHE IS NOT THE BENEFICIAL OWNER IN THE IMMOVABLE PROPERTY. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE APPELLANT SUBMIT THAT THE HONBLE COMMISSIONER OF INCOME TAX (APPEA LS) ERRED UPHOLDING THE ADDITION OF RS.13,91,570/ - MADE BY LD ASSESSING OFFICER AS UNEXPLAINED INVESTMENT U/S 69 OF THE I. T. ACT. 1961. 3. THE APPELLANT SUBMITS THAT ADDITIONS OF RS.13,91,570/ - MADE U/S 69 OF THE I. T. ACT, 1961 BE DELETED. 3. THE APPE LLANT CRAVES LEAVE TO RESERVE TO ITSELF THE RIGHT TO ADD, ALTER, AMEND OR ANNUAL ANY OF THE GROUNDS OF APPEAL AT OR BEFORE THE TIME OF HEARING AND TO PRODUCE SUCH FURTHER EVIDENCE, DOCUMENTS AND PAPERS AS MAY BE NECESSARY. 4. WHEN THIS APPEAL WAS CALLED OUT FOR HEARING, THE LD. COUNSEL OF THE ASSESSEE SUBMITTED THAT HE HAS FILED THE NECESSARY DECLARATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 2020) AND IS AWAITING FOR FINAL RESOLUTION OF THE MATTER UNDER THE SAID SCHEME. HE SUBMITTED THAT U PON COMPLETION OF THE NECESSARY FORMALITIES, HE WILL WITHDRAW THE APPEAL. IN RESPONSE TO THE SUGGESTION FROM THE BENCH, HE FAIRLY ACCEPTED THAT HE HAS NO OBJECTION TO THE APPEAL BEING DISMISSED AS WITHDRAWN AS LONG AS HIS RIGHT FOR REVIVAL OF THE APPEAL AR E PROTECTED, IN THE EVENT OF, FOR SOME UNFORTUNATE REASON, THE MATTER BEING NOT SETTLED UNDER THE VIVAD SE VISHWAS SCHEME. 5 . THE LD. DR ALSO DID NOT OBJECT TO DISGRACE SO SUGGESTED. 6 . IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO B E RIDER THAT IN THE UNLIKELY EVENT OF MATTER NOT BEING RESOLVED UNDER THE ITA NO. 4323 /M/201 9 A.Y.20 15 - 16 3 VIVAD SE VISHWAS SCHEME , THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF HIS APPEAL. 7 . IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO T HE OBSERVATION ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 22 / 1 2 /2020 SD/ - SD/ - ( MANOJ KUMAR AGGARWAL ) (AMARJIT SINGH) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; DATED : 22 / 12 / 2020 V IJAY PAL SINGH ( SR.PS ) / 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