ITO 6(3)(1), Mumbai V. IDEEN FURNITURE PVT. LTD, Mumbai

ITA 440/MUM/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7573 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 30-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Bogus purchase
• Section: 250; 43; 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC , MUMBAI BEFORE SHRI R. C. SHARMA, ACCOUNTANT MEMBER ITA NO. 440 /MUM/ 2019 : A.Y : 2010 - 11 INCOME TAX OFFICER 6(3)(1) 5 TH FLOOR, ROOM NO.510 AAYAKAR BHAVAN M.K.ROAD, MUMBAI 400 020 VS. M/S. IDE EN FURNITURE PVT. LTD MILITIA APARTMENTS, 4 TH FLOOR M.P. ROAD, MAZGAON MUMBAI 400 010 PAN NO: AABC15128F REVENUE BY : SHRI ANOOP HIWASE ASSESSEE BY : SHRI MAHESH SABOO DATE OF HEARING : 07/01/2020 DATE OF PRONOUNCEMENT : 27 /01/2020 O R D E R PER R.C. SHARMA , ACCOUNTANT MEMBER THIS APPEAL FILED BY THE REVENUE IS AGAINST THE ORDER OF CIT(A) - 12, MUMBAI FOR THE A.Y.2010 - 11 IN THE MATTER OF ORDER PASSED U/S.143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961. 2. REVENUE IS AGGRIEVED FOR UPHOLDING THE ADDITION ON ACCOUNT OF BOGUS PURCHASES TO THE EXTENT OF 12.5% IN PLACE OF 100% MADE BY THE AO. 3. I HAVE GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOUND THAT THE AO REOPENED ASSESSMENT ON FINDING THAT ASSESSEE HAS MADE BOGUS PURCHASES OF RS .14,463/ - . ACCORDINGLY, HE ADDED ENTIRE AMOUNT IN ASSESSEES INCOME. ITA NO. 440/MUM/2019 M/S. IDEEN FURNITURE PVT. LTD 2 4. BY THE IMPUGNED ORDER, CIT(A) HAS RESTRICTED THE ADDITION TO THE EXTENT OF 25% OF THE ALLEGED BOGUS PURCHASES AFTER CONSIDERING THE FACTS AND CIRCUMSTANCES AND APPLYING JUDICIAL PRONO UNCEMENTS IN CASE OF NK PROTEINS LTD. 250 TAXMAN 22 (SC). NOTHING WAS PLACED BEFORE ME TO PERSUADE ME TO DEVIATE FROM THE FINDINGS OF CIT(A) AS CONTAINED AT PARA 42 & 43 OF HIS APPELLATE ORDER. ACCORDINGLY, I UPHOLD THE ORDER OF CIT(A). 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 27 / 01 /20 20 SD/ - (R.C.SHARMA) ACCOUNTANT MEMBER MUMBAI; DATED 27 / 01 /20 20 KARUNA SR. PS COPY OF THE ORDER FORWARDE D TO : BY ORDER, (ASSTT. REGISTRAR) IT AT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//