NISAR A. KHAN, MUMBAI V. ITO 21)(3)(4), MUMBAI

ITA 4698/MUM/2009

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4152 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-07-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Next Hearing Date: 27-06-2013
• Assessment Year: 2005-2006
• Appeal Filed On: 11-08-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K MAHAPATRA
• Assessee Lawyers: ANIL THAKUR
• Keywords: Unexplained cash credit; Unexplained investment; Business income; Depreciation; Principle of natural justice; Peak credit; Additional evidence

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUMBAI . . , ! ! ! ! ' ' ' ' #$%& % %% %' '' '% %% % %& %&%& %&'( '( '( '( , ) ) ) ) ! ! ! ! * * * * BEFORE SHRI P.M. JAGTAP, AM AND DR. S.T.M. PAVALAN, JM ./ I.T.A. NO. 4698/MUM/2009 ( )( + )( + )( + )( + ',+ ',+ ',+ ',+ / ASSESSMENT YEAR : 2005-06) NISAR A KHAN, PROP. NISAR STEEL, 1-2/7 MASTER CHAWL, KHURIYA ESTATE PAR BLDG. CST ROAD, KALINA, SRUZ(E), MUBABI-400055 ( ( ( ( / VS. ITO 21(3)(4), C-11, 6 TH FLOOR, BKC BANDRA (E) MUMBAI-400051 !- ./ PAN : AAEPK4307L ( -. / APPELLANT ) .. ( /0-. / RESPONDENT ) -. 1 2 / APPELLANT BY : SHRI ANIL THAKUR /0-. 1 2 / RESPONDENT BY : S.K.MAHAPATRA (' 1 / DATE OF HEARING : 27-06-2013 34, 1 / DATE OF PRONOUNCEMENT : 12-07-2013 5 / O R D E R PER P.M. JAGTAP, A.M . . . , ! : THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER OF THE LD. CIT(21), MUMBAI, DATED 29.04.2009. 2. THE ASSESSEE IN THE PRESENT CASE IS AN INDIVIDUA L WHO IS ENGAGED IN THE BUSINESS OF DEALING IN STEEL SCRAP U NDER THE NAME & STYLE OF HIS PROPRIETARY CONCERN M/S. NISHAR STEEL CORPORATION. 2 ITA NO.4698/MUM/2009 NISAR A.KHAN THE RETURN OF INCOME FOR THE YEAR UNDER CONSIDERATI ON WAS FILED BY HIM ON 03.01.2007 DECLARING TOTAL INCOME OF RS. 82, 229/-. IN THE PROFIT AND LOSS ACCOUNT FILED ALONG WITH THE SAID R ETURN, TOTAL SALES OF HIS BUSINESS WERE SHOWN BY THE ASSESSEE AT RS.6, 23,456/- WHEREAS THE ENQUIRY MADE BY THE AO REVEALED THAT TH ERE WERE TOTAL CREDITS OF RS.2,33,47,398/- MADE IN THE ACCOUNT OF THE ASSESSEE MAINTAINED WITH BOMBAY MERCANTILE CO-OPERATIVE BANK , KURLA BRANCH, MUMBAI. THE SAID CREDITS WERE INCLUSIVE OF CASH DEPOSITS TO THE EXTENT OF RS.66,51,000/-AND OTHER DEPOSITS EXCLUDING P.O. CANCELATION AND OD TO THE EXTENT OF RS. 1,25,18,34 3/-. WHEN THE ASSESSEE WAS CALLED UPON BY THE AO TO EXPLAIN THE S AID DEPOSITS AND RECONCILE THEM WITH HIS TURNOVER, HE COULD NOT OFFER ANY EXPLANATION WHATSOEVER EXCEPT STATING THAT ALL HIS RECORDS HAVE BEEN LOST IN THE FLOODS AND WATER LOGGING WHICH TOO K PLACE ON 25 TH JULY 2005. IN THE ABSENCE OF ANY SATISFACTORY EXPL ANATION FORTHCOMING FROM THE ASSESSEE, THE AO TOOK THE TOTA L CREDITS OF RS.2,33,47,398/- IN THE BANK ACCOUNT OF THE ASSESSE E AS HIS TURNOVER AND APPLYING THE GP RATE OF 21.86% DISCLOSE D BY THE ASSESSEE IN HIS P & L ACCOUNT, HE WORKED OUT THE GR OSS PROFIT AT RS.51,27,088/- AS AGAINST THE GROSS PROFIT OF RS.1, 36,298/- DISCLOSED BY THE ASSESSEE. THE DIFFERENCE AMOUNT O F RS. 49,90,790/- THUS WAS ADDED BY THE AO TO THE TOTAL I NCOME OF THE ASSESSEE. 3. THE AO ALSO FOUND THAT PEAK CREDIT OF THE BANK A CCOUNT OF THE ASSESSEE WAS RS.22,04,356/- ON 13.05.2004. ACCORDI NG TO THE AO, THE SAME REPRESENTED INVESTMENT MADE BY THE ASSESSE E IN HIS 3 ITA NO.4698/MUM/2009 NISAR A.KHAN BUSINESS AND SINCE IN HIS BALANCE SHEET FILED ALONG WITH RETURN OF INCOME, CAPITAL OF RS.3,56,737/- WAS SHOWN BY THE A SSESSEE, THE BALANCE AMOUNT OF RS.18,47,619/- WAS ADDED BY THE A O TO THE TOTAL INCOME OF THE ASSESSEE AS UNEXPLAINED INVESTM ENT. 4. THE ADDITIONS MADE BY THE AO ON ACCOUNT OF THE G ROSS PROFIT DIFFERENCE AND UNEXPLAINED INVESTMENT IN THE BUSINE SS WERE CHALLENGED BY THE ASSESSEE IN THE APPEAL FILED BEFO RE THE LD. CIT(A). BEFORE THE LD. CIT(A), THE ASSESSEE FURNISHED CERTA IN DETAILS AND DOCUMENTS AND SOUGHT ADMISSION THERE AS ADDITIONAL EVIDENCE ON THE GROUND THAT SUFFICIENT OPPORTUNITY OF BEING HEA RD WAS NOT AFFORDED BY THE AO DURING THE COURSE OF ASSESSMENT PROCEEDINGS. THE SAID DETAILS AND DOCUMENTS WERE FORWARDED BY TH E LD. CIT(A) TO THE AO FOR HIS COMMENTS. THE AO SUBMITTED HIS REMA ND REPORT TO THE LD. CIT(A) OFFERING THE FOLLOWING COMMENTS ON T HE ISSUE OF ADDITION MADE ON ACCOUNT OF DIFFERENCE IN GROSS PRO FIT. ON VERIFICATION OF DETAILED FILED, IT IS SEEN THAT TH E TURNOVER INCLUDES PAY ORDERS/DD CANCELLED. THE ASSESSEE HAS FILED DETAILS OF PAYORDER/DD ISSUED AND PAYORDER CANCELLED. AS VERIFIED FROM THE BANK STATEMENTS THE PAYORDER ISSUED ARE OF RS.1,36,36,302 /- AND THE PAYORDERS CANCELLED ON VARIOUS DATES SUM TO A TOTAL OF RS.50,78,710/- HENCE THE TURNOVER INCLUDES QUANTUM OF PAYORDER CANCELLED OF RS.50,78,710/-. TH E ASSESSEE HAS SUBMITTED ONLY BANK STATEMENT, BUT NO FILED BANK CONFIRMATION. 4 ITA NO.4698/MUM/2009 NISAR A.KHAN ALSO, AS REGARDS CASH DEPOSITED AND CASH WITHDRAWN FROM BANK, ON VERIFICATION FROM BANK STATEMENTS, IT IS SEEN THAT THE BANK DEPOSITS DURING THE YEAR ARE RS.66,71,100/- AND CASH WITHDRAWALS ARE RS.26,31,000/- WHEREAS THE ASSESSEE HAS RELIED ONLY ON THE BANK STATEMENTS FOR THE SAID DETAILS BUT NO BOOK S OF ACCOUNTS, CASH BOOK ETC. HAVE BEEN PRODUCED AND SUBMITTED. 5. WHEN THE REMAND REPORT SUBMITTED BY THE AO WAS C ONFRONTED BY THE LD. CIT(A) TO THE ASSESSEE, THE ASSESSEE FUR NISHED THE FOLLOWING DETAILS AND SUBMITTED THAT HIS TURNOVER C OULD BE ESTIMATED AT RS.1,31,37,688/- AND NOT RS.2,33,47,39 8/- AS TAKEN BY THE AO. PARTICULARS AMOUNT(RS.) TOTAL DEPOSITS AS PER ASSESSMENT ORDER 2,33,47,398 LESS D.D./P.O. CANCELLED AND DEPOSITED 50,78,710 CASH DEPOSITED AGAINST CASH WITHDRAWN FROM BANK 26,31,000 CHEQUE RECEIVED FROM HIMALAYA TRADING AS A LOAN 19,00,000 CHEQUE RECEIVED NAYEEM SCRAP TRADERS AGAINST LOAN GIVEN TO THEM 5,00,000 CHEQUE RECEIVED FROM JITENDRA TEXTILE RETURNED UNREALIZED 1,00,000 1,02,09,710 --------------- 1,31,37,688 =========== 5 ITA NO.4698/MUM/2009 NISAR A.KHAN 6. IT WAS ALSO SUBMITTED BY THE ASSESSEE THAT THE GROSS PROFIT RATE SHOULD BE TAKEN BETWEEN 5 TO 6% BASED ON THE PR ECEDING AND SUCCEEDING ASSESSMENT YEAR AND NET PROFIT SHOULD BE BETWEEN 2.5 TO 3% ON AN AVERAGE. 7. AFTER CONSIDERING THE REMAND REPORT OF THE AO, SUBMISSION OF THE ASSESSEE AS WELL AS THE MATERIAL AVAILABLE ON RECORD, THE LD. CIT(A) HELD THAT THE CREDITS IN THE BANK ACCOUNT OF THE EXTENT OF RS.1,02,09,710/- WERE DULY EXPLAINED BY THE ASSESSE E AND IT WAS PROVED THAT THE CREDITS TO THAT EXTENT DID NOT REPR ESENT SALES OF THE ASSESSEE. HE ALSO FOUND THAT GROSS PROFIT RATE OF 5.87% WAS DECLARED BY THE ASSESSEE IN THE IMMEDIATELY PRECEDI NG YEAR I.E. AY.2004-05 AND GP RATE 8.1% WAS DECLARED BY THE ASSE SSEE IN THE IMMEDIATELY SUCCEEDING YEAR I.E. A.Y.2006-07. ACCOR DINGLY, THE LD. CIT(A) HELD THAT THE INCOME OF THE ASSESSEE COULD R EASONABLY BE ESTIMATED BY APPLYING THE GP RATE OF 8% ON THE TURNO VER TO RS.1,31,37,688/-. ACCORDINGLY, HE WORKED OUT THE G ROSS PROFIT OF THE ASSESSEE AT RS.10,51,015/- AS AGAINST THE G.P. OF RS.1,36,298/- DECLARED BY THE ASSESSEE AND SUSTAIN ED THE ADDITION OF RS.49,90,790/- MADE BY THE AO ON THIS ISSUE TO T HE EXTENT OF RS.9,14,717/-. 8. IN THE REMAND REPORT, THE AO HAD OFFERED THE FO LLOWING COMMENTS ON THE ISSUE OF ADDITION MADE ON ACCOUNT O F UNEXPLAINED INVESTMENT IN THE BUSINESS. ASSESSEE HAS FILED P&L A/C. & BALANCE SHEET AS ON 13.05.2004 WHEREIN THE CASH IN HAND IS RS.8,41,336/- AND PEAK CREDIT IS RS.22,04,356/-. ASSESSEE HAS AL SO 6 ITA NO.4698/MUM/2009 NISAR A.KHAN STATED THAT THIS P&L BALANCE SHEET HAS BEEN FILED O N BASIS OF BANK STATEMENT, PURCHASE BILLS & SALES BIL LS. ASSESSEE HAS SHOWN LOANS OF RS.1,02,500/-(BY FILING CONFIRMATION & NOT PRODUCING THEM), SUNDRY CREDITORS OF GADHAR TRADING CO. & H.K. TRADER OF RS.10,10,893/- & RS.10,08,568/- RESPECTIVELY, NO DETAILS OF ANY PURCH ASE BILLS/SALES BILLS, HAVE BEEN FILED. HENCE THERE AR E NO DETAILS TO SUBSTANTIATE THE BASIS OF P&L A/C & BALA NCE SHEET FILED. THE PEAK CASH REMAINS THE SAME AT RS.22,04,356/-. 9. WHEN THE REMAND REPORT OF THE AO ON THIS ISSUE WAS CONFRONTED BY THE LD. CIT(A) TO THE ASSESSEE, THE L ATTER SUBMITTED THAT THE PEAK CREDIT IN HIS BANK ACCOUNT AS EXPLAIN ED BEFORE THE AO WAS NOTHING BUT PROCEEDS FROM REALIZATION OF SALES AND SINCE THE TOTAL SALES WERE ALREADY CONSIDERED WHILE MAKING TH E ADDITION OF GROSS PROFIT, NO SEPARATE ADDITION ON ACCOUNT OF PE AK CREDIT WAS REQUIRED TO BE MADE. THE LD. CIT(A) DID NOT FIND M ERIT IN THIS PLEA OF THE ASSESSEE. ACCORDING TO HIM, WHEN THE UNACCO UNTED SALES WERE FOUND TO BE MADE BY THE ASSESSEE, NOT ONLY THE GROSS PROFIT ON SUCH SALES WAS REQUIRED TO BE ESTIMATED BUT EVEN TH E UNEXPLAINED INVESTMENT MADE BY THE ASSESSEE IN SUCH UNACCOUNTED BUSINESS WAS REQUIRED TO BE ADDED. HE HELD THAT SUCH INVEST MENT ON THE BASIS OF PEAK CREDIT WAS PROPERLY WORKED OUT BY THE AO AND IN THE ABSENCE OF ANY SATISFACTORY EXPLANATION OFFERED BY THE ASSESSEE AS REGARDS THE SAID PEAK CREDIT WORKING, HE CONFIRMED THE ADDITION MADE BY THE AO ON ACCOUNT OF UNEXPLAINED INVESTMENT IN THE ASSESSEES BUSINESS. 7 ITA NO.4698/MUM/2009 NISAR A.KHAN 10. AGGRIEVED BY THE ORDER OF THE LD. CIT(A), THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL ON THE FO LLOWING GROUNDS:- 1. APPELLANT IS AN UNEDUCATED PERSON, RELIED UPON H IS ACCOUNTANT WHO HAD ALSO NO MORE KNOWLEDGE ABOUT THE ACCOUNTING RESPONSIBILITIES ETC. 2. THE APPELLANT PRAYS THAT ALL THE RELEVANT RECOR DS WERE LOST IN THE FLOODS & WATER LOGGING ON JULY 26, 2005 & THE ACCOUNTANT DID NOT MADE PROPER BOOKS OF ACCOUN TS ETC. DUE TO LACK OF PROPER RECORDS & THE APPELLANT R ELIED ON THE SAME. 3. THE APPELLANT PRAYS THE ITO AS WELL AS THE CIT( A) HAS ERRED IN PASSING THE ORDER BY ESTIMATING THE TO TAL INCOME ON THE BASIS OF G.P. RATIO WHICH MAY PLEASE BE DELETED BY YOUR HONOUR & THE SAME MAY PLEASE BE ESTIMATED ON NET PROFIT RATIO ON A REASONABLE RATE FOR NATURAL JUSTICE. 4. THE APPELLANT PRAYS THAT TURNOVER (AFTER VERIFIC ATION) IS NOT MORE THAN 1,31,37,688/- SO YOUR HONOUR IS REQUESTED TO ESTIMATE THE NET PROFIT (AFTER ALL THE EXPENSES & DEPRECIATION DEDUCTED) RATIO ON THE SAME FIGURE ON A REASONABLE NET PROFIT RATE. 5. THE APPELLANT PRAYS YOUR HONOUR THAT THE I.T.O. AS WELL AS THE CIT(A) HAS ERRED IN PASSING THE ORDER IN CONNECTION WITH THE ADDITION OF PEAK CREDIT AMOUNTI NG TO RS.18,47,619/- (22,04,356 -3,56,737) WHICH IS PUREL Y THE SURPRISE ADDITION MADE BY BOTH THE AUTHORITIES WHER EAS OUT OF THE TOTAL RS.22,04,356/-, RS.21,84,000/- HAS RECEIVED FROM PARTY TO WHOM GOODS WAS SOLD, THROUGH CLEARING CHEQUE & THE SAME IN ALREADY INCLUDED THE T OTAL TURNOVER OF RS.1,31,37,688/-. SO THE SAME MAY PLEA SE BE DELETED . 11. AT THE TIME OF HEARING BEFORE US, THE LD. COUNS EL FOR THE ASSESSEE HAS NOT PRESSED GROUND NO.1 & 2 RAISED IN THIS APPEAL OF THE ASSESSEE. THE SAME ARE ACCORDINGLY DISMISSED A S NOT PRESSED. 8 ITA NO.4698/MUM/2009 NISAR A.KHAN 12. AS REGARDS THE COMMON ISSUE RAISED IN GROUND N O. 3 & 4 RELATING TO ESTIMATION OF THE INCOME OF THE ASSESSE E BY APPLYING THE GROSS PROFIT RATE, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT SUCH ESTIMATE SHOULD BE MADE BY APPLYING THE NET PR OFIT RATE AND NOT GROSS PROFIT RATE. WHEN HE WAS ASKED BY THE B ENCH TO EXPLAIN OR SHOW WHETHER THERE ARE ANY EXPENSES INCURRED BY THE ASSESSEE OUTSIDE THE BOOKS OF ACCOUNT IN CONNECTION WITH UNA CCOUNTED SALES, HE INVITED OUT ATTENTION TO THE TRADING & PR OFIT & LOSS ACCOUNT OF THE ASSESSEE PLACED AT PAGE NO. 4 OF HIS PAPER BOOK AND SUBMITTED THAT EXPENSES OF ABOUT RS.54,000/- DEBITE D IN THE PROFIT & LOSS ACCOUNT ARE ALSO NOT ALLOWED AS A RESULT OF ESTIMATION OF THE INCOME OF THE ASSESSEE BY APPLYING THE GROSS PROFIT RATE. 13. THE LD. DR SUBMITTED THAT THE DIFFERENCE BETWE EN GROSS PROFIT ESTIMATED AND GROSS PROFIT DECLARED BY THE ASSESSEE HAS BEEN ADDED TO THE TOTAL INCOME OF THE ASSESSEE DECLARED IN THE RETURN OF INCOME AND THEREFORE THE EXPENSES DEBITED TO THE P & L ACCOUNT STOOD ALREADY ALLOWED. 14. WE HAVE CONSIDERED THE RIVAL SUBMISSION AND AL SO PERUSED THE RELEVANT MATERIAL ON RECORD. IN OUR OPINION, W HEN THE UNACCOUNTED SALES WERE FOUND TO BE MADE BY THE ASSE SSEE, THE ESTIMATION OF HIS INCOME FROM SUCH UNEXPLAINED SALE S IS GENERALLY MADE BY APPLYING GROSS PROFIT RATE AS THERE IS A PR ESUMPTION THAT SUCH UNACCOUNTED SALES ARE NOT POSSIBLE WITHOUT THE CORRESPONDING PURCHASES WHICH ARE ALSO UNACCOUNTED. THERE IS HOWEVER NO SUCH PRESUMPTION WHICH CAN BE DRAWN IN T HE CASE OF OTHER EXPENSES AND UNLESS THERE IS SOMETHING TO SHO W THAT SUCH 9 ITA NO.4698/MUM/2009 NISAR A.KHAN EXPENSES WERE ALSO INCURRED BY THE ASSESSEE OUTSIDE THE BOOKS OF ACCOUNT IN CONNECTION WITH UNACCOUNTED PURCHASES AN D SALES, THERE IS NO JUSTIFICATION TO ESTIMATE THE INCOME OF THE ASSESSEE BY APPLYING NET PROFIT RATE. AS REGARDS THE EXPENSES OF RS.54,000/- DEBITED IN THE PROFIT AND LOSS ACCOUNT OF THE ASSES SEE, WE FIND THAT THE NET PROFIT OF THE ASSESSEE AS REFLECTED IN THE P&L A/C AFTER REDUCING THE SAID EXPENSES WAS TAKEN BY THE AO AS S TARTING POINT WHILE COMPUTING THE INCOME OF THE ASSESSEE IN THE A SSESSMENT ORDER AND AS RIGHTLY SUBMITTED BY THE LD DR, ONLY T HE DIFFERENCE BETWEEN THE ESTIMATED GROSS PROFIT AND THE GROSS PR OFIT DECLARED BY THE ASSESS HAVING BEEN ADDED TO THE SAID NET PROFIT , THE EXPENSES DEBITED IN THE P& L A/C STOOD ALREADY ALLOWED AND T HERE IS NO CASE FOR ANY FURTHER RELIEF TO THE ASSESSEE ON THIS ISSU E. IN OUR OPINION, THE LD.CIT(A) HAS ADOPTED A VERY FAIR AND REASONABL E APPROACH WHILE ESTIMATING THE INCOME OF THE ASSESSEE BY APPLYING T HE GP RATE OF 8% ON THE UNEXPLAINED CREDITS IN THE BANK ACCOUNT OF THE ASSESSEE TREATING THE SAME AS THE SALES OF THE ASSESSEE AND WE FIND NO JUSTIFIABLE REASON TO INTERFERE WITH THE ORDER OF THE LD. CIT(A) ON THIS ISSUE, GROUND NO. 3 & 4 ARE ACCORDINGLY DISMIS SED. 15. AS REGARDS THE ISSUE RAISED IN GROUND NO. 5 REL ATING TO THE ADDITION MADE ON ACCOUNT OF UNEXPLAINED INVESTMENT OF THE ASSESSEE, THE LD. COUNSEL FOR THE ASSESSEE HAS REIT ERATED BEFORE US, THE SUBMISSION MADE ON BEHALF OF THE ASSESSEE BEFOR E THE AUTHORITIES BELOW THAT THE PEAK CREDIT REPRESENTING PROCEEDS OF THE SALES HAVING ALREADY BEEN CONSIDERED FOR THE PURPOS E GROSS PROFIT ADDITION, NO SEPARATE ADDITION ON ACCOUNT OF PEAK C REDIT WAS REQUIRED TO BE MADE. WE FIND NO MERIT IN THIS CON TENTION OF THE LD. 10 ITA NO.4698/MUM/2009 NISAR A.KHAN COUNSEL FOR THE ASSESSEE. AS RIGHTLY HELD BY THE L D. CIT(A), WHEN THE ASSESSEE IS FOUND TO HAVE MADE UNACCOUNTED SALE S, NOT ONLY THE PROFIT OF SUCH SALES REPRESENTS HIS INCOME BUT THER E IS ALSO INVESTMENT PART MADE BY THE ASSESSEE FOR EFFECTING SUCH UNACCOUNTED SALES. THE APPROPRIATE METHOD TO DETERM INE SUCH INVESTMENT IS TO ASCERTAIN THE PEAK CREDIT AND SINC E THERE IS NO MISTAKE POINTED OUT BY THE LD. COUNSEL FOR THE ASSE SSEE IN THE PEAK CREDIT WORKING MADE BY THE AO, WE ARE OF THE VIEW T HE ADDITION MADE BY THE AO ON THIS ISSUE IS RIGHTLY CONFIRMED B Y THE LD. CIT(A). WE, THEREFORE, UPHOLD THE IMPUGNED ORDER OF THE LD. CIT(A) ON THIS ISSUE AND DISMISS THE GROUND NO. 5 OF THE ASSESSEE S APPEAL. 16. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 12 TH JULY .2013 5 1 34, 6 (7 12 TH JULY 2013 4 1 SD/- SD/- ( DR. S.T.M. PAVALAN ) ( P.M. JAGTAP ) ! / JUDICIAL MEMBER ) ! / ACCOUNTANT MEMBER MUMBAI ; 6 ( DATED. 12-07-2013 )( . ./ S.S.K , PS 5 5 5 5 1 11 1 /)89 /)89 /)89 /)89 :9, :9, :9, :9, / COPY OF THE ORDER FORWARDED TO : 1. -. / THE APPELLANT 2. /0-. / THE RESPONDENT. 11 ITA NO.4698/MUM/2009 NISAR A.KHAN 3. ; ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. ; / CIT CONCERNED, MUMBAI 5. 9'< /))( , , / DR, ITAT, MUMBAI E BENCH 6. #+ = / GUARD FILE. 5( 5( 5( 5( / BY ORDER, 09 /) //TRUE COPY// > >> > / ? ? ? ? ( DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI