MANOJ NARAYAN SHETTY, THANE V. ITO WARD 2 (5), THANE

ITA 47/MUM/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 3647 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2015-2016
• Appeal Filed On: 02-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: DEEPAK RAJE
• Keywords: Competent authority
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA , AM AND SHRI AMARJIT SINGH, JM / I .T.A. NO. 47 / MUM/ 20 20 ( / ASSESSMENT YEAR: 20 15 - 16 ) MANOJ NARAYAN SHETTY ROOM NO.16, B WING, 6 TH FLOOR, ASHA R IT PARK, ROAD NO.16Z, MIDC THANE WEST - 400604 . / VS. ITO WARD 2(5) THANE. ./ ./ PAN/GIR NO. : ANMPS 0248 P ( / APPELLANT ) .. ( / RESPONDENT ) / DATE OF HEARING: 04 / 1 1 / 20 20 /DATE OF PRONOUNCEMENT: 04 / 11 / 20 20 / O R D E R PER AMARJIT SINGH, JM: THIS IS AN APPEAL FILED BY THE ASS ESSEE AGAINST TH E ORDER DATED 04 . 1 1 .201 9 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 01 MUMBAI [HEREINAFTER REFERRED TO AS THE CIT(A) ] AND PERTAINS TO A.Y.2015 - 16 . 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS .: - 1. ON THE FACTS & IN THE CIR CUMSTANCES OF THE CASE AND IN LAW THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 1 THANE, ERRED IN CONFIRMING THE ADDITIONS MADE BY THE INCOME TAX OFFICER WARD 2(5) THANE WITHOUT APPRECIATING THE MERITS OF THE CASE. 2. ON THE FACTS & IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 1 THANE, ERRED IN CONFIRMING THE ADDITIONS OF RS.1,07,45,963/ - BEING DIFFERENCE BETWEEN GROSS RECEIPTS AS PER 26AS AND GROSS RECEIPTS AS PER RETURN OF DEDUCTIONS FOR BUSINESS EXPENDI TURE. 3. ON THE FACTS & IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 1 THANE, ERRED IN TREATING THE ENTIRE ADDITIONAL GROSS RECEIPT AS INCOME INSTEAD OF NET PROFIT THEREFROM. 4. THE APPELLANT RESERVES RIGHT T O ADD, ALTER OR AMEND THE GROUND S OF APPEAL ON OR BEFORE THE DATE OF HEARING . ASSESSEE BY : SHRI DEEPAK RAJE REVENUE BY: SHRI A. K. SRIVASTAVA ITA NO. 47 /M/20 20 A.Y.20 15 - 16 2 3 . AT THE OUTSET, THE LD. COUNSEL OF THE ASSESSEE STATED THAT HE IS REQUESTING THAT ASSESSEE MAY BE PERMITTED TO WITHDRAW THE APPEAL. HE SUBMITTED THAT ASSESSEE HAS OPTED FOR RESOLUTION OF DISPUTED TAX UNDER DIRECT TAX VIVAD SE VISHWAS ACT 2020 (ACT 3 OF 2020). HE SUBMITTED THAT ASSESSEE HAS ACCORDINGLY FILED THE NECESSARY DECLARATION AND COMPETENT AUTHORITY HAS ISSUED FORM NO.3 IN THIS REGARD ALSO. IN THE VIEW OF THE MATTER HE SOUGHT TO WITHDRAW THE APPEAL. THE LD. DR DID NOT HAVE ANY OBJECTION. 4. ACCORDINGLY IN THE LIGHT OF THE ABOVE DECISION, WE PERMIT THE WITHDRAW AL OF ABOVE APPEAL ACCORDINGLY. HENCE , THIS APPEAL IS DISPOSED OFF BY TREATING THEM AS WITHDRAWN . 5 . IN THE RESU LT, THE APPEAL OF THE ASSESSEE IS BEING DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN THE OPEN COURT ON 04 / 11 /2020 SD/ - SD/ - ( SHAMIM YAHYA ) (AMARJIT SINGH) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; DATED : 04 / 11 / 2020 V IJAY P AL SINGH ( SR.PS ) / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / D R, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / /(DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI